Traffic signal recognition market 2023-2027; A descriptive analysis of the five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Jan. 5, 2023 /PRNewswire/ -- According to Technavio, the global traffic signal recognition market size is estimated to grow by USD 1068.08 million from 2022 to 2027. The market is estimated to grow at a CAGR of 3.74% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 39%. For more Insights on market size, Request a sample report

Traffic signal recognition market - Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Traffic signal recognition market – Customer Landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Traffic signal recognition market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on vehicle type (passenger vehicle and commercial vehicle), type (color-based detection, shape-based detection, and feature-based detection), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth by the passenger vehicle segment will be significant during the forecast period. The segment is driven by the rising demand for luxury vehicles and the increasing disposable income of consumers.

Geography Overview
By geography, the global traffic signal recognition market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global traffic signal recognition market.

• North America is estimated to contribute 39% to the growth of the global market during the forecast period. The presence of highly urbanized landscapes and the increasing adoption of advanced technologies, such as traffic management systems, to manage traffic are driving the growth of the regional market.

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Traffic signal recognition market – Market Dynamics

Key factor driving market growth

• The market is driven by rapid urbanization and increased emphasis on road safety.
• The rise in urban population is resulting in traffic congestion, especially in tier-I cities across the world.
• The growth in industries such as e-commerce, postal and logistics, and restaurant aggregator and food delivery has further increased the number of vehicles on road, making commuting tough for the population.
• This is increasing the need for proper traffic management systems to manage urban traffic, which is driving the growth of the market in focus.

Leading trends influencing the market 

• The need to improve the regulation of traffic flow is identified as the key trend in the market.
• Various road safety measures and solutions are being adopted across the world to improve traffic flow.
• Governments are incorporating traffic lights at intersections to ensure the safety of pedestrians and maintain the orderly flow of traffic.
• For instance, in 2019, the Department of Transportation in Kardinya, Australia, completed traffic flow improvements by upgrading pedestrian facilities, extra street lighting, traffic signal modifications, and signage marking improvements at the intersection of South Street and North Lake Road.
• Such developments across the world are positively influencing the growth of the market.

Major challenges hindering market growth

• The high cost of installation and maintenance is identified as the major challenge in the market.
• The deployment of smart management systems requires several hardware components, including sensors, communication devices, and control systems.
• It also requires advanced software that needs a higher degree of maintenance.
• The use of such components significantly increases both installation and maintenance costs.
• This is reducing the growth potential in the market.

Driver, Trend, and Challenges are the factors of market dynamics that state about
consequences & sustainability of the businesses, find some insights from a sample
report!

What are the key data covered in this traffic signal recognition market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the traffic signal recognition market between 2023 and 2027
• Precise estimation of the size of the traffic signal recognition market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the traffic signal recognition market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of traffic signal recognition market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Vehicle Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global traffic signal recognition market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global traffic signal recognition market 2017 - 2021 ($ million)

• 4.2 Vehicle type Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Vehicle type Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Vehicle Type

• 6.1 Market segments 
• Exhibit 30: Chart on Vehicle Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Vehicle Type - Market share 2022-2027 (%)

• 6.2 Comparison by Vehicle Type 
• Exhibit 32: Chart on Comparison by Vehicle Type
• Exhibit 33: Data Table on Comparison by Vehicle Type

• 6.3 Passenger vehicle - Market size and forecast 2022-2027
• Exhibit 34: Chart on Passenger vehicle - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Passenger vehicle - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Passenger vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Passenger vehicle - Year-over-year growth 2022-2027 (%)

• 6.4 Commercial vehicle - Market size and forecast 2022-2027
• Exhibit 38: Chart on Commercial vehicle - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Commercial vehicle - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Commercial vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Commercial vehicle - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Vehicle Type 
• Exhibit 42: Market opportunity by Vehicle Type ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 43: Chart on Type - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 Color-based detection - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Color-based detection - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Color-based detection - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Color-based detection - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Color-based detection - Year-over-year growth 2022-2027 (%)

• 7.4 Shape-based detection - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Shape-based detection - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Shape-based detection - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Shape-based detection - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Shape-based detection - Year-over-year growth 2022-2027 (%)

• 7.5 Feature-based detection - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Feature-based detection - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Feature-based detection - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Feature-based detection - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Feature-based detection - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 59: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027
• Exhibit 89: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Continental AG 
• Exhibit 112: Continental AG - Overview
• Exhibit 113: Continental AG - Business segments
• Exhibit 114: Continental AG - Key offerings
• Exhibit 115: Continental AG - Segment focus

• 12.4 D G Controls Ltd. 
• Exhibit 116: D G Controls Ltd. - Overview
• Exhibit 117: D G Controls Ltd. - Product / Service
• Exhibit 118: D G Controls Ltd. - Key offerings

• 12.5 Denso Corp. 
• Exhibit 119: Denso Corp. - Overview
• Exhibit 120: Denso Corp. - Business segments
• Exhibit 121: Denso Corp. - Key news
• Exhibit 122: Denso Corp. - Key offerings
• Exhibit 123: Denso Corp. - Segment focus

• 12.6 dSPACE GmbH 
• Exhibit 124: dSPACE GmbH - Overview
• Exhibit 125: dSPACE GmbH - Product / Service
• Exhibit 126: dSPACE GmbH - Key offerings

• 12.7 Elektrobit Automotive GmbH 
• Exhibit 127: Elektrobit Automotive GmbH - Overview
• Exhibit 128: Elektrobit Automotive GmbH - Product / Service
• Exhibit 129: Elektrobit Automotive GmbH - Key news
• Exhibit 130: Elektrobit Automotive GmbH - Key offerings

• 12.8 European Safety Systems Ltd. 
• Exhibit 131: European Safety Systems Ltd. - Overview
• Exhibit 132: European Safety Systems Ltd. - Product / Service
• Exhibit 133: European Safety Systems Ltd. - Key offerings

• 12.9 Ford Motor Co. 
• Exhibit 134: Ford Motor Co. - Overview
• Exhibit 135: Ford Motor Co. - Business segments
• Exhibit 136: Ford Motor Co. - Key news
• Exhibit 137: Ford Motor Co. - Key offerings
• Exhibit 138: Ford Motor Co. - Segment focus

• 12.10 HELLA Aglaia Mobile Vision GmbH 
• Exhibit 139: HELLA Aglaia Mobile Vision GmbH - Overview
• Exhibit 140: HELLA Aglaia Mobile Vision GmbH - Product / Service
• Exhibit 141: HELLA Aglaia Mobile Vision GmbH - Key offerings

• 12.11 Magna International Inc. 
• Exhibit 142: Magna International Inc. - Overview
• Exhibit 143: Magna International Inc. - Business segments
• Exhibit 144: Magna International Inc. - Key news
• Exhibit 145: Magna International Inc. - Key offerings
• Exhibit 146: Magna International Inc. - Segment focus

• 12.12 Mercedes Benz Group AG 
• Exhibit 147: Mercedes Benz Group AG - Overview
• Exhibit 148: Mercedes Benz Group AG - Product / Service
• Exhibit 149: Mercedes Benz Group AG - Key offerings

• 12.13 Mobileye Technologies Ltd. 
• Exhibit 150: Mobileye Technologies Ltd. - Overview
• Exhibit 151: Mobileye Technologies Ltd. - Product / Service
• Exhibit 152: Mobileye Technologies Ltd. - Key offerings

• 12.14 Robert Bosch GmbH 
• Exhibit 153: Robert Bosch GmbH - Overview
• Exhibit 154: Robert Bosch GmbH - Business segments
• Exhibit 155: Robert Bosch GmbH - Key news
• Exhibit 156: Robert Bosch GmbH - Key offerings
• Exhibit 157: Robert Bosch GmbH - Segment focus

• 12.15 SKODA AUTO AS 
• Exhibit 158: SKODA AUTO AS - Overview
• Exhibit 159: SKODA AUTO AS - Product / Service
• Exhibit 160: SKODA AUTO AS - Key offerings

• 12.16 Volkswagen AG 
• Exhibit 161: Volkswagen AG - Overview
• Exhibit 162: Volkswagen AG - Business segments
• Exhibit 163: Volkswagen AG - Key offerings
• Exhibit 164: Volkswagen AG - Segment focus

• 12.17 ZF Friedrichshafen AG 
• Exhibit 165: ZF Friedrichshafen AG - Overview
• Exhibit 166: ZF Friedrichshafen AG - Business segments
• Exhibit 167: ZF Friedrichshafen AG - Key news
• Exhibit 168: ZF Friedrichshafen AG - Key offerings
• Exhibit 169: ZF Friedrichshafen AG - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations 
• Exhibit 176: List of abbreviations

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