V2V Communication Market Analysis
The global vehicle to V2V communication market size is growing rapidly. The market growth attributes to the penetration of automotive information & communication technologies. Besides, the proliferation of sensor technologies and increasing demand & popularity for luxury cars drive the growth of the market. Moreover, the growing adoption of traffic management systems, intelligent transport management systems, grouptalk services escalates market growth.
According to Market Research Future (MRFR), the global vehicle to vehicle (V2V) communication market is poised to create a valuation of USD 24 BN by 2023, growing at 6% CAGR throughout the assessment period (2017-2023). The connectivity provided by the applied information solutions enables the infrastructure to communicate with any cloud-connected vehicles. Technologies such as applied information and the TravelSafely smartphone app connect drivers to the infrastructure, providing the first application of connected vehicle technology.
Expanding information from different foundation hotspots for everyday use by the overall population raises the size of the vehicle-to-vehicle communication market. The rising information inside autonomous vehicles for frameworks, for example, telematics, voice acknowledgment, increased reality, drive recorders, and V2V communications, would change fundamental parts in the production network. New innovations, for example, savvy mirrors would introduce new locales and providers.
New techniques for acknowledgment empowered by man-made reasoning (AI) like facial, voice, signal, and, surprisingly, human feelings open new roads to new automotive providers, parts, and administrations.
Alluring benefits of vehicle to vehicle communication advances, for example, information transmission between two vehicles through a remote medium to guarantee the riders’ traffic light and security push the market development. Then again, specialized issues connected with availability and organizations are critical factors anticipated to hinder the development of the market. By the by, the accessibility of modern advances would uphold V2V communication market development all through the determined period.
Global Vehicle to Vehicle (V2V) Communication Market – Segments
The report is segmented into four dynamics;
By Technology: Big Data Analytics, Smart Sensors, Cloud Computing, and others.
By Type: OEM Devices, Aftermarket Devices, Infrastructure Based Devices, and others.
By Application: Traffic Management System, Intelligent Transport Management System, Grouptalk Service, and others.
By Regions: Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global Vehicle to Vehicle Communication Market – Geographical Analysis
North America overwhelms the worldwide vehicle to vehicle (v2v) communication market. The biggest market share credits to the presence of significant industry players like Qualcomm, Audi, BMW, General Motors, and Toyota Motor Corporation, among others. Moreover, the early reception and rising interest for V2V communication drive the development of the market.
Additionally, high R&D ventures and progressions in innovations, for example, enormous information investigation, shrewd sensors, distributed computing, and others fuel the market development. Besides, the rising creation of cutting edge and insightful vehicles, close by the blossoming automotive sector in the district impacts the development of the market. The North American V2V communication market is projected to hold its predominance all through the assessed period.
Europe stands second in the worldwide vehicle to vehicle (V2V) communication market. Market development credits to the rising buying power and the notoriety of extravagance vehicles. Also, deeply grounded automotive sectors and the multiplying data innovation in the area validate the development of the market. The European V2V communication market is supposed to make a significant income pocket during the audit time frame.
The Asia Pacific district holds a significant offer in the worldwide vehicle to vehicle (V2V) communication market. Factors, for example, the solid presence of outstanding market players and expanded reception of associated OEM gadgets and foundation based gadgets support the territorial market development. Furthermore, propels in enormous information investigation, brilliant sensors, and distributed computing push the development of the territorial market.
Australia, Japan, South Korea, China, and India hold huge offers in the local market because of quick financial turn of events. The APAC V2V communication market is determined to develop at an amazing CAGR during the evaluation time frame.
V2V Communication Market – Competitive Landscape
Highly competitive, the V2V communication market appears fragmented due to the presence of several well-established market players. To gain a competitive share, Industry players adopt strategies such as mergers & acquisitions, expansion, and product launch. They collaborate with other players to develop innovative solutions and cut down development costs and time. Technology providers use a variety of distributions channels and are increasingly engaging social media to generate inbound leads.
Players leading the global vehicle to vehicle communication market 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) among others.
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