Market Research Future published a research report on “Vehicle to Vehicle (V2V) Communication Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis of Vehicle to Vehicle Communication Market
Cadillac, a division of U.S. based General Motors, is launching its vehicle to vehicle communication with three alerts from the vehicles up to 300 meters down the lane whereas Volvo is set debut its vehicle to vehicle communication this year with all its vehicles in the 90 series which will be equipped with vehicle to vehicle communication technology. Its technology is co-developed with the Swedish telecom company Ericsson, which will allow sending and receiving of messages in case of slippery roads or other hazards.
North America region holds the largest market share of the global market of vehicle to vehicle communication. U.S. is majorly dominating the share owing to the presence of key players like General Motors in the region. Presence of advanced infrastructure is another major factor driving the growth of vehicle to vehicle communication market in the region.
Vehicle to vehicle communication market has been segmented on the basis of technology, type and application. The technology segment is further bifurcated into big data analytics, smart sensors, cloud computing and others. Sensors allow the driver and the passengers to sense the traffic congestion as well as the help in enhancing the driving experience of the passengers.
Vehicle to vehicle communication allows data transmission between two vehicles through a wireless medium in order to ensure traffic control and safety of the riders. Growing concerns about the road safety is major factor driving the growth of vehicle to vehicle communication market. Vehicle to vehicle communication is a framework which creates an ad hoc network which reduces dependency on any other technology. So this makes it platform independent and also very cost efficient. Vehicle to vehicle communication is a new brainchild but is expected to hit the roads sooner.
The Global Vehicle To Vehicle Communication Market is expected to grow at approx. USD 24 Billion by 2023, at 6% of CAGR between 2017 and 2023.
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The prominent players in vehicle to vehicle communication market are – BMW (Germany), Audi (Germany), Daimler AG (Germany), General Motors (U.S.), Volvo Cars (Sweden), Toyota Motor Corporation (Japan), Volkswagen (Germany), Qualcomm Technologies, Inc. (U.S.), AutoTalks Ltd (Israel), Delphi Automotive LLP (U.K.) among others.
Vehicle to vehicle communication market can be segmented on the basis of following:
- Big Data Analytics
- Smart Sensors
- Cloud Computing
- OEM Devices
- Aftermarket Devices
- Infrastructure Based Devices
- Traffic Management System
- Intelligent Transport Management System
- Grouptalk Service
The regional analysis of vehicle to vehicle communication market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Europe is projected to grow at the fastest rate during the forecast period. The major growth in vehicle to vehicle communication market in North America is attributed to technical advancements and increasing awareness about road safety in that region.
- Technology Investors
- Research/Consultancy Firms
- Infrastructure Providers
- Original equipment manufacturers (OEMs)
- OEM technology solution providers
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