Vehicle to Vehicle Communication Industry to Accrue 6% CAGR by 2023

Vehicle to Vehicle Communication Industry Overview

Vehicle to vehicle communication is used to ensure the safety of the riders and traffic control through advanced sensors and technologies. V2V communication aids the driver with gathering real-time information around him through the internet and other connected smart devices inside as well as outside of the car. V2V communication with other vehicles that are traveling on the same road and can exchange information regarding accidents, weathers, roadblocks, and traffic. This helps in the avoidance of traffic congestion and enhances the experience of the driver and passengers. Elevation in concerns towards road safety is one of the primary reasons driving the global vehicle to vehicle Communication Industry.

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Market Research Future (MRFR) in their latest analysis, has concluded that the global vehicle to vehicle (V2V) Communication Industry is expected to register a 6% CAGR over the forecast period. Vehicle to vehicle communication is one of the most focused aspects of technological developments in the automotive industry. Even though original equipment manufacturers are already offering a range of in-car integrated solutions, these solutions seldom go hand in hand with the actual consumer needs. Hence, efforts on the part of original equipment manufacturers (OEMs) to integrate useful services are witnessed, which in turn are driving the global vehicle to vehicle Communication Industry through the assessment period. Vehicle to vehicle communication is also costly, owing to the heavy research and developments investments made for the advancements of the same. Due to this, the growth of the V2V Communication Industry is expected to witness hindrance in growth.

Key Players

Noteworthy players, as profiled in the MRFR analysis, include Audi (Germany), BMW (Germany), Daimler AG (Germany), Volvo Cars (Sweden), General Motors (US), Toyota Motor Corporation (Japan), Qualcomm Technologies, Inc. (US), Volkswagen (Germany), AutoTalks Ltd (Israel), and Delphi Automotive LLP (UK).

Industry Update

August 2019: Commsignia, a Hungarian V2X solutions company, recently announced that they received a total of USD 11 million in a fundraising round led by Karma Ventures and Samsung Catalyst Fund with a few other investors.

Market Segmentation

In MRFR analysis, the vehicle to vehicle Communication Industry has been segmented by technologies, types, application, and region. Based on technologies, the market is segmented into big data analytics, smart sensors, and cloud computing. Based on types, the V2V Communication Industry is segmented into OEM devices, infrastructure-based devices, and aftermarket devices. Based on application, the market is segmented into intelligent transport management system, traffic management system, and group talk service.

Detailed Regional Analysis

The Vehicle to Vehicle (V2V) Communication Industry is segmented into the regions of North America, Asia Pacific, Europe, and Rest of the World. North America is currently leading the vehicle to vehicle Communication Industry by accruing for the largest share of the market. North America is also estimated to retain its market dominance over the forecast period. This can be ascribed to the burgeoning technological advancements in the region, coupled with the availability of advanced infrastructure. In North America, the US is likely to lead the country-specific V2V Communication Industry. This can be owed to the presence of several market giants in the region.

Europe is expected to realize the second-largest share of the vehicle to vehicle Communication Industry, following North America. This can be accredited to the accelerating automotive sector in the region. Further, high standard of living of consumers residing in European countries, and high investments in the automotive industry are some of the market stimulants in the region. Additionally, technical advancements and increasing awareness regarding road safety are fostering the growth of the regional V2V Communication Industry. Asia Pacific is estimated to arise as the market with the fastest accrued growth over the review period.

LIST OF TABLES

TABLE 1 VEHICLE TO VEHICLE COMMUNICATION INDUSTRY, BY TECHNOLOGY

TABLE 2 VEHICLE TO VEHICLE COMMUNICATION INDUSTRY, BY TYPE

TABLE 3 VEHICLE TO VEHICLE COMMUNICATION INDUSTRY, BY APPLICATION

TABLE 4 VEHICLE TO VEHICLE COMMUNICATION INDUSTRY, BY REGIONS

TABLE 5 NORTH AMERICA VEHICLE TO VEHICLE COMMUNICATION INDUSTRY, BY TECHNOLOGY

Continued……

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LIST OF FIGURES

FIGURE 1 RESEARCH TYPE

FIGURE 2 VEHICLE TO VEHICLE COMMUNICATION INDUSTRY, BY TECHNOLOGY (%)

FIGURE 3 VEHICLE TO VEHICLE COMMUNICATION INDUSTRY, BY TYPE (%)

FIGURE 4 VEHICLE TO VEHICLE COMMUNICATION INDUSTRY, BY APPLICATION (%)

FIGURE 5 VEHICLE TO VEHICLE COMMUNICATION INDUSTRY, BY REGIONS (%)

Continued……

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