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Rising Automotive Manufacturing Fuels Growth In The Automotive Platooning System Market Driver: A Major Catalyst in the Evolution of the Automotive Platooning System Market in 2025
Automotive Platooning System Market
The predicted expansion of the automotive platooning system market is linked to the increasing trend in automobile production. This surge in vehicle manufacturing owes to a global rise in demand for vehicles, advancements in technology, and market expansion, all culminating in increased production to satisfy both consumer requirements and regulatory standards. The application of automotive platooning systems in vehicle manufacturing boosts efficiency by improving vehicle motion and cutting down on the costs associated with logistics through organized convoy operations. For instance, figures from the European Automobile Manufacturers Association, a Belgian association, reveal that North America's motor vehicle production rose from 13,596 thousand units in 2021 to 14,901 thousand units in 2022, representing a growth of around 9.6%. This demonstrates how the growth of automobile manufacturing propels the expansion of the automotive platooning system market.
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What growth opportunities are expected to drive the automotive platooning system market's CAGR through 2034?
The market size of the automotive platooning system has seen substantial growth recently. The market, valued at $4.46 billion in 2024, is anticipated to reach $6.04 billion in 2025, growing at a compound annual growth rate (CAGR) of 35.3%. Factors contributing to this steady growth in the historic period include progress in autonomous vehicle technology, regulations and initiatives introduced by the government, increasing traffic congestion, various collaborations and partnerships, as well as demonstration projects and trials.
In the coming years, the automotive platooning system market is predicted to experience a significant surge, reaching an estimated value of $20.03 billion in 2029 with a compound annual growth rate (CAGR) of 35.0%. This projected growth is largely designed to cater to the expansion of vehicle-to-everything (v2x) communication networks, integration into the objectives of smart cities, commercial fleet adoption, advancements in safety technology, and the escalating consumer demand for autonomous vehicles. The trend projection for this period suggests an integration with electric vehicles (EVs), advancements in advanced driver assistance systems (ADAS), heightened focus on cybersecurity, growth in smart transportation infrastructure, and breakthroughs in artificial intelligence and machine learning.
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What are the emerging trends shaping the future of the automotive platooning system market?
Key players in the automotive platooning system market are working towards the creation of unique tech solutions such as a vehicle safety platform that would enhance the security of driving cars in a platoon. A vehicle safety platform is an extensive range of technologies and features meant to increase vehicle and passenger safety by minimizing accidents and mitigating the impact of collisions. For instance, in September 2023, the UK-based telecom giant, Vodafone Group Plc, introduced the Safer Transport for Europe Platform (STEP), a cloud-based platform established on open industry standards. This platform enables the efficient distribution of safety data and hazard alerts among road users, transportation authorities, third-party applications, and in-car navigation systems. The newly enhanced STEP is designed to support cooperative platooning, even with autonomous vehicles, letting them control the distance and speed between them. This technology proves beneficial in decreasing accidents, traffic congestion, and fuel consumption.
Which growth-oriented segments of the automotive platooning system market are leading the industry's development?
The automotive platooning system market covered in this report is segmented -
1) By Type: Vehicle-To-Vehicle (V2V), Vehicle-To-Infrastructure (V2I), Vehicle-To-Everything (V2X)
2) By Components: Hardware, Software
3) By Functionality: Adaptive Cruise Control (ACC), Cooperative Adaptive Cruise Control (CACC)
4) By Application: Passenger Vehicles, Light-Duty Commercial Vehicles, Heavy-Duty Commercial Vehicles
5) By End-Use: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Vehicle-To-Vehicle (V2V): Vehicle Communication Systems For Platooning, Collision Avoidance And Safety Systems, Adaptive Cruise Control For V2v, Cooperative Lane Management, Cooperative Merging And Lane Changing, V2v Data Sharing For Enhanced Traffic Flow
2) By Vehicle-To-Infrastructure (V2I): Traffic Signal Coordination And Control, Roadside Unit (RSU) Communication For Platooning, V2i For Traffic Management And Congestion Reduction, Real-Time Traffic Data Exchange, Intelligent Road Signaling For Platooning Coordination, V2I For Automated Toll Collection And Parking Management
3) By Vehicle-To-Everything (V2X): V2X Communication For Autonomous Vehicles, V2X For Environmental Awareness (Weather, Road Conditions), V2X For Smart City Integration, V2X For Pedestrian And Cyclist Detection, V2X For Emergency Vehicle Communication, V2X For Multi-Vehicle Coordination And Platoon Control
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What regions are leading the charge in the automotive platooning system market?
North America was the largest region in the automotive platooning system market in 2024. The regions covered in the automotive platooning system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the automotive platooning system market?
Major companies operating in the automotive platooning system market are The Bosch Group, Hitachi Ltd., Zhejiang Geely Holding Group Co Ltd., Daimler Truck AG, The Volvo Group, TRATON GROUP, ZF Friedrichshafen AG, Continental AG, Paccar Inc., Cummins Inc., Texas Instruments Inc., Aptiv PLC, Iveco Group, NXP Semiconductors N.V., Renesas Electronics Corporation, Navistar Inc., Peloton Technology Inc., Omnitracs LLC, DANLAW INC., Aeris Communications, Yazaki Corporation, Commsignia Ltd., WABCO Holdings Inc.
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What Is Covered In The Automotive Platooning System Global Market Report?
•Market Size Forecast: Examine the automotive platooning system market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive platooning system market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive platooning system market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive platooning system market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive platooning system market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive platooning system market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive platooning system market.
•Competitive Landscape: Review strategic developments in the automotive platooning system market, including expansions, agreements, and new product launches.
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