Vehicular Communication Market Report: Trends, Forecast and Competitive Analysis

Vehicular Communication Market Report: Trends, Forecast and Competitive Analysis

Vehicular Communication Market Trends and Forecast

The future of the global vehicular communication market looks promising with opportunities in the passenger cars, commercial vehicle, and electric vehicles markets. The global vehicular communication market is expected to reach an estimated $88.5 billion by 2027 with a CAGR of 23.4% from 2021 to 2027. The major drivers for this market are growing concern for better traffic management, rising demand for real-time traffic congestion control for passenger safety, and increasing use of artificial intelligence in vehicles.

Emerging Trends in the Vehicular Communication Market

Emerging trends, which have a direct impact on the dynamics of the industry, include integration of predictive vehicle maintenance using real-time monitoring and development of artificial intelligence with vehicular infotainment system.

A total of 118 figures / charts and 92 tables are provided in this 225-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global vehicular communication market report, please download the report brochure.

Vehicular Communication Market by Segments

Lucintel forecasts that vehicle to vehicle segment will remain the largest segment, and it is also expected to witness the highest growth over the forecast period. The study includes trends and forecast for the global vehicular communication market by product type, vehicle type, end user, offering, and region, as follows:

Vehicular Communication Market by Product Type ($ Million Shipment analysis from 2016 to 2027):

• Vehicle to vehicle (V2V)
• Vehicle to infrastructure (V2I)
• Vehicle to pedestrians (V2P)
• Others

Vehicular Communication Market by Vehicle Type ($ Million Shipment analysis from 2016 to 2027):

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Electric Vehicles

Vehicular Communication Market by offering ($ Million Shipment analysis from 2016 to 2027):

• Hardware
• Software

Vehicular Communication Market by End User ($ Million Shipment analysis from 2016 to 2027):

• OEM
• Aftermarket

Vehicular Communication Market by Region ($ Million Shipment analysis from 2016 to 2027):

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• Russia
• France
• United Kingdom
• Italy
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Brazil
• Turkey
• The Rest of the World

List of Vehicular Communication Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies vehicular communication companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the vehicular communication companies profiled in this report includes.

• Continental
• Qualcomm
• Robert Bosch
• NXP semiconductors
• Aptiv Plc
• Infineon technologies

Vehicular Communication Market Insights

• Lucintel forecasts that vehicle to vehicle segment will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing roadways communication infrastructure, development of wireless technology, and growing awareness for driver's safety.
• North America will remain the largest region due to favorable policies and regulations by the government to reduce accidents and the increasing need for a better and effective transportation system. Europe is expected to witness the highest growth over the forecast period due to increasing adoption of vehicular communication systems in luxury cars.

Features of the Global Vehicular Communication Market

• Market Size Estimates: Global vehicular communication market size estimation in terms of value ($M) shipment.
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
• Segmentation Analysis: Global vehicular communication market size by various segments, such as by product type, vehicle type, end user, and offering in terms of value.
• Regional Analysis: Global vehicular communication market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different segments by product type, vehicle type, end user, offering, and regions for the global vehicular communication market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global vehicular communication market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the vehicular communication market size?

Answer: The global vehicular communication market is expected to reach an estimated $88.5 billion by 2027.

Q2. What is the growth forecast for vehicular communication market?

Answer: The vehicular communication market is expected to grow at a CAGR of 23.4% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the vehicular communication market?

Answer: The major drivers for this market are growing concern for better traffic management, rising demand for real-time traffic congestion control for passenger safety, and increasing use of artificial intelligence in vehicles.

Q4. What are the major vehicle type or end use industries for vehicular communication?

Answer: Electric vehicle is the major segment by vehicle type for vehicular communication.

Q5. What are the emerging trends in vehicular communication market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include integration of predictive vehicle maintenance using real-time monitoring and development of artificial intelligence with vehicular infotainment system.

Q6. Who are the key vehicular communication companies?

Answer: Some of the key vehicular communication companies are as follows:

• Continental
• Qualcomm
• Robert Bosch
• NXP semiconductors
• Aptiv Plc
• Infineon technologies

Q7.Which vehicular communication segment will be the largest in future?

Answer: Lucintel forecasts that vehicle to vehicle segment will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing roadways communication infrastructure, development of wireless technology, and growing awareness for driver's safety.

Q8: In vehicular communication market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region due to favorable policies and regulations by the government to reduce accidents and the increasing need for a better and effective transportation system. Europe is expected to witness the highest growth over the forecast period due to increasing adoption of vehicular communication systems in luxury cars.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising growth opportunities for the global vehicular communication market by product type (V2V, V2I, V2P and others), by vehicle type (Passenger cars, light commercial vehicles, heavy commercial vehicles and electric vehicles), by offering (hardware and software), by end user (OEM and aftermarket) and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which region will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?

Q.5 What are the business risks and competitive threats in this market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are some of the changing demands of customers in the market?

Q.8 What are the new developments in the market and which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?

Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?

Q.11 What M&A activity has occurred in the last five years?

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