Market Overview

Vehicle to vehicle (V2V) communication allows cars to communicate with each other and also with infrastructure such as traffic lights. This technology can aid in preventing various types of accidents, for example, by warning drivers, or warning about another driver jumping the red light. V2V communication technology also warn drivers about blind spots, vehicles coming to a sudden stop several cars ahead, and other such scenarios that could result in accidents. This technology only works between two vehicles that have V2V installed.

Furthermore, V2V communication technology operates up to 1,000 feet or about 300 meters, by giving drivers sufficient time to respond. It uses dedicated short-range communications (DSRC) which is a wireless network similar to Wi-Fi.

The global vehicle-to-vehicle (V2V) communication market was valued at US$ 1,152.3 billion in 2018 and is expected to reach US$ 8,990.6 billion by the end of 2027, growing at a CAGR of 26.7% between 2019 and 2027.

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Market Dynamics

One of the primary factors driving growth of the V2V communication market includes enhanced safety through avoidance of collisions that can be identified by these systems. However, the industry growth is expected to be considerably hindered by the lack of adoption of uniform communication standards. These systems cannot ensure user safety until most vehicles adopt similar transmission equipment, for efficiency of information exchange. Thus, proliferation of the technology is expected to be largely dependent on the establishment of the regulatory standards to mandate installation of car to car communication systems.

Detailed Segmentation:

Global V2V Communication Market, By Connectivity Type:

Cellular based technologies

DSRC

Global V2V Communication Market, By Deployment Type:

OEM devices

Aftermarket devices

Global V2V Communication Market, By Application:

Traffic safety

Traffic efficiency

Infotainment, payments and other applications

Global V2V Communication Market, By End-use:

Passenger Cars

Commercial Vehicles

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Key companies covered as a part of this study include Audi, Autotalks Ltd, Cisco Systems Inc., Delphi Automotive PLC, Denso Corporation, Ford Motor Co., General Motors, Harman International Industries Inc., Infineon Technologies AG, Kapsch TrafficCom (Kapsch), Lear Corporation, Mercedes-Benz, Qualcomm Technologies Inc., Savari Inc., and Toyota Vacaville

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