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

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MarketsandMarkets Presents

Commercial Vehicle Off-Highway Radar Market
worth 831 million by 2027
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ommercial-vehicle-off-highway-radar-market-1820168
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The report "Commercial Vehicle Off-Highway
Radar Market by frequency (24-GHz 77-81 GHz),
component (LRR, SMRR, 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 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. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id182016868
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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.
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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. To speak to our analyst for a
discussion on the above findings, click Speak to
Analyst 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.
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• Request FREE Sample Report _at_ https//www.marketsan
  dmarkets.com/requestsampleNew.asp?id182016868
• Key questions addressed by the report
• Where will all these developments take the
  industry in the mid- to long-term
• How is the increasing adoption of electric
  vehicles and changing environmental norms
  affecting the commercial vehicle radar market?
• What are the features in which mono camera
  outperforms in commercial vehicles?
• Who are the key players in the market, and how
  intense is the competition?
• How will the combination of radar and 4D vision
  will work in a real-world situations?

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