What Has Been the Growth Trajectory for the Vehicle-to-Vehicle (V2V) Communication Market in Recent Years?
The vehicle-to-vehicle (v2v) communication market has seen considerable growth due to a variety of factors.
• The market size of the vehicle-to-vehicle (V2V) communication has seen a swift expansion in the past few years. The estimated growth implies an increase from $24.28 billion in 2024 to $27.1 billion in 2025, equating to a compound annual growth rate (CAGR) of 11.6%.
The spike in growth during the historical period could be credited to concerns over road safety, government guidelines, efforts to decrease traffic congestion, and developments in telematics and fleet administration.
How Does the Forecast Look for the Vehicle-to-Vehicle (V2V) Communication Market?
The vehicle-to-vehicle (v2v) communication market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for vehicle-to-vehicle (V2V) communication is predicted to experience accelerated growth, with projections seeing it increasing to a substantial $46.37 billion in 2029, boasting a compound annual growth rate (CAGR) of 14.4%.
This predicted expansion within the forecasted timeline is primarily due to increasing consumer awareness and acceptance, effective sharing of the dynamic spectrum, advancements in data privacy solutions, and a focus on user-centric mobility services. The period also foresees significant trends, such as the incorporation of smart contracts for self-driving vehicles, integration with traffic management systems, collaborations across various industries, dynamic spectrum management, the application of blockchain technology in managing autonomous vehicle fleets, along with cross-device authentication.
What Main Forces Are Fueling Expansion In The Vehicle-to-Vehicle (V2V) Communication Market?
The escalating worry over road safety is projected to fuel the expansion of the vehicle-to-vehicle communications market. Road traffic incidents not only result in substantial damage to infrastructure and human lives, but also lead to significant economic losses for individuals, families, and entire nations. Such accidents can be mitigated through enhancements in vehicle safety features, development of safer infrastructure, incorporation of road safety features, transportation planning, strict enforcement of laws related to major risks, and heightened public awareness. Numerous accidents occur due to insufficient road safety and inadequate measures for road safety, thereby necessitating vehicle-to-vehicle communications for improved safety. For example, in June 2024, the Department of Transportation, a US-based department responsible for planning and coordinating federal transportation projects, stated in a report that traffic-related deaths in 2022 increased in comparison to 2021 across several categories. These included a 2.0% hike in large-truck crashes leading to an additional 115 deaths, an 8.5% surge in fatalities among large-truck occupants with 86 more deaths, and a minimal 0.7% increase in pedestrian fatalities that caused 52 more deaths. As a result, the escalating worry over road safety is fueling the growth of the vehicle-to-vehicle communications market.
What Are The Primary Segments In The Global Vehicle-to-Vehicle (V2V) Communication Market?
The vehicle-to-vehicle (V2V) communication market covered in this report is segmented –
1) By Vehicle Type: Passenger Cars, Commercial Vehicles
2) By Connectivity: Dedicated Short-Range Communication (DSRC), Cellular
3) By Deployment Type: Original Equipment Manufacturer (OEM) Devices, After market Devices
4) By Application: Traffic Safety, Traffic Efficiency, Infotainment, Payments, Other Applications
Subsegments:
1) By Passenger Cars: Compact Cars, Sedans, SUVs, Electric Vehicles
2) By Commercial Vehicles: Trucks, Buses, Vans, Delivery Vehicles
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Which Key Trends Are Driving Changes In The Vehicle-to-Vehicle (V2V) Communication Market?
The growing popularity of technological innovation represents a key trend in the vehicle-to-vehicle communications market. To secure their market positions, dominant companies working within the vehicle-to-vehicle communications industry are concentrated on paving the way towards new technology-based solutions. For example, in October 2022, a communication technology company from India, Nav Wireless Technologies Pvt. Ltd., launched Defense Expo, a cutting-edge technology designed to facilitate more secure data exchange for armed forces through vehicle-to-vehicle communication. Defense Expo is a communication technology based on optical LiFi that leverages LEDs in vehicles to transmit data between vehicles via the light spectrum.
Who Are the Key Players in the Vehicle-to-Vehicle (V2V) Communication Market?
Major companies operating in the vehicle-to-vehicle (V2V) communication market include:
• General Motors Company
• Mercedes-Benz Group AG
• Toyota Motor Corporation
• Volkswagen Group
• Harman International Industries
• Mobileye Global Inc.
• Ford Motor Company
• Bayerische Motoren Werke AG
• Audi AG
• QualComm Inc.
• Cisco Systems Inc.
• Autotalks Ltd.
• DENSO Corporation
• Arada Systems Inc.
• Nissan Motor Co. Ltd.
• Honda Motor Company Ltd.
• Lear Corporation
• Huawei Technologies Co. Ltd.
• Hyundai Motor Company
• Samsung Group
• Kapsch TrafficCom AG
• Delphi Automotive PLC
• Zhejiang Geely Holding Group Co. Ltd.
• Tata Communications Ltd.
• Visteon Corporation
• Continental AG
• Cohda Wireless Pty. Ltd.
• Ficosa S. A.
• Panasonic Corporation
• Iteris Inc.
What Is The Most Dominant Region In The Vehicle-to-Vehicle (V2V) Communication Market?
North America was the largest region in the vehicle-to-vehicle (V2V) communication market in 2024.The regions covered in the vehicle-to-vehicle (V2V) communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
