Vehicle to Vehicle (V2V) Communication Market Trends, CAGR Growth and Analytical Forecast 2023
V2V Communication Market, By Technology (Big Data Analytics, Smart Sensors), By Type (OEM Devices, Aftermarket Devices, Infrastructure Based Devices), By Application (Traffic Management System, Grouptalk Service)
Pune, India – August 22, 2017 /MarketersMedia/ —
Market Highlights
In this rapidly changing world of technology, vehicle to vehicle communication market is projected to show major growth prospects during the forecast period. Major factor driving the growth of vehicle to vehicle communication market is the increase in technological advancements and growing awareness about passengers and driver safety.
The global Vehicle to Vehicle Communication Market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the vehicle to vehicle communication market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of vehicle to vehicle communication market, out of which U.S. is majorly dominating the global demand for vehicle to vehicle communication market. This is owing to the presence of large number of established key players like General Motors and Qualcomm Technologies in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity. This is expected to be a major factor for the growth of vehicle to vehicle communication market. Growing wireless technological advancements is another major factor driving the growth of vehicle to vehicle communication market in the region.
The Vehicle To Vehicle Communication Market is growing rapidly over 6% of CAGR and is expected to reach at approx. USD 24 Billion by the end of forecast period.
V2V Communication Market Players:
• 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.)
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In the global vehicle to vehicle (v2v) communication market, Europe is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, vehicle to vehicle communication market is projected to contribute faster to the growth of revenue backed by increasing number of vehicles and growing adoption of technological advancements in the region. In terms of revenue, North America is followed by Europe region. This is owning to the presence of key players like BMW, Audi, Daimler and Volkswagen in the region.
Vehicle to Vehicle Communication Market Segmentation
The V2V Communication Market has been segmented on the basis of technology, type and application. The type segment is further bifurcated into OEM devices, aftermarket devices and infrastructure based devices. OEM devices are built in into the vehicle during the production of the vehicles. New launching cars are equipped with this technology and are anticipated to hit the roads soon.
Market Research Analysis:
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 number of vehicles in that region.
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Intended Audience
– Technology Investors
– Research/Consultancy Firms
– Infrastructure Providers
– Original equipment manufacturers (OEMs)
– OEM technology solution providers
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Source: MarketersMedia
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