Forecast for growth in automatic traffic sign recognition

Report shows factors influencing the market for traffic sign recognition systems for ADAS and autonomous vehicles in the Asia Pacific region.

A new report has been released by Research and Markets on traffic sign recognition in the Asia-Pacific region. With key suppliers in the market, such as Ford, Denso and Bosch, featuring in the report, the “Asia Pacific Traffic Sign Recognition Market” report covers the major market players as well as others who are involved in the technology, which is essenstial for advanced driver assist systems (ADAS) as well as autonomous vehicles.

The report covers modes of display, applications and geography as well as the key vendors and provides forecasts through until the end of the decade.

Having been worth some 135 million US dollars in 2015, the market for traffic sign recognition products in the Asia Pacific region has been forecast to grow at a rate (CAGR) of 12.2% for the next four years to top 240 million US dollars by 2020.

The technology of real-time detection and recognition of traffic signs has been made possible with the increasing power of on-board vehicle based computing systems and are now increasingly being fitted to higher end passenger vehicles as part of ADAS equipment.

The emerging technology of autonomous vehicles is also driving growth in the market as the automatic detection, classification and recognition of traffic signs and their status is an essential element in the development of driverless cars.

Other factors which are influencing the development of the market are also included in the report to provide a comprehensive landscape of the future of the technology in the region to the end of the decade.

The report is available for purchasing directly from the Research and Markets site here: “Asia-Pacific Traffic Sign Recognition Market – By Mode of Display, Solution Type, Applications, Geography and Vendors – Forecasts, Trends and Shares (2015- 2020)”

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