MarkNtel Advisors – Leading Market Research Company found GCC Vehicle-to-Vehicle (V2V) Communication Market is expected to reach 3.58% CAGR Growth By 2028.
This report provides a comprehensive analysis of the GCC Vehicle-to-Vehicle (V2V) Communication Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.
Comprehensive Analysis of the GCC Vehicle-to-Vehicle (V2V) Communication Market
Base Year: 2022
Forecast Years: 2023-2028
Historical Years: 2018-2021
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Scope of the GCC Vehicle-to-Vehicle (V2V) Communication Market Report:
The GCC Vehicle-to-Vehicle (V2V) Communication market is projected to grow at a CAGR of around 3.58% during the forecast period, i.e., 2023-28. The growth is attributed to the rising focus of the GCC nations to adopt digitalized & advanced cellular-based technologies in various industrial verticals, including automotive. Regional countries such as the UAE & Saudi Arabia are expected to register higher growth rates & hold a significant market share due to the growing uptake of the national governments & automotive manufacturers to boost the production activities of autonomous vehicles & boost their deployment in the national transportation services.
Moreover, continuous improvements & investments in upgrading the network technology from 3G & 4G to high-speed 5G connection by the government of Saudi Arabia & the UAE to enhance the penetration of digitalized services & adopt advanced mobility solutions is presumed to continue to support the integration of this communication technology in the automobiles in both the countries.
Which prominent factor is expected to drive the GCC Vehicle-to-Vehicle (V2V) Communication Market during 2023-28?
GCC governments are encouraging the use of vehicle-to-vehicle communication technologies to improve road safety, reduce traffic congestion, and enhance the overall efficiency of transportation systems. This is because V2V communication permits vehicles to interact with each other in real-time, which can provide drivers with warning of potential accidents or hazards on the road & aids in minimizing the number of mishaps & fatalities on the roadways.
The region is experiencing rapid urbanization, which is leading to increased traffic congestion & accidents. This technology can help to reduce these mishappenings by providing real-time traffic updates & rerouting suggestions. Additionally, the environmental benefits associated with this technology which include reducing the time that vehicles spend on the road & improving the efficiency of the transportation system, are further encouraging the government to promote the deployment of this communication technology in vehicles across the region.
Thus, with the growing awareness about road safety in the region, there is a greater focus on adopting technologies such as vehicle-to-vehicle communication, which would continue to propel the market growth during 2023-2028..
What are the different Segment Available in the GCC Vehicle-to-Vehicle (V2V) Communication Market?
By Connectivity Type
- Dedicated Short-Range Communication (DSRC)
- Cellular-based
- Others (WiFi and Bluetooth, etc.)
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Deployment Type
- OEM
- Aftermarket
By Application
- Collision Avoidance
- Traffic Management
- Infotainment
- Others (Emergency Vehicle warning, Intersection Safety, etc.)
By Country
- Saudi Arabia
- The UAE
- Qatar
- Kuwait
- Bahrain
- Oman.
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Leading GCC Vehicle-to-Vehicle (V2V) Communication companies operating in the Market
- Etrans Solutions
- Qualcomm
- Cisco Systems Inc.
- Delphi Automotive Plc.
- Autotalks
- DENSO Corporation
- Kapsh Group
- Savari Inc.
- Infenion Technologies AG
- Lear Corporation
- Others.
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