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Vehicle-to-Vehicle Communication Market Will Generate Record Revenue by 2030 Covid-19 Analysis

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Puneet Shah
Noida sector 2, Noida, UP
— N/A — 201301 

With the rising incidence of road accidents, many original equipment manufacturers (OEMs) in the automobile industry are increasingly focusing on incorporating vehicle-to-vehicle (V2V) communication solutions in their products. In addition to this, the governments of many countries are also enacting policies for encouraging the adoption of these solutions in automobiles. As per the National Highway Traffic Safety Administration (NHTSA), V2V communication messages have a range of over 300m and can detect obstacles obscured by weather, traffic, or terrain.

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These solutions enhance the functionality of the crash avoidance systems that use cameras and radars for detecting collision threats, thereby reducing the chances of traffic rule violations and road accidents. Additionally, the growing deployment of connected cars is also propelling the demand for this technology, thereby fueling the expansion of the global vehicle-to-vehicle (V2V) communication market. As a result, the value of the market is predicted to grow from $14.5 billion in 2019 to $77.1 billion by 2030.

APAC will also witness a surge in strategic alliances between communication technology and automobile manufacturing companies in the upcoming years. The demand for this technology will also rise rapidly in Latin America, Middle East, and Africa (LAMEA) in the forthcoming years. This will be because of the increasing adoption of telematics systems in passenger cars and the soaring concerns being raised by various fleet companies in the region over the safety of their drivers and vehicle diagnostics and tracking.

Hence, it can be said with confidence that the demand for the V2V communication technology will rise sharply in the coming years, mainly because of the growing deployment of connected cars and the surging requirement for improved vehicle safety across the world.

Market Segmentation by Vehicle Type

Passenger Car
Commercial Vehicle
Market Segmentation by Connectivity Type

Cellular Based Technology
Dedicated Short-Range Communication (DSRC)
Market Segmentation by Deployment Type

Original Equipment Manufacturer (OEM) devices
Aftermarket devices

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