The global vehicle to vehicle (V2V) communication systems market is anticipated to grow at a significant CAGR during the forecast period. The vehicular communication system uses a wireless channel to convey data between automobiles. This information covers vehicle behaviours such as location, speed, travel direction, loss of stability, and braking. Dedicated short-range communication (DSRC), a technology utilised by vehicle-to-vehicle communication with a range of up to 300 metres or 1,000 metres or 10 seconds at highway speeds, has broader applicability in automobiles.
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It aims to avoid accidents by interacting with one another vehicle via an ad hoc network. Depending on how technology is implemented, the driver may be alerted to potential danger ahead and directed to slow down accordingly. Furthermore, by including technology such as adaptive cruise control, blind-spot detection, rear-parking sonar, blind-spot detection, lane departure, and backup camera, the communication provides all-around danger information and is projected to be more effective. Over the projected period, an increase in the number of accidents is expected to accelerate the global vehicle to vehicle communication systems market.
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The introduction of autonomous vehicle technology is one of the primary trends in the vehicle to vehicle communication business. The market has already seen advanced driver-assistance system (ADAS) solutions that have transformed the way people drive. For instance, Autotalks Ltd. offers vehicle-to-vehicle communication solutions for safety and mobility. This allows automobiles to share driving data with other vehicles on the road, such as speed, position, and path prediction. As a result, vehicles will be able to communicate and make decisions in complex traffic scenarios.
One of the key drivers propelling the vehicle to vehicle communication industry is the increased concern for safety and security by OEMs, end-users, and governments. According to National Highway Traffic Safety Administration, these vehicle to vehicle communication messages, have a range of more than 300 metres and can detect threats masked by traffic, terrain, or weather. Vehicle to vehicle communication complements and improves existing collision avoidance systems that rely on radars and cameras to identify potential collisions. Such technologies aid in the reduction of traffic rule violations, resulting in fewer road accidents.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Vehicle Type
o By Connectivity Type
o By Deployment Type
- Competitive Landscape: H.B. Fuller, 3M Company, Henkel, Evonik Industries, Epic Resins, Dow, Sika.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Vehicle To Vehicle Communication System Market by Segments
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Connectivity Type
- Cellular Based Technology
- Dedicated Short-Range Communication (DSRC)
By Deployment Type
- Original Equipment Manufacturer (OEM) devices
- Aftermarket devices
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