With the emergence and long-term Impact of COVID-19, the Global Vehicle-To-Vehicle Communication Market is to reach USD 78.54 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Vehicle-To-Vehicle Communication Market is poised to raise up to USD 78.54 Billion by 2030. Vehicle to Vehicle communication enables cars to communicate with each other and also with infrastructure such as traffic lights. V2V communication technology helps to avoid crashes and traffic problem. The Vehicle-To-Vehicle Communication market is expanding because of factors such as rising in road traffic accidents and rising in commercial vehicles. however, its importance has progressively increased during the last few decades. According to the World Health Organization in June 2021, Road traffic accidents claim the lives of approximately 1.3 million people annually, with low- and middle-income countries accounting for 93% of all traffic deaths.
Another important component driving is rising in commercial vehicles. According to the Statista in 2021, the globe manufactured about 23.24 million large buses, light commercial vehicles, and trucks. Around 80% of all commercial vehicles produced worldwide in that year were light commercial vehicles. In addition, automotive cyber security solutions and connected car services would create lucrative growth opportunities. However, implementation of V2V communication requires the automotive manufacturers to agree upon standards, funding, and data privacy concerns and security issues stifles market growth throughout the forecast period of 2023-2030.
Geographically, the global Vehicle-To-Vehicle Communication Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominates the V2V communication holding the largest market share owing to the growing adoption of advanced technology, growing population, and growing investment by government and private sectors in this region to enhance safety and traffic efficiency. According to the Statista in 2022, Connected Car Market in the United States, it is anticipated that 146 million connected vehicles would be in use by 2030.
Asia Pacific is the fastest growing region during the forecast period, owing to factors such as growing demand for fully autonomous driving and safe vehicles, advancements in 5G technology, increased electric vehicles (EV) sales, government regulations to curb emissions, and need to reduce traffic congestion.
The global Vehicle-To-Vehicle Communication Market is highly competitive owing to the presence of several key manufacturers such as Bayerische Motoren Werke BMW, Audi Automobilwerke, Mercedes-Benz Group, Volvo Group, Ford Motor Company, Cisco Systems Inc., Delphi Automotive Plc, and others.
For further analysis on this or to request a sample copy of this report, please click the link mentioned below:
Key findings of the study suggest:
- Global Vehicle-To-Vehicle Communication Market is anticipated to grow with a healthy growth rate of more than 16.6% over the forecast period 2023-2030.
- In the vehicle type segment, commercial vehicles emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the growing adoption of advanced technology.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Vehicle Type:
- Passenger Cars
- Commercial Vehicle
By Connectivity Type:
- Cellular Based Technology
- Dedicated Short -Range Communication
By Deployment Type:
- OEM Devices
- Aftermarket Devices
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
To get a sample of this report or to purchase a copy of the study, you can directly contact us at: sales@bizwitresearch.com
About Us
Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
Contact US
Global Business Development
Phone : +1 209 498-3066
Email: Sales@bizwitresearch.com
Website: www.bizwitresearch.com
