Vehicle To Vehicle Communication Systems Market | Size, Opportunities, Prominent Players Analysis

25 March 2019

The global V2V communication market was worth USD 1500 million in 2015 and is estimated to exceed at a CAGR 5% by 2024.on account of shifting trends towards technology side and safety side’s methods. For automobile markets by recent studies, it has been estimated that around 70% of global automobile demand will be met by vehicle to vehicle communication systems in the near future.

The process of providing safety to customers and drivers has raised substantially in from past years.Increasing the concerns of accidents, increasing the usage of automobiles, and traffic congestion systems are further expected to stringent regulations to increase. The customer safety remains to stimulate the demand for which remain in reduced transportation time, fuel thus it's contributing improving the environment, which is like to drive the market, the foremost preference.

V2V systems have transmitter and receivers that help the vehicle to transmit the steering-wheel position, speed, position, break status, steering-wheel position and other data vehicles ranges within few 100 meters. The interconnected vehicles and cars could make use this information, rebuilt it the information sends message to the driver and gives indications in case of any danger and the alerts the driver which is improving the safety concerns of the driver because these factors are responsible for driving the market during the forecast period from 2016 to 2024

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The global V2V communications system is been segmented on the basis of region, type, application and brand. On the basis of application, the market is further segmented into, emergency brake warning, blind spot no pass and control loss warning, forward collision warning, and backwards warring and many such other applications are available in the V2V systems which help in preventing collisions. With the last one occupying the largest market share and expected to grow at CAGR of 45% in near future.

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

On the on-going technologies are working on the cost effectiveness the methods but the efficiency of this V2V is decreasing slowly hence it could be one of the key restraint for market growth.

All these technologies are used for V2V systems depending on the location and the investment. The technological advancements giving rise to efficient and cost-effective methods of communication between are likely to impel the market growth over the foreseeable future.

These V2V communication systems generate more and more data if a consumer chooses to share it. This has a huge potential range of the customer end game products such as food, retail market and may more. This will become a technological advantage to and source of competition to OEM service providers and technologies service provider who work on traffic flow management firms.

On the basis of OEM device technology which includes after device and infrastructure base device and these devices offers accurate information using vehicle information technology and generate basic information to the driver regarding the safety. And after device provides alerts with the driver of a vehicle to those provided by this technology

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