Automotive Platooning System Market: Overview
The Automotive Platooning System market is expected to grow from USD 2.7 billion in 2021 to USD 30.2 billion by 2028, at a CAGR of 54.1% during the forecast period from 2022-2028. The increasing adoption of Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) technology in commercial vehicles is projected to drive the growth of this market over the next decade.
The automotive platooning system consists of networked automobiles with intercom capabilities. The main benefits of this technology include a decrease in fuel consumption, pollution, and an increase in traffic flow, all of which result in time savings. The market share for automobile platoons worldwide between 2021 and 2030 has been predicted.
The market is divided into Vehicle to Vehicle (V2V), Vehicle to Infrastructure, and Other Types (V2I).
between vehicles (V2V)
Vehicle to Vehicle (V2V) communication technology allows for the sharing of information between cars, including speed, location, and direction. This kind of technology gives drivers precise information about other vehicles on the road, which reduces accidents.
V2I: Vehicle to Infrastructure
The vehicle-to-infrastructure (V2I) communication system uses roadside units that are mounted on or incorporated into infrastructure systems for traffic light systems. The driver receives crucial information via V2I, including bus tracking and real-time traffic signal status. Road safety and traffic congestion are improved by this kind of vehicle communication.
The market is divided into five regions based on geography: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
The largest market for Automotive Platooning systems is in North America, which is anticipated to expand significantly over the forecast period. The market for Automotive Platooning Systems in the United States, which is the largest region in North America, is anticipated to expand significantly over the next years. Over the next five years, the North American market will expand due to an increase in demand for trucks to transport goods from one location to another brought on by the rise of the automotive industry.
Request Access Full Report is Available:@ https://www.zionmarketresearch.com/report/automotive-platooning-system-market
Automotive Platooning System Market: Competitive Outlook
Key players have lucratively impacted business space and are likely to do so even in foreseeable future. They are The Mercedes-Benz Group AG, Continental AG, Peloton Technology, MAN SE, IVECO Group N.V., Scania AB, Volvo Cars, Delphi Technologies, Nokia Growth Partners, Meritor Wabco, Navistar International Corporation, and TomTom N.V.
To ease traffic congestion, passenger vehicles use the automotive platooning system. By linking passenger and commercial vehicles, the distance between two locations can be travelled in less time. Additionally, the technology lowers accidents, CO2 emissions, and fuel consumption. It promotes efficient use of the roads.
Commercial vehicles’ automotive platooning system lowers the number of collisions, fatalities, and fuel consumption. It contributes to a 20–30% reduction in CO2 emissions. Driver and dispatcher productivity and efficiency are both increased by the system. It is a mode of transportation that has several potential uses.
Request a Sample Copy of the Research Report:@ https://www.zionmarketresearch.com/sample/automotive-platooning-system-market
The global Automotive Platooning System Market is segmented as follows:
- Vehicle to Vehicle (V2V)
- Vehicle to Infrastructure (V2I)
- Passenger Vehicles
- Commercial Vehicles
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa