Advertising Driven Press Release Distribution
Advertising Driven Press Release Distribution
Vehicle to Vehicle (V2V) Communication ensures the safety of riders and traffic control by using advanced sensors and technologies. V2V communication helps the driver to gather real-time information around him through the internet and the connected smart devices inside and outside of the car.
It allows communication with other vehicles which are traveling on the same road and can exchange the information about accidents, weather, roadblocks, traffic, etc. Thus, helping the traffic congestion and enhancing experience of the passengers. Growing concerns about the road safety is a dominant driving force behind the growth of the vehicle to vehicle communication market.
Market Research Future (MRFR), in its recently published study report asserts that the global vehicle to vehicle communication market is expected to reach approx. 24 Bn. USD by 2023, registering 6?GR throughout the assessment period (2017-2023).
The vehicle to vehicle communication is a pet topic for the future of the automotive industry. While Original Equipment Manufacturers (OEMs) already offer a range of in-car integrated solutions, these often fail to provide what customers really need. They are also extremely expensive due to the substantial R&D costs invested in their developments. As a result, these connectivity solutions have been slow to find their way into the car park, nowhere more so than in the volume segment.
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The Vehicle to Vehicle (V2V) Communication market is segmented based on technology, type, and application. The market is categorized into computing, smart sensors, big data analytics, and others in the technology segment. The type segment comprises devices such as OEM devices, aftermarket devices, and infrastructure-based devices. The application section of the market comprises a traffic management system, group talk service, intelligent transport management system, and others.
Currently, the North America region is dominating the market for V2V communication with the largest market share. Technological advancement and the availability of advanced infrastructure are some of the key drivers of this market. The US backed by the presence of major players, accounts for the largest market in the region.
Going ahead, Europe stands as the second biggest market of V2V communication due to the well-proliferated automotive sector, high standard of living of European countries and high investment in the automotive. Also, technical advancements and increasing awareness about road safety are too supporting the market growth in the region
Asia Pacific has emerged as fastest growing market with the substantial CAGR. The current market of V2V communication in the APAC region has been valued hugely which is expected to grow further over previous growth records by the end of the forecasted period.
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August 16, 2018 – Ford Motor Company, Panasonic North America, and Qualcomm Technologies announced their partnership to offer Cellular Vehicle to Everything (C-V2X) direct communication. The new technology – C-V2X, will be able to connect vehicles, roads and regional traffic management centers to improve safety and traffic efficiency as the automotive sector progresses toward more capable and cooperative automated vehicles.
June 15, 2018 – Volvo Trucks (North America) completed a demonstration of platooning technology across the North Carolina Turnpike. Consisting of three trained, professional truck drivers in Volvo VNL tractors, each pulling double 28-foot trailers, the platoon through CACC, a wireless vehicle-to-vehicle communication technology allowed the tractors and trailers to remain in constant communication.
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