Connected cars will improve safety and control congestion on the roads, cars would communicate and send alerts if a crash seem imminent, these features would attract the customers increasing their safety and ease to drive encouraging the growth in vehicle to vehicle communication market.
Advancement in wireless communication, sharing of information, and growing roadside communication infrastructure are driving the vehicle to vehicle communication market. Due to its potential to improve vehicle and road safety, traffic efficiency, convenience and comfort for passengers as well as drivers, the adoption in automotive industry is positively impacting the V2V communication market.
However, standardization of protocol and security issues are a major restraint for the V2V communication market. Contrarily, increasing in support from government for V2X technology and advancements in 5G technology is expected to accelerate the growth of V2V communication market n forecasted years.
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Safety has become a major concern, and despite efforts to raise awareness and educate on safe driving, the main cause of car accidents remains human error. Vehicle to vehicle communication technology can help mitigate anywhere up to 70% to 80% of vehicle crashes involving human error.
V2V communication technology can increase the performance of vehicle safety systems and help save lives. Connected vehicle technologies will provide drivers with the tools they need to anticipate potential crashes and significantly reduce the number of lives lost each year.
V2V communication improves traffic management and reduces congestion. Law enforcement officials can use vehicle to vehicle communication to monitor and manage traffic by using real-time data streaming from vehicles to reduce congestion on the road.
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V2V communication can help officials re-route traffic, track vehicle locations, adapt traffic light schedules, and address speed limits. Drivers using V2V communication can avoid traffic jams and maintain a safe distance from other cars increasing the demand for V2V in automotive sector.
Major players analyzed in the market include Arada Systems Inc., Autotalks Ltd., Cisco Systems Inc, Delphi Technologies PLC, DENSO Corporation, eTrans Systems, Qualcomm Technologies Inc., Savari Inc., and The Kapsch Group.
Key benefits of the report:
- This study presents the analytical depiction of the global vehicle to vehicle communications industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global vehicle to vehicle communications market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global vehicle to vehicle communications market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global vehicle to vehicle communications market analysis depending on competitive intensity and how the competition will take shape in coming years.
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