Global Vehicle-To-Vehicle (V2V) Communication Market was valued at USD 680 million in 2020 which is expected to reach at USD 12,735 million by 2027 at a CAGR 43.2%.
Vehicle-To-Vehicle (V2V) Communication is defined as a method where automobiles send messages to each other about information which includes braking location, speed, direction, and loss of stability. The growing adoption of Vehicle-to-Vehicle communication technology to reduce road traffic accidents which expected to drive the market growth. For instance, as per the Global Status Report on road safety 2018 by World Health Organization, around 1.35 accidents were reported per year, across the globe. Number of road accidents have witnessed considerable decline over the past few years, however, remain a primary concern due to damage to infrastructure & human Lives.
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Impact of COVID-19 on Market
Since the COVID-19 pandemic in December 2019, the virus has spread across the globe. It has significantly affected the global economy, manufacturing, travel, tourism, and financial markets. Almost all the industries suffering from damage, including the automotive industry. Automotive industry has been affected the most by the covid-19 outbreak as production is restricted around the globe, due to the lockdown guidelines, people are not allowed to go out.
The Global Vehicle-To-Vehicle (V2V) Communication Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America region has the highest market share in the Vehicle-to-Vehicle communication market size due to the increasing adoption of advanced technology, government regulations. As per the Vehicle to Vehicle (V2V) Communication Market Analysis, Europe region is anticipated to grow at a high CAGR rate in the forecast period due to the major growth in the Market.
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Various key operating players are listed in this report including Autotalks Ltd, Cisco Systems Inc., Ford Motor Co., Harman International Industries Inc., Kapsch TrafficCom , Delphi Automotive PLC, Denso Corporation, Infineon Technologies AG, Qualcomm Technologies Inc, Toyota Vacaville, etc.
By Connectivity Type
By Deployment Type
By End Use
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