Vehicle-to-Vehicle Communication Market by Component, Technology, Type, Connectivity, Deployment Type

Description

List of Tables

[199 Pages Report] 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.

KEY MARKET STATISTICS
Base Year [2023]	USD 24.14 billion
Estimated Year [2024]	USD 28.02 billion
Forecast Year [2030]	USD 69.99 billion
CAGR (%)	16.42%

Component: Growing adoption of software to adhere to established interoperability standards

The primary hardware component that enables vehicle-to-vehicle (V2V) communication is a specialized module often referred to as a Dedicated Short-Range Communications (DSRC) device. Embedding this module in vehicles allows the exchange of speed, position, and directional data in real time, facilitating crucial safety improvements on the road. The DSRC module employs communication protocol software to ensure reliable data exchange between vehicles. It uses the 5.9 GHz band dedicated to Intelligent Transportation Systems (ITS). V2V communication systems also harness advanced algorithms that process the data received and make safety-related decisions. Furthermore, the software enables immediate and secure data transmission, minimizing latency issues and ensuring rapid and precise V2V communication.

Technology: Expanding usage of emergency vehicle notification technology to to shorten response times and enhance operational efficiencies

Automated driver-assistance systems (ADAS) provide embedded solutions for safer and smarter driving. Powered by V2V communication, ADAS includes features such as adaptive cruise control, automated parking, collision avoidance systems, and traffic jam assist to assist the driver in navigating and controlling the vehicle. The integrated emergency vehicle notification (EVN) in V2V communication alerts drivers of nearby emergency vehicles even before they can hear or see them, enhancing road safety. The technology prioritizes the path for emergency vehicles to shorten response times and enhance operational efficiencies. V2V communication plays a pivotal role in fleet & asset management. It allows real-time tracking and managing of commercial vehicles, ensuring on-time deliveries, fuel efficiency, and reduced downtime. Offering data-driven insights helps businesses optimize logistics, minimize costs, and streamline operations. Intelligent traffic systems (ITS) utilize V2V communication to manage traffic efficiently and reduce congestion. It encompasses advanced applications such as dynamic traffic light sequences, real-time rerouting, and travel time prediction to enhance commuter experience, lower fuel consumption, and reduce CO2 emissions. V2V communication aids in effective parking management. It enables real-time parking slot availability information, facilitates online payment for parking, and assists in the tracking of illegal parking activities. This tech-driven approach to parking alleviates parking-related stress and saves significant user time.

Type: Rising deployment of vehicle-to-vehicle (V2V) communication in passenger vehicles with growing progression towards autonomous vehicles

The field of commercial vehicle-to-vehicle (V2V) communication primarily equips commercial vehicles such as trucks, buses, and vans to exchange information regarding position, speed, brake status, and heading amongst each other over a wireless network. It aims to enhance driver awareness, reduce fuel consumption, and improve fleet management. Its application in modern intelligent transport systems is aimed at alleviating traffic congestion, optimizing fuel efficiency, and reducing the number of accidents. Passenger Car V2V communication signifies an exponential leap toward achieving a new-age smart mobility ecosystem. By relaying real-time information about speed, position, and direction among vehicles, V2V technology paves the way for safer and smarter roadways. V2V communication in passenger cars is also seen as a crucial step in the progression towards autonomous vehicles. Leveraged by advancements in 5G technology, it enables a more efficient environment for self-driving cars by reducing uncertainties and maximizing situational awareness on roads.

Connectivity: Increasing usage of cellular communication to facilitate seamless data transmission between vehicles

Cellular communication forms the backbone of the modern Vehicle-to-Vehicle (V2V) communication networks. This technology leverages the power of 4G/5G infrastructure to facilitate seamless data transmission between vehicles. The inherent wide-coverage and high-speed data transfer capability of cellular networks enable vehicles to share vital operational and situational information in real-time. By capitalizing on cellular connectivity, vehicles can also communicate beyond their immediate vicinity - a feature not typically present in traditional V2V systems. This ensures that vehicles are not only aware of their immediate surroundings but also of situations developing at a distance, resulting in improved traffic management and reduced traffic incidents. Dedicated Short-Range Communication (DSRC) is another pivotal connectivity option in V2V communication networks. A variant of Wi-Fi designed specifically for automotive applications, DSRC operates in the 5.9 GHz band. This high frequency allows for rapid information exchange between vehicles within a range of around 300 meters, facilitating immediate response to potentially hazardous situations. DSRC brings the potential of real-time communication to V2V networks without reliance on cellular infrastructure, ensuring unhindered communication even in areas with poor cellular coverage. Moreover, DSRC does not incur any network charges, unlike cellular communications, making it a cost-effective solution for short-range vehicle communication. DSRC-based V2V communication has been successful in supporting applications such as cooperative collision warning, intersection movement assistance, and left-turn assistance, which require low latency and high reliability.

Deployment Type: Rising deployment of V2V technology by OEM to ensure seamless integration and compatibility with in-built systems

Aftermarket vehicle communication solutions provide the option of upgrading current vehicles with V2V technology. These are generally retrofit devices installed as secondary systems in the vehicle after it has left the manufacturer. This can encompass a wide range of products, from communication devices to advanced navigation systems and smart dashboards. The second deployment type is OEM. This relates to V2V technology being directly integrated during the vehicle's production by the original manufacturer. This form of deployment ensures seamless integration and compatibility with other in-built systems, ensuring enhanced and fully embedded functionality that provides a more comprehensive and reliable communication system.

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.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Vehicle-to-Vehicle Communication Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis 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: 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 examination of the current state of vendors in the Vehicle-to-Vehicle Communication Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. 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 this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Vehicle-to-Vehicle Communication Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Vehicle-to-Vehicle Communication Market?

3. What are the technology trends and regulatory frameworks in the Vehicle-to-Vehicle Communication Market?

4. What is the market share of the leading vendors in the Vehicle-to-Vehicle Communication Market?

5. Which modes and strategic moves are suitable for entering the Vehicle-to-Vehicle Communication Market?

Product Code: MRR-AD517FAA8E4A

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising growth of the automobile industry and the advent of autonomous vehicle technology
  - 5.1.1.2. Growing safety and security concerns among OEMs and governments
  - 5.1.1.3. Government support for deploying connected vehicles worldwide
- 5.1.2. Restraints
  - 5.1.2.1. High cost of deployment and maintenance V2V technologies
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing R&D and technological advancements in V2V communication
  - 5.1.3.2. Expanding use in the developing smart cities worldwide
- 5.1.4. Challenges
  - 5.1.4.1. Security challenges in V2V communication architectures
5.2. Market Segmentation Analysis
- 5.2.1. Component: Growing adoption of software to adhere to established interoperability standards
- 5.2.2. Technology: Expanding usage of emergency vehicle notification technology to to shorten response times and enhance operational efficiencies
- 5.2.3. Type: Rising deployment of vehicle-to-vehicle (V2V) communication in passenger vehicles with growing progression towards autonomous vehicles
- 5.2.4. Connectivity: Increasing usage of cellular communication to facilitate seamless data transmission between vehicles
- 5.2.5. Deployment Type: Rising deployment of V2V technology by OEM to ensure seamless integration and compatibility with in-built systems
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Vehicle-to-Vehicle Communication Market, by Component

6.1. Introduction
6.2. Hardware
6.3. Software

7. Vehicle-to-Vehicle Communication Market, by Technology

7.1. Introduction
7.2. Automated Driver Assistance
7.3. Emergency Vehicle Notification
7.4. Fleet & Asset Management
7.5. Intelligent Traffic Systems
7.6. Parking Management System
7.7. Passenger Information System

8. Vehicle-to-Vehicle Communication Market, by Type

8.1. Introduction
8.2. Commercial Vehicle
8.3. Passenger Car

9. Vehicle-to-Vehicle Communication Market, by Connectivity

9.1. Introduction
9.2. Cellular
9.3. Dedicated Short-Range Communication

10. Vehicle-to-Vehicle Communication Market, by Deployment Type

10.1. Introduction
10.2. Aftermarket
10.3. OEM

11. Americas Vehicle-to-Vehicle Communication Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Vehicle-to-Vehicle Communication Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Vehicle-to-Vehicle Communication Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. TTTech Auto, ZettaScale Extend Collaboration to Launch In-vehicle, V2X Service
- 14.3.2. USD 9.8M to Boost Connected Vehicle Research and Expand Ann Arbor Deployment
- 14.3.3. The Road to Safety Opens in the U.S.
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio