Germany Traffic Sign Recognition Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2020 |
| CAGR | > 10.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Germany Traffic Sign Recognition Market Analysis
The Germany traffic sign recognition market is poised to register a CAGR of over 10% during the forecast period (2020-2025).
- The modern car buyers prefer autonomous driving, including parking assistance, alerts for approaching vehicles, people and objects, traffic congestion assistance, and lane departure warnings. Thereby, with the increase in the convergence of sensor- and connectivity-based solutions, these systems are critical to making decisions based on information from the surrounding environment. In this respect, TSR systems help to significantly reduce the burden on drivers, augment the safety aspects, and increase the driver’s convenience.
- Traffic signal 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.
- Stringent emission regulations, adoption of enhanced technologies for road safety, advancements in research into sensors, cameras, and other automobile technologies, and scaling of manufacturing of sensor-based technologies across the world are some of the drivers for traffic signal recognition enabled vehicles.
Germany Traffic Sign Recognition Market Trends
This section covers the major market trends shaping the Germany Traffic Sign Recognition Market according to our research experts:
New Technological Development will Drive the Market
Modern vehicles have become smarter and safer as more connected cars, autonomous cars, and ADAS are entering the market. The vehicle technologies which are presently available will soon be overlapped by new technologies which will require fewer human participants. Automotive companies are developing new and improved technologies for staying ahead in the market. For instance, in 2019, Audi announces the introduction of the vehicle-to-infrastructure (V2I) service Traffic Light Information in Europe. According to that Audi will synchronize its new models with the traffic lights in Ingolstadt, Germany. After which it will be applied in other European cities from 2020 onwards. This technology will help drivers will help the drivers by displaying what speed is required to reach the next traffic light on the green in the cockpit.
Whereas in 2018, DENSO Corporation announced that it has developed a vision sensor that can detect pedestrians at night, cyclists, road signs, and driving lanes. When it is employed with a millimeter-wave radar sensor, the vision sensor allows vehicles to automatically activate emergency braking when obstacles are identified.
Apart from automotive tier 1 or tier 2 players various semiconductors and software companies have entered into the ADAS market as modern cars are becoming software governed rather than driver governed. For instance,
In 2020 Consumer Electronics Show (CES), Qualcomm Technologies, Inc. launched Qualcomm Snapdragon Ride Platform which is an open autonomous driving solution, This platform offers automakers a suitable solution for all three industry segments of autonomous systems, that include automatic emergency braking, traffic sign recognition, automated highway driving, self-parking and lane-keeping assist functions.
Decline in vehicle sale will hinder the Market Growth
As a result, to combat the spread of the coronavirus in Germany, the government closed factories, shops, schools from March and asked everyone to stay at home to help curb the outbreak. One of the main industries of Germany’s economy is the automotive industry which has seen its sharpest decline in decades due to this pandemic. According to the European Commission, new car registrations in Germany decreased by 61% in April after a 38% decline in March. In addition to that country’s economy will probably shrink by 6.5% in 2020.
In May the country started easing some restrictions such as allowing shops to reopen while factories are restarting their production lines, in addition to that huge fiscal support, is announced by the German government. The total stimulus package worth USD 146 billion is announced to support companies and workers in Germany one of Europe’s largest economy to recover quickly from the pandemic.
Germany Traffic Sign Recognition Industry Overview
The Germany traffic signal recognition market is consolidated with the presence of many major players like Robert Bosch Gmbh, DENSO Corporation, Continental AG, HELLA GmbH & Co. KGaA, and among others. Companies are introducing various new technologies and joining hands with other players to stay ahead in the market. For instance,
- In 2018, FLIR Systems, Inc. launched the FLIR ThermiCam™ V2X, a thermal traffic sensor for the vehicle-to-everything (V2X) technology. The FLIR traffic sensor will allow vehicles and traffic infrastructure to communicate and share data through a system.
- In 2018, HELLA launched an open platform for camera-based driver assistance systems, in which it provides the possibility of updating hardware components and other software functions, such as lighting control, traffic signal recognition, pedestrian recognition, according to customer preferences.
Germany Traffic Sign Recognition Market Leaders
Robert Bosch GmbH
Continental AG
HELLA GmbH & Co. KGaA
Toshiba Corporation
Mobileye Corporation
*Disclaimer: Major Players sorted in no particular order
Germany Traffic Sign Recognition Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Color-based Detection
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5.1.2 Shape-based Detection
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5.1.3 Feature-based Detection
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5.2 By Vehicle Type
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5.2.1 Passenger Cars
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5.2.2 Commercial Vehicles
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6. COMPETITIVE LANDSCAPE
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6.1 Vendor Market Share
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6.2 Company Profiles
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6.2.1 Continental AG
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6.2.2 Robert Bosch GmbH
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6.2.3 DENSO Corporation
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6.2.4 Toshiba Corporation
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6.2.5 HELLA GmbH & Co. KGaA
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6.2.6 Mobileye Corporation
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6.2.7 Ford Motor Company
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6.2.8 Tesla Inc.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Germany Traffic Sign Recognition Industry Segmentation
The Germany traffic signal recognition markets cover the latest trends and technological development and provide analysis on the market demand by type, vehicle, country and market share of major traffic signal recognition manufacturing companies in Germany
| By Type | |
| Color-based Detection | |
| Shape-based Detection | |
| Feature-based Detection |
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
Germany Traffic Sign Recognition Market Research FAQs
What is the current Germany Traffic Sign Recognition Market size?
The Germany Traffic Sign Recognition Market is projected to register a CAGR of greater than 10% during the forecast period (2023-2028).
Who are the key players in Germany Traffic Sign Recognition Market?
Robert Bosch GmbH, Continental AG, HELLA GmbH & Co. KGaA, Toshiba Corporation and Mobileye Corporation are the major companies operating in the Germany Traffic Sign Recognition Market.
Germany Traffic Sign Recognition Industry Report
Statistics for the 2023 Germany Traffic Sign Recognition market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Germany Traffic Sign Recognition analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
