The vehicle-to-everything (V2X) industry, although mature in terms of technology, is nascent when it comes to implementation. The technology has been known to provide benefits such as reduced accidents, improved road safety, traffic management, and better co-ordination for autonomous vehicles. However, the automotive industry is yet to see a breakthrough in V2X adoption, in contrast to the rapid growth of electric vehicles in the global market.
This is partly because of the different approaches that automakers have taken to implement V2X. The choice of communication types preferred by automakers includes dedicated short-range communication (DSRC) and cellular V2X (C-V2X). The study covers the preferences of automakers and their roadmap for the next five years to implement V2X technologies. Based on this, forecasts are made while into account taking other factors such as regulations, infrastructure, technology development, and cost.
The regulatory environment is the biggest influencer to the adoption of V2X technology. Regulatory laws remain unclear because the governments and departments of transport in North America and Europe are struggling to bring clarity to the industry in terms of V2X and its scope and limitations. This study presents an overview of the type of regulatory framework that is being adopted in different countries and how each region plans to implement V2X.
With V2X, there are possibilities of new business models that could be explored by automakers, suppliers, and technology companies. This has been detailed through the case studies in this report, which hint on how the current conundrum can be used to the benefit of the companies using V2X within their existing conditions.
There are additional aspects of the V2X industry covered in the study such as the ecosystem, Euro new car assessment program (NCAP) framework, cost factors in 5G, applications and services, and competitive benchmarking of suppliers.
The study also presents potential growth opportunities for automakers and other market participants and derives strategic imperatives for companies to follow as recommendations. As a final word, Frost & Sullivan’s take on the industry and its future has also been summed up as three big predictions.
KEY ISSUES ADDRESSED
- What is the current status of the V2X industry?
- What are the expected regulations and what impact will they have on the automotive industry?
- What strategies will automakers apply for a sustainable model?
- When is mass adoption of V2X technologies expected to take place in North America, Europe, and China?
- What will be the future of V2X and automated driving systems?