Commercial Vehicle & Off-Highway Radar Market

Commercial Vehicle & Off-Highway Radar Market worth $831 million by 2027

The report "Commercial Vehicle & Off-Highway Radar Market by frequency (24-GHz & 77-81 GHz), component (LRR, S&MRR, Mono Camera, and Stereo Camera), vehicle (CV & Off-highway), Application (ACC, AEB,BSD, FCW & IPA) and Region - Global Forecast to 2027" The commercial vehicle & off-highway radar market is projected to grow at a CAGR of 27.4% during the forecast period, to reach USD 831 million by 2027 from an estimated USD 153 million in 2020.

Browse 136 market data Tables and 52 Figures spread through 181 Pages and in-depth TOC on "Commercial Vehicle & Off-Highway Radar Market by frequency (24-GHz & 77-81 GHz), component (LRR, S&MRR, Mono Camera, and Stereo Camera), vehicle (CV & Off-highway), Application (ACC, AEB,BSD, FCW & IPA) and Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/commercial-vehicle-off-highway-radar-market-182016868.html

The demand for autonomous and safety features, real-time data monitoring, government mandates, and increasing accident cases will drive the overall market of radars for commercial & off-highway vehicles. The shift of the auto industry towards advanced technologies is expected to drive the growth of the commercial vehicle & off-highway radar market. However, spread of coronavirus in 2020 will be showing a economic slow down in regions which will impact the automotive sector.

AEB is expected to hold the largest share in the commercial vehicle radar market during the forecast period.

Increasing concern about the safety of passengers in commercial vehicles is the key factor in the demand for AEB. Thus, many of the government bodies are promoting the application of AEB in the vehicles. For instance, Euro NCAP offers 5-star rating to vehicle which has AEB as a standard feature. The study conducted by Euro NCAP and Australian NCAP found out that the application of AEB leads to a 38% reduction in rear-end crashes.

Commercial vehicle, in-vehicle type segment is estimated to be the fastest-growing and the largest market during the forecast period

The increasing trend towards autonomous driving in the commercial vehicle has been fueling the growth of the commercial vehicle radar market. The key factor that drives the application of radar in the commercial vehicle is the increased safety awareness among the public and the government, as 4,136 people had lost their lives in the year 2018, in the US alone due to large truck crashes as per IIHS (Insurance Institute for Highway Safety). Such occurrences are the major driver for radars for commercial vehicles.Though the impact of CONVID-19 will effect the commercial vehicle segment for a while due to consumer preference  of opting travel in personal vehicles and no public transport.

North America region is expected to have the largest share in the commercial vehicle & off-highway radar market from 2020 through 2027.

The growth of the North America region can be attributed to the most number of vehicles equipped with ADAS features. Early adoption of technologies in the region will be the key factor for the growth of the radar market for commercial vehicles. The presence of players like FCA, GM, Texas Instruments Incorporated, Visteon Corporation, and  Velodyne Lidar, Inc has also contributed to the growth of the North American region in the radar market for commercial vehicles.

The commercial vehicle & off-highway radar market is dominated by globally established players such as Robert Bosch GmBH (Germany), Continental AG (Germany), Aptiv (Ireland), Denso Corporation (Japan), and Infineon Technologies AG (Germany). For instance, in August 2017, Denso Corporation developed a 24-GHz submillimeter-wave rear and side radar sensor to help enhance vehicle safety systems. The sensor is used in the 2018 Toyota Camry released this past July. Additionally, in September 2019, a joint venture between Aptiv and  Hyundai Motor Co, to develop autonomous vehicles for the commercialization of Level 4 and 5 self-driving technologies will be driving the expansion of Aptiv capabilities in autonomous vehicles market in South Korea.

Don’t miss out on business opportunities in Commercial Vehicle & Off-Highway Radar Market . Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
AT 7586
PR Published ON
4/1/2020
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Commercial Vehicle & Off-Highway Radar Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2021 MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home