Vehicle to Vehicle Communication to be installed in 62 Million Vehicles by 2023
December 13, 2018 | Juniper ResearchEstimated reading time: 1 minute
A new report from Juniper Research has revealed that over 62 million vehicles will be capable of V2V (vehicle-to-vehicle) communication by 2023; rising from just over 1.1 million in 2019. This represents an average annual growth rate of 173% over these 4 years. V2V solutions enable low-latency communications between vehicles, notably for the purpose of driver safety.
The new study, Consumer Connected Cars: Telematics, In-Vehicle Apps & Connected Car Commerce 2018-2023 found that that the rollouts of 5G networks, anticipated to launch next year, will be the key accelerant behind the expansion of V2V communications. It predicted that automotive OEMs will gravitate towards 5G for V2V communication over other technologies; owing to its lower latency and high range.
For more insights, download our free whitepaper: Connected Cars: How 5G, Connected Commerce & Blockchain will disrupt the Ecosystem.
60% of New Vehicle Sales in US to be V2V Capable by 2023
Juniper found that the move towards 5G will expedite commercial deployments and interoperability, and predicted that the US will become the leading market for V2V deployments. The report predicts that over 60% of new vehicles sold in the US will be V2V-capable by 2023.
In turn, the technology could prevent over 9,300 deaths per annum in the country, representing 1 in 4 motor vehicle deaths.
Research author Sam Barker remarked: “The safety benefits of V2V are clear, however no incumbent technology can provide the network conditions across the entirety of road networks. 5G will be the key facilitating technology of these automotive safety features, however long vehicle refresh rates, typically around 8-12 years, will hinder mass adoption.”
5G to Disrupt Automotive Business Models
The research also predicted that automotive OEMs will explore new strategies to generate revenues beyond the vehicle sale, including in-vehicle content subscriptions. It predicted that revenues from directly-integrated vehicle apps will exceed $2.2 billion by 2023. Juniper advised that in addition to leveraging 5G networks, OEMs must open up their in-vehicle ecosystems to third parties in order to accelerate the development of emerging and future automotive content revenue streams.
Suggested Items
Koh Young Showcases Award-winning Inspection Solutions at SMTconnect with SmartRep in Hall 4A.225
04/25/2024 | Koh Young TechnologyKoh Young Technology, the industry leader in True 3D measurement-based inspection solutions, will showcase an array of award-winning inspection and measurement solutions at SMTconnect alongside its sales partner, SmartRep, in booth 4A.225 at NürnbergMesse from June 11-13, 2023. The following offers a glimpse into what Koh Young will present at the tradeshow:
Real Time with… IPC APEX EXPO 2024: Plasmatreat: Innovative Surface Preparation Solutions
04/25/2024 | Real Time with...IPC APEX EXPOIn this interview, Editor Nolan Johnson speaks with Hardev Grewal, CEO and president of Plasmatreat, a developer of atmospheric plasma solutions. Plasmatreat uses clean compressed air and electricity to create plasma, offering environmentally friendly methods for surface preparation. Their technology measures plasma density for process optimization and can remove organic micro-contamination. Nolan and Hardev also discuss REDOX-Tool, a new technology for removing metal oxides.
Nanotechnology Market to Surpass $53.51 Billion by 2031
04/25/2024 | PRNewswireSkyQuest projects that the nanotechnology market will attain a value of USD 53.51 billion by 2031, with a CAGR of 36.4% over the forecast period (2024-2031).
Cadence, TSMC Collaborate on Wide-Ranging Innovations to Transform System and Semiconductor Design
04/25/2024 | Cadence Design SystemsCadence Design Systems, Inc. and TSMC have extended their longstanding collaboration by announcing a broad range of innovative technology advancements to accelerate design, including developments ranging from 3D-IC and advanced process nodes to design IP and photonics.
SMC Korea 2024 to Highlight Semiconductor Materials Trends and Innovations on Industry’s Path to $1 Trillion
04/24/2024 | SEMIWith Korea a major consumer of semiconductor materials and advanced materials a key driver of innovation on the industry’s path to $1 trillion, industry leaders and experts will gather at SMC (Strategic Materials Conference) Korea 2024 on May 29 at the Suwon Convention Center in Gyeonggi-do, South Korea to provide insights into the latest materials developments and trends. Registration is open.