Global Vehicle-To-Vehicle (V2V) Communication Market Size, Future Growth, Trend, Region Analysis Report 2027

Global Vehicle-To-Vehicle (V2V) Communication Market was valued at USD 680 million in 2020 which is expected to reach at USD 12,735 million by 2027 at a CAGR 43.2%.

Vehicle to Vehicle communication enable cars to communicate with each other and also with infrastructure like traffic lights. V2V communication technology helps to avoid crashes and traffic problems and helps to improve the environment. Also, this technology warns drivers about blind spots, vehicles coming to a sudden stop several cars ahead, and other such scenarios which could result in accidents. The technology only works between two vehicles which have V2V installed.

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Market Drivers

The rise in adoption of vehicle-to-vehicle communication to reduce human errors and road traffic accidents is a major driving factor which expected to propel the growth of global vehicle-to-vehicle (V2V) communication market during this forecast period. For instance, United States Department of Transportation is focusing on adopting the connected vehicle technology to allow vehicles to communicate with each other & prevent collisions, since 2014.

V2V communication technology comprises a transmitter & receiver which help the cars to broadcast the brake status, speed, steering-wheel position and other data to other vehicles within a range of few hundred meters. Connected cars could make use of the information in order to build in depth depiction of what’s unfolding around them, enlightening any sort of danger, or the best sensor system, would miss or fail to anticipate, these factors are expected to drive the growth of global vehicle-to-vehicle communication (V2V) market.

Market Restraints

Initial high cost involved is expected to hinder the global vehicle-to-vehicle (V2V) communication market growth during this forecast period. Also, the data privacy concerns may hamper the market growth. This technology requires lots of data which in turn requires scalable & more storage capable cloud platform. Standardization of protocols, security issues are few more factors which may obstruct the market growth.

Market Segmentation

The Global Vehicle-To-Vehicle (V2V) Communication Market is segmented into connectivity type such as Cellular based technologies, and DSRC, by deployment type such as OEM devices, and Aftermarket devices. Further, market is segmented into application such as Traffic safety, Traffic efficiency, Infotainment, payments and others. Based on the end use, market is segmented into Passenger Cars, and Commercial Vehicles.

Regional Analysis

The Global Vehicle-To-Vehicle (V2V) Communication Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.The North America region has the largest market share in the Vehicle to Vehicle (V2V) Communication market, owing to the growing adoption of advanced technology, rise in population, and growing investment by government and private sectors in this region to enhance safety and traffic efficiency. The increase in number of vehicles in APAC and Middle East & Africa regions, the potential for V2V communication market is maximum in these areas as more and more automobile organizations are focusing these regions.

Key Players

Some of the prominent players are listed in this report such as Autotalks Ltd, Delphi Automotive PLC, Cisco Systems Inc., Ford Motor Co., Denso Corporation, Harman International Industries Inc., Kapsch TrafficCom , Infineon Technologies AG, Qualcomm Technologies Inc, Toyota Vacaville, etc.

Market Taxonomy

By Connectivity Type

• Cellular based technologies
• DSRC

By Deployment Type

• OEM devices
• Aftermarket devices

By Application

• Traffic safety
• Traffic efficiency
• Infotainment
• Payments
• Others

By End Use

• Passenger Cars
• Commercial Vehicles

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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