Radar is an electromagnetic based detecting system that works by radiating electromagnetic waves and then studying the echo or the reflected back waves. The full form of radar is RAdio Detection and Ranging. Radar system utilizes radio waves to determine the velocity, range, or angle of objects. Commercial vehicle & off-highway radar market system determines the safety of driver, passengers as well as pedestrian. It is applicable for road monitoring, to detect objects, parking assistance and works as collision mitigation and warning system. Commercial vehicle & off-highway radar enhance accuracy to measure accurate distance between vehicles to avoid collision. The functions and features of commercial vehicle & off-highway radar system help to increase driving efficiency and ensure driver and occupant safety. Increasing trend of autonomous driving is fueling the growth of the market. Rising safety concerns and stringent government laws is the support the growth of this market. As per IIHS (Insurance Institute for Highway Safety) in 2018, 4,136 people had lost their lives in the U.S. owing to large truck crashes. Such incidences are the major driver for radars for commercial vehicles. Though the influence of CONVID-19 the commercial vehicle segment will get affected for a while, owing to consumer preference of opting travel in personal vehicles and no public transport.

Region Analysis:

In the commercial vehicle & off-highway radar market, North America region is expected to account for dominate market share owing to numerous vehicles equipped with ADAS features. Early adoption of technologies will be the key factor for the growth of the radar market for commercial vehicles in the region. The presence of key players like GM, FCA, Visteon Corporation, Velodyne Lidar, Inc., and Texas Instruments Incorporated has also attributed to the growth of the North American region in the radar market for commercial vehicles.

Key Development:

• In April 2022, COMSPOC and ThothX announces partnership to deliver first commercial radar in Asia.
• In April 2022, Israel and South Korea launched a new program for radar technologies cooperation.

Segmentation:

Commercial Vehicle & Off-Highway Radar Market accounted for US$ 153.32 billion in 2020 and is estimated to be US$ 1513.52 billion by 2030 and is anticipated to register a CAGR of 26.0%.  The Commercial Vehicle & Off-Highway Radar Market is segmented by frequency, component, application and region.

• By frequency, the Commercial Vehicle & Off-Highway Radar Market is segmented into 24-Ghz and 77-81 Ghz
• By component, the Commercial Vehicle & Off-Highway Radar Market is classified into LRR, S&MRR, Mono Camera and Stereo Camera.
• By application, the Commercial Vehicle & Off-Highway Radar Market is classified into Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System (FCWS), Intelligent Parking Assistance (IPA), and Others.
• By region, North America is expected to account for major revenue share in Commercial Vehicle & Off-Highway Radar Market, followed by other regions.

Competitive Analysis:                                                                                                 

The key players operating in the Commercial Vehicle & Off-Highway Radar Market includes Robert Bosch GmbH, Continental AG, HELLA KGaA, NXP Semiconductors N.V., Denso Corporation, Delphi Automotive, Autoliv Inc., Valeo S.A., Technologies AG, and Baumer

To know more

Contact Us:

Sales

Prophecy Market Insights

U.S: 1 860 531 2574

RoW: 91 7775049802

Email- sales@prophecymarketinsights.com

Website- www.prophecymarketinsights.com

Blog- www.prophecyjournals.com