Press release
Emerging Trends Influencing The Growth Of The Automotive Platooning System Market: Innovative Vehicle Safety Platforms Driving Advances In Automotive Platooning Systems
Automotive Platooning System
How Big Is the Automotive Platooning System Market Size Expected to Be by 2034?
The automotive platooning system market has grown exponentially in recent years. It is expected to grow from $4.46 billion in 2024 to $6.04 billion in 2025, at a CAGR of 35.3%. The rapid growth is driven by advancements in autonomous vehicle technology, government regulations, traffic congestion, and partnerships for demonstration projects and trials.
The automotive platooning system market will grow rapidly to $20.03 billion in 2029 at a CAGR of 35.0%, driven by V2X communication, smart city adoption, and safety innovations. Trends include EV integration, AI in logistics, smart infrastructure, and cybersecurity focus.
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What Are the Emerging Segments Within the Automotive Platooning System Market?
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 Long-Term Drivers Are Shaping Automotive Platooning System Market Trends?
Rising automotive manufacturing is expected to fuel the growth of the automotive platooning system market. The increased production of vehicles is supported by the global demand for automobiles and technological advancements. Automotive platooning systems improve vehicle movement efficiency and reduce logistics costs. A report from the European Automobile Manufacturers Association in May 2023 showed a 9.6% increase in vehicle production in North America from 2021 to 2022. Therefore, rising automotive manufacturing is boosting the automotive platooning system market.
Who Are the Top Competitors in Key Automotive Platooning System Market Segments?
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.
What Are the Major Trends Shaping the Automotive Platooning System Market?
Companies in the automotive platooning system market are focused on creating innovative technologies like vehicle safety platforms to make driving in convoys safer. A vehicle safety platform is a system that enhances vehicle and occupant safety by preventing accidents and minimizing collision severity. In September 2023, Vodafone Group Plc, a UK-based telecommunications company, introduced the Safer Transport for Europe Platform (STEP), which enables the efficient sharing of safety information and hazard warnings. The platform now supports cooperative platooning with driverless vehicles, helping reduce collisions, traffic jams, and fuel consumption.
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Which Regions Are Becoming Hubs for Automotive Platooning System Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Platooning System Market?
2. What is the CAGR expected in the Automotive Platooning System Market?
3. What Are the Key Innovations Transforming the Automotive Platooning System Industry?
4. Which Region Is Leading the Automotive Platooning System Market?
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