Global Vehicle-To-Vehicle Communication Market is valued approximately at USD 22.99 billion in 2022 and is anticipated to grow with a growth rate of more than 16.6% over the forecast period 2023-2030. 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.
The key regions considered for the Global Vehicle-To-Vehicle Communication Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. 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 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.
Major market players included in this report are:
- Bayerische Motoren Werke BMW
- Audi Automobilwerke
- Mercedes-Benz Group
- Volvo Group
- Ford Motor Company
- Cisco Systems Inc.
- Delphi Automotive Plc
- Autotalks Ltd.
- DENSO Corporation
- Nav Wireless Technologies Pvt. Ltd
Recent Developments in the Market:
- In October 2022, Nav Wireless Technologies Pvt. Ltd., an India-based communication technology company, introduced Defense Expo, advanced vehicle-to-Vehicle communication technology for armed forces to share data more securely. Defense Expo is an optical LiFi-based communication that uses LEDs in vehicles to transfer data from one vehicle to another vehicle using the light spectrum.
- In April 2023, Cisco and Mercedes-Benz Announce In-Car Mobility at MWC Barcelona announced at the Mobile World Congress (MWC) in Barcelona, the partnership UC Today first reported on last week is intended to aim at the hybrid work market and looks to transform cars into a home office by making the tech safe and secure while capitalising on Mercedes-Benz renown for high-end comfort.
Global Vehicle-To-Vehicle Communication Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Vehicle Type, Connectivity Type, Deployment Type , Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type:
- Passenger Cars
- Commercial Vehicle
By Connectivity Type:
- Cellular Based Technology
- Dedicated Short -Range Communication
By Deployment Type:
- OEM Devices
- Aftermarket Devices
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Vehicle-To-Vehicle Communication Market, by region, 2020-2030 (USD Billion)
- 1.2.2. Vehicle-To-Vehicle Communication Market, by Vehicle Type, 2020-2030 (USD Billion)
- 1.2.3. Vehicle-To-Vehicle Communication Market, by Connectivity Type, 2020-2030 (USD Billion)
- 1.2.4. Vehicle-To-Vehicle Communication Market, by Deployment Type, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Vehicle-To-Vehicle Communication Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Vehicle-To-Vehicle Communication Market Dynamics
- 3.1. Vehicle-To-Vehicle Communication Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising number of road traffic accidents
- 3.1.1.2. Rising number of commercial vehicles
- 3.1.2. Market Challenges
- 3.1.2.1. Data privacy concerns
- 3.1.2.2. Security issues
- 3.1.3. Market Opportunities
- 3.1.3.1. Increase in automotive cyber security solutions
- 3.1.3.2. Rise in Connected car services
Chapter 4. Global Vehicle-To-Vehicle Communication Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Vehicle-To-Vehicle Communication Market, by Vehicle Type
- 5.1. Market Snapshot
- 5.2. Global Vehicle-To-Vehicle Communication Market by Vehicle Type, Performance - Potential Analysis
- 5.3. Global Vehicle-To-Vehicle Communication Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
- 5.4. Vehicle-To-Vehicle Communication Market, Sub Segment Analysis
- 5.4.1. Passenger Cars
- 5.4.2. Commercial Vehicle
Chapter 6. Global Vehicle-To-Vehicle Communication Market, by Connectivity Type
- 6.1. Market Snapshot
- 6.2. Global Vehicle-To-Vehicle Communication Market by Connectivity Type, Performance - Potential Analysis
- 6.3. Global Vehicle-To-Vehicle Communication Market Estimates & Forecasts by Connectivity Type 2020-2030 (USD Billion)
- 6.4. Vehicle-To-Vehicle Communication Market, Sub Segment Analysis
- 6.4.1. Cellular Based Technology
- 6.4.2. Dedicated Short -Range Communication
Chapter 7. Global Vehicle-To-Vehicle Communication Market, by Deployment Type
- 7.1. Market Snapshot
- 7.2. Global Vehicle-To-Vehicle Communication Market by Deployment Type, Performance - Potential Analysis
- 7.3. Global Vehicle-To-Vehicle Communication Market Estimates & Forecasts by Deployment Type 2020-2030 (USD Billion)
- 7.4. Vehicle-To-Vehicle Communication Market, Sub Segment Analysis
- 7.4.1. OEM Devices
- 7.4.2. Aftermarket Devices
Chapter 8. Global Vehicle-To-Vehicle Communication Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Vehicle-To-Vehicle Communication Market, Regional Market Snapshot
- 8.4. North America Vehicle-To-Vehicle Communication Market
- 8.4.1. U.S. Vehicle-To-Vehicle Communication Market
- 8.4.1.1. Vehicle Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Connectivity Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Deployment Type breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Vehicle-To-Vehicle Communication Market
- 8.5. Europe Vehicle-To-Vehicle Communication Market Snapshot
- 8.5.1. U.K. Vehicle-To-Vehicle Communication Market
- 8.5.2. Germany Vehicle-To-Vehicle Communication Market
- 8.5.3. France Vehicle-To-Vehicle Communication Market
- 8.5.4. Spain Vehicle-To-Vehicle Communication Market
- 8.5.5. Italy Vehicle-To-Vehicle Communication Market
- 8.5.6. Rest of Europe Vehicle-To-Vehicle Communication Market
- 8.6. Asia-Pacific Vehicle-To-Vehicle Communication Market Snapshot
- 8.6.1. China Vehicle-To-Vehicle Communication Market
- 8.6.2. India Vehicle-To-Vehicle Communication Market
- 8.6.3. Japan Vehicle-To-Vehicle Communication Market
- 8.6.4. Australia Vehicle-To-Vehicle Communication Market
- 8.6.5. South Korea Vehicle-To-Vehicle Communication Market
- 8.6.6. Rest of Asia Pacific Vehicle-To-Vehicle Communication Market
- 8.7. Latin America Vehicle-To-Vehicle Communication Market Snapshot
- 8.7.1. Brazil Vehicle-To-Vehicle Communication Market
- 8.7.2. Mexico Vehicle-To-Vehicle Communication Market
- 8.8. Middle East & Africa Vehicle-To-Vehicle Communication Market
- 8.8.1. Saudi Arabia Vehicle-To-Vehicle Communication Market
- 8.8.2. South Africa Vehicle-To-Vehicle Communication Market
- 8.8.3. Rest of Middle East & Africa Vehicle-To-Vehicle Communication Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Bayerische Motoren Werke BMW
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Audi Automobilwerke
- 9.3.3. Mercedes-Benz Group
- 9.3.4. Volvo Group
- 9.3.5. Ford Motor Company
- 9.3.6. Cisco Systems Inc.
- 9.3.7. Delphi Automotive Plc
- 9.3.8. Autotalks Ltd.
- 9.3.9. DENSO Corporation
- 9.3.10. Nav Wireless Technologies Pvt. Ltd
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption