Vehicle-to-Vehicle Communication Market Assessment Covering Growth Factors and Upcoming Trends
The global vehicle-to-vehicle communication market is predicted to reach a value of $77.1 billion in 2030, increasing from $14.5 billion in 2019, progressing at a 16.6% CAGR during the forecast period (2020–2030). The key factors leading to the growth of the market are the increasing demand for enhanced safety features in vehicles, existence of supportive government regulations, and growing adoption of connected vehicles. When vehicle type is taken into consideration, the market is divided into commercial vehicle and passenger car. On the basis of deployment, the V2V communication market is categorized into aftermarket devices and original equipment manufacturer (OEM) devices. Between these two, the OEM devices category accounted for the larger share of the market during the historical period (2015–2019), owing to the fact that most of the vehicle manufacturers offer in-built systems in their vehicles. In addition to this, these devices also provide highly precise information and cont...
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