Traffic Signal Recognition Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

The automotive industry has emerged as one of the key procurer of advanced electronics. The electronic manufacturers are focusing heavily on the developing robust technologies for automotive sector. The traffic signal recognition technology is among the latest technologies developed by various electronics manufacturers. Increasing emphasize towards the development of robust advanced driver assistance systems (ADAS) is resulting in growth of traffic signal recognition market.

MARKET DYNAMICS

The traffic signal recognition market is poised to grow over the years, owing to the fact that, the automotive manufacturers are increasingly partnering with electronic manufacturers to develop advanced technologies. With an objective to reduce road accidents occurring from human errors, the automotive manufactures are increasingly stressing on the integration of the technology onto mid segment vehicles. This factor is also acting as a key propellant for traffic signal recognition market.

MARKET SCOPE

The "Global Traffic Signal Recognition Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of traffic signal recognition market with detailed market segmentation by detection technology, vehicle type, and geography. The global traffic signal recognition market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading traffic signal recognition market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global traffic signal recognition market is segmented on the basis of detection technology, vehicle type. Based on detection technology, the market is segmented as color-based detection, shape-based detection, and feature-based detection. Based on vehicle type, the market is segmented into passenger cars and commercial vehicle.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global traffic signal recognition market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The traffic signal recognition market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting traffic signal recognition market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the traffic signal recognition market in these regions.

MARKET PLAYERS

The reports cover key developments in the traffic signal recognition market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from traffic signal recognition market are anticipated to lucrative growth opportunities in the future with the rising demand for traffic signal recognition in the global market. Below mentioned is the list of few companies engaged in the traffic signal recognition market.

The report also includes the profiles of key traffic signal recognition companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

• CONTINENTAL AG
• DAIMLER AG
• DENSO CORPORATION
• FORD MOTOR COMPANY
• HELLA AGLAIA MOBILE VISION GMBH
• MOBILEYE CORPORATION
• ROBERT BOSCH GMBH
• TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION
• VOLKSWAGEN
• ZF FRIEDRICHSHAFEN

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Traffic Signal Recognition Report Scope