Press release
Vehicle Road Sign Assist Market Surges Amid Rising Accidents: Strategic Insights Driving Vehicle Road Sign Assist Market Momentum in 2025
Vehicle Road Sign Assist
How Large Will the Vehicle Road Sign Assist Market Size By 2025?
The market size of vehicle road sign assist has seen a significant increase in the past few years. Projected to rise from $4.7 billion in 2024 to $5.87 billion in 2025, it's expected to have a compound annual growth rate (CAGR) of 24.8%. The surge during the historic period is due to factors such as road safety legislations, implementation of driver assistance systems, the rise in traffic congestion, urbanization, and infrastructure evolution aimed at accident prevention.
How Big Is the Vehicle Road Sign Assist Market Size Expected to Grow by 2029?
In the ensuing years, a surge in the size of the vehicle road sign assist market is predicted, with growth expected to reach $12.91 billion by 2029, reflecting a compound annual growth rate (CAGR) of 21.8%. This growth during the forecast period can be traced back to factors like the merging with connected vehicles, the trends in automated and autonomous driving, global road sign standardization, government-driven road safety initiatives, and advancements in image processing algorithms. Notable trends predicted for the forecast period encompass technological innovation in image recognition, the inclusion of augmented reality (AR), the application of deep learning for sign identification, evolving vehicle technology, global navigation satellite system (gnss) integration, as well as context-sensitive sign interpretation.
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Which Key Market Drivers Powering Vehicle Road Sign Assist Market Expansion and Growth?
The rise in the number of accidents is projected to drive the growth of the vehicle road sign assist market. A road traffic accident refers to an incident where at least one vehicle is involved in a collision on a public road, resulting in at least one injury or death. Driver assistance systems, such as road sign recognition, help drivers identify traffic signs and send alerts to enhance road safety. For instance, the National Highway Traffic Safety Administration, a US government agency, reported an estimated 42,795 fatalities from motor vehicle crashes in 2022, marking a marginal 0.3% drop from the 42,939 deaths in 2021. Despite the uptick in driving following the pandemic, the death rate per 100 million vehicle miles traveled improved to 1.35 from 1.37 in 2021. Hence, the escalating accident occurrences are motivating the expansion of the vehicle road sign assist market.
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Which Fast-Growing Trends Are Poised to Disrupt the Vehicle Road Sign Assist Market?
Leading enterprises in the vehicle road sign assist market are concentrating their efforts on creating cutting-edge products like intelligent speed assist solutions to deliver dependable services to their consumers. These intelligent speed assist solutions utilize technology to automatically regulate a vehicle's speed to conform with local speed laws. For example, Mobileye Global Inc., an Israel-based firm that specializes in road sign assist systems, unveiled the first camera-only intelligent speed assist solution in July 2023. This intelligent speed assist solution supports the driver in identifying the permitted speed limit and staying within it. The superior attributes of this product include features such as traffic sign applicability, European-style city entrance identification using optical character recognition (OCR), road-type identifier, signature-based sorting, sophisticated search engines, and signature-oriented classification.
What Are the Emerging Segments 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
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Who Are the Global Leaders in the Vehicle Road Sign Assist Market?
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
Which are the Top Profitable Regional Markets for the Vehicle Road Sign Assist Industry?
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.
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