The vehicle-to-vehicle (v2v) communication global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Vehicle to Vehicle V2V Communication Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The vehicle-to-vehicle (v2v) communication market size has grown rapidly in recent years. It will grow from $22 billion in 2023 to $24.82 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to road safety concerns, government regulations, traffic congestion reduction, telematics and fleet management.
The vehicle-to-vehicle (v2v) communication market size is expected to see rapid growth in the next few years. It will grow to $40.28 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to consumer awareness and acceptance, dynamic spectrum sharing, data privacy solutions, user-centric mobility services.. Major trends in the forecast period include smart contracts for autonomous driving, integration with traffic management systems, cross-industry collaboration, dynamic spectrum management, blockchain for autonomous vehicle fleet management, cross-device authentication..
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Scope Of Vehicle to Vehicle V2V Communication Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
Growing concern for road safety is expected to propel the growth of the vehicle-to-vehicle communications market going forward. Road traffic injuries cause considerable damage to infrastructure and human lives as well as economic losses to individuals, their families, and nations. Road accidents can be prevented by improving the safety features of vehicles, designing safer infrastructure, incorporating road safety features, transport planning, enforcing laws relating to key risks, and raising public awareness. There are so many accidents taking place because of a lack of road safety and the measures taken to road safety and there is a need for vehicle-to-vehicle communications to provide road safety. For Instance, in June 2021, according to the World Health Organization, over 1.3 million people die every year as a result of road traffic accidents, with low and middle-income nations accounting for 93% of all traffic deaths. In the African region, road traffic casualties account for more than 90% of all deaths. WHO is providing technical support to the countries for road safety. Therefore, growing concern for road safety drives the vehicle to the vehicle communications market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The vehicle-to-vehicle (v2v) communication market covered in this report is segmented –
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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Regional Insights –
North America was the largest region in the vehicle-to-vehicle(V2V) communication market in 2023. The regions covered in the vehicle-to-vehicle (v2v) communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the vehicle-to-vehicle (v2v) communication market report are 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, Lucky Goldstar Electronics, 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.
Table of Contents
1. Executive Summary
2. Vehicle to Vehicle V2V Communication Market Report Structure
3. Vehicle to Vehicle V2V Communication Market Trends And Strategies
4. Vehicle to Vehicle V2V Communication Market – Macro Economic Scenario
5. Vehicle to Vehicle V2V Communication Market Size And Growth
…..
27. Vehicle to Vehicle V2V Communication Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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