Vehicle-To-Vehicle (V2V) Communication Market is Anticipated to Show Growth by 2025
Adoption of V2V communication can be utilized to overcome human errors and reduce the road accidents by over 75%
U.S. Department of Transportation is in the process of adopting the technology to allow vehicles to communicate with each other and prevent collisions, since 2014. The government agency also estimates that this could help the government reduce around 80% of the road accidents every year, which excludes the cases of mechanical failures and drunk drivers in the country. According to Coherent Market Insights analysis, the stats are similar around the globe, and may help to considerably reduce the number of incidents and property losses. This is expected to be the most prominent factor that will fuel growth of the V2V communication market through the forecast period.
Request for Sample Copy of this Report :
The global V2V communication market is estimated to be valued at US$ 582.5 million in 2020 and is expected to witness a CAGR at 45.8% during the forecast period of 2020 to 2025.
Vehicle-to-vehicle (V2V) communication is expected to be the key component of the future autonomous vehicle driving systems in the near future
In May 2016, a 40-year old man met with a fatal accident in his autonomous car produced by Tesla, which crashed into a tractor trailer when taking turn. The cause of the accident was supposed to be the lack of the camera to detect the object because of non-malicious/natural blinding. The outcome of the incident would have been different if both the vehicles had deployed the car to car to communication systems, and the Autopilot would have been aware of the truck’s location, speed, and its level of threat. Even if the truck lacked these systems, the surrounding cars could have relayed the data and enhanced the safety of the user. Thus, the future of the autonomous vehicle safety, is largely reliant on the propagation of these systems, and the requirement to propel the innovation in the automotive sector, V2V communication market is expected to gain substantial impetus through the forecast period.
Passenger cars are expected to dominate the end use segment of the V2V communication market through 2025
Passenger cars currently dominate the overall automotive market in terms of volume in almost all the major countries around the globe. Moreover, pilot projects conducted by industry participants, and the current deployment are majorly focused on the passenger cars. Moreover, the regulatory bodies have emphasized the importance of V2V communication in passenger cars and light vehicles such as the U.S. DoT and the NHTSA. Thus, passenger cars are expected to dominate the end use segment over the coming years. Some OEMs have started offering automotive enabled with these systems, which include Toyota, Daimler AG, and General Motors.
Some of the key industry participants in the V2V communication market are Daimler AG, Toyota, Delphi Automotive PLC, Harman International Industries, Inc., Mobileye NV, Ford Motor Co., Honda, Nissan, Volkswagen, Audi, Hyundai, and Kia. Industry participants are increasingly emphasizing on the development of the cellular based systems and commercialization of the 5G technology to support the efficiency of these systems.
For More Information :
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services and competitive analysis through various recommendations related to emerging market trends, technologies and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Vehicle-To-Vehicle (V2V) Communication Market is Anticipated to Show Growth by 2025 here
News-ID: 1102565 • Views: 315
More Releases from Coherent Market Insights
Axial Piston Motor Market Analysis by Current Industry Status and Growth Opportu …
Report Summary: The Axial Piston Motor Market Research Report provides extensive information on the following topics: Industry size, share, growth, segmentation, manufacturers and progress, main trends, market drivers, challenges, standardization, deployment models, opportunities, strategies, future road maps, and Annual forecast till 2027. Our latest analysis suggests that, Market Will Boom In Near Future The research provides a professional '130 Pages' in-depth study of the Axial Piston Motor Market's historic and present scenario have
Gas Leak Detector Market Size, Share Estimation | Business Strategies, Expansion …
Report Summary: The Gas Leak Detector Market Research Report provides extensive information on the following topics: Industry size, share, growth, segmentation, manufacturers and progress, main trends, market drivers, challenges, standardization, deployment models, opportunities, strategies, future road maps, and Annual forecast till 2027. 𝗢𝘂𝗿 𝗹𝗮𝘁𝗲𝘀𝘁 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝘀𝘂𝗴𝗴𝗲𝘀𝘁𝘀 𝘁𝗵𝗮𝘁, 𝗧𝗵𝗲 𝗴𝗹𝗼𝗯𝗮𝗹 𝗴𝗮𝘀 𝗹𝗲𝗮𝗸 𝗱𝗲𝘁𝗲𝗰𝘁𝗼𝗿 𝗺𝗮𝗿𝗸𝗲𝘁 𝘄𝗮𝘀 𝘃𝗮𝗹𝘂𝗲𝗱 𝗮𝘁 𝗨𝗦$ 𝟮,𝟵𝟴𝟬.𝟯 𝗠𝗻 𝗶𝗻 𝟮𝟬𝟭𝟵 𝗮𝗻𝗱 𝗶𝘀 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁 𝘁𝗼 𝗿𝗲𝗮𝗰𝗵 𝗮 𝘃𝗮𝗹𝘂𝗲 𝗼𝗳 𝗨𝗦$ 𝟰,𝟲𝟵𝟱.𝟳 𝗠𝗻
Medical Aesthetics Market Is Booming Worldwide 2023-2030 | Cynosure, Inc., Aller …
What are New Additions in 2023? 1. Detailed industry forecast 2. More information on the company's key players 3. On-demand customized reports and analyst assistance 4. Recent market developments and future growth prospects 5. Requested customized regional/country reports Coherent Market Insights has announced the addition of Medical Aesthetics Market 2023 Forecast Analysis by Types, Applications, Size, Share, Key Players, and Regions. a new research report to its market research archive. The Medical Aesthetics Market has been
POCT Platform & Technology Market to See Booming Growth 2023-2030 | Advanced Liq …
What are New Additions in 2023? 1. Detailed industry forecast 2. More information on the company's key players 3. On-demand customized reports and analyst assistance 4. Recent market developments and future growth prospects 5. Requested customized regional/country reports POCT Platform & Technology Market Projections : The global POCT platform & technology market is estimated to be valued at US$ 31,841million in 2022 and is expected to exhibit a CAGR of 8.9% over the forecast period
More Releases for V2V
2022 Automotive V2V / V2I Technologies Market | Detailed Report
Global Automotive V2V / V2I Technologies Market 2021-2027, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team. Download FREE Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=5339869 The
Vehicle-To-Vehicle (V2V) Communication Market Size | Growth, Share, Industry Ana …
In 2018, the global Vehicle-To-Vehicle (V2V) Communication market size was 190 million US$ and it is expected to reach 3810 million US$ by the end of 2025, with a CAGR of 45.8% between 2019 and 2025. V2V Communication technology refers to the systems that enable communication of automotive with each other to provide improved awareness of the surrounding environment and information regarding the future actions of the nearby vehicles. This helps
Vehicle-To-Vehicle (V2V) Communication Market Growth, Production, Suppliers, For …
V2V Communication technology refers to the systems that enable communication of automotive with each other to provide improved awareness of the surrounding environment and information regarding the future actions of the nearby vehicles. This helps in the elimination of accident threats from the blind spots and enhances user safety. Owing to the high number of incidents occurring due to human errors that can be significantly reduced with the utilization of
Worldwide Technology: Vehicle-To-Vehicle (V2V) Communication Market 2018
Qyresearchreports include new market research report "Global Vehicle-To-Vehicle (V2V) Communication Market Research Report 2018" to its huge collection of research reports. A holistic and detailed overview of the global Vehicle-To-Vehicle (V2V) Communication market that includes information derived from utilizing various quantitative and qualitative analysis techniques has been compiled in this latest market report. This compilation offers its readers a great overview of the Vehicle-To-Vehicle (V2V) Communication market during a forecast period
Vehicle to Vehicle (V2V)/Vehicle to Infrastructure (V2I) Market expected to grow …
The V2V/V2I market has penetration into different technologies such as smart sensors, big data analytics and cloud computing. The smart sensors manage and control traffic on the roads by offering the drivers and passengers a plethora of advanced transport services aimed at improving driving efficiency and safety. Big data analytics aids the companies in understanding the user requirements and expectations thus bringing about relevant changes in the automotive developments. Vehicular
Vehicle-To-Vehicle (V2V) Communication Market to surpass US$ 3.83 billion by 202 …
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