The [FURL=https://www.industryarc.com/Report/19434/vehicle-to-pedestrian-communications-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]global Vehicle to Pedestrian (V2P) Communications market[/FURL] size is forecast to reach $1,796.3 million by 2026, growing at a CAGR of 16.5% from 2021 to 2026. Growing automotive safety concerns along with rising rate of road accidents have been attributing towards the need for vehicle to pedestrian (V2P) communications. In addition, shift towards opting for cellular or dedicated short range communication technologies to improve vehicle communication as well as stringent regulatory mandates towards deploying advanced driver assistance systems have been also driving the need for V2P communication solutions.Key Takeaways
Passenger vehicles segment is analyzed to witness the fastest growth in the global vehicle to pedestrian (V2P) communications market during 2021-2026, due to rising number of passenger car related road accidents or fatalities.
Europe vehicle to pedestrian (V2P) communications market held the largest share in 2020, owing to factors like growing adoption of V2X communication technologies by leading automakers and others.
Governmental regulations or initiatives towards improving pedestrian safety alongside increasing adoption of advanced technologies like IoT, artificial intelligence and many others for improving vehicular communication is analyzed to significantly drive the global vehicle to pedestrian (V2P) communications market during the forecast period.
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Vehicle to Pedestrian (V2P) Communications Market Segment Analysis-By Geography
Europe region had dominated the global vehicle to pedestrian (V2P) communications market with the largest share of around 38% in 2020, and is anticipated to witness a significant growth over the forecast period. Growing shift towards improving vehicle communication infrastructures along with adoption of V2X technologies by major leading automotive companies like Volkswagen, Daimler AG and so on have been attributing towards the market growth in the region.
Vehicle to Pedestrian (V2P) Communications Market Drivers
Growing adoption of advanced technologies like IoT, artificial intelligence and others to improve vehicular communication
Governmental regulations or initiatives towards improving pedestrian safety drives the market forward
Vehicle to Pedestrian (V2P) Communications Market Landscape
The vehicle to pedestrian (V2P) communications market top 10 companies include Qualcomm Technologies Inc., Robert Bosch GmbH, Continental AG, DENSO Corporation, Valeo, LG Electronics, Harman International, Autotalks Ltd., Continental AG and Infineon Technologies AG among others.
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