Vehicular Communication Systems Market

Vehicular Communication Systems Market Outlook -2027 

The vehicular communication system transmits data between motor vehicles through a wireless medium. This data includes the activities of the vehicles such as their location, speed, direction of travel, loss of stability, and brake. The range of dedicated short-range communication (DSRC), a technology that is used by the vehicle-to-vehicle communication technology with a range of up to 300 mtrs or 1,000 mtrs or 10 seconds at highway speeds has a wider application in vehicles. Its aim is to prevent accidents by communicating between themselves over and ad hoc network. Depending up on the implementation of technology, the driver is warned about the risk ahead and instructed to slow down accordingly. In addition, the communication offersall-round information of risks and is expected to be more effective by including technologies such as adaptive cruise control, blind-spot detection, rear-parking sonar, blind-spot detection, lane departure, and backup camera. Increase in number of accidents is expected to fuel the vehicular communication systems market over the forecast period.

COVID-19 scenario analysis:

• TheCOVID-19 pandemic has forced governments across the globe to focus their spending on healthcare and safeguarding the economy, which could result in shifting priorities away from the defense sector.
• The verdict has conducted a poll in many countries to assess whether defense budgets will be shielded by the impact of the COVID-19 outbreak.
• Some countries have already announced a reduction in defense expenditure amid the COVID-19 crisis.
• The peak season for the tourism industry which sees hundreds of travelers flocking to popular destinations has also been completely vanished due to pandemic across the globe.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Increase in demand for fully autonomous driving & safe vehicles and rise in demand for connected carsare expected to spur the demand for vehicular communication systems over the forecast period. Moreover, latency/reliability challenges are anticipated to hamper the market growth. Furthermore, increase in support from governments for v2x technology and advancements in 5Gtechnologyis expected to offer lucrative opportunities for the market over the forecastperiod.

The vehicular communication systems market trends are as follows:

Increase indemand for fully-autonomous driving & safe vehicles 

Due to increased instances of car accidents, customers and insurance companies have forced automakers to introduce safety features for their vehicles,thereby supporting the vehicular communication systems market. Customers are much keener about the security and safety provided by the company. Therefore, increase in concern of customers while buying a vehicle is expected to foster the growth of the vehicular communication systems market in the coming years.

Increase indemand for connected cars 

Connected car communicates bi-directionally with other systems outside of the car or with another car installed with the same feature. This feature allows the car to share internet access and data with other devices both inside and outside the vehicle. As the vehicular communicator system also enhances the safety of the vehicle, it is estimated to boost the demand for the product over the forecast period

Key benefits of the report:

• This study presents the analytical depiction of the vehicular communication systems market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the vehicular communication systems market share.
• The current market is quantitatively analyzed to highlight the vehicular communication systems market scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years. 

Questions answered in the vehicular communication systems market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?
• What are the projections for the future that would help in taking further strategic steps?

 Vehicular Communication Systems Market Report Highlights