The global automotive V2X market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.6 Billion by 2028, exhibiting a growth rate (CAGR) of 43.9% during 2023-2028.
Automotive vehicle to everything (V2X) is a communication system that supports the real-time exchange of information between the cloud, infrastructure and vehicles. It assists in improving the experience of the driver by providing upcoming traffic warnings, alternative routes, and available parking spaces. Besides this, it also helps avoid traffic, severity of injuries, road accident fatalities, and collision with other vehicles. As a result, it is integrated into conventional cars around the world for allowing drivers to receive information about approaching vehicles, weather patterns, road conditions and activities of other drivers, thereby safeguarding the vehicle and its passengers.
Automotive V2X Market Trends:
Due to the rising air pollution, environmental concerns and sales of vehicles worldwide, governing agencies of numerous countries are implementing strict regulations to minimize carbon emissions. This represents one of the major factors encouraging manufacturers to incorporate V2X technology into vehicles. A significant rise in the number of road accidents is also propelling the need for automotive V2X to enhance fuel savings, traffic efficiency, and driver and road safety. Moreover, with rapid urbanization and inflating disposable incomes, the demand for intelligent and connected vehicles is escalating across the globe. V2X systems are incorporated into vehicles to allow minimized human intervention. Besides this, the leading companies are offering hybrid solutions that involve 4G and 5G network access, dedicated short-range communication (DSRC), and cellular V2X communication to expand their existing consumer base and retain their position in the market. In confluence with this, the rising deployment of 5G technology and partnerships between cellular and transportation companies to deliver efficient and innovative transportation solutions are also contributing to the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive V2X market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on communication, connectivity and vehicle type.
Breakup by Communication:
Vehicle-to-Vehicle (V2V)
Vehicle-to-Infrastructure (V2I)
Vehicle-to-Pedestrian (V2P)
Vehicle-to-Grid (V2G)
Vehicle-to-Cloud (V2C)
Vehicle-to-Device (V2D)
Breakup by Connectivity:
Dedicated Short-Range Communication (DSRC)
Cellular-V2X (C-V2X) Communication
Breakup by Vehicle Type:
Passenger Cars
Commercial Vehicles
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Autotalks Ltd, Capgemini SE, Continental AG, HARMAN International (Samsung Electronics Co. Ltd.), Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies Inc, Robert Bosch GmbH and STMicroelectronics.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Communication, Connectivity, Vehicle Type, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Autotalks Ltd, Capgemini SE, Continental AG, HARMAN International (Samsung Electronics Co. Ltd.), Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies Inc, Robert Bosch GmbH and STMicroelectronics
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global automotive V2X market was valued at US$ 3.2 Billion in 2022.
We expect the global automotive V2X market to exhibit a CAGR of 43.9% during 2023-2028.
The rising number of road accidents, coupled with the growing adoption of automotive V2X systems to enhance fuel savings, traffic efficiency, and driver and road safety, is primarily driving the global automotive V2X market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous automotive manufacturing units, thereby decreasing the demand for automotive V2X communication system.
Based on the communication, the global automotive V2X market can be segmented into Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Grid (V2G), Vehicle-to-Cloud (V2C), and Vehicle-to-Device (V2D). Among these, Vehicle-to-Vehicle (V2V) currently holds the majority of the total market share.
Based on the connectivity, the global automotive V2X market has been divided into Dedicated Short-Range Communication (DSRC) and Cellular-V2X (C-V2X) communication, where Cellular-V2X (C-V2X) communication exhibits a clear dominance in the market.
Based on the vehicle type, the global automotive V2X market can be categorized into passenger cars and commercial vehicles. Currently, passenger cars account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global automotive V2X market include Autotalks Ltd, Capgemini SE, Continental AG, HARMAN International (Samsung Electronics Co. Ltd.), Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies Inc, Robert Bosch GmbH, and STMicroelectronics.
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