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.
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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.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Traffic Signal Recognition Market - By Detection Technology
1.3.2 Traffic Signal Recognition Market - By Vehicle Type
1.3.3 Traffic Signal Recognition Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. TRAFFIC SIGNAL RECOGNITION MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. TRAFFIC SIGNAL RECOGNITION MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. TRAFFIC SIGNAL RECOGNITION MARKET - GLOBAL MARKET ANALYSIS
6.1. TRAFFIC SIGNAL RECOGNITION - GLOBAL MARKET OVERVIEW
6.2. TRAFFIC SIGNAL RECOGNITION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. TRAFFIC SIGNAL RECOGNITION MARKET - REVENUE AND FORECASTS TO 2028 - DETECTION TECHNOLOGY
7.1. OVERVIEW
7.2. DETECTION TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. COLOR-BASED DETECTION
7.3.1. Overview
7.3.2. Color-based Detection Market Forecast and Analysis
7.4. SHAPE-BASED DETECTION
7.4.1. Overview
7.4.2. Shape-based Detection Market Forecast and Analysis
7.5. FEATURE-BASED DETECTION
7.5.1. Overview
7.5.2. Feature-based Detection Market Forecast and Analysis
8. TRAFFIC SIGNAL RECOGNITION MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
8.1. OVERVIEW
8.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
8.3. PASSENGER CARS
8.3.1. Overview
8.3.2. Passenger Cars Market Forecast and Analysis
8.4. COMMERCIAL VEHICLES
8.4.1. Overview
8.4.2. Commercial Vehicles Market Forecast and Analysis
9. TRAFFIC SIGNAL RECOGNITION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Traffic Signal Recognition Market Overview
9.1.2 North America Traffic Signal Recognition Market Forecasts and Analysis
9.1.3 North America Traffic Signal Recognition Market Forecasts and Analysis - By Detection Technology
9.1.4 North America Traffic Signal Recognition Market Forecasts and Analysis - By Vehicle Type
9.1.5 North America Traffic Signal Recognition Market Forecasts and Analysis - By Countries
9.1.5.1 United States Traffic Signal Recognition Market
9.1.5.1.1 United States Traffic Signal Recognition Market by Detection Technology
9.1.5.1.2 United States Traffic Signal Recognition Market by Vehicle Type
9.1.5.2 Canada Traffic Signal Recognition Market
9.1.5.2.1 Canada Traffic Signal Recognition Market by Detection Technology
9.1.5.2.2 Canada Traffic Signal Recognition Market by Vehicle Type
9.1.5.3 Mexico Traffic Signal Recognition Market
9.1.5.3.1 Mexico Traffic Signal Recognition Market by Detection Technology
9.1.5.3.2 Mexico Traffic Signal Recognition Market by Vehicle Type
9.2. EUROPE
9.2.1 Europe Traffic Signal Recognition Market Overview
9.2.2 Europe Traffic Signal Recognition Market Forecasts and Analysis
9.2.3 Europe Traffic Signal Recognition Market Forecasts and Analysis - By Detection Technology
9.2.4 Europe Traffic Signal Recognition Market Forecasts and Analysis - By Vehicle Type
9.2.5 Europe Traffic Signal Recognition Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Traffic Signal Recognition Market
9.2.5.1.1 Germany Traffic Signal Recognition Market by Detection Technology
9.2.5.1.2 Germany Traffic Signal Recognition Market by Vehicle Type
9.2.5.2 France Traffic Signal Recognition Market
9.2.5.2.1 France Traffic Signal Recognition Market by Detection Technology
9.2.5.2.2 France Traffic Signal Recognition Market by Vehicle Type
9.2.5.3 Italy Traffic Signal Recognition Market
9.2.5.3.1 Italy Traffic Signal Recognition Market by Detection Technology
9.2.5.3.2 Italy Traffic Signal Recognition Market by Vehicle Type
9.2.5.4 United Kingdom Traffic Signal Recognition Market
9.2.5.4.1 United Kingdom Traffic Signal Recognition Market by Detection Technology
9.2.5.4.2 United Kingdom Traffic Signal Recognition Market by Vehicle Type
9.2.5.5 Russia Traffic Signal Recognition Market
9.2.5.5.1 Russia Traffic Signal Recognition Market by Detection Technology
9.2.5.5.2 Russia Traffic Signal Recognition Market by Vehicle Type
9.2.5.6 Rest of Europe Traffic Signal Recognition Market
9.2.5.6.1 Rest of Europe Traffic Signal Recognition Market by Detection Technology
9.2.5.6.2 Rest of Europe Traffic Signal Recognition Market by Vehicle Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Traffic Signal Recognition Market Overview
9.3.2 Asia-Pacific Traffic Signal Recognition Market Forecasts and Analysis
9.3.3 Asia-Pacific Traffic Signal Recognition Market Forecasts and Analysis - By Detection Technology
9.3.4 Asia-Pacific Traffic Signal Recognition Market Forecasts and Analysis - By Vehicle Type
9.3.5 Asia-Pacific Traffic Signal Recognition Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Traffic Signal Recognition Market
9.3.5.1.1 Australia Traffic Signal Recognition Market by Detection Technology
9.3.5.1.2 Australia Traffic Signal Recognition Market by Vehicle Type
9.3.5.2 China Traffic Signal Recognition Market
9.3.5.2.1 China Traffic Signal Recognition Market by Detection Technology
9.3.5.2.2 China Traffic Signal Recognition Market by Vehicle Type
9.3.5.3 India Traffic Signal Recognition Market
9.3.5.3.1 India Traffic Signal Recognition Market by Detection Technology
9.3.5.3.2 India Traffic Signal Recognition Market by Vehicle Type
9.3.5.4 Japan Traffic Signal Recognition Market
9.3.5.4.1 Japan Traffic Signal Recognition Market by Detection Technology
9.3.5.4.2 Japan Traffic Signal Recognition Market by Vehicle Type
9.3.5.5 South Korea Traffic Signal Recognition Market
9.3.5.5.1 South Korea Traffic Signal Recognition Market by Detection Technology
9.3.5.5.2 South Korea Traffic Signal Recognition Market by Vehicle Type
9.3.5.6 Rest of Asia-Pacific Traffic Signal Recognition Market
9.3.5.6.1 Rest of Asia-Pacific Traffic Signal Recognition Market by Detection Technology
9.3.5.6.2 Rest of Asia-Pacific Traffic Signal Recognition Market by Vehicle Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Traffic Signal Recognition Market Overview
9.4.2 Middle East and Africa Traffic Signal Recognition Market Forecasts and Analysis
9.4.3 Middle East and Africa Traffic Signal Recognition Market Forecasts and Analysis - By Detection Technology
9.4.4 Middle East and Africa Traffic Signal Recognition Market Forecasts and Analysis - By Vehicle Type
9.4.5 Middle East and Africa Traffic Signal Recognition Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Traffic Signal Recognition Market
9.4.5.1.1 South Africa Traffic Signal Recognition Market by Detection Technology
9.4.5.1.2 South Africa Traffic Signal Recognition Market by Vehicle Type
9.4.5.2 Saudi Arabia Traffic Signal Recognition Market
9.4.5.2.1 Saudi Arabia Traffic Signal Recognition Market by Detection Technology
9.4.5.2.2 Saudi Arabia Traffic Signal Recognition Market by Vehicle Type
9.4.5.3 U.A.E Traffic Signal Recognition Market
9.4.5.3.1 U.A.E Traffic Signal Recognition Market by Detection Technology
9.4.5.3.2 U.A.E Traffic Signal Recognition Market by Vehicle Type
9.4.5.4 Rest of Middle East and Africa Traffic Signal Recognition Market
9.4.5.4.1 Rest of Middle East and Africa Traffic Signal Recognition Market by Detection Technology
9.4.5.4.2 Rest of Middle East and Africa Traffic Signal Recognition Market by Vehicle Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Traffic Signal Recognition Market Overview
9.5.2 South and Central America Traffic Signal Recognition Market Forecasts and Analysis
9.5.3 South and Central America Traffic Signal Recognition Market Forecasts and Analysis - By Detection Technology
9.5.4 South and Central America Traffic Signal Recognition Market Forecasts and Analysis - By Vehicle Type
9.5.5 South and Central America Traffic Signal Recognition Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Traffic Signal Recognition Market
9.5.5.1.1 Brazil Traffic Signal Recognition Market by Detection Technology
9.5.5.1.2 Brazil Traffic Signal Recognition Market by Vehicle Type
9.5.5.2 Argentina Traffic Signal Recognition Market
9.5.5.2.1 Argentina Traffic Signal Recognition Market by Detection Technology
9.5.5.2.2 Argentina Traffic Signal Recognition Market by Vehicle Type
9.5.5.3 Rest of South and Central America Traffic Signal Recognition Market
9.5.5.3.1 Rest of South and Central America Traffic Signal Recognition Market by Detection Technology
9.5.5.3.2 Rest of South and Central America Traffic Signal Recognition Market by Vehicle Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. TRAFFIC SIGNAL RECOGNITION MARKET, KEY COMPANY PROFILES
11.1. CONTINENTAL AG
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DAIMLER AG
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DENSO CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FORD MOTOR COMPANY
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. HELLA AGLAIA MOBILE VISION GMBH
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MOBILEYE CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ROBERT BOSCH GMBH
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. TOSHIBA ELECTRONIC DEVICES AND STORAGE CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. VOLKSWAGEN
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ZF FRIEDRICHSHAFEN
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. CONTINENTAL AG
2. DAIMLER AG
3. DENSO CORPORATION
4. FORD MOTOR COMPANY
5. HELLA AGLAIA MOBILE VISION GMBH
6. MOBILEYE CORPORATION
7. ROBERT BOSCH GMBH
8. TOSHIBA ELECTRONIC DEVICES and STORAGE CORPORATION
9. VOLKSWAGEN
10. ZF FRIEDRICHSHAFEN
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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