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.

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.

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
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  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Rear Cross Traffic Alert System Market