Increasing traffic efficiency with traffic congestion control which results in reduced transport time, fuel consumption and thus contributing to improving the environment is likely to positively impact the industry growth over the forecast period. 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. The forward and backwards collision detection system are key drivers for this V2V systems market which helps to prevent the accidents. The Blind spot informs the driver that vehicle is an adjacent side lane is located in driver’s blind zone and alerts to the driver about the presence car or vehicle these are on-going technologies in V2V communication systems. The key restraint of the market is high initial cost, which is hampering the growth of V2V systems. In terms of revenue, Asia Pacific is expected to account for significant market share by 2025. Prominent factors in the region include the presence of the world’s largest automotive manufacturing and consumer market in China, followed by substantial number of initiatives in Japan, Australia, and South Korea. North America will witness the highest penetration of the technology.
Market Analysis and Insights: Global Vehicle To Vehicle Communication Systems Market
The global Vehicle To Vehicle Communication Systems market size is projected to reach US$ 2306.3 million by 2026, from US$ 1600.5 million in 2019, at a CAGR of 4.9% during 2021-2026.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Vehicle To Vehicle Communication Systems market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Vehicle To Vehicle Communication Systems market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Vehicle To Vehicle Communication Systems market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Vehicle To Vehicle Communication Systems market.
Vehicle To Vehicle Communication Systems Breakdown Data by Type
Vehicle To Vehicle Communication Systems Breakdown Data by Application
Based on regional and country-level analysis, the Vehicle To Vehicle Communication Systems market has been segmented as follows:
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa
Rest of Middle East & Africa
In the competitive analysis section of the report, leading as well as prominent players of the global Vehicle To Vehicle Communication Systems market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2016-2021.
The following players are covered in this report:
Honda Denso corporation