The “Global Vehicle-To-Vehicle (V2V) Communication Market, By Connectivity Type (Cellular based technology, DSRC), By Deployment Type (OEM devices, Aftermarket devices), By Applications (Traffic Safety, Traffic efficiency, Infotainment, payments and other applications), By End-use (Passenger Cars, Commercial Vehicles) and Geography (U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, ASEAN countries, GCC, Israel, South Africa) – Global Forecast to 2025” is estimated to be valued at US$ 582.5 million in 2020 and expected to witness a CAGR of 45.8% during the forecast period of 2020 to 2025, as highlighted in a report published by Coherent Market Insights.
Browse over 90 market data tables and 40 figures through 250 pages on "V2V Communication Market - Global forecast to 2025”.
Substantial loss of life and property, owing to thousands of road incidents, specifically caused due to human errors is expected to fuel the demand for the technology that can eliminate or reduce the number of accidents. V2V communication is among the prominent technology that can provide significant reduction in human errors, through DSRC incorporated with traffic safety features such as hazardous location warning, sudden stop warnings, lane assistance systems, and approaching ambulances, fire trucks, and police cars.
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The integration of DSRC-based technology in vehicles will help in exchange of information between one another, within a distance radius of up to 1 mile. These data transmissions and receptions that occur in a 75 MHz band of the 5.9 GHz spectrum is expected to gain significant traction in the market, as it can be used in vehicle mobility and safety applications. The U.S. Government has already allocated this band for usage in automotive applications and for secure messages, which can be exchanged between the vehicles for up to 10 times per second. These messages will be useful for information exchange of location, heading, speed, acceleration, and braking. Furthermore, the messages will be processed to identify if there are any threats of collision, and warning will be sent to the users to take appropriate action. Therefore, V2V communication using DSRC-based technology is expected to gain significant traction in the market over the forecast period due to the aforementioned factors.
Key Takeaways of the V2V Communication Market:
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