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.
Key Market Trends
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.
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 and 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.
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