The global automotive V2X market size reached US$ 2.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.2 Billion by 2027, exhibiting a growth rate (CAGR) of 45.89% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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 2022-2027. Our report has categorized the market based on communication, connectivity and vehicle type.
Breakup by Communication:
Breakup by Connectivity:
Dedicated Short-Range Communication (DSRC)
Cellular-V2X (C-V2X) Communication
Breakup by Vehicle Type:
Breakup by Region:
Middle East and Africa
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.
Key questions answered in this report:
How has the global automotive V2X market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automotive V2X market?
What are the key regional markets?
What is the breakup of the market based on the communication?
What is the breakup of the market based on the connectivity?
What is the breakup of the market based on the vehicle type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automotive V2X market and who are the key players?
What is the degree of competition in the industry?