Home > Automotive > Vehicle to Vehicle (V2V)/Vehicle to Infrastructure (V2I) Market
Vehicle to Vehicle (V2V)/Vehicle to Infrastructure (V2I) Market Size
Vehicle to Vehicle /Vehicle to Infrastructure Market size is poised for significant expansion over 2024 to 2032 due to the increasing adoption of advanced technology for development of connected vehicles. For instance, in 2024, Hyundai Motor Company and Kia Corporation collaborated with Samsung Electronics, a leading smartphone manufacturer, to pioneer connected car technology, aiming to deliver comprehensive Car-to-Home and Home-to-Car services.
Rapid urbanization and globalization are resulting in increasing traffic on the roads causing traffic congestions and accidents. The governments across the globe are putting in funds for enhance traffic management system. This is favoring the adoption of V2V and V2I technology that assists the drivers to better control the vehicles by obtaining information regarding height of an upcoming bridge, nearby vehicles or an obstacle in the road.
However, high operating costs and huge initial investment are the factors restraining the growth of V2V/V2I industry. Moreover, the developing countries lack reliable cellular connectivity and advanced infrastructure for smart communication between vehicles and infrastructure. This factor, along with the security and data privacy concerns related to huge data generated by the vehicles is having a negative impact on the market growth.
V2V/V2I Market Trends
The advancements in wireless technology, improving roadways communication infrastructure, sharing of vehicle information, and growing awareness for driver’s safety are boosting the vehicle to vehicle & vehicle to infrastructure market development. The use of smart connected technologies such as IoT, sensors and GPS in the V2V and V2I technology proves to be an effective tool for fleet management as the drivers get real time information regarding traffic congestions. The increasing traffic efficiency, along with the reduced transport time, fuel consumption, and environmental pollution using the technology is the shaping the industry outlook.
V2V/V2I Market Analysis
Based on vehicle type, the passenger vehicle segment will generate notable revenues up to 2032, owing to the integration of sophisticated communication systems that facilitate seamless interaction with both other vehicles and infrastructure. The V2V and V2I features in passenger vehicles enhance safety, traffic management, and overall driving experience. According to the WHO 2023 report, around 1.19 million lives are tragically lost due to road traffic crashes every year, and an additional 20 to 50 million individuals endure non-fatal injuries yearly. The focus on ensuring a safer and more efficient transportation ecosystem will bolster the technology adoption in passenger vehicles.
V2V/V2I Regional Analysis
Europe vehicle to vehicle/vehicle to infrastructure industry size is anticipated to witness a robust growth rate over 2024-2032, owing the presence of numerous automakers and technology providers, in consort with various projects undertaken by the government. The companies are engaging in partnerships and seeking fundings to bring about various reformations in the smart transportation services.
V2V/V2I Industry Players
The competitive landscape of V2V/V2I market is defined by the big names such as General Motors, Delphi Automotive LLP, Daimler AG, Toyota Motor Corporation, Audi, Volkswagen, BMW, and Volvo Cars.
V2V/V21 Market News
In October 2023, Nissan Hyper Adventure, a concept electric SUV, was unveiled for the adventurers. The vehicle features a large-capacity battery, enabling electric connectivity with external entities for V2X connectivity.