Automotive V2X - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Automotive V2X market is accounted for $341.22 million in 2018 and is expected to reach $8060.79 million by 2027 growing at a CAGR of 42.1% during the forecast period. Some of the key factors propelling the market growth include growing demand for fully autonomous driving and safe vehicles, advancements in 5G technology, increased EV sales, government regulations to curb emissions, and need to reduce traffic congestion. However, latency/reliability challenges are restraining the market growth.
Automotive vehicle to everything (V2X) is a technology that helps increase road safety by means of advanced technological improvements in automotive electronics. V2X is based on the concept of intelligent transport system (ITS) and helps in efficient traffic management. This technology enables a vehicle to communicate with the neighbouring vehicles, any obstacles such as pedestrian, infrastructure, and even with a vehicle out of sight or any other elements in a traffic-congested area.
By propulsion, internal combustion engine (ICE) segment is projected to grow at the significant rate during the forecast period, due to the fact that V2X directly helps in improving fuel economy, which further helps reduce pollution. The pollution caused by transportation is a major issue faced across the globe. The optimization of traffic by application of the V2X would enable the reduction of fuel consumption. The number of ICE vehicles equipped with V2X is high, and more vehicles are expected to be launched during the forecast period. This would also drive the ICE V2X market.
On the basis of geography, the North American region is expected to have considerable market growth during the forecast period, due to the high sales of vehicles equipped with V2X, such as Cadillac CTS and Mercedes-Benz E-Class in the region, and technological advance countries such as U.S. and Canada which enables ease of technological adoption. The road safety organizations in the region have engaged in various activities to accelerate the innovation on automotive V2X landscape to improve transportation and road safety.
Some of the key players in automotive V2X market include Delphi Technologies, NXP Semiconductors, Qualcomm Technologies, Inc., Continental AG, Nokia, Robert Bosch GmbH, Autotalks LTD., BMW AG, Infineon Technologies AG, Denso Corporation, Mitsubishi Corporation, Stmicroelectronics, Harman International, Hyundai Motor Company, Cohda Wireless, Savari, Inc., Daimler AG, Audi AG, Huawei Technologies Co., LTD., and Tata Motors.
• Vehicle-to-Infrastructure (V2I)
• Vehicle-to-Pedestrian (V2P)
• Vehicle-to-Cloud (V2C)
• Vehicle-to Device (V2D)
• Vehicle-to-Vehicle (V2V)
• Vehicle-to-Grid (V2G)
• Vehicle-to-Motorist (V2M)
• Vehicle-to-Network (V2N)
• Vehicle-to-Home (V2H)
• Dedicated Short-Range Communications (DSRC)
• Cellular-V2X (C-V2X)
• Other Connectivities
• Electric Vehicle (EV)
• Internal Combustion Engine (ICE)
Vehicle Types Covered:
• Commercial Vehicles
• Passenger Cars
Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Line of Sight
• Automated Driver Assistance
• Fleet & Asset Management
• Parking Management System
• Intelligent Traffic System (ITS)
• Emergency Vehicle Notification
• Passenger Information System
• Non-Line of Sight
• Predictive Maintenance
• Remote Monitoring and Diagnostics
• Analytical Continuation
• Commuter Data System
• Auto Car Service
• Road Safety Service
Unit Types Covered:
• Roadside Unit (RSU)
• On-Board Unit (OBU)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.