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The global commercial vehicle & off-highway radar market has been segmented on the basis of component, vehicle, frequency, application, and region. Based on component, the market is segmented into operational data, mono camera, stereo camera, long range radar, and short and medium range radar. Based on vehicle, the market is segmented into operational data, commercial vehicle, buses, medium & heavy trucks, pickup trucks & vans, off-highway vehicles, construction equipment, mining equipment, and agriculture equipment.<br><br>Visit us: https://www.gmiresearch.com/report/commercial-vehicle-off-highway-radar-market/
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Commercial Vehicle & Off- Highway Radar Market
This report researches and evaluates the impact of COVID-19 outbreak on the market, including potential opportunities and challenges, drivers, and risks associated with the market. We present a detailed assessment of market growth based on numerous scenarios.
Market Overview The market report offers a detailed analysis of the market size, regional and country-level market size, segmentation, market growth, market share, competitive landscape, and the impact of domestic and global leading players.
Market Drivers The accelerating demand for autonomous commercial vehicles at the global level is the major factor that is surging the growth of the commercial vehicle & off-highway radar market size. The automotive industry is going through a transformation and adopting integrated approaches to create innovative development in the industry. Megatrends such as rapid urbanization, pollution, connectivity, and globalization are powering the shift away from manual operating vehicles to new business models, including autonomous driving and integrated mobility. The autonomous vehicles have the potential to decrease deaths and injuries caused by accidents, particularly those caused due to the driver’s distraction. These vehicles will also reduce CO2 emissions and consumes lesser fuel. The combination of these factors offered by autonomous vehicles will surge the market’s demand.
The strong demand for real-time data monitoring reinforced by government mandates will create numerous opportunities for the market growth. Various global giants in the automotive industry are actively planning different strategies to implement the autonomous driving concept to the vehicles in order to capture the highest share in the market. The continuous technological development will allow real-time monitoring services that are convenient time and cost-saving. In addition to this, the rising awareness related to the remarkable advantages offered by the radar systems, including easy detection of objects that are at the side, front, or back of the vehicle, will encourage many end-users to opt for these systems in the coming years. On the other edge of the spectrum, the inability of radars to distinguish between different targets is likely to restrain the market’s growth.
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