DUBLIN, March 1, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/52rp93/north_america) has announced the addition of the "North America Traffic Sign Recognition Market - Forecasts, Trends and Shares (2015- 2020)" report to their offering.
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The North American market for traffic sign recognition systems was worth US$ 175 million in 2015, and is expected to grow at CAGR of 16.77% by 2020.
Traffic Sign Recognition is a driver support function, which is used to notify and warn the driver about the restrictions that are effective on the road. Examples for such restrictions are speed limit zones' or no-overtaking' indications. The system can help the driver to maintain a permissible speed, obey the local traffic instructions, or any other urban restrictions. The system recognizes and interprets various traffic signs, both fixed signs on the road side and the overhead LED signs, using vision-only information.
Detection stage is accountable for finding the region of interest from the picture frame that is captured by a video camera mounted on top of a vehicle. The region is the probable part of the image, which contains traffic symbols. The second stage of automatic detection is the recognition of traffic symbol. Thereby the system is suited to study the traffic scene image captured by the camera, obtain the traffic symbol and make the necessary decisions.
The alarming rate of deaths and casualties resulting from human errors on the roads has increased considerable in US. Thereby, an employment of the technology in combination with other effective human-machine interfaces that falls in the category of safety systems, would help to vividly reduce accident rates. In addition the convenience that these system brings to the table, would continue attracting a lot of adoption. BMW is one of the early adopters of this technology followed by Mercedes, Audi, and Volvo.
North America is one of the largest market for automotive sensors because of the increasing demand for luxury vehicles, which are a major application for these systems. In addition, the increase in stringency for safety regulation by NHTSA, would also help to maneuver the demand of the traffic recognition systems.
- Hella Aglaia Mobile Vision
- Continental Automotive
- Skoda Auto
- Continental Automotive
Key Topics Covered:
2. Executive Summary
3. Market Insights
4. Technology Overview
5. Traffic Sign Recognition Market By Regions - Forecasts (2015 - 2020)
6. Competitive Intelligence - Key Vendor Analysis
7. Future Of Traffic Recognition System Market
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SOURCE Research and Markets