Press release
Top Factor Driving Vehicle Road Sign Assist Market Growth in 2025: Vehicle Road Sign Assist Market Surges Amid Rising Accidents
Vehicle Road Sign Assist Market Size
There has been a monumental increase in the size of the vehicle road sign assist market in the past few years. The market, which stood at $4.7 billion in 2024, is projected to surge to $5.87 billion in 2025, representing a compound annual growth rate (CAGR) of 24.8%. This past growth can be traced to factors such as road safety regulations, incorporation of driver assistance systems, escalation in traffic density, urban expansion, and infrastructure development accident prevention.
In the forthcoming years, the market for vehicle road sign assistance is anticipated to experience substantial expansion. It is projected to reach a value of $12.91 billion by 2029, with a compound annual growth rate (CAGR) of 21.8%. The predicted growth in this timeframe can be credited to the amalgamation with connected automobiles, the emergence of automated and self-driven vehicles, international standardization of roadway signs, governmental road safety initiatives, and improved image processing algorithms. The forecast period is expected to be marked by significant trends such as advancements in image identification technology, incorporation with augmented reality (AR), utilization of deep learning for sign recognition, connected vehicle technology, integration with the global navigation satellite system (gnss), and context-aware sign interpretation.
What Are the Primary Growth Drivers for the Vehicle Road Sign Assist Market?
The anticipated rise in the vehicle road sign assist market is mainly influenced by escalating occurrences of accidents. A road traffic collision is defined by a single or more vehicles being involved in an accident on a public road, leading to at least one casualty or severe injury. Road sign recognition is a type of driver assistance system aimed at recognizing traffic signals, thus providing alerts to drivers and enhancing road safety. For instance, the US-based National Highway Traffic Safety Administration reported that there were approximately 42,795 fatalities from motor vehicle accidents in 2022, marking a marginal 0.3% decrease from the 42,939 deaths in 2021. Interestingly, although there was an increase in driving post-pandemic, the death rate further lowered to 1.35 per 100 million vehicle miles traveled from 1.37 in 2021. Hence, the rise in accident cases fuels the growth of the vehicle road sign assist market.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13756&type=smp
Who Are the Dominant Companies Influencing Vehicle Road Sign Assist Market Trends?
Major companies operating in the vehicle road sign assist market report are Volkswagen AG, Mercedes-Benz Group AG, Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Robert Bosch GmbH, Hyundai Motor Company, Tesla Inc., Nissan Motor Co. Ltd., Kia Corporation, Panasonic Corporation, Audi AG, Denso Corporation, The Volvo Group, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Toshiba Corporation, Lexus, Skoda Auto a. s., Valeo SA, Aptiv PLC, Autoliv Inc., Harman International Industries Inc., Mobileye Global Inc., OmniVision Technologies Inc., Waymo LLC, Ambarella Inc., TomTom N.V., dSPACE GmbH, HELLA GmbH & Co. KGaA
How Is the Vehicle Road Sign Assist Market Evolving?
Major corporations functioning in the vehicle road sign assist market are emphasizing on enhanced products like intelligent speed assist solutions to offer trustworthy services to their clientele. Intelligent speed assist solutions use advanced technology to automatically calibrate and restrict a vehicle's speed to align with local speed limitations. For instance, in July 2023, Mobileye Global Inc., a corporation rooted in Israel that creates road sign assist technologies, introduced the world's inaugural camera-only intelligent speed assist solution. This service assists drivers in identifying the permissible speed limit and ensures they drive within this range. The product's advanced facets include traffic sign significance, Optical Character Recognition (OCR) based detection of city boundaries for European style signs, road type distinction, signature specific categorisation, state-of-the-art search engines, and signature specific categorisation.
What Are the Different Segmentations in the Vehicle Road Sign Assist Market?
The vehicle road sign assist market covered in this report is segmented -
1) By Components: Camera, Speedometer, Break Boosters, Indicators, Electronic Systems
2) By Vehicle Type: Passenger Vehicles (PVs), Hatchbacks, Sedans, Multi-Purpose Vehicles (MPVs), Sport Utility Vehicles (SUVs), Commercial Vehicles (CVs), Lightweight Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
3) By Sales Channel: Original Equipment Manufacturer (OEM), After market
4) By Application: Providing Information Related To The Speed Limit, Warning About 'No Entry' Areas., Giving Signal On 'One Ways', Other Applications
Subsegments:
1) By Camera: Front Cameras, Rear Cameras, Side Cameras
2) By Speedometer: Analog Speedometers, Digital Speedometers
3) By Brake Boosters: Vacuum Brake Boosters, Electric Brake Boosters
4) By Indicators: Turn Indicators, Lane Change Indicators
5) By Electronic Systems: Control Units, Display Systems, Sensor Integration
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/vehicle-road-sign-assist-global-market-report
Which Region Is at the Forefront of the Vehicle Road Sign Assist Market?
North America was the largest region in the vehicle road sign assist market in 2024. The regions covered in the vehicle road sign assist market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Vehicle Road Sign Assist Global Market Report?
- Market Size Analysis: Analyze the Vehicle Road Sign Assist Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Vehicle Road Sign Assist Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Vehicle Road Sign Assist Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Vehicle Road Sign Assist Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13756
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Top Factor Driving Vehicle Road Sign Assist Market Growth in 2025: Vehicle Road Sign Assist Market Surges Amid Rising Accidents here
News-ID: 3855861 • Views: …
More Releases from The Business Research Company
Surge In Commercial Infrastructure Demand Fueling The Growth Of The Market Due T …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Glass Panel Frameless Railing Market Size Growth Forecast: What to Expect by 2025?
The market size for frameless glass panel railings has experienced a robust expansion in the past few years. The market, which was valued at $2.32 billion in 2024, is projected to increase to $2.54 billion in…
Formwork Plywood: A Leading Driver Behind Increasing Construction Activities Fue …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Formwork Plywood Industry Market Size Be by 2025?
There has been a consistent growth in the formwork plywood market size in the past few years. The market is projected to escalate from $7.56 billion in 2024 to $7.85 billion in 2025, recording a compound annual growth…
Comprehensive Floor Underlayment And Padding Market Forecast 2025-2034: Growth T …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Floor Underlayment And Padding Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for floor underlayment and padding has seen substantial growth in recent times. The market value is projected to increase from $16.63 billion in 2024 to $17.94 billion in 2025, with…
Increasing Cybersecurity Threats In Financial Services Driving Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Fintech Crisis Management Market Size By 2025?
The dimension of the fintech crisis management market has seen swift expansion in the last few years. The market is estimated to scale from $9.38 billion in 2024 to $10.83 billion in 2025, yielding a compound annual growth…
More Releases for Vehicle
Transformative Trends Impacting the Vehicle-to-Vehicle (V2V) Communication Marke …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.
How Large Will the Vehicle-to-Vehicle (V2V) Communication Market Size By 2025?
The size of the vehicle-to-vehicle (V2V) communication market has seen significant expansion in the most recent years. The market is projected to surge from $24.28 billion in 2024 to $27.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. The…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to the report published by Allied Market Research, the global electric vehicle motor market generated $5.5 billion in 2021, and is estimated to reach $34.4 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific market. Moreover, various technological…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
According to a recent report published by Allied Market Research, titled,"Truck Platooning Market by Technology, Platooning Type, and Communication Technology: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global truck platooning market size was valued at $500.9 million in 2017, and is projected to reach $4,590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025.
To Explore More, Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5245
Global truck platooning market is segmented…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to a new report published by Allied Market Research, titled, "Electric Vehicle Motor Market," The global electric vehicle motor market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the…
Electric Vehicle Power Inverter Market : Hybrid Vehicle, Plug in Hybrid Vehicle, …
The electric vehicle power inverter market was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031.
Download Sample Report at https://www.alliedmarketresearch.com/request-sample/9122
Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission and…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
The global truck platooning market size was valued at $500.9 million in 2017 and is projected to reach $4590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025 by Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), Platooning type (Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooning), and Communication Technology (Vehicle-to-infrastructure (V2I),…
