Steady Expansion Forecast for Automotive Platooning System Market, Projected to Reach $18.38 Billion by 2029

Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Automotive Platooning System Market Size Growth Forecast: What to Expect by 2025?
The market size for the automotive platooning system has seen significant growth in the recent past. The forecast suggests it will expand from a value of $4.46 billion in 2024 to around $5.97 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 33.9%. The surge in this historical timeframe is largely due to technological developments in autonomous vehicles, governmental legislations and campaigns, escalating traffic congestion, strategic collaborations and partnerships, alongside pilot projects and tests.

How Will the Automotive Platooning System Market Size Evolve and Grow by 2029?
In the coming years, the automotive platooning system market size is projected to witness an explosive growth. By 2029, it is anticipated to reach a valuation of $18.38 billion, with a compound annual growth rate (CAGR) of 32.4%. Factors contributing to this growth during the forecast period include the proliferation of vehicle-to-everything (v2x) communication networks, involvement in smart cities programs, adoption by commercial fleets, advancements in safety technology and the increasing consumer preference for autonomous vehicles. Key trends during this period include the integration of electric vehicles (EVs), the advancement of driver assistance systems (ADAS), emphasis on cybersecurity, the expansion of intelligent transport infrastructure, and innovations in the realms of artificial intelligence and machine learning.

View the full report here:
https://www.thebusinessresearchcompany.com/report/automotive-platooning-system-global-market-report

What Drivers Are Propelling the Growth of Automotive Platooning System Market Forward?
The automotive platooning system market is projected to grow, catalyzed by the surge in automotive manufacturing. This surge is motivated by a rise in global vehicle demand, technological advancements, and market expansion, resulting in an uplift in production to cater to customer demand and regulatory standards. Automotive platooning systems, when employed in car manufacturing, boost efficiency by streamlining vehicle movement and cutting down logistics expenses via coordinated convoy operations. For illustration, the European Automobile Manufacturers Association, a Belgium-based group, reported in May 2023 that North America produced 13,596 thousand units of motor vehicles in 2021, which surged to 14,901 thousand units in 2022. This indicates a roughly 9.6% increase in vehicle production from 2021 to 2022 in North America. Hence, the burgeoning automotive manufacturing is fueling the expansion of the automotive platooning system market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16611&type=smp

Which Emerging Trends Are Transforming the Automotive Platooning System Market in 2025?
In a bid to improve safety in vehicular convoys, key players in the automotive platooning system industry have begun to focus on the creation of revolutionary technology, such as a vehicle safety platform. This well-rounded system of attributes and technologies is intended to amplify vehicle and passenger safety, reducing accident frequency and minimizing the impact of collisions. Vodafone Group Plc, a telecommunication firm based in the UK, for example, unveiled the Safer Transport for Europe Platform (STEP) in September 2023. Constructed on open industry standards, this cloud-based platform promotes effective dissemination of safety data and hazard notices among road users, transport authorities, in-vehicle navigation systems, and third-party apps. The improved STEP now has the potential to support cooperative platooning, even with autonomous vehicles, enabling vehicles to manage the distance and speed between themselves better. This innovation aids in lowering incidents of collisions, traffic congestion, and fuel wastage.

What Are the Key Segments in the Automotive Platooning System Market?
The automotive platooning systemmarket 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

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=16611&type=smp

Who Are the Key Players Shaping the Automotive Platooning System Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16611

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Speak With Our Expert:
Saumya Sahay,
Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info

The Business Research Company - www.thebusinessresearchcompany.com

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.