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Off-highway RADAR Market: Introduction

  • Global restrictions enacted by various regulatory authorities pertaining to the safety of vehicle passengers and pedestrians are expected to propel the global off-highway RADAR market. The off-highway RADAR is a sensor technology that enables vehicles to detect blind spots and other obstacles. This technology alerts the driver in case a vehicle enters in the blind spot radius of the vehicle and prevents vehicle collisions.

Key Drivers of Off-highway RADAR Market

  • Increase in trends toward artificial intelligence and autonomous vehicles is expected to drive the global off-highway RADAR market. The automotive industry is undergoing a fundamental transformation and automakers are integrating advanced technologies in their vehicles. For instance, in September 2019, a joint venture between Aptiv and Hyundai Motor Co, is expected to develop autonomous vehicles for the commercialization of Level 4 and 5 self-driving technologies. This, in turn, is expected to shift trend toward autonomous vehicles in South Korea.
  • Autonomous vehicles have the potential to reduce deaths and injuries caused by accidents, particularly those resulting from driver distraction. These vehicles are expected to consume lesser fuel and decrease CO2 emissions. Such benefits offered by autonomous vehicles are expected to propel the global off-highway RADAR market.
  • Rising urbanization and awareness about connectivity coupled with globalization is shifting consumer preference from manual operating vehicles to new vehicle models powered by advanced technologies including autonomous driving and integrated mobility. This, in turn, is expected to drive the global off-highway RADAR market.
  • Increase in demand for real-time data monitoring reinforced by government mandates is anticipated to offer significant opportunities for players engaged in the design and development of RADAR technology catering to the off-highway RADAR market. Major players operating in the automotive industry are actively planning strategies to implement autonomous driving technology in vehicles, enabling them to gain a competitive advantage over other players in the market. Autonomous vehicle technology enables implementation of real-time monitoring services in vehicles, which enables efficient vehicle monitoring for players engaged in vehicle fleet management services. This, in turn is expected to drive the global off-highway RADAR market.

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North America to dominate Off-highway RADAR Market

  • In terms of region, the global off-highway RADAR market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
  • Based on the region, Europe is anticipated to lead the market during the forecast period. Governments of countries in Europe are proactively expanding their initiatives toward the safety of vehicles. This, in turn is expected to fuel the demand for off-highway RADAR technology in countries across Europe and consequently, boost the off-highway RADAR market in the region.

Key Players Operating in Off-highway RADAR Market

The global off-highway RADAR market is highly concentrated due to the presence of top manufacturers. A few key players operating in the off-highway RADAR market are:

  • Robert Bosch GmbH
  • Continental AG
  • Aptiv Plc
  • Denso Corporation
  • Infineon Technologies AG
  • NXP Semiconductors N.V
  • Magna International INC
  • ZF Friedrichshafen AG
  • Texas Instruments Incorporated
  • Valeo SA

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Global Off-highway RADAR Market: Research Scope

Global Off-highway RADAR Market, by Product Type

  • Long Range Radar
  • Short and Medium Range Radar

Global Off-highway RADAR Market, by RADAR Frequency

  • 24GHZ
  • 77-81 GHZ

Global Off-highway RADAR Market, by Application

  • Adaptive Cruise Control (ACC)
  • Blind Spot Detection (BSD)
  • Forward Collision Warning (FCW)
  • Intelligent Park Assist (IPA)
  • Automatic Emergency Braking (AEB)
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Offhighway Radar Market