According to a new market report published by Lucintel, the future of the global vehicular communication market looks promising with opportunities in the passenger cars, commercial vehicle, and electric vehicles markets. The global vehicular communication market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $60 billion by 2025 with a CAGR of 19% to 21% from 2020 to 2025. The major drivers for this market are growing concern for better traffic management, rising demand for real-time traffic congestion control for passenger safety, and increasing use of artificial intelligence in vehicles.

Browse 92 market data tables and 118 figures spread through 225 pages and in-depth TOC on “Global Vehicular Communication Market"

To download report brochure, please go to https://www.lucintel.com/vehicular-communication-market.aspx and click "report brochure" tab

In this market, different types of vehicular communication such as V2V, V2I, V2P and others are used as product type. On the basis of comprehensive research, Lucintel forecasts that the vehicle to vehicle segment will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing roadways communication infrastructure, development of wireless technology, and growing awareness for driver's safety.

Within this market, electric vehicle will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing electric vehicle production and higher penetration of vehicular communication system in electric vehicle as compare to ICE vehicles.

North America will remain the largest region due to favorable policies and regulations by the government to reduce accidents and the increasing need for a better and effective transportation system. Europe is expected to witness the highest growth over the forecast period due to increasing adoption of vehicular communication systems in luxury cars.

Emerging trends, which have a direct impact on the dynamics of the industry, include integration of predictive vehicle maintenance using real-time monitoring and development of artificial intelligence with vehicular infotainment system. Continental, Qualcomm, Continental, Robot Bosch, NXP semiconductors, Delphi Automotive, and Infineon technologies are among the major vehicular communication manufacturers.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the global vehicular communication market by product type, vehicle type, end user, offering and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Vehicular Communication Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global vehicular communication market by product type, vehicle type, end user, offering, and region as follows:

By Product Type ($M Shipment analysis from 2014 to 2025):

Vehicle to vehicle (V2V)Vehicle to infrastructure (V2I)Vehicle to pedestrians (V2P) Others
By Vehicle Type ($ M Shipment analysis from 2014 to 2025):

Passenger CarsLight Commercial VehiclesHeavy Commercial VehiclesElectric Vehicles
By Offering ($ M Shipment analysis from 2014 to 2025):

HardwareSoftware
By End User ($ Million from 2014 to 2025):

OEMAftermarket
By Region ($ Million from 2014 to 2025):

North AmericaUnited StatesCanadaMexicoEuropeGermanyRussiaFranceUnited KingdomItalyAsia PacificChinaJapanIndiaSouth KoreaIndonesiaThe Rest of the WorldBrazilTurkey
This 225-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/vehicular-communication-market.aspx or [email protected].

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.