What Does the Vehicle-to-Vehicle (V2V) Communication Market Size and Growth Rate Look Like?
The vehicle-to-vehicle (V2V) communication market witnessed a significant upsurge in recent years, surging from $24.28 billion in 2024 to $27.1 billion in 2025 at a compound annual growth rate (CAGR) of 11.6%. This growth in the past period can be linked to heightened safety concerns, traffic congestion reduction, government regulations, and advancements in telematics and fleet management.
Looking forward, the V2V communication market is set for rapid growth, projected to hit $46.37 billion in 2029 with a compound annual growth rate (CAGR) of 14.4%. This projected growth can be attributed to increasing consumer awareness and acceptance, advancing spectrum sharing dynamics, data privacy solutions, and user-centric mobility services. Key trends for this period comprise smart contracts for autonomous driving, integration with traffic management systems, inter-industry collaboration, dynamic spectrum management, and blockchain for autonomous vehicle fleet management.
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What Are the Key Drivers Behind Vehicle-to-Vehicle (V2V) Communication Market Growth?
Growing concerns for road safety are expected to be a significant propulsion for market growth going forward. Increasing number of road accidents due to inadequate safety measures significantly impacts infrastructure, human lives, and the economy. Enhancing the safety features of vehicles and improving infrastructure can significantly reduce these accidents. For instance, according to a report published by the Department of Transportation in June 2024, traffic fatalities in 2022 significantly increased in several categories, making a compelling case for improving road safety measures. Therefore, the vehicle-to-vehicle communications market is expected to burgeon.
What Are the Major Segments Within the Global Vehicle-to-Vehicle (V2V) Communication Market?
1) By Vehicle Type: Passenger Cars, Commercial Vehicles
2) By Connectivity: Dedicated Short-Range Communication (DSRC), Cellular
3) By Deployment Type: Original Equipment Manufacturer (OEM) Devices, Aftermarket Devices
4) By Application: Traffic Safety, Traffic Efficiency, Infotainment, Payments, Other Applications
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Who Are the Major Players in the Vehicle-to-Vehicle (V2V) Communication Market?
Key players in the vehicle-to-vehicle (V2V) communication market include General Motors Company, Mercedes-Benz Group AG, Toyota Motor Corporation, Volkswagen Group, Harman International Industries, Mobileye Global Inc., Ford Motor Company, Bayerische Motoren Werke AG, Audi AG, QualComm Inc., Cisco Systems Inc., Autotalks Ltd., DENSO Corporation, Arada Systems Inc., Nissan Motor Co. Ltd., Honda Motor Company Ltd., Lear Corporation, Huawei Technologies Co. Ltd., Hyundai Motor Company, Samsung Group, Kapsch TrafficCom AG, Delphi Automotive PLC, Zhejiang Geely Holding Group Co. Ltd., Tata Communications Ltd., Visteon Corporation, Continental AG, Cohda Wireless Pty. Ltd., Ficosa S. A., Panasonic Corporation, Iteris Inc.
What Are the Emerging Trends in the Vehicle-to-Vehicle (V2V) Communication Market?
Technological advancements are becoming a significant trend within the vehicle-to-vehicle communication market. Major players are focusing on the development of new technologies to secure their market positions. For instance, Nav Wireless Technologies Pvt. Ltd., an India-based communication technology company, introduced Defense Expo in October 2022, an advanced vehicle-to-vehicle communication technology to enable armed forces to share data more securely. Defense Expo uses optical LiFi-based communication, using LEDs in vehicles to transfer data from one vehicle to another using the light spectrum.
Which Region Holds the Largest Share in the Vehicle-to-Vehicle (V2V) Communication Market?
North America was the largest contributor to the vehicle-to-vehicle (V2V) communication market in 2024. The report covers an extensive regional analysis including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Vehicle-to-Vehicle (V2V) Communication Market Report 2025 Offer?
Vehicle-to-vehicle (V2V) communication utilizes dedicated short-range communication (DSRC) as a technological medium enabling vehicles to wirelessly connect with each other. This technology creates a vehicular ad hoc network (VANET) on the road to prevent collisions and manage potential risks. The Vehicle-to-Vehicle (V2V) Communication Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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