Vehicle-to-Vehicle (V2V) Communication Market Expansion Continues, with Forecast Valuation of $45.38 Billion by 2029

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Vehicle-to-Vehicle (V2V) Communication Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for vehicle-to-vehicle (v2v) communication has seen a swift expansion in the past few years. It is projected to rise from $24.28 billion in 2024 to $26.88 billion in 2025, marking a compound annual growth rate (CAGR) of 10.7%. This past growth is credited to issues surrounding road safety, government legislative requirements, efforts to lessen traffic congestion, as well as advancements in telematics and fleet management.

Vehicle-to-Vehicle (V2V) Communication Market Size Forecast: What's the Projected Valuation by 2029?
The market size for vehicle-to-vehicle (v2v) communication is predicted to experience a significant increase in the coming years, reaching an estimated worth of $45.38 billion by 2029 with a compound annual growth rate (CAGR) of 14.0%. This increase during the forecast period is influenced by factors such as growing consumer knowledge and acceptance, dynamic spectrum sharing, solutions for data privacy, and customer-focused mobility services. Emerging trends during this period comprise of the use of smart contracts for autonomous driving, amalgamation with traffic management systems, collaborations across different industries, dynamic spectrum supervision, using blockchain for management of autonomous vehicle fleets, and cross-device certification.

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What Are the Drivers Transforming the Vehicle-to-Vehicle (V2V) Communication Market?
The increasing focus on road safety is anticipated to drive the expansion of the vehicle-to-vehicle communications market. Considerable harm to infrastructure, human life, and financial losses to individuals, families, and countries is caused by road traffic accidents. These accidents can be avoided by enhancing vehicle safety features, creating less hazardous infrastructure, implementing road safety features, transport planning, enforcing laws related to key risks and augmenting public awareness. There is a high number of accidents due to the absence of road safety and measures for it, highlighting the urgency for vehicle-to-vehicle communications for ensuring road safety. For example, the Department of Transportation reported in June 2024 that traffic deaths in 2022 had escalated over the previous year in various segments, including a 2.0% hike in large-truck collisions resulting in 115 more deaths, an 8.5% surge in large-truck occupant deaths accounting for 86 more fatalities, and a 0.7% rise in pedestrian deaths which resulted in 52 more fatalities. Hence, the growing focus on road safety is propelling the development of the vehicle-to-vehicle communications market.

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What Long-Term Trends Will Define the Future of the Vehicle-to-Vehicle (V2V) Communication Market?
The rising popularity of technological advancement is a significant trend in the vehicle-to-vehicle communications market. The primary focus of the major corporations in this industry is to create innovative technological solutions to bolster their standing. As an illustration, in October 2022, Nav Wireless Technologies Pvt. Ltd., a company based in India and specializing in communication technology, launched Defense Expo. It's an advanced vehicle-to-vehicle communication technology intended for the armed forces to facilitate secure data sharing. Defense Expo employs optical LiFi-based communication using LEDs in vehicles to transmit data between vehicles through the light spectrum.

Which Segments in the Vehicle-to-Vehicle (V2V) Communication Market Offer the Most Profit Potential?
The vehicle-to-vehicle (v2v) communicationmarket covered in this report is segmented -

1) By Vehicle Type: Passenger Cars, Commercial Vehicles
2) By Connectivity: Dedicated Short-Range Communication (DSRC), Cellular
3) By Deployment Type: Original Equipment Manufacturer (OEM) Devices, Aftermarket Devices
4) By Application: Traffic Safety, Traffic Efficiency, Infotainment, Payments, Other Applications

Subsegments:
1) By Passenger Cars: Compact Cars, Sedans, SUVs, Electric Vehicles
2) By Commercial Vehicles: Trucks, Buses, Vans, Delivery Vehicles

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Which Firms Dominate the Vehicle-to-Vehicle (V2V) Communication Market by Market Share and Revenue in 2025?
Major companies operating in the vehicle-to-vehicle (V2V) communication market include General Motors Company, Mercedes-Benz Group AG, Toyota Motor Corporation, Volkswagen Group, Harman International Industries, Mobileye Global Inc., Ford Motor Company, Bayerische Motoren Werke AG, Audi AG, QualComm Inc., Cisco Systems Inc., Autotalks Ltd., DENSO Corporation, Arada Systems Inc., Nissan Motor Co. Ltd., Honda Motor Company Ltd., Lear Corporation, Huawei Technologies Co. Ltd., Hyundai Motor Company, Samsung Group, Kapsch TrafficCom AG, Delphi Automotive PLC, Zhejiang Geely Holding Group Co. Ltd., Tata Communications Ltd., Visteon Corporation, Continental AG, Cohda Wireless Pty. Ltd., Ficosa S. A., Panasonic Corporation, Iteris Inc.

Which Regions Offer the Highest Growth Potential in the Vehicle-to-Vehicle (V2V) Communication Market?
North America was the largest region in the vehicle-to-vehicle (V2V) communication market in 2024.The regions covered in the vehicle-to-vehicle (V2V) communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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