Global V2X in automotive market was valued USD 881.62 Million in 2020 and is predicted to grow at CAGR of around 15.82%, in value terms, over the next five years, on the back of rapid increase in urbanization and industrialization across the globe. V2X stands for Vehicle-to-Everything (V2X) technology which enables the automotive vehicle to interact virtually with everything moving in surrounding environment. It is a vehicular communication approach that supports the transmission of information from a vehicle to its surrounding traffic that can affect the movement of the vehicle. The goal behind installing a Vehicle-to-Everything technology in a vehicle is to improve road safety, energy reduction, and to increase traffic efficiency on the roads. The V2X-based Intelligent Transport System (ITS) has been developed, which is considered as the key enabling technology to improve road safety, traffic competence and driving experience. The growth of the global V2X in automotive market is propelled by the ongoing development and commercialization of cellular technologies and related infrastructure. These include systems such as 5G, LTE, and radio access technology (RAT), which reinforce smart transportation applications such as collision warning & avoidance, lane keeping assistance, and obstacle detection.
Global V2X in automotive market is segmented based on communication type, connectivity type, offering type, technology type, propulsion type, company and region. Majority of Vehicle-to-Everything (V2X) demands come from Asia Pacific region, hence organizing them as leaders of the mainstream market in 2020. Vehicle-to-Everything (V2X) technology demand is briskly growing in North America, but the dominance of Asia-Pacific in the Global V2X in Automotive Market is anticipated to continue in the forecast period.
The lockdown imposed to contain the spread of virus has disrupted the supply chain for the automotive industry, negatively influencing the V2X market. As different vehicle parts are manufactured and assembled in different regions, the lockdown and international trade restrictions due to closed borders, increased the shortage of required vehicle parts and limited the supply. Moreover, companies adopted just-in-time production strategy due to tight budget which further makes the supply chain vulnerable to disruptions. Global auto production is strongly dependent on China and therefore lockdown in China has resulted in supply shortages for assembly of all OEMs in North America, Europe, and Asia. Nevertheless, the market is showing positive signs of recovery, because of which the Global V2X in Automotive Market is expected to recover from the Covid-19 impact in around 3 years.
Some of the major players operating in Global V2X in Automotive Market are Robert Bosch GmbH, Continental AG, NXP Semiconductors N.V., Infineon Technologies AG, DENSO Corporation. Apart from these companies, other companies like Qualcomm Technologies, Inc., HARMAN International, etc. are also increasing their marketing activities and enriching their product portfolios to increase their customer outreach.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Objective of the Study:
- To analyse the historical growth in market size of Global V2X in Automotive Market from 2016 to 2020.
- To estimate and forecast the market size of Global V2X in Automotive Market in terms of value as well as volume from 2021 to 2026 and growth rate until 2026.
- To assess the demand-supply scenario of Global V2X in Automotive Market which covers their production, demand, supply, and net inventory status globally.
- To classify and forecast Global V2X in Automotive Market based on communication type, connectivity type, offering type, technology type, propulsion type, company, and regional distribution.
- To identify drivers and challenges for Global V2X in Automotive Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Global V2X in Automotive Market.
- To conduct the pricing analysis for Global V2X in Automotive Market.
- To identify and analyze the profile of leading players involved in the manufacturing of Global V2X in Automotive Market.
Key Target Audience:
- Technology investors
- Governments and financial institutions
- End users of commercial aircrafts
- Research organizations and consulting companies.
- Research Institutes
- Associations, organizations, forums, and alliances related to V2X technology.
- V2X manufacturing companies
- Industry associations
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as V2X manufacturers, distributors and dealers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, Global V2X in Automotive Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global V2X in Automotive Market, By Communication Type:
- Global V2X in Automotive Market, By Connectivity Type:
o DSRC Connectivity
o Cellular Connectivity
- Global V2X in Automotive Market, By Offering Type:
- Global V2X in Automotive Market, By Technology Type:
o Emergency Vehicle Notification
o Automated Driver Assistance
o Passenger Information System
o Line of Sight
- Global V2X in Automotive Market, By Propulsion Type:
o ICE Vehicles
o Electric Vehicles
- Global V2X in Automotive Market, By Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in Global V2X in Automotive Market.
With the given market data, TechSci Research offers customizations according to the company’s specific needs. The following customization options are available for the report:
Raw Material Analysis
- Detailed list of different raw materials used in production of V2X, list of existing suppliers of raw materials, pricing analysis of raw materials, analysis of difference between imported and domestically procured raw materials.
- Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect sales channel.