Vehicle-to-Vehicle Communication Market by Component (Hardware, Software), Technology (Automated Driver Assistance, Emergency Vehicle Notification, Fleet & Asset Management), Type, Connectivity, Deployment Type - Global Forecast 2024-2030

Vehicle-to-Vehicle Communication Market by Component (Hardware, Software), Technology (Automated Driver Assistance, Emergency Vehicle Notification, Fleet & Asset Management), Type, Connectivity, Deployment Type - Global Forecast 2024-2030

The Vehicle-to-Vehicle Communication Market size was estimated at USD 24.14 billion in 2023 and expected to reach USD 28.02 billion in 2024, at a CAGR 16.42% to reach USD 69.99 billion by 2030.

Vehicle-to-vehicle (V2V) communication is a technology that promises to improve road safety and efficiency, as well as enable autonomous driving capabilities. increasing adoption of connected car services with rising advancements in driver-assistance systems (ADAS) is driving the market growth. The evolving 5G technology landscape globally with expanding investments is creating a platform for market growth. Increased road safety, improved traffic management, lower fuel consumption, and support for autonomous and semi-autonomous vehicles are factors contributing to the expanding utilization of vehicle-to-vehicle (V2V) communication solutions. However, concerns related to data security, privacy infringement, and compatibility issues hamper the growth of the vehicle-to-vehicle (V2V) communication market. The growing introduction of technologically advanced vehicle-to-vehicle (V2V) communication solutions by market vendors is expected to create a platform for market growth.

Regional Insights

In the Americas, with the rising interest in autonomous and connected transportation, V2V communication is progressively developed and implemented. The U.S., being the technological vanguard, has charted serious investment into the R&D of V2V technology. There has been a robust contribution from established automobile manufacturers and tech-based companies, encouraging higher safety standards and efficient mobility. The APAC region, especially economies including China, Japan, South Korea, and India, is vividly focusing on V2V communication to improve road safety and ease traffic congestion. China, with its cutting-edge tech companies and extensive 5G network, is rapidly adopting V2V communication to attain its smart city vision. Japan, meanwhile, has been a proponent of Intelligent Transportation Systems, a cumulative strategy that heavily relies on V2V for safety and efficiency. Europe’s advancement with its cooperative intelligent transport systems (C-ITS), leveraging V2V communication to mitigate accident risks, improve commuting experience, and create eco-friendly urban spaces. The EU has outlined regulatory and standardization frameworks for safe V2V deployment. Meanwhile, the Middle East and Africa present promising potential for V2V growth, buoyed by burgeoning smart city projects, shifting focus towards road safety, and pronounced governmental backing in technology adoption.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Vehicle-to-Vehicle Communication Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising growth of the automobile industry and the advent of autonomous vehicle technology
• Growing safety and security concerns among OEMs and governments
• Government support for deploying connected vehicles worldwide

Market Restraints

• High cost of deployment and maintenance V2V technologies

Market Opportunities

• Ongoing R&D and technological advancements in V2V communication
• Expanding use in the developing smart cities worldwide

Market Challenges

• Security challenges in V2V communication architectures

Market Segmentation Analysis

• Component: Growing adoption of software to adhere to established interoperability standards
• Technology: Expanding usage of emergency vehicle notification technology to to shorten response times and enhance operational efficiencies
• Type: Rising deployment of vehicle-to-vehicle (V2V) communication in passenger vehicles with growing progression towards autonomous vehicles
• Connectivity: Increasing usage of cellular communication to facilitate seamless data transmission between vehicles
• Deployment Type: Rising deployment of V2V technology by OEM to ensure seamless integration and compatibility with in-built systems

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Vehicle-to-Vehicle Communication Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Vehicle-to-Vehicle Communication Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

TTTech Auto, ZettaScale Extend Collaboration to Launch In-vehicle, V2X Service

TTTech Auto, a leader in automotive safety software, has partnered with ZettaScale Technology, specialists in pub/sub/query protocol, to unveil Zetta Auto a state-of-the-art communication platform for the automotive sector. This collaboration integrates the technical prowess of both companies to enhance service-oriented architecture communications within the industry, ensuring these are safe, efficient, and reliable.

USD 9.8M to Boost Connected Vehicle Research and Expand Ann Arbor Deployment

The University of Michigan has received a significant boost in its efforts to advance cellular vehicle-to-everything (C-V2X) technology with a USD 9.8 million grant from the U.S. Department of Transportation. This funding is part of the broader USD 52.78 million Advanced Transportation Technology and Innovation (ATTAIN) initiative, derived from the Bipartisan Infrastructure Law, aimed at fostering technologies to enhance safety and reduce travel times.

The Road to Safety Opens in the U.S.

The Federal Communications Commission (FCC) has granted an important waiver for the use of cellular-vehicle-to-everything (C-V2X) technology on U.S. roads, representing a significant advancement for automotive communication technologies. This decision will enable vehicles and road infrastructure to directly communicate, enhancing safety through vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) interactions.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Vehicle-to-Vehicle Communication Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Vehicle-to-Vehicle Communication Market, highlighting leading vendors and their innovative profiles. These include Aptiv PLC, Autotalks Ltd., BMW AG, Broadcom, Inc., Continental AG, Denso Corporation, General Motors Company, Gentex Corporation, Harman International Industries Inc., Honda Motor Co., Ltd., Hyundai Motor Company, Intel Corporation, Knorr Bremse AG, Lear Corporation, LG Electronics, Magna International Inc., Mercedes-Benz Group AG, Mobileye Technologies Limited, NXP Semiconductors N.V., Panasonic Corporation, Qualcomm Incorporated, Renesas Electronics Corp., Robert Bosch GmbH, Sensata Technologies Inc., Skyworks Solutions, Inc., Tata Motors Ltd., TOYOTA MOTOR CORPORATION, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Vehicle-to-Vehicle Communication Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component

• Hardware
• Software
• Technology
• Automated Driver Assistance
• Emergency Vehicle Notification
• Fleet & Asset Management
• Intelligent Traffic Systems
• Parking Management System
• Passenger Information System
• Type
  • Commercial Vehicle
  • Passenger Car
  • Connectivity
  • Cellular
  • Dedicated Short-Range Communication
  • Deployment Type
    • Aftermarket
    • OEM
    Region
    • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
    • California
    • Florida
    • Illinois
    • New York
    • Ohio
    • Pennsylvania
    • Texas
    • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
    • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom
    
    
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