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.
Analysis and discussion of important industry trends, market size, market share estimates are also covered in this global automotive rear cross traffic alert system market report. The usefulness of SWOT analysis and Porter’s Five Forces analysis in generating market research report makes it preferable by the businesses and hence also used while preparing this report. Automotive rear cross traffic alert system market report consists of market analysis by regions, especially North America, China, Europe, Southeast Asia, Japan, and India, focusing top manufacturers in global market, with production, price, revenue, and market share for each manufacturer. Being the most suitable example of the key market attributes, this automotive rear cross traffic alert system report has been prepared by keeping in mind every market related aspect.
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.
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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
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
By End- Users
Middle East and Africa
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.
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
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