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The automotive rear cross traffic alert (RCTA) market share is expected to increase by USD 4.08 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 11.01%.
This automotive rear cross traffic alert (RCTA) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive rear cross traffic alert market segmentations by application (passenger cars and commercial vehicles) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The automotive rear cross traffic alert market report also offers information on several market vendors, including Aptiv Plc, Continental AG, DENSO Corp., Hitachi Ltd., Hyundai Mobis Co. Ltd., Infineon Technologies AG, Magna International Inc., Mazda Motor Corp., Nissan Motor Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Toyota Motor Corp., Valeo SA, Veoneer Inc., Volkswagen AG, and General Motors Co. among others.
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The growing demand for cohesive safety systems in automobiles is notably driving the automotive rear cross traffic alert (RCTA) market growth, although factors such as reliability issues leading to doubts over user acceptance may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive rear cross traffic alert (RCTA) market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Rear Cross Traffic Alert (RCTA) Market Driver
Key Automotive Rear Cross Traffic Alert (RCTA) Market Trend
Key Automotive Rear Cross Traffic Alert (RCTA) Market Challenge
Additionally, the lack of trained or technical personnel at automotive dealer sites may also pose a problem for first-time users of such technologies. Hence, system reliability is crucial in order to ensure user acceptance of advanced ADAS features, including RCTA systems.
This automotive rear cross traffic alert (RCTA) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global automotive rear cross-traffic alert (RCTA) market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive RCTA market during the forecast period.
The global automotive components and accessories market covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. The global automotive components and accessories market is expected to grow at a moderate pace. Technavio calculates the global automotive components and accessories market size based on combined revenue generated by manufacturers of automotive components and accessories.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive rear cross traffic alert market encompasses successful business strategies deployed by the key vendors. The automotive rear cross traffic alert (RCTA) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive rear cross traffic alert (RCTA) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive rear cross traffic alert (RCTA) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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33% of the market’s growth will originate from APAC during the forecast period. China and Japa are the key markets for the automotive rear cross traffic alert market in APAC. Market growth in this region will be slower than the growth of the market in South America.
Significant investments in infrastructure and rapid industrialization will facilitate the automotive RCTA market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had a negative impact on the regional market. However, the beginning of vaccination drives in early 2021 resulted in the resumption of activities as well as the strict implementation of numerous restrictions. This has slowed the disease's spread in the area. As a result, the region gradually observed a surge in economic activities and road traffic as well, which further contributed to the growth of the market in focus during the forecast period.
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The automotive RCTA market share growth in the passenger cars segment will be significant during the forecast period. The growing focus of automotive OEMs on making their vehicles safer is leading to the development of driver assistance systems that aid drivers during critical events. Moreover, the consistent increase in the demand for compact and mid-sized vehicles equipped with advanced safety features in emerging markets such as India and China is expected to propel the growth of the passenger cars segment of the global automotive RCTA market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive rear cross traffic alert market size and actionable market insights on post COVID-19 impact on each segment.
Automotive Rear Cross Traffic Alert (RCTA) Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.01% |
Market growth 2022-2026 |
$ 4.08 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.92 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
APAC at 33% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Aptiv Plc, Continental AG, DENSO Corp., Hitachi Ltd., Hyundai Mobis Co. Ltd., Infineon Technologies AG, Magna International Inc., Mazda Motor Corp., Nissan Motor Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Toyota Motor Corp., Valeo SA, Veoneer Inc., Volkswagen AG, and General Motors Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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