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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Automotive Rear Cross Traffic Alert Market Outlook
The global automotive rear cross traffic alert market is expected to grow at a CAGR 6.2% to reach a value of USD 2.61 billion during the forecast period of 2024-2032.
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The increasing concern for road safety is resulting in the rise in demand for the automotive rear cross traffic alert system to minimise vehicular accidents caused by human errors. Europe dominated the market in 2018 due to growing awareness regarding vehicle safety in the region.
Market Segmentation
Rear cross traffic alert is intended to warn the driver about the back-traffic. Automotive rear cross traffic alert finds its applications in passenger cars and commercial vehicles.
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The EMR report looks into the regional automotive rear cross traffic alert markets like the North America, Latin America, Europe, Middle East and Africa, and Asia Pacific.
Market Analysis
The global automotive rear cross traffic alert industry is being driven by implementation of sensor fusion technology in automotive industry. The market is further aided by the growing emphasis on road safety due to the increasing cases of road accidents. Passenger car is the leading segment due to growing demand for compact and medium-sized cars, particularly in emerging economies like India and China. While, Europe dominates the market, Asia Pacific is also an emerging market for the product, owing to the rising demand for commercial and passenger cars. Moreover, in developing economies like China, the implementation of safety regulations, like the China New Car Assessment Program is encouraging the producers to include advanced safety features in their vehicles, which further aids the market.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global automotive rear cross traffic alert industry, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Continental AG
- Robert Bosch GmbH
- Infineon Technologies AG
- Veoneer Inc.
- Autoliv
- Magna International Inc.
- Aptiv
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Distribution Channels |
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| Breakup by Applications |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 1.64 billion.
The market is projected to grow at a CAGR of 6.2% between 2024 and 2032.
The market is estimated to witness a healthy growth to attain about USD 2.61 billion by 2032.
The major drivers of the market include rising urbanisation, growing automotive sector, the deployment of sensor fusion technology in vehicles, and rising awareness regarding road safety.
The growing implementation of road safety regulations and technological advancements and innovations are key trends propelling the growth of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of automotive rear cross traffic alert are ultrasonic and radar.
The several distribution channels of automotive rear cross traffic alert in the market are OEMs and aftermarket.
The significant applications of automotive rear cross traffic alert in the market are passenger cars and commercial vehicles.
The major players in the market are Continental AG, Robert Bosch GmbH, Infineon Technologies AG., Veoneer Inc., Autoliv, Magna International Inc., Aptiv and Others.
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