The global vehicle to V2V technology market 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, group talk services escalates market growth.
As per Market Research Future (MRFR), the worldwide vehicle to V2V technology market is ready to make a valuation of USD 24 BN by 2027, developing at 6% CAGR all through the evaluation period (2017-2023). The availability given by the applied data arrangements empowers the foundation to speak with any cloud-associated vehicles. Innovations, for example, applied data and the TravelSafely cell phone application associate drivers to the foundation, giving the principal use of associated vehicle technology.
Expanding information from various foundation hotspots for everyday use by the overall population raises the size of the vehicle-to-vehicle correspondence market. The rising information inside independent vehicles for frameworks, for example, telematics, voice acknowledgment, increased reality, drive recorders, and V2V interchanges would change important parts in the production network. New advances, for example, savvy mirrors would introduce new locales and providers.
New strategies for acknowledgment empowered by man-made consciousness (AI) like facial, voice, motion, and, surprisingly, human feelings open new roads to new auto providers, parts, and administrations.
Alluring benefits of vehicle-to-vehicle correspondence advances, for example, information transmission between two vehicles through a remote medium to guarantee the riders’ traffic signal and security push the market development. Then again, specialized issues connected with availability and organizations are critical variables anticipated to block the development of the market. By and by, the accessibility of advanced innovations would uphold V2V correspondence market development all through the anticipated period.
Global Vehicle to V2V technology 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, Group talk 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 dominates the global vehicle to V2V technology market. The largest market share attributes to the presence of major industry players such as Qualcomm, Audi, BMW, General Motors, and Toyota Motor Corporation, among others. Besides, the early adoption and rising demand for V2V communication drive the growth of the market.
Moreover, high R&D investments and advancements in technologies, such as big data analytics, smart sensors, cloud computing, and others fuel the market growth. Furthermore, the increasing production of advanced and intelligent vehicles, alongside the burgeoning automotive sector in the region influences the growth of the market. The North American V2V communication market is projected to retain its dominance throughout the estimated period.
Europe stands second in the worldwide vehicle to V2V technology market. Market development ascribes to the rising buying power and the notoriety of extravagance vehicles. Besides, deeply grounded car areas and the multiplying data technology in the locale validate the development of the market. The European V2V correspondence market is supposed to make a significant income pocket during the survey time frame.
The Asia Pacific locale holds a significant offer in the worldwide vehicle to V2V technology market. Factors, for example, the solid presence of outstanding market players and expanded reception of associated OEM gadgets and foundation based gadgets help the local market development. Moreover, progresses in huge information examination, brilliant sensors, and distributed computing push the development of the local market.
Australia, Japan, South Korea, China, and India hold critical offers in the local market because of fast financial turn of events. The APAC V2V correspondence market is guage to develop at a great CAGR during the appraisal 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.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)