Vehicle to Vehicle (V2V) Communication Market Analysis and Industry Forecast, 2016 - 2023
The next generation technological advancements indicate that automotive electrification can open new pathways for consumer engagement along with various financial and environmental benefits such as reduced dependence on conventional fuels and high energy efficiency.
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This presents immense opportunities for suppliers and OEMs, especially with production facilities in the UK as a technological hub. In addition, the UK government has also declared to fund USD 217 million in order to develop connected and autonomous vehicle technology till 2015.
V2V communication market includes a transmitter and receiver that help the cars to broadcast the brake status, speed, position, steering-wheel position and other data to other vehicles within a range of few hundred meters. Connected vehicles could make use of the information in order to build in depth depiction of what’s unfolding around them, enlightening any sort of danger and alerts the driver, or the best sensor system, would miss or fail to anticipate
Furthermore, impending clash with pedestrians or bicyclists carrying a smart phone could also be avoided, as constant signals between vehicles and smart phones warns the driver even if the roadway conditions impair driver vision.
Forward collision warns the driver of the threat of an approaching rear-end collision with a vehicle to the front in the same direction and lane of travel which helps in preventing an accident. It acts as the major driver to the industry growth. Moreover, blind spot informs the driver that a vehicle in an adjacent lane is located in the driver’s blind spot zone and alerts about the presence of another vehicle. Initial high cost involved is expected to hamper growth over the forecast period.
Connected vehicles would generate huge amounts of data if consumers choose to share it. This has the potential to open up a range of opportunities for consumer engagement and indeed monetization for the data owner. This will become a source of competitive advantage for OEMs, technology companies and insurers as well as supporting automated traffic flow management.
Global vehicle to vehicle communication market can be segmented on the basis of devices which include OEM device, aftermarket device and infrastructure base device. The OEM device offers highly accurate information using in-vehicle information to generate the basic safety message. In addition, aftermarket devices are used to alert the driver of a vehicle similar to those provided by an OEM installed.
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Key participants with vehicle to vehicle communication market share include BMW Group, Daimler AG, General Motors, Toyota, Volkswagen group, Delphi, Autotalks Limited, eTrans Systems, Honda, Volvo, Audi, Denso Corp, Qualcomm, Savari INC and Kapsch’s TrafficCom among others.
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