Automotive Rear Cross Traffic Alert (RCTA) Market by Application and Geography - Forecast and Analysis 2022-2026

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.

What will the Automotive Rear Cross Traffic Alert (RCTA) Market Size be During the Forecast Period?

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"North America is one of the pioneers in the adoption of innovative automotive technologies owing to the large presence of the early adopters' customer segment. As a result, ADAS technologies such as RCTA are witnessing high demand in the region."

Automotive Rear Cross Traffic Alert (RCTA) Market: Key Drivers, Trends, and Challenges

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

• The growing demand for cohesive safety systems in automobiles is one of the key drivers supporting the automotive rear cross traffic alert (RCTA) market growth.
• Safety has become a critical factor in vehicles due to regulatory and end-user pressure. Modern vehicles incorporate various safety features, including both passive and active safety systems.
• Advances such as cohesive safety systems have enabled a new level of occupant protection. A cohesive safety system includes the integration of various safety systems that have a common objective or share common components.  
• Most of the prominent OEMs are offering cohesive safety systems to increase vehicle safety and provide better occupant protection. Moreover, BSD is the most common safety system with which the RCTA is offered by automotive OEMs.
• The growing demand for efficient safety systems in the automotive market is increasing the demand for cohesive safety systems. Hence, the growing demand for cohesive safety systems is expected to benefit the global automotive RCTA market.

Key Automotive Rear Cross Traffic Alert (RCTA) Market Trend

• The inclusion of RCTA in the parking package offered by automotive OEMs is one of the key automotive rear cross traffic alert (RCTA) market trends contributing to the market growth.
• The high traffic congestion in urban areas leads to the availability of tight parking spaces. Additionally, reversing vehicles out of such tight parking spaces increases the risk of a collision as the driver's vision is often obscured by large vehicles or other objects in the parking space. Hence, more customers are demanding parking assistance technologies in their vehicles. 
• Most modern vehicles currently incorporate basic park assist technologies. For instance, compact segment vehicles incorporate a reverse parking sensor, while reverse cameras are also integrated with vehicles belonging to all segments.
• The trend of offering numerous technologies related to parking will have a positive impact on the growth of the market. For instance, Daimler offers a Parking Package in its Mercedes-Benz models, which includes active parking assist, and reversing cameras. Such technologies are expected to propel the market growth in the near future.

Key Automotive Rear Cross Traffic Alert (RCTA) Market Challenge

• Reliability issues leading to doubts over user acceptance is one of the factors limiting the automotive rear cross traffic alert (RCTA) market growth.
• The sensors and systems that deliver vehicle automation need to be reliable and not be prone to failure.
• The purpose of any of the automotive safety systems is defeated if the technology is tuned to generate unreliable alerts. Therefore, vendors in the market need to consider such consequences if they must deliver as per the expectations of users.
• In the recent past, RCTA systems have faced a backlash on account of their unreliability. For instance, in 2015, the American Automobile Association (AAA) claimed that RCTA comes with a lot of limitations, and also announced that the RCTA system has a failure rate in detecting motorcycles, bicycles, passing vehicles, and pedestrians. 

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.

Parent Market Analysis

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.

Market Overview

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.

Who are the Major Automotive Rear Cross Traffic Alert (RCTA) Market Vendors?

The report analyzes the market’s competitive landscape and 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
• General Motors Co.

 

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.

Product Insights and News

• infineon.com - The automotive segment focuses on designing, developing, manufacturing, and marketing semiconductor products used in the automotive industry.
• infineon.com - The company offers Rear Cross Traffic Collision Avoidance system which is a high-tech safety system that can detect oncoming vehicles when reversing.

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.

Automotive Rear Cross Traffic Alert (RCTA) Market Value Chain Analysis

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.

Which are the Key Regions for Automotive Rear Cross Traffic Alert (RCTA) Market?

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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.

What are the Revenue-generating Application Segments in the Automotive Rear Cross Traffic Alert (RCTA) Market?

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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.

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What are the Key Data Covered in this Automotive Rear Cross Traffic Alert (RCTA) Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive automotive rear cross traffic alert (RCTA) market growth during the next five years
• Precise estimation of the automotive rear cross traffic alert (RCTA) market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive rear cross traffic alert (RCTA) industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive rear cross traffic alert (RCTA) market vendors

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