Automotive Rear Cross Traffic Alert System Market Key Opportunities and Forecast Up To 2025
Rear cross traffic alert systems are primarily used to identify other vehicles in the surrounding of the vehicle. When the system senses the existence of other vehicles in its surroundings, an indicator bulb situated on the side view mirror starts to blink. Moreover, while on the reverse gear, the rear cross traffic alert system delivers a text alert as well as a warning chime as soon as it senses the presence of other vehicles in its vicinity. It also point out the presence or absence of other vehicles prior to changing lanes or overtaking thus confirming the freeness of the lane. When the turn signal is activated before changing lanes, the alert system leads to a vibration in the steering wheel in order to warn the driver about his intentions. In some cases, the rear cross traffic alert system helps in thwarting a crash. On the basis of warning strategies and costs, these systems have a number of different sensor components such as camera, radar, and an ultrasonic sensor.
The global automotive rear cross traffic alert system market is poised to show a steady growth curve during the forecast period. The Euro New Car Assessment Program (NCAP) has intensified its norms relating to driver assistance safety systems. This is likely to be one of the major driving factors that will boost the growth of the global automotive rear cross traffic alert system market in the coming years. Moreover, increasing regulatory norms from various bodies including The European Union (EU) and the United Nations Economic Commission for Europe (UNECE) have made safety requirements mandatory. This has made the original equipment manufacturers (OEMs) to incorporate driver assistance systems into their produced vehicles. As obeying regulations and adhering to better safety quotient help the manufacturers to have a competitive edge, there is likely to be an increasing adoption of rear cross traffic alert system during the course of the forecast period.
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There have been massive developments in the fields of automotive sensors and microcontrollers resulting into further miniaturization of lenses and sensors that is likely to lengthen the scope of application of cameras detecting and monitoring surrounding and in-car conditions. For example, there are sensors detecting various parameters including drivers' eye and locus of the drivers’ head. In adverse situations, they trigger ADAS advanced driver assistance systems in order to take necessary actions. The adoption of infrared imaging sensors instead CMOS image sensors in these systems is likely to boost the overall automotive rear cross traffic alert system market during the forecast period.
The global automotive rear cross traffic alert system market is segmented on the basis of end user and geography. By end user, the market is segmented into OEMs and aftermarket. The OEM segment is likely to occupy a lion’s share in the global automotive rear cross traffic alert system market. Increasing implementation of rear cross traffic alert system by the OEMs is likely to encourage the growth of this segment in the global market.
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In terms of geography, the global automotive rear cross traffic alert system market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is likely to dominate the global market during the forecast period. The implementation of rear cross traffic alert system is has been made mandatory in this region in order to curb collisions and road accidents. This has led to the dominance of this region in the global automotive rear cross traffic alert system market.
The leading manufacturers in the global automotive rear cross traffic alert system market are Bosch, Autoliv, Delphi, Continental, Valeo, and Infineon Technologies.
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