Key Questions Answered in the Report:
- What will be the impact of V2X communication on the automotive industry?
- What are the key factors promoting V2X connectivity across different regions?
- What is the penetration of C-V2X and DSRC across different regions?
- What is the penetration of V2X in light vehicles and heavy vehicles?
- What are the roles and initiatives from governments, associations and consortium bolstering the V2X communication?
- What is the competitive positioning of various market leaders in the automotive V2X market?
- What are the key offerings of the prominent companies in the market?
- What regions and countries led the automotive V2X market in 2019, and which among those are expected to witness the highest demand growth during the forecast period 2020-2025?
- What are the key drivers, challenges, and opportunities for automotive V2X market players?
Automotive V2X Market Forecast, 2020-2025
The automotive V2X market is expected to reach $10.55 billion by 2025. The automotive V2X market valued at $5.78 million and 19.6 thousand units in 2019, in terms of value and volume and is anticipated to grow at CAGRs of 265.87% and 268.49% respectively, during the forecast period, 2020-2025. The increasing need for enhanced road safety, numerous initiatives from the government, participation of various automotive manufacturers, and increasing vehicular congestion and pollution are expected to accelerate the growth of the automotive V2X market. The Asia-Pacific and Japan region dominated the automotive V2X market in 2019, whereas the U.K. region is expected to showcase the highest growth rate during the forecast period.
The increasing need for enhanced road safety, numerous initiatives from the government, participation of various automotive manufacturers and increasing vehicular congestion and pollution are expected to further bolster the growth of the automotive V2X market.
“The automotive V2X market reflected excellent demand expansion from the light vehicles segment, with a growth rate of more than 269.55%, in terms of volume. There are several ongoing V2X testing and trials worldwide in the current scenario. The cellular-V2X is expected to be in high demand with the emergence and commercialization of 5G infrastructures. China is actively involved in the development of C-V2X communication and is pushing 5G deployment in the country. Companies such as Huawei Technologies Co., Ltd., and ZTE Corporation are leveraged by substantial government investments to deploy 5G in cities of China."
Scope of the Automotive V2X Market
The report constitutes of an extensive study of the automotive V2X market. The report includes a thorough analysis of different products, such as DSRC and C-V2X technology. Additionally, the study also includes the end-use application analysis of the automotive V2X market. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and predictive tools. The principal purpose of this market analysis is to examine the automotive V2X market outlook in terms of factors driving the market, restraints, trends, and opportunities, among others.
The market analysis includes an in-depth examination of the key ecosystem players and key strategies and developments taking place in this market. It includes market dynamics (market drivers, opportunities, and challenges) and industry analysis. The purpose of the study is to gain a holistic view of the automotive V2X market in terms of various factors influencing it. The market has been segmented on the basis of product type, application type, and region.
The automotive V2X market, based on product type, is segmented into direct-short range communication (DSRC) and cellular-V2X (C-V2X). The C-V2X segment is expected to dominate from 2021 in the forecast period of the automotive V2X market.
The automotive V2X market, by application, is segmented into light vehicles and heavy vehicles. The light vehicles segment is expected to dominate the automotive V2X market throughout the forecast period in terms of volume and value.
Based on region, the automotive V2X market is segmented into Asia-Pacific & Japan, Europe, U.K., China, North America, and South America, and Middle East and Africa. Each region is segmented into countries. Data for each of these regions and countries is provided by product type and application type.
Impact of COVID-19 on Automotive V2X Market
The impact of COVID-19 on the automotive manufacturing industry and the semiconductor industry is predicted to adversely affect the automotive V2X market. The semiconductor industry is facing the shortage of materials, components, and finished goods, which is successively impacting the suppliers. Additionally, the automotive industry is witnessing reduced global vehicle sales and shutting down of production facilities, that are seriously affecting the availability chains. However, to fight the COVID-19 pandemic, OEMs, and suppliers, across the planet, are reconfiguring their plant capabilities to supply medical equipment and private protection equipment (PPE). For instance, Mahindra aims to build personal ventilators with a $100 target price. Additionally, in the U.S., Ford, in partnership with General Motors, is manufacturing ventilators and PPE surgical gear in partnership.
Key Companies in the Automotive V2X Market
The companies profiled in the report are AutoTalks Ltd, Cohda Wireless, Continental AG, Denso Corporation, HaaS Alert, HARMAN International, Huawei Technologies Co., Ltd., Lear Corporation, Neusoft Corporation, NXP Semiconductors, Qualcomm Technologies, Inc., Robert Bosch GmbH, Rohde & Schwarz, Savari, Inc., and Infineon.