BASINGSTOKE, England–(BUSINESS WIRE)–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 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.
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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
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
Juniper Research provides research and analytical services to the global
hi-tech communications sector, providing consultancy, analyst reports
and industry commentary.
For further details please contact Sam Smith, Press Relations