Vehicle To Everything V2x Market
Vehicle-to-Everything (V2X) Market Forecasts to 2030 - Global Analysis by Communication Type (Vehicle-to-Vehicle (V2V), Vehicle-to-Pedestrian (V2P), Vehicle-to-Cloud (V2C) and Other Communication Types), Vehicle Type (Passenger Cars, Commercial Vehicles and Emergency Vehicles), Component, Connectivity, Propulsion, Application, End User and By Geography
According to Stratistics MRC, the Global Vehicle-to-Everything (V2X) Market is accounted for $2.6 billion in 2024 and is expected to reach $21.3 billion by 2030 growing at a CAGR of 41.2% during the forecast period. Vehicle-to-Everything (V2X) refers to a communication system that enables vehicles to interact with their surroundings, including other vehicles (V2V), infrastructure (V2I), pedestrians (V2P), and networks (V2N). This technology enhances road safety, traffic efficiency, and driving convenience by enabling real-time data exchange, which supports applications such as collision avoidance, traffic management, and autonomous driving.
Market Dynamics:
Driver:
Enhanced road safety
V2X technology significantly improves road safety by enabling real-time communication between vehicles, infrastructure, and other road users. This communication allows for early warning systems, collision avoidance, and improved traffic management. By providing drivers with crucial information about their surroundings, potential hazards, and road conditions, V2X helps reduce accidents and save lives. The technology's ability to enhance safety is a major driving force for its adoption, as governments and automakers prioritize reducing road fatalities and injuries.
Restraint:
High implementation costs
The implementation of V2X technology involves substantial costs, including infrastructure development, vehicle equipment, and system integration. These high costs can be a significant barrier to widespread adoption, particularly in developing countries or regions with limited resources. Additionally, the need for extensive roadside infrastructure and the potential requirement for retrofitting existing vehicles add to the overall expense. The cost factor may slow down the market growth.
Opportunity:
Autonomous vehicles
V2X technology is crucial for enabling safe and efficient autonomous driving by providing vehicles with comprehensive situational awareness. As the automotive industry moves towards higher levels of autonomy, the demand for advanced V2X systems is expected to surge. This synergy between V2X and autonomous vehicles could accelerate market growth, drive innovation, and potentially lead to new applications and use cases for V2X technology beyond traditional transportation.
Threat:
Regulatory hurdles
The V2X market faces potential threats from regulatory challenges and uncertainties. Different regions and countries may adopt varying standards and regulations for V2X technology, leading to fragmentation in the global market. Issues such as spectrum allocation, data privacy concerns, and cybersecurity requirements can complicate the deployment of V2X systems. Regulatory delays or inconsistencies could slow down market growth and create barriers to entry for some players.
Covid-19 Impact:
The COVID-19 pandemic initially slowed V2X market growth due to disruptions in automotive production and reduced investments. However, it also highlighted the importance of connected technologies for resilient transportation systems. The pandemic accelerated interest in contactless and automated solutions, potentially driving long-term adoption of V2X technologies for safer and more efficient mobility.
The passenger cars segment is expected to be the largest during the forecast period
The passenger cars segment is estimated to dominate the V2X market due to its high volume and consumer-facing nature. Automakers are increasingly integrating V2X technologies into new car models to enhance safety features, improve traffic efficiency, and provide value-added services to consumers. The large existing fleet of passenger cars also presents opportunities for aftermarket V2X solutions. As consumer awareness of connected car benefits grows and regulations promoting V2X adoption come into effect, the passenger car segment is expected to drive significant market growth and innovation in V2X applications.
The electric vehicles (EVs) segment is expected to have the highest CAGR during the forecast period
The electric vehicles (EVs) segment is estimated to register the highest growth rate during the forecast period. EVs are often at the forefront of automotive technology adoption, making them ideal platforms for integrating advanced V2X systems. V2X can significantly benefit EVs by optimizing charging infrastructure usage, improving range estimation, and enhancing overall energy efficiency. As governments worldwide push for electrification to reduce emissions, the synergy between EVs and V2X technologies is expected to drive rapid adoption and innovation, leading to a higher growth rate.
Region with largest share:
Asia Pacific's dominance is expected to dominate the Vehicle-to-Everything (V2X) market. The region has a large and rapidly growing automotive market, particularly in countries like China, Japan, and South Korea. These countries are also at the forefront of technological innovation and have made significant investments in smart transportation infrastructure. Government initiatives promoting connected and autonomous vehicles, coupled with the presence of major automotive and technology companies, contribute to the region's market leadership.
Region with highest CAGR:
Asia Pacific is expected to maintain the highest growth rate in the V2X market due to several dynamic factors. Rapid urbanization and increasing vehicle ownership in emerging economies are creating urgent needs for smart transportation solutions. Governments in the region are actively supporting V2X technology through favorable policies and infrastructure investments. The region's strong 5G rollout is providing the necessary communication backbone for advanced V2X applications. Additionally, the fast-growing EV market in countries like China is driving innovation in connected vehicle technologies, further accelerating V2X adoption and market growth.
Key players in the market
Some of the key players in Vehicle-to-Everything (V2X) market include Qualcomm Technologies, Inc., Autotalks Ltd., Harman International, Huawei Technologies Co., Ltd., Continental AG, NXP Semiconductors, Infineon Technologies AG, Robert Bosch GmbH, STMicroelectronics, Aptiv PLC, Denso Corporation, Cisco Systems, Inc., Cohda Wireless Pty Ltd., Kapsch TrafficCom AG, AUTOCRYPT Co., Ltd., Renesas Electronics Corporation, Texas Instruments, and Harman International Industries, Inc.
Key Developments:
In January 2024, the global semiconductor manufacturer and leader in power systems and IoT Infineon Technologies AG announced its partnership with OMRON Social Solutions Co. Ltd., a pioneering company in social systems technology. Combining Infineon’s first-class gallium nitride (GaN) based power solutions with the innovative circuit topology and control technology of OMRON now enables one of Japan’s smallest and lightest vehicle-to-everything (V2X) charging systems by OMRON Social Solutions. This partnership will further drive innovation towards wide bandgap materials in power supplies, help to accelerate the transition to renewable energies, a smarter grid, and the adoption of electric vehicles, while fostering decarbonization and digitalization.
In October 2023, HARMAN, an automotive technology company and subsidiary of Samsung Electronics Co., Ltd., announced it has been selected as “Vehicle-to-Everything (V2X) Company of the Year” in the fourth annual AutoTech Breakthrough Awards conducted by AutoTech Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global automotive and transportation technology markets today.
In May 2023, Qualcomm announced that its subsidiary, Qualcomm Technologies, Inc., has entered into a definitive agreement to acquire Autotalks. The transaction is subject to customary closing conditions.
Communication Types Covered:
• Vehicle-to-Vehicle (V2V)
• Vehicle-to-Pedestrian (V2P)
• Vehicle-to-Cloud (V2C)
• Vehicle-to-Infrastructure (V2I)
• Vehicle-to-Grid (V2G)
• Vehicle-to-Network (V2N)
• Vehicle-to-Device (V2D)
Vehicle Types Covered:
• Passenger Cars
• Commercial Vehicles
• Emergency Vehicles
Components Covered:
• Hardware
• Software
• Services
Connectivity’s Covered:
• Dedicated Short Range Communication (DSRC)
• Cellular-V2X
• Hybrid
Propulsions Covered:
• Electric Vehicle (EV)
• Internal Combustion Engine (ICE)
Applications Covered:
• Automated Driver Assistance Systems (ADAS)
• Emergency Vehicle Notification
• Traffic Management
• Parking Assistance
• Fleet Management
• Other Applications
End Users Covered:
• Automotive Manufacturers
• Tier-1 Suppliers
• Telecommunication Companies
• Government Agencies
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- 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
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• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Vehicle-to-Everything (V2X) Market, By Communication Type
5.1 Introduction
5.2 Vehicle-to-Vehicle (V2V)
5.3 Vehicle-to-Pedestrian (V2P)
5.4 Vehicle-to-Cloud (V2C)
5.5 Vehicle-to-Infrastructure (V2I)
5.6 Vehicle-to-Grid (V2G)
5.7 Vehicle-to-Network (V2N)
5.8 Vehicle-to-Device (V2D)
6 Global Vehicle-to-Everything (V2X) Market, By Vehicle Type
6.1 Introduction
6.2 Passenger Cars
6.3 Commercial Vehicles
6.4 Emergency Vehicles
7 Global Vehicle-to-Everything (V2X) Market, By Component
7.1 Introduction
7.2 Hardware
7.2.1 On-Board Units (OBUs)
7.2.2 Roadside Units (RSUs)
7.2.3 Sensors
7.2.4 Antennas
7.2.5 Other Hardware Components
7.3 Software
7.3.1 Communication Protocols
7.3.2 Application Software
7.3.3 Security Software
7.3.4 Other Software Components
7.4 Services
7.4.1 System Integration
7.4.2 Maintenance and Support
7.4.3 Consulting
8 Global Vehicle-to-Everything (V2X) Market, By Connectivity
8.1 Introduction
8.2 Dedicated Short Range Communication (DSRC)
8.3 Cellular-V2X
8.4 Hybrid
9 Global Vehicle-to-Everything (V2X) Market, By Propulsion
9.1 Introduction
9.2 Electric Vehicle (EV)
9.3 Internal Combustion Engine (ICE)
10 Global Vehicle-to-Everything (V2X) Market, By Application
10.1 Introduction
10.2 Automated Driver Assistance Systems (ADAS)
10.3 Emergency Vehicle Notification
10.4 Traffic Management
10.5 Parking Assistance
10.6 Fleet Management
10.7 Other Applications
11 Global Vehicle-to-Everything (V2X) Market, By End User
11.1 Introduction
11.2 Automotive Manufacturers
11.3 Tier-1 Suppliers
11.4 Telecommunication Companies
11.5 Government Agencies
11.6 Other End Users
12 Global Vehicle-to-Everything (V2X) Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Qualcomm Technologies, Inc.
14.2 Autotalks Ltd.
14.3 Harman International
14.4 Huawei Technologies Co., Ltd.
14.5 Continental AG
14.6 NXP Semiconductors
14.7 Infineon Technologies AG
14.8 Robert Bosch GmbH
14.9 STMicroelectronics
14.10 Aptiv PLC
14.11 Denso Corporation
14.12 Cisco Systems, Inc.
14.13 Cohda Wireless Pty Ltd.
14.14 Kapsch TrafficCom AG
14.15 AUTOCRYPT Co., Ltd.
14.16 Renesas Electronics Corporation
14.17 Texas Instruments
14.18 Harman International Industries, Inc.
List of Tables
1 Global Vehicle-to-Everything (V2X) Market Outlook, By Region (2022-2030) ($MN)
2 Global Vehicle-to-Everything (V2X) Market Outlook, By Communication Type (2022-2030) ($MN)
3 Global Vehicle-to-Everything (V2X) Market Outlook, By Vehicle-to-Vehicle (V2V) (2022-2030) ($MN)
4 Global Vehicle-to-Everything (V2X) Market Outlook, By Vehicle-to-Pedestrian (V2P) (2022-2030) ($MN)
5 Global Vehicle-to-Everything (V2X) Market Outlook, By Vehicle-to-Cloud (V2C) (2022-2030) ($MN)
6 Global Vehicle-to-Everything (V2X) Market Outlook, By Vehicle-to-Infrastructure (V2I) (2022-2030) ($MN)
7 Global Vehicle-to-Everything (V2X) Market Outlook, By Vehicle-to-Grid (V2G) (2022-2030) ($MN)
8 Global Vehicle-to-Everything (V2X) Market Outlook, By Vehicle-to-Network (V2N) (2022-2030) ($MN)
9 Global Vehicle-to-Everything (V2X) Market Outlook, By Vehicle-to-Device (V2D) (2022-2030) ($MN)
10 Global Vehicle-to-Everything (V2X) Market Outlook, By Vehicle Type (2022-2030) ($MN)
11 Global Vehicle-to-Everything (V2X) Market Outlook, By Passenger Cars (2022-2030) ($MN)
12 Global Vehicle-to-Everything (V2X) Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
13 Global Vehicle-to-Everything (V2X) Market Outlook, By Emergency Vehicles (2022-2030) ($MN)
14 Global Vehicle-to-Everything (V2X) Market Outlook, By Component (2022-2030) ($MN)
15 Global Vehicle-to-Everything (V2X) Market Outlook, By Hardware (2022-2030) ($MN)
16 Global Vehicle-to-Everything (V2X) Market Outlook, By On-Board Units (OBUs) (2022-2030) ($MN)
17 Global Vehicle-to-Everything (V2X) Market Outlook, By Roadside Units (RSUs) (2022-2030) ($MN)
18 Global Vehicle-to-Everything (V2X) Market Outlook, By Sensors (2022-2030) ($MN)
19 Global Vehicle-to-Everything (V2X) Market Outlook, By Antennas (2022-2030) ($MN)
20 Global Vehicle-to-Everything (V2X) Market Outlook, By Other Hardware Components (2022-2030) ($MN)
21 Global Vehicle-to-Everything (V2X) Market Outlook, By Software (2022-2030) ($MN)
22 Global Vehicle-to-Everything (V2X) Market Outlook, By Communication Protocols (2022-2030) ($MN)
23 Global Vehicle-to-Everything (V2X) Market Outlook, By Application Software (2022-2030) ($MN)
24 Global Vehicle-to-Everything (V2X) Market Outlook, By Security Software (2022-2030) ($MN)
25 Global Vehicle-to-Everything (V2X) Market Outlook, By Other Software Components (2022-2030) ($MN)
26 Global Vehicle-to-Everything (V2X) Market Outlook, By Services (2022-2030) ($MN)
27 Global Vehicle-to-Everything (V2X) Market Outlook, By System Integration (2022-2030) ($MN)
28 Global Vehicle-to-Everything (V2X) Market Outlook, By Maintenance and Support (2022-2030) ($MN)
29 Global Vehicle-to-Everything (V2X) Market Outlook, By Consulting (2022-2030) ($MN)
30 Global Vehicle-to-Everything (V2X) Market Outlook, By Connectivity (2022-2030) ($MN)
31 Global Vehicle-to-Everything (V2X) Market Outlook, By Dedicated Short Range Communication (DSRC) (2022-2030) ($MN)
32 Global Vehicle-to-Everything (V2X) Market Outlook, By Cellular-V2X (2022-2030) ($MN)
33 Global Vehicle-to-Everything (V2X) Market Outlook, By Hybrid (2022-2030) ($MN)
34 Global Vehicle-to-Everything (V2X) Market Outlook, By Propulsion (2022-2030) ($MN)
35 Global Vehicle-to-Everything (V2X) Market Outlook, By Electric Vehicle (EV) (2022-2030) ($MN)
36 Global Vehicle-to-Everything (V2X) Market Outlook, By Internal Combustion Engine (ICE) (2022-2030) ($MN)
37 Global Vehicle-to-Everything (V2X) Market Outlook, By Application (2022-2030) ($MN)
38 Global Vehicle-to-Everything (V2X) Market Outlook, By Automated Driver Assistance Systems (ADAS) (2022-2030) ($MN)
39 Global Vehicle-to-Everything (V2X) Market Outlook, By Emergency Vehicle Notification (2022-2030) ($MN)
40 Global Vehicle-to-Everything (V2X) Market Outlook, By Traffic Management (2022-2030) ($MN)
41 Global Vehicle-to-Everything (V2X) Market Outlook, By Parking Assistance (2022-2030) ($MN)
42 Global Vehicle-to-Everything (V2X) Market Outlook, By Fleet Management (2022-2030) ($MN)
43 Global Vehicle-to-Everything (V2X) Market Outlook, By Other Applications (2022-2030) ($MN)
44 Global Vehicle-to-Everything (V2X) Market Outlook, By End User (2022-2030) ($MN)
45 Global Vehicle-to-Everything (V2X) Market Outlook, By Automotive Manufacturers (2022-2030) ($MN)
46 Global Vehicle-to-Everything (V2X) Market Outlook, By Tier-1 Suppliers (2022-2030) ($MN)
47 Global Vehicle-to-Everything (V2X) Market Outlook, By Telecommunication Companies (2022-2030) ($MN)
48 Global Vehicle-to-Everything (V2X) Market Outlook, By Government Agencies (2022-2030) ($MN)
49 Global Vehicle-to-Everything (V2X) Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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