23-Mar-2022 | Zion Market Research
According to report of Zion Market Research, Automotive Platooning System industry gathered revenue worth about US$ 2.7 billion in 2021 and is slated to accumulate returns of approx. US$ 30.2 billion by 2028. In addition to this, Automotive Platooning System market is set to register CAGR of nearly 54.1% in 2022-2028. Apparently, expansion of automotive platooning system industry over forecasting timeline is subject to need for reduced traffic jams, road accidents, and enhancement of fuel economy. Thriving automotive sector will further contribute towards growth of automotive platooning system market in years ahead. Key players in automotive platooning business are investing massively in development of novel platooning systems, thereby driving market trends. A prominent surge in acceptance of vehicle-to-vehicle and vehicle-to-infrastructure technologies will amplify demand for automotive platooning systems.
Vehicle To Vehicle (V2V) Segment To Dominate Type Landscape Over 2022-2028
Expansion of vehicle to vehicle (V2V) segment over forecasting period is due to ability of vehicle to vehicle communications tools in sharing data pertaining to speed, location, and direction of vehicles. Apart from this, it offers exact information to commuters about other kind of automotive on roads, thereby minimizing chances of fatal vehicular collisions.
Passenger Vehicles Segment To Account Majorly Towards Overall Market Size By 2028
Segmental growth over forecasting timeframe can be attributed to escalating use of automotive platooning system in passenger vehicles. In addition to this, need for reducing traffic jams will translate into huge penetration of automotive platooning tools in passenger vehicle segment. Apparently, it also reduces carbon emissions along with enhancing fuel efficacy.
North America To Account Majorly Towards Regional Market Share In Next Six Years
Growth of automotive platooning system market in region over forecasting timeframe is subject to surge in demand for truck as a mode of good transport in countries such as Canada and the U.S. In addition to this, large-scale production of automotive platooning systems in sub-continent will contribute opulently towards regional market earnings.
Some of the key players have strongly leveraged business and are likely to establish a strong position in automotive platooning system market within next few years. We have profiled them in our market research report and they are Peloton Technology, Delphi Technologies, Volvo Cars, The Mercedes-Benz Group AG, Navistar International Corporation, Continental AG, Meritor Wabco, MAN SE, IVECO Group N.V., Scania AB, Nokia Growth Partners, and TomTom N.V.
Browse the full “Automotive Platooning System Market- By Type (Vehicle to Vehicle (V2V) and Vehicle to Infrastructure (V2I)) and By Application (Passenger Vehicles and Commercial Vehicles): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2022–2028.” Report at https://www.zionmarketresearch.com/report/automotive-platooning-system-market
The global Automotive Platooning System Market is segmented as follows:
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