Automotive Vehicle-to-Everything (V2X) Market

Automotive Vehicle-to-Everything (V2X) Market Size (2023-2028):

The Global Automotive Vehicle-to-Everything (V2X) Market was worth US$ 3 billion in 2022 and is anticipated to reach a valuation of US$ 16 billion by 2028 and is predicted to register a CAGR of 39.80% during 2023-2028.

Market Overview:

The vehicle business is experiencing a progression of change, with the industry moving towards digitalization and associated versatility. There has been a critical ascent in the use of hardware in vehicles. The vehicles today have moved from ordinary vehicles to insightful vehicles and are furnished with correspondence frameworks that alarm or help the driver from a potential mishap. Besides, the rising purchaser interest in accommodation highlights has implemented different OEMs to consolidate V2X correspondence frameworks. The usage of the V2X correspondence won't just increment the security aspect, but, will likewise give an improved driving experience.

Market Drivers:

The expansion in the global automobile vehicle-to-everything (V2X) market is driven by expanding requirements for more secure streets, lower fuel wastage and lesser traffic clogs. Besides, expanding security worry with energy saving is fueling the worldwide automobile vehicle-to-everything business. Macroeconomic factors, for example, developing economy, rising extra cash, and quick pace of urbanization just as industrialization likewise driving the global automobile vehicle-to-everything industry. Joining the significant value chain, expanding automation, and technological progression is a portion of the elements trending in the worldwide automobile vehicle-to-everything market over the conjecture time frame.

Market Restraints:

The main challenge for the automotive V2X market to grow significantly is the need for a robust legal framework. Another important challenge is to build a secure system that ensures privacy, authenticity, and security for all types of V2X communication.

Market Recent Developments:

•  The innovative organization Continental is building up an adaptable 5G hybrid stage that permits both mobile network correspondence and quick and solid direct trade of information. These advantages are being acknowledged with a first client grant for this 5G-Hybrid-V2X arrangement.
• The configurable AI-500-095 Dual-Mode RSU with the 9150 C-V2X chipset gives direct correspondence of Signal Phase and Timing (SPaT) and Basic Safety Messages (BSMs) to equipped vehicles and cell phones.
• Toyota puts Connected-Car Tech plans on hold as of now. The automaker had said it would empower V2X beginning in 2021, however, has now suspended the venture

AUTOMOTIVE VEHICLE-TO-EVERYTHING (V2X) MARKET REPORT COVERAGE:

Market Segmentation:

Automotive Vehicle-to-Everything (V2X) Market - By Offering:

• Hardware
• Software 

Among these, the software is relied upon to grow at a moderately high CAGR over the conjecture time frame.

Automotive Vehicle-to-Everything (V2X) Market - 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)

Among these, the vehicle-to-vehicle portion represents a generally high-income share in the worldwide automobile vehicle-to-everything (V2X) market followed by the vehicle-to-network section over the foreseen time. The V2V communication fragment is relied upon to have the most significant portion of the global automobile V2X market. V2V improves vehicle security through highlights, for example, forward collision warning (FCW) and lane changing warning (LCW). The developing security worries among people in general and the government's contribution to expanding car crashes is a significant driving variables for the development of the automobile V2V market.

Automotive Vehicle-to-Everything (V2X) Market - By Propulsion:

• ICE
• EV

Automotive Vehicle-to-Everything (V2X) Market - By Connectivity:

• Cellular
• DSRC

Among these, DSRC is relied upon to have a huge development rate over the estimated time frame. The progressions in 5G innovations would empower the uses of 5G-V2X relied upon to offer better execution as far as cybersecurity and taking care of countless messages in blocked traffic conditions. Another factor that would drive the cellular portion is the expense related to equipment parts. The DSRC fragment, to perform V2P communication, requires extra hardware segments, which makes it costly contrasted with C-V2X.

Automotive Vehicle-to-Everything (V2X) Market - By Technology:

• Automated driver assistance
• Intelligent traffic systems
• Emergency vehicle notification
• Passenger information system
• Fleet & asset management
• Parking management system
• Line of sight
• Non-line of sight
• Backing
• Others

Among these, the automated driver assistance section is developing at a moderately high CAGR in the global automobile vehicle-to-everything market.

Automotive Vehicle-to-Everything (V2X) Market - By Vehicle Type:

• Passenger car
• Commercial vehicle

Of these, the passenger section is developing at a generous worth in the worldwide automobile vehicle-to-everything (V2X) market through the commercial fragment is presumed to represent a moderately high-income share over the estimated period.

Automotive Vehicle-to-Everything (V2X) Market - By Unit Type:

• On-Board Unit
• Roadside Unit

Market Reginal Analysis:

The Global Automotive Vehicle-to-Everything (V2X) Market Report includes the segmentation of regions:

• North America - U.S, Canada

• Europe - Norway, Germany, Sweden

• Asia Pacific - China, India, Japan

• Latin America - Brazil, Mexico, Argentina

• Middle East and Africa - Middle East, Africa

North America is relied upon to rule the global automobile vehicle-to-everything (V2X) market as far as value, credited to the popularity of eco-friendly vehicles over the locale. Europe is relied upon to have the most significant portion of the global automotive V2X market during the foreseen time. The improved framework facility in Europe permits a simple arrangement of V2X. The presence of top players in the Robert Bosch GmbH, Continental AG, and Delphi Technologies, alongside huge scope appropriation of V2X-equipped vehicles, is relied upon to significantly affect the European automobile V2X market. The Middle East, Latin America, and Africa are anticipated to have similarly immense possibilities for automotive vehicle-to-everything key market players, attributing to expanding economy and industrialization.

Market Key Players:

1. Continental AG
2. Infineon Technologies AG
3. Qualcomm Inc.
4. Toyota Motor Corporation
5. Delphi Automotive PLC
6. Cohda Wireless Pty
7. Savari Technologies Pvt. Ltd.
8. Kapsch TrafficCom
9. eTrans Systems
10. Arada Systems Inc.
11. Denso Corporation
12. AutoTalks Ltd.
13. Volkswagen AG
14. General Motors Company
15. Daimler AG
16. BMW Group.