October 15, 2019
According to the new research available at MarketStudyReport.com under the title ‘Global Vehicle-To-Vehicle (V2V) Communication Market Size, Status and Forecast 2019-2025’, the worldwide vehicle-to-vehicle (V2V) communication market is anticipated to amass US $3810 million by the year 2025.
Vehicle-to-vehicle (V2V) communication technology permits communication of motorized vehicles with each other to offer enhanced awareness of the surrounding environment and information related to the future actions of the other vehicles. This helps in avoiding accidents at blind spots and improves user safety.
Increasing number of road accident casualties and subsequent damage and medical cost is compelling the government to regulate automotive industry and take initiatives to improve road safety. Original equipment manufacturers are continuously participating with government authorities for the advancement of vehicular communication technology, thereby augmenting the V2V communication market growth.
AS per the report, vehicle-to-vehicle communication market was worth US $190 million in 2019 and is anticipated to increase at a CAGR of 45.8% by the year 2025. The report also offers a comprehensive insight about the segmental shares, trends, drivers, challenges, and opportunities impacting the industry growth.
The worldwide V2V communication market is examined on the basis of product type, application spectrum and regional landscape. Based on the product type, the market is fragmented as dedicated short-range communication (DSRC) and cellular based technology.
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Considering the application spectrum, the market is segmented as commercial vehicles and passenger cars. While speaking of the regional landscape, vehicle-to-vehicle communication market is analyzed for regions, namely, Europe, United States, China, Southeast Asia, Japan, Central & South America, and India.
The prominent manufacturers operating in V2V communication market include Kia, Daimler AG, Hyundai, General Motors, Audi, Toyota, Volkswagen, Delphi Automotive PLC, Nissan, Honda, Harman International Industries, Inc., Ford Motor Co., and Mobileye NV.