Global Vehicle to Vehicle Communication Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global vehicle to vehicle communication market in its upcoming report titled, “Global Vehicle to Vehicle Communication Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global vehicle to vehicle communication market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global vehicle to vehicle communication market report has been segmented on the basis of type, technology, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Vehicle-to-vehicle communication (V2V communication) is referred to the wireless transmission of information such as what they’re doing between automobiles. The data would include speed, location, direction of travel, braking, and loss of stability. Vehicle-to-vehicle technology uses short-range communications (DSRC). It is often described as being a Wi-Fi network because one of the possible frequencies is 5.9GHz, which is used by Wi-Fi. The range is up to 300 meters or 1000 feet or about 10 seconds at highway speeds. The key function of V2V communication is to prevent accidents by enabling vehicles which are running on road to send its position and speed data to one another. The driver receives a warning regarding any risk of an accident or the vehicle itself may take preventative actions such as braking to slow down. At present, development of the first generation of V2V systems is underway. The limitation of its functioning is only giving a warning to the driver. However, these systems are unable to take any corrective action on the input given by the driver.

Vehicle to vehicle communication will improve safety and control jamming in between the cities. Vehicles would communicate with each other and send alerts if any accident seemed to be forthcoming. These features are expected attract the customers by increasing safety measures and ease to drive. Advancement in wireless communication, information sharing, and increasing roadside communication infrastructure are driving the growth of vehicle to vehicle communication market.  However, large-scale adoption and the industry growth of the technology are dependent on the development of regulatory mandates. For instance, in September 2017, The National Highway Traffic Safety Administration of the U.S., postponed the regulation for V2V information transmitting devices in vehicles, owing to lack of adequacy of these systems to address the requirement of privacy and cybersecurity. However, major players in the market such as Toyota, and Daimler AG are expected to develop the technology, and fuel market growth of the vehicle-to-vehicle communication.

However, rising concerns regarding internet hacking and additional costs may restrain market growth in the coming years. Being dependent on information technology, they are at risk to attacks of hacking. In such scenario, the information can be altered and displayed in the vehicle which can result in harmful effects.

The market in North America is expected to dominate the global vehicle to vehicle communication market owing to presence of large players such as General Motors and initiatives undertaken by the government and major automotive players in the US. Major key car manufacturers, especially in North America, focus on deploying V2V solutions in their premium model cars. For instance; In March 2017, General Motors Company introduced V2V solutions on its premium series car model ‘Cadillac CTS 2017’ in order to enhance its presence in the V2V communication market.

Global Vehicle to Vehicle Communication Market Segmentation:

Segmentation on the basis of type:

• OEM devices
• Aftermarket devices
• Infrastructure-based devices

Segmentation on the basis of technology:

• Big data analytics
• Smart sensors
• Cloud computing

Segmentation on the basis of region:

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