What Has Been the Progress and Growth of the Automotive Platooning System Market in Recent Years?
The automotive platooning system market has seen considerable growth due to a variety of factors.
• The automotive platooning system market has experienced exponential growth in recent years. It will grow from $4.46 billion in 2024 to $6.04 billion in 2025, reflecting a CAGR of 35.3%.
This rapid growth is driven by advancements in autonomous vehicle technology, government regulations and initiatives, increased traffic congestion, partnerships, and trials of platooning systems.
What Is The Expected Growth In The Automotive Platooning System Market Size Evolve over the Forecast Period?
The automotive platooning system market is expected to maintain its strong growth trajectory in upcoming years.
• The automotive platooning system market is forecast to experience rapid growth, reaching $20.03 billion by 2029 with a CAGR of 35.0%.
The expansion is driven by the growth of vehicle-to-everything (v2x) communication networks, integration with smart city initiatives, commercial fleet adoption, advances in safety technologies, and rising consumer demand for autonomous vehicles. Trends include the integration with electric vehicles (EVs), development of ADAS technologies, a focus on cybersecurity, the expansion of smart transportation infrastructure, and innovations in AI and machine learning.
What Main Forces Are Fueling Expansion In The Automotive Platooning System Market?
The growth in automotive manufacturing is expected to drive the automotive platooning system market. This rise is due to higher global demand for vehicles, technological advancements, and expanding markets. Automotive platooning systems improve efficiency by optimizing vehicle movement and reducing logistics costs through coordinated operations. For instance, in May 2023, ACEA reported that North America produced 13,596 thousand units in 2021, with production increasing to 14,901 thousand units in 2022, representing a 9.6% increase. As a result, the growth in automotive manufacturing is driving the expansion of the automotive platooning system market.
What Are The Primary Segments In The Global Automotive Platooning System Market?
The automotive platooning system market covered in this report is segmented –
1) By Type: Vehicle-To-Vehicle (V2V), Vehicle-To-Infrastructure (V2I), Vehicle-To-Everything (V2X)
2) By Components: Hardware, Software
3) By Functionality: Adaptive Cruise Control (ACC), Cooperative Adaptive Cruise Control (CACC)
4) By Application: Passenger Vehicles, Light-Duty Commercial Vehicles, Heavy-Duty Commercial Vehicles
5) By End-Use: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Vehicle-To-Vehicle (V2V): Vehicle Communication Systems For Platooning, Collision Avoidance And Safety Systems, Adaptive Cruise Control For V2v, Cooperative Lane Management, Cooperative Merging And Lane Changing, V2v Data Sharing For Enhanced Traffic Flow
2) By Vehicle-To-Infrastructure (V2I): Traffic Signal Coordination And Control, Roadside Unit (RSU) Communication For Platooning, V2i For Traffic Management And Congestion Reduction, Real-Time Traffic Data Exchange, Intelligent Road Signaling For Platooning Coordination, V2I For Automated Toll Collection And Parking Management
3) By Vehicle-To-Everything (V2X): V2X Communication For Autonomous Vehicles, V2X For Environmental Awareness (Weather, Road Conditions), V2X For Smart City Integration, V2X For Pedestrian And Cyclist Detection, V2X For Emergency Vehicle Communication, V2X For Multi-Vehicle Coordination And Platoon Control
Pre-Book The Automotive Platooning System Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What New Trends Are Influencing The Automotive Platooning System Market?
Companies in the automotive platooning system market are developing safety platforms to make convoy driving safer. These platforms integrate technologies designed to improve vehicle safety, reduce accidents, and minimize the severity of collisions. For instance, in September 2023, Vodafone Group Plc launched the Safer Transport for Europe Platform (STEP). This cloud-based platform allows vehicles to share safety information and hazard warnings, supporting cooperative platooning, even for driverless vehicles, ensuring safe distance and speed adjustments between vehicles, reducing accidents and fuel consumption.
Who Are the Key Players In The Automotive Platooning System Market?
Major companies operating in the automotive platooning system market are:
• The Bosch Group
• Hitachi Ltd.
• Zhejiang Geely Holding Group Co Ltd.
• Daimler Truck AG
• The Volvo Group
• TRATON GROUP
• ZF Friedrichshafen AG
• Continental AG
• Paccar Inc.
• Cummins Inc.
• Texas Instruments Inc.
• Aptiv PLC
• Iveco Group
• NXP Semiconductors N.V.
• Renesas Electronics Corporation
• Navistar Inc.
• Peloton Technology Inc.
• Omnitracs LLC
• DANLAW INC.
• Aeris Communications
• Yazaki Corporation
• Commsignia Ltd.
• WABCO Holdings Inc.
What Is The Most Dominant Region In The Automotive Platooning System Market?
North America was the largest region in the automotive platooning system market in 2024. The regions covered in the automotive platooning system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
