Good Growth Opportunities in Global Automotive Platooning Systems Market Till 2026
The automotive platooning systems is defined as the collection of vehicles that travel together and which are in active coordination with each other. The vehicle platooning system uses different technologies to attain safe and competent transport. Platooning systems decrease the distance between two vehicles using electronic and mechanical coupling. This system allows the vehicles to accelerate or brake simultaneously. In addition to this, there are many advantages of automotive platooning systems. Some of them are increased traffic and fuel efficiency, more safety and driver comfort. There has been a lot of research and development activities over the past few years to make this concept a reality. The major players are also participating in several projects such as SARTRE, PATH, GCDC, Energy ITS, and many more, where this technique is tested and verified. The automotive platooning system is expected to be very lucrative market in the upcoming years.
Automotive Platooning Systems Market: Drivers and Restraints
One of the major driver for growth in the automotive platooning systems market is its added advantages such as great fuel economy, less traffic collisions and reduced congestion. The increasing automotive manufacturing is expected to boost the demand for automotive platooning systems, thus driving the global automotive platooning systems market. The major players in automotive platooning systems market are heavily investing in the development of platooning technology. The major challenges for the automotive platooning systems market are impaired drivers, technical errors of the vehicles and implementing new applications in existing road infrastructures.
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Automotive Platooning Systems Market: Segmentation
The automotive platooning systems market can be segmented based on vehicle type as
Light commercial vehicles
Heavy commercial vehicles
The automotive platooning systems market can also be segmented based on mode of communication as
Vehicle to Vehicle (V2V)
Vehicle to Infrastructure (V2I)
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Automotive Platooning Systems Market: Regional Outlook
On the basis of region the global pour point depressant market is segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East and Africa, Asia Pacific Countries excluding Japan and Japan. The automotive platooning systems is still undergoing a lot of research activities. These systems are expected to be largely adopted in the developed countries as compared to developing ones. Regions such as North America and Europe are anticipated to implement this system in the near future. The adoption level of automotive platooning systems is expected to increase a lesser pace in developing regions such as Asia Pacific and Eastern Europe.
Automotive Platooning Systems Market: Major key players
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Some of the major players identified in the global automotive platooning systems market are:
Denso International America, Inc.
Volvo Group Venture Capital
Magna International
UPS Strategic Enterprise Fund
Intel Capital
Nokia Growth Partners