The USA market for traffic sign recognition systems is expected to reach US$ 220 million by 2020, at CAGR of XX%. The increasing importance of consumer safety and installation of ADAS in mid-segment vehicles is helping the growth of the market significantly. The TSR system aims at the computer vision methods for the detection of objects outside the vehicle environment. There has been significant degree of research in the field, and enormous degree of improvement has been made for these systems in the region.
The Traffic Sign Recognition Systems are usually developed into two specific phases. The first phase relates to the detection of traffic signs in a video sequence or image, using image processing techniques. The second one is related to recognition of these detected signs, which is directly related with the performance in artificial neural network. The detection algorithms is based on the shape or the colour segmentation. The segmented potential regions are extracted to be input in recognition stage. The efficiency and speed of the detection plays a critical role in the system. These systems represent applied computer vision techniques, wherein, traffic signals for situations that also cautions about the dangers ahead, automatically controls automobile speeds in conditions, and so on. However, there are several issues that affect the adoption of TSR with respect to changeable light and weather conditions, which makes it difficult to recognise the signals and signs. The system should be made able to provide any additional information with respect to the poor visibility, weather, and improper placement of traffic signs.
On the bright side, the increased adoption of sophisticated driver assistance system along with the growing demand of premium vehicles would propel the growth of the market. The aftermarket segment is expected to witness considerable growth in the country owning to increased safety concerns among the consumers, in the last 2 years. Among application, Colour-based detection systems would have the highest share in the traffic sign recognition control systems, but the feature-based detection is expected to grow at a higher CAGR with about 17% till the forecast period. The major vendors of the traffic sign detection systems technology mentioned in the report are Continental, Ford, DENSO, ZF-TRW, Bosch, Toshiba and Daimler.
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