Overview and Scope
Vehicle-to-vehicle (V2V) communication is a term used to describe a technology used in automobiles for dedicated short-range communication (DSRC). This technology enables vehicles to communicate with one another via wireless components and create a vehicular ad hoc network (VANET) on the road to prevent vehicle collisions and help drivers manage potential risks.
Sizing and Forecast
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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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
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
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The vehicle-to-vehicle (v2v) communication market report table of contents includes:
1. Executive Summary
2. Vehicle-to-Vehicle (V2V) Communication Market Characteristics
3. Vehicle-to-Vehicle (V2V) Communication Market Trends And Strategies
4. Vehicle-to-Vehicle (V2V) Communication Market – Macro Economic Scenario
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31. Global Vehicle-to-Vehicle (V2V) Communication Market Competitive Benchmarking
32. Global Vehicle-to-Vehicle (V2V) Communication Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Vehicle-to-Vehicle (V2V) Communication Market
34. Vehicle-to-Vehicle (V2V) Communication Market Future Outlook and Potential Analysis
