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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DSRC based technology can be utilized in vehicles to exchange information between one another over the distance radius of up to 1 mile. These data transmission and reception occurs in a 75 MHz band of the 5.9 GHz spectrum (which is the expected standard to gain highest traction), to be used by vehicle mobility and safety applications. This band is already allocated by the US Government for automotive applications, for secure messages that can be exchanged between the vehicles for up to 10 times per second. These messages are utilized for location, heading, speed, acceleration and braking information exchange, which is then processed to determine the threats of collision, and warning is signaled to users for the initiation of appropriate action. DSRC based V2V communication is thus expected to be the standardized form of equipment adopted and gain highest market penetration over the forecast years.
Key Takeaways of the V2V Communication Market:
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