Global Automotive Rear Cross Traffic Alert System Market By Application (Passenger Cars, Commercial Vehicles), End- Users (OEMs, Aftermarket), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Automotive Rear Cross Traffic Alert System Market
Global automotive rear cross traffic alert system market is set to witness a substantial CAGR of 6.15% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising safety awareness among population is the major factor driving the growth of this market.
Market Definition: Global Automotive Rear Cross Traffic Alert System Market
Automotive rear cross traffic alert system is a feature that helps the driver when they reverse the car from the parking areas. They usually identify the other car in the surrounding with help of sensors. They usually use small radars that look after the area near the vehicles. Increasing safety awareness among population is fuelling the growth of this market.
- Rising prevalence for improved rear visibilities is driving the market growth
- Deployment of advanced sensor having wider bandwidth and high frequency is driving market
- Increasing rules and regulations related to automotive rear cross traffic alert system is propel market
- Rising prevalence for infrared imaging sensors will also act as a driver for this market
- Complications while driving with the implementation of this system causes distraction for drivers; this factor is expected to restrain the growth of the market.
- High price of the automotive rear cross traffic alert system is another factor restraining market.
Segmentation: Global Automotive Rear Cross Traffic Alert System Market
- Passenger Cars
- Commercial Vehicles
By End- Users
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In March 2019, MediaTek announced the launch of their new automotive chip Autus R10 which is specially designed for automobile manufacturer so that they can detect the obstacle with 360 degree view around camera. They can be used for multiple applications like parking assistant system, automatic parking assistance, and blind spot detection and they support various driving scenario rear automatic emergency braking, cross-traffic alerts, automatic parking etc.
- In March 2014, Continental AG announced the launch of their new short range radar sensors which is specially designed for advanced driver assistance systems. This can be used for Blind Spot Detection (BSD) and Rear Cross Traffic Alert (RCTA). The main aim of the launch is to reach to the American customers and to also avoid accidents and serious injuries.
Global automotive rear cross traffic alert system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive rear cross traffic alert system market for global, Europe, North America, Asia-Pacific and South America.
Major Market Competitors/Players
Few of the major competitors currently working in the global automotive rear cross traffic alert system market are Infineon Technologies AG, Delphi Technologies, Robert Bosch GmbH, Valeo, Autoliv Inc., Continental AG, Veoneer Inc., Magna International Inc., s.m.s, smart microwave sensors GmbH., Ford Motor Company, Nissan., Aptiv, Hyundai Motor Company, InnoSenT - Innovative Radar Sensor Technology, HELLA GmbH & Co. KGaA, Lexus, SEAT, S.A., and others
Research Methodology: Global Automotive Rear Cross Traffic Alert System Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved