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.
The demand for autonomous and safety features, real-time data monitoring, government regulations, and increasing incident cases will drive the entire market for commercial and off-highway vehicle radar. The automotive industry’s transition to advanced technology is expected to drive the growth of the commercial vehicle and off-highway radar market. However, the spread of the coronavirus in 2020 will show a regional economic slowdown that will affect the automotive sector.
A full report of Commercial Vehicle & Off-Highway Radar Market is available at: https://www.orionmarketreports.com/commercial-vehicle-off-highway-radar-market/39093/
Commercial Vehicle & Off-Highway Radar Market segmentation:
The global commercial vehicle and off-highway radar market is segmented on the basis of application, frequency type, vehicle type, component type. On the basis of application, the market is segmented as adaptive cruise control (ACC), blind spot detection (BSD), forward collision warning system, intelligent park assists, autonomous emergency braking (AEB). On the basis of frequency type, the market is segmented as 24 GHz, 77-82 GHz. On the basis of vehicle type, the market is segmented as commercial vehicle, off-highway vehicle. On the basis of component type, the market is segmented as long-range radar (LRR), short & medium range radar (S&MRR), mono camera, stereo camera.
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