Global Automotive Rear Cross Traffic Alert (RCTA) Market 2019-2023 | Growing Use of Sensor Fusion Technique to Boost Demand | Technavio

Technavio has published a new market research report on the global automotive repair cross traffic alert market from 2019-2023 (Graphic: Business Wire)

LONDON--()--The global automotive repair cross traffic alert (RCTA) market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.

Over the last decade, the automotive industry has been continuously focusing on improving road safety through the adoption of various safety solutions. Human errors caused by factors such as drowsiness, loss in concentration, and fatigue are the prime cause of accidents. Thus, automobile safety has become an essential criterion for both vehicle manufacturers and customers. As a result: the adoption of the safety systems in the global automotive market is increasing significantly. As RCTA is a crucial sub-system of the ADAS, the growing emphasis on safety solutions will boost market growth during the forecast period.

As per Technavio, the growing use of sensor fusion technique for more accurate information interpretation will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automotive repair cross traffic alert (RCTA) market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global automotive repair cross traffic alert system market: Growing use of sensor fusion technique for more accurate information interpretation

Modern vehicles are equipped with various electronic systems that require a variety of sensors for cameras, radar, ultrasound, or Light Detection and Ranging (LiDAR). The sensors used in advanced safety systems operate independently, and many of them use multiple units of the same sensor type. This creates ambiguity as various units of similar sensors might interpret the same environment in different ways. This has increased the need to process and combine all the data generated by these sensors along with other inputs, leading to the development of the sensor fusion technique. This combines the information coming from all the different types of sensors. The sensor fusion concept is expected to gain significant traction among automotive OEMs during the forecast period, leading to significant market growth.

“Factors such as the inclusion of RCTA in the parking package offered by automotive OEMs, and the integration of ADAS and V2X communication will have a significant impact on the growth of the automotive repair cross traffic alert system market size during the forecast period,” says a senior analyst at Technavio.

Global automotive repair cross traffic alert (RCTA) market: Segmentation analysis

This market research report segments the global automotive repair cross traffic alert systems market by application (passenger cars, and commercial vehicles) and geographic regions (APAC, Europe, North America, South America, and MEA).

The European region led the automotive repair cross traffic alert market in 2018, followed by APAC, North America, South America, and MEA, respectively. The automotive industry in Europe is highly competitive, owing to the presence of many leading OEMs. The demand for vehicles equipped with advanced technologies and features has always been high in the region. Moreover, the adoption of advanced safety features is no more limited to luxury cars, resulting in the incorporation of ADAS technologies such as AEBS, ACC, BDS, LDWS, and RCTA. Hence, automotive RCTA has become a crucial safety technology in European vehicles.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global RCTA market is expected to post a CAGR of close to 6% during 2019-2023, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com