Press release
Vehicle Road Sign Assist Market to Grow at 21.3% CAGR, Reaching $12.53 Billion by 2029
Vehicle Road Sign Assist
Vehicle Road Sign Assist Market Outlook: How is the Market Expected to Grow by 2025?
The market size for vehicle road sign assist systems has undergone significant expansion over the recent past. The market valuation is expected to surge from $4.7 billion in 2024 to a considerable $5.79 billion in 2025, reflecting a compound annual growth rate (CAGR) of 23.1%. The impressive growth during the historical phase can be traced back to factors such as road safety legislations, the incorporation of driver-assistance systems, increasing vehicular congestion, urban growth, and infrastructure enhancement geared towards averting accidents.
Vehicle Road Sign Assist Market Forecast: What Size Will It Reach By 2029?
The market for vehicle road sign assist is projected to witness extraordinary growth in the coming years, reaching a valuation of $12.53 billion in 2029 with a CAGR of 21.3%. The progress during the forecast period is expected to come from the integration with connected vehicles, automation and self-driving trends, the universal standardization of road signs, governmental road safety initiatives, and improved image processing algorithms. Key market trends for this forecasted period would include technological innovation in image recognition, the incorporation of augmented reality (AR), the application of deep learning for sign recognition, the adoption of connected vehicle technology, integration with the global navigation satellite system (gnss), and the interpretation of signs based on context.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/vehicle-road-sign-assist-global-market-report
Which Key Market Drivers Will Shape Vehicle Road Sign Assist Industry Trends in 2025-2029?
The rise in accident incidents is anticipated to fuel the expansion of the vehicle road sign assist market in the future. A traffic accident on the roads involves at least one vehicle in a collision which results in at least one individual getting injured or dying. Systems designed to aid drivers, such as traffic sign recognition, help to identify road signs and issue warnings to drivers, helping guard against accidents. For example, the National Highway Traffic Safety Administration, a US governmental agency, reported that in 2022 there were an estimated 42,795 fatalities from motor vehicle accidents, a marginal 0.3% reduction from the 42,939 deaths in 2021. Even with increased travel following the pandemic, the death rate improved to 1.35 per 100 million vehicle miles traveled, compared to 1.37 in 2021. As a result, the escalating frequency of accidents is propelling the vehicle road sign assist market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13756&type=smp
What Are the High-Growth 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
Which Global Trends Are Driving Vehicle Road Sign Assist Market Expansion?
Leading businesses in the vehicle road sign assist market are concentrating on developing innovative products, such as intelligent speed assist solutions, in order to deliver dependable services to their customers. Intelligent speed assist solutions employ technology to automatically modify and control a vehicle's speed to adhere to the local speed limits. For example, Mobileye Global Inc., a company based in Israel that produces road sign assist systems, introduced the world's first camera-only intelligent speed assist solution in July 2023. This advanced solution helps the driver to identify the permitted speed limit and maintain their speed within it. The product boasts advanced features such as the relevance of traffic signs, the ability to identify city entrances through optical character recognition (OCR)-based signage with a European style, classification of road type, signature-based classification, advanced search engines, and signature-based classification.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=13756&type=smp
Who Are the Fastest-Growing Companies in the Vehicle Road Sign Assist Industry?
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
What Is the Regional Outlook for the Vehicle Road Sign Assist Market by 2029?
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.
#Reach Out to Us#
Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: saumyas@tbrc.info
The Business Research Company - www.thebusinessresearchcompany.com
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company
Speak With Our Expert:
Saumya Sahay
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:saumyas@tbrc.info
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company
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 Vehicle Road Sign Assist Market to Grow at 21.3% CAGR, Reaching $12.53 Billion by 2029 here
News-ID: 4178950 • Views: …
More Releases from The Business Research Company
Key Drivers Reshaping the Purvalanol A (CDK Inhibitor) Market: Increasing Preval …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Purvalanol A (CDK Inhibitor) Market Size Growth Forecast: What to Expect by 2025?
The market size for purvalanol A (CDK inhibitor) has witnessed a substantial expansion in the past few years. It is projected to escalate from $0.58 billion in 2024 to $0.64 billion in 2025, with a compound…
Growing Emphasis On Personalized Medicine Driving The Market Due To Advances In …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Polygenic Risk Score Services Market Size Growth Forecast: What to Expect by 2025?
The market size for polygenic risk score services has seen considerable growth in recent years. Anticipated to increase from $1.24 billion in 2024 to $1.45 billion in 2025, it projects a compound annual growth rate (CAGR)…
Future of the Global Pharmaceutical Unit-Dose Packaging Market: Trends, Innovati …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Pharmaceutical Unit-Dose Packaging Market Size Growth Forecast: What to Expect by 2025?
The market size of the pharmaceutical unit-dose packaging industry has experienced quick expansion in the recent past. The market, valued at $48.78 billion in 2024, is projected to rise to $54.50 billion in 2025, reflecting a compound…
Personal Care Product Testing Market Poised to Hit $10.37 Billion by 2029 with A …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Personal Care Product Testing Market Size Growth Forecast: What to Expect by 2025?
In the past few years, the market size for personal care product testing has seen robust growth. It's projected to increase from $7.28 billion in 2024 to $7.84 billion in 2025, with 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),…
