Juniper Research predicts that over 62 million vehicles will be capable of Vehicle-to-Vehicle (V2V) communication by 2023; up from just over 1.1 million in 2019.
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 revealed that the rollouts of 5G networks in 2019 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.
The Juniper study 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 with over 60% of new vehicles sold in the US V2V-capable by 2023. The technology could prevent over 9,300 deaths per annum in the country, representing 25% of motor vehicle fatalities.
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.