Gmi Research's blog : Commercial Vehicle & Off-Highway Radar Market size, share & Forecast
The Commercial Vehicle & Off-Highway Radar Market is expected to grow at a faster CAGR during the forecast period (2020-2027).
The factors driving growth of the Commercial Vehicle & Off-Highway Radar Market includes increasing demand for Advanced Driver Assistance Systems (ADAS), increasing cases of road accidents across the globe, emerging trend of autonomous driving and improvements in the living standards. Moreover, rising focus on reducing carbon dioxide emissions, technological advancements in 4D imaging radar, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Commercial Vehicle & Off-Highway Radar Market Growth. In addition, the increasing investments by leading players on research and development, strategic mergers, and collaborations between enterprises, rising disposable incomes and growing population growth rates, are further contributing to the market growth.
However, incompetence of radars in differentiating between multiple targets is restricting the market growth.
The prominent players operating in the Commercial Vehicle & Off-Highway Radar Market are Magna International INC, ZF Friedrichshafen AG, Texas Instruments Incorporated, Robert Bosch GmBH, Continental AG, Aptiv Plc, Valeo S.A., Denso Corporation, Infineon Technologies AG and NXP Semiconductors N.V, among others.
Based on Vehicle, the Off-Highway Vehicles segment is predicted to grow at significant CAGR during the forecast period
The radars in off-highway vehicles enhances, adapts to climatic condition automatically, hence reducing the risks of accidents, are pushing growth of the segment.
Based on Application, the Blind Spot Detection (BSD) segment is projected to expand at a robust CAGR over the forecast period attributed to rising incidences of accidents
Blind spot detection systems enhance the level of safety, reduces truckload, and provides information to the diver in blind spot, are some of the factors propelling segment’ growth.
Based on Region, the Europe region is expected to hold the largest market share during the forecast period
Presence of the leading players such as Infineon Technologies AG, ZF Friedrichshafen AG and NXP Semiconductors N.V, rising incidences of accidents, Government regulations regarding the safety of commercial vehicles and high per capita incomes, are supporting the market growth of Europe region.
Market Segmentation
Segmentation by Component
- Operational Data
- Mono Camera
- Stereo Camera
- Long Range Radar
- Short and Medium Range Radar
Segmentation by Vehicle
- Operational Data
- Commercial Vehicle
- Buses, Medium & Heavy Trucks
- Pickup Trucks & Vans
- Off-Highway Vehicles
- Construction Equipment
- Mining Equipment
- Agriculture Equipment
Segmentation by Frequency
- Operational Data
- 24GHZ
- 77-81 GHZ
Segmentation by Application
- Operational Vehicle
- Adaptive Cruise Control (ACC)
- Blind Spot Detection (BSD)
- Forward Collision Warning (FCW)
- Intelligent Park Assist (IPA)
- Automatic Emergency Braking (AEB)
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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