Global Commercial Vehicle & Off-Highway Radar Market By Frequency (24 GHz, 77-82 GHz), By Component (LRR, S&MRR, Mono Camera, Stereo Camera), By Vehicle (Commercial Vehicles, Off-highway Vehicles), By Application (ACC, BSD, Forward Collision Warning System, Intelligent Park Assist, AEB), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

A commercial vehicle is a vehicle that is authorized to transport goods and materials for both business and individual purposes. A commercial vehicle features seats for two or three passengers in the front portion (cab) beside the driver’s seat and is specifically built to carry vast amounts of materials or even to tow large-size cargo. Off-highway radar is a sensor that allows cars to detect blind spots and other potential hazards.

Detailed Segmentation –

The global commercial vehicle & off-highway radar market is segmented on the basis of – Frequency Type, Component Type, Vehicle Type, Application, and Region. The detailed segmental description is represented below:

Based on Frequency Type:

• 24 GHz
• 77-82 GHz

Based on Component Type:

• Long-Range Radar (LRR)
• Short & Medium Range Radar (S&MRR)
• Mono Camera
• Stereo Camera

Based on Vehicle Type:

• Commercial Vehicles
• Off-highway Vehicles

Based on Application:

• Adaptive Cruise Control (ACC)
• Blind Spot Detection (BSD)
• Forward Collision Warning System
• Intelligent Park Assist
• Autonomous Emergency Braking (AEB)

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics –

Drivers for the Global Commercial Vehicle & Off-Highway Radar Market:

The increasing demand for autonomous commercial vehicles on a global-level is a primary factor propelling the revenue growth of this market. The automobile sector is undergoing a rapid transition, and it is embracing integrated techniques to spur innovation outcomes.

Robust urbanization and globalization rates, increasing pollution levels, as well as the need for better connectivity are powering the transition away from manual vehicles and towards new business models such as integrated mobility and autonomous driving.

Autonomous vehicles have the potential to reduce accident-related deaths and injuries, particularly those caused by driver distraction. All these advantages will help to augment this target market.

Restraints for the Global Commercial Vehicle & Off-Highway Radar Market:

Signal interferences that affect radar systems and the inability to identify multiple targets by off-highway radar sensor devices is also a factor that is anticipated to hamper the revenue growth of this market.

Opportunities for the Global Commercial Vehicle & Off-Highway Radar Market:

The increasing demand for real-time data monitoring, bolstered by government obligations, will provide the industry with numerous potential prospects. The global automotive industry is actively planning strategies to incorporate autonomous driving in automobiles, which will help them obtain a competitive advantage over their competition. This technology advancement will enable time and cost-effective, real-time monitoring services.

Aside from that, increased awareness of the remarkable benefits offered by radar systems, such as easy detection of objects on the vehicle’s side, front, or back, is expected to increase the number of potential customers. These factors will provide new business opportunities for this market.

Competitive Landscape –

Key players in this market are –

• Analog Devices Inc.
• Aptiv Plc
• Continental AG
• Hella KGaA Hueck and Co. Ltd.
• Infineon Technologies AG
• Magna International Inc.
• NXP Semiconductors N.V.
• Robert Bosch GmbH
• Valeo S.A
• Texas Instruments Incorporated
• ZF Friedrichshafen AG
• others

Key developments –

2020:

• In February 2020, HELLA announced its most recent radar technology of 77 GHz. Initially, the company would only supply it to Asian truck and bus manufacturers.

2019:

• Continental had revealed that the 5th generation automotive radar would be available in 2019. The new detector has a larger capacity and is built on a scalable modular basis that accommodates the various requirements of car manufacturers and electrical-electronic (E/E) designs with graduated function scopes and flexibility.
• In November 2019, Denso and Metawave teamed up to speed-up the development of smart radar systems for self-driving automobiles. Metawave has been working on radar sensing with their cutting-edge analog beam-steering radar, which, according to the business, has a longer range, higher resolution, higher accuracy, and intelligent object classification than conventional detectors.

For the Commercial Vehicle & Off-Highway Radar Market research study, the following years have been considered to estimate the market size: