The “Global Vehicle-To-Vehicle (V2V) Communication Market, By Connectivity Type (Cellular based technology, and DSRC), By Deployment Type (OEM devices, and Aftermarket devices), By Application (Traffic Safety, Traffic efficiency, Infotainment, payments and other applications), By End-use (Passenger Cars, and Commercial Vehicles), and Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)– Global Forecast to 2027” is estimated to be valued at US$ 8,990.6 million in 2027 and expected to witness a CAGR of 26.7% during the forecast period of 2019 to 2027, as highlighted in a report published by Coherent Market Insights.
Browse over 90 market data tables and 40 figures through 130+ pages on "V2V Communication Market - Global forecast to 2027”.
Substantial loss of life and property, owing to road incidents, specifically due to human errors, are expected to fuel demand for technology that can eliminate or reduce number of accidents. V2V communication is a technology that can provide significant reduction in human errors, through Dedicated Short Range Communications (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 a 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 U.S. Government for automotive applications, for secure messages that can be exchanged between vehicles 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 threats of collision, and warning is signaled to users for initiation of appropriate action. DSRC based V2V communication is thus expected to be the standardized form of equipment, and gain highest market penetration over the forecast years.
Key Takeaways of the V2V Communication Market:
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