[192 Pages Report] The Vehicle-to-Vehicle Communication Market size was estimated at USD 24.14 billion in 2023 and expected to reach USD 28.02 billion in 2024, at a CAGR 16.42% to reach USD 69.99 billion by 2030.
Vehicle-to-vehicle (V2V) communication is a technology that promises to improve road safety and efficiency, as well as enable autonomous driving capabilities. increasing adoption of connected car services with rising advancements in driver-assistance systems (ADAS) is driving the market growth. The evolving 5G technology landscape globally with expanding investments is creating a platform for market growth. Increased road safety, improved traffic management, lower fuel consumption, and support for autonomous and semi-autonomous vehicles are factors contributing to the expanding utilization of vehicle-to-vehicle (V2V) communication solutions. However, concerns related to data security, privacy infringement, and compatibility issues hamper the growth of the vehicle-to-vehicle (V2V) communication market. The growing introduction of technologically advanced vehicle-to-vehicle (V2V) communication solutions by market vendors is expected to create a platform for market growth.
Regional Insights
In the Americas, with the rising interest in autonomous and connected transportation, V2V communication is progressively developed and implemented. The U.S., being the technological vanguard, has charted serious investment into the R&D of V2V technology. There has been a robust contribution from established automobile manufacturers and tech-based companies, encouraging higher safety standards and efficient mobility. The APAC region, especially economies including China, Japan, South Korea, and India, is vividly focusing on V2V communication to improve road safety and ease traffic congestion. China, with its cutting-edge tech companies and extensive 5G network, is rapidly adopting V2V communication to attain its smart city vision. Japan, meanwhile, has been a proponent of Intelligent Transportation Systems, a cumulative strategy that heavily relies on V2V for safety and efficiency. Europe’s advancement with its cooperative intelligent transport systems (C-ITS), leveraging V2V communication to mitigate accident risks, improve commuting experience, and create eco-friendly urban spaces. The EU has outlined regulatory and standardization frameworks for safe V2V deployment. Meanwhile, the Middle East and Africa present promising potential for V2V growth, buoyed by burgeoning smart city projects, shifting focus towards road safety, and pronounced governmental backing in technology adoption.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Vehicle-to-Vehicle Communication Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Vehicle-to-Vehicle Communication Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Vehicle-to-Vehicle Communication Market, highlighting leading vendors and their innovative profiles. These include Aptiv PLC, Autotalks Ltd., BMW AG, Broadcom, Inc., Continental AG, Denso Corporation, General Motors Company, Gentex Corporation, Harman International Industries Inc., Honda Motor Co., Ltd., Hyundai Motor Company, Intel Corporation, Knorr Bremse AG, Lear Corporation, LG Electronics, Magna International Inc., Mercedes-Benz Group AG, Mobileye Technologies Limited, NXP Semiconductors N.V., Panasonic Corporation, Qualcomm Incorporated, Renesas Electronics Corp., Robert Bosch GmbH, Sensata Technologies Inc., Skyworks Solutions, Inc., Tata Motors Ltd., TOYOTA MOTOR CORPORATION, and ZF Friedrichshafen AG.
Market Segmentation & Coverage
This research report categorizes the Vehicle-to-Vehicle Communication Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Hardware
- Software
- Technology
- Automated Driver Assistance
- Emergency Vehicle Notification
- Fleet & Asset Management
- Intelligent Traffic Systems
- Parking Management System
- Passenger Information System
- Type
- Commercial Vehicle
- Passenger Car
- Connectivity
- Cellular
- Dedicated Short-Range Communication
- Deployment Type
- Aftermarket
- OEM
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Vehicle-to-Vehicle Communication Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Vehicle-to-Vehicle Communication Market?
- What are the technology trends and regulatory frameworks in the Vehicle-to-Vehicle Communication Market?
- What is the market share of the leading vendors in the Vehicle-to-Vehicle Communication Market?
- Which modes and strategic moves are suitable for entering the Vehicle-to-Vehicle Communication Market?
US $
Euro €
GBP £