Vehicle to vehicle V2V communication Market, By Connectivity Type (Cellular based technology, and DSRC), By Deployment Type (OEM devices, and Aftermarket devices), By Application (Traffic Safety, Traffic efficiency, Infotainment, payments and other applications), By End-use (Passenger Cars, and Commercial Vehicles),By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : Jun 2023

Code : CMI892

Pages :180

Formats :

Excel and PDF

Industry : Automotive and Transportation

Vehicle To Vehicle V2v Communication MarketSize and Trends

Global Vehicle to vehicle (V2V) communication Market: Regional Insights

In the US, Japan, and Europe, a lot of money is invested in research and development to create the best vehicle-to-vehicle communication systems. North America, primarily the U.S. s market share in the vehicle-to-vehicle communication sector is dominant

The European market is predicted to grow the fastest. The Asia Pacific, Middle East, and Africa regions have the highest potential for the vehicle-to-vehicle communication market due to rising populations, people's acceptance of technological advancements, and an increase in the number of vehicles on the road. This is because more and more car companies are placing a heavy emphasis on these regions. Throughout the forecast period, Latin America would experience consistent growth.

Because of its adoption of cutting-edge technology and governmental guidelines, North America holds the largest market share for Vehicle to Vehicle (V2V) Communication. To increase safety and traffic efficiency, both the public and private sectors are investing heavily in this area.

Global Vehicle to vehicle (V2V) communication Market Trends:

Increasing Investment in V2V communication Technology:

The introduction of autonomous vehicle technology is one of the key trends seen in the V2V communication market. Advanced driver-assistance system (ADAS) solutions have already been introduced to the market, changing the way that driving is perceived. Autotalks Ltd. is one illustration. Offers vehicle-to-vehicle solutions for applications involving mobility and safety. Through this, the vehicle communicates driving data to other on-road vehicles, such as speed, location, and path prediction. Vehicle communication and decision-making in challenging traffic situations are thus made possible.

One of the key factors propelling the vehicle-to-vehicle communication market is the governments and OEMs' growing concern for safety and security. These V2V communication messages, according to the National Highway Traffic Safety Administration (NHTSA), can detect dangers that are hidden by weather, terrain, or traffic and have a range of more than 300 meters. Currently available crash avoidance systems that use radars and cameras to detect collision threats are extended and improved by V2V communication. Road accidents decrease as a result of these technologies' ability to decrease traffic rule violations.

Global Vehicle to vehicle (V2V) communication Market Restraints:

Standardization of protocol and security issues:

There are some market constraints that can lower market demand. Data privacy issues are one of the main obstacles in the global Vehicle to Vehicle (V2V) Communication market. The proper implementation of Vehicle to Vehicle (V2V) communication technology requires agreement from automotive manufacturers to agree with funding. A significant barrier to the market for V2V communication is protocol standardization and security concerns. Because V2V technology stores a lot of data, it requires more cloud storage, which is another market constraint. Complex processing, security concerns, and analytic technicalities are a few of the factors limiting the growth of the Vehicle to Vehicle (V2V) Communication market trends.