Traffic Sign Recognition System Market, By Vehicle Type (Passenger Cars, Commercial Vehicles, Others), By Type (Road Sign Detection, Traffic Light Detection, Lane Detection, Others) , By Level of Autonomous Driving (Level 1, Level 2 & 3, Level 4, Level 5), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jan 2024

Code : CMI6361

Pages :160

Formats :

Excel and PDF

Industry : Smart Technologies

Market News

Recent Developments

New product launches

In April 2022, Mercedes-Benz, a Germany-based luxury and commercial vehicle automotive brand, unveiled its new product, Data Traffic Signs. This product is designed to provide an efficient solution for its B2B and B2G customers to monitor the existing traffic sign network. It offers real-time notifications in the event of damage or loss of traffic signs. This not only enhances infrastructure-related applications but also contributes to the overall improvement of road safety for everyone.
In January 2022, Mobileye, a company specializing in advanced driver assistance and autonomous driving and owned by Intel is one of the world's largest semiconductor chip manufacturers, unveiled the latest iteration of its EyeQ system-on-a-chip (SoC). This release was characterized as the most sophisticated system introduced by Mobileye to date and was officially announced at the 2022 Consumer Electronics Show held in Las Vegas in USA.
In February 2021, Continental, a major automotive components manufacturer, has invested in Recogni, an AI chip startup based in Germany and the US. The increasing requirements for advanced processors are fueled by growing demands in connected vehicles, automation, and self-driving technologies

Acquisitions and Partnership

As of December 31, 2022, Volvo Car AB, a company based in Sweden, declared that it had attained full ownership of Zenseact, its subsidiary focused on autonomous driving (AD) software development. Volvo Cars AB acquired the remaining 13.5% of Zenseact's shares from ECARX, making the AD software company a wholly-owned subsidiary of the Sweden-based automaker. Despite this acquisition, Zenseact will continue to function as an independent and standalone company, according to Volvo Cars AB.
In April 2022, Qualcomm Incorporated, a company that creates semiconductors, software, and services related to wireless technology, finalized the acquisition of Arriver, a software company focused on sensor perception and drive policy, from SSW Partners (is the industry leader in engineered products for use in the refrigeration, cooking appliance, and HVAC markets). This acquisition strengthened Qualcomm Technologies' capacity to provide widespread, fully integrated, and competitive Advanced Driver Assistance System (ADAS) solutions to automakers and Tier-1 suppliers.
In April 2021, Mobileye, and Udelv, a Silicon Valley venture-supported firm, revealed a collaboration where Mobileye's autonomous driving system, known as Mobileye Drive, will power the upcoming Udelv autonomous delivery vehicles named "Transporters." The partners aim to manufacture over 35,000 Mobileye-equipped Transporters by 2028, commencing commercial operations in 2023.