Global Automotive Rear Cross Traffic Alert (RCTA) Market 2019-2023

Global Automotive Rear Cross Traffic Alert (RCTA) Market 2019-2023

  • June 2019 •
  • 133 pages •
  • Report ID: 5791366 •
  • Format: PDF
Global Automotive Rear Cross Traffic Alert (RCTA) Market: About this market

Automotive rear cross traffic alert is used to assist the driver by alerting them of an approaching vehicle or pedestrian when reversing the car from parking spaces. Our automotive rear cross traffic alert market analysis considers the applications of rear cross traffic alert in passenger cars and commercial vehicles. Our analysis also considers the sales of automotive rear cross traffic alert in North America, Europe, APAC, MEA, and South America. In 2018, the passenger cars segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing safety concerns will play a significant role in the passenger cars segment to maintain its market position. Also, our global automotive rear cross traffic alert market report looks at factors such as the growing demand for cohesive safety systems in automobiles, increasing emphasis on safety solutions by the automotive ecosystem, and stringent regulations governing the use of advanced safety systems. However, the reliability issues leading to doubts over user acceptance, the negative impact of the use of driver assistance systems, and multiple compliance standards complicating ADAS development may hamper the growth of the automotive rear cross traffic alert industry over the forecast period.

Global automotive rear cross traffic alert market: Overview

Increasing emphasis on safety solutions by the automotive ecosystem

Automobile companies are constantly focusing on the development of safety solutions to reduce vehicular accidents caused by human errors. Moreover, consumers have become more concerned about vehicle safety, which is encouraging automakers to adopt technologies such as ADAS in compact segment vehicles. As RTCA forms a crucial part of ADAS, the growing emphasis on safety solutions by the automotive ecosystem will drive the expansion of the automotive rear cross traffic alert market at a CAGR of close to 6% during the forecast period.

Growing use of sensor fusion technique for more accurate information interpretation

Sensor fusion technique is gaining immense popularity among automotive OEMs, particularly in luxury vehicles. Sensor fusion technology takes the input of various sensor types and uses the combined information to perceive the environment more accurately. The technology is expected to be adopted in mass segment vehicles during the forecast period. The growing use of sensor fusion technique will fuel the growth of the automotive rear cross traffic alert market during the next five years.

For the detailed list of factors that will drive the global automotive rear cross traffic alert market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of a few major players, the global automotive rear cross traffic alert market is fairly concentrated. Our robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive rear cross traffic alert manufacturers, that include Aptiv Plc, Continental AG, Magna International Inc., Robert Bosch GmbH, Valeo SA, and Veoneer Inc.

Also, the automotive rear cross traffic alert market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.