Automotive V2X Market – Future Trends & Scenario (2020–2028)

Automotive V2X Market Automotive V2X Market

The Automotive V2X Market is estimated to be USD 689 million in 2020 and projected to reach USD 12,859 million by 2028, at a CAGR of 44.2%. The advancements in 5G technology and an increase in fuel consumption and time wastage caused by traffic congestion have pushed the V2X technology forward.

The major players in the automotive V2X market include Robert Bosch GMBH (Germany), Continental AG (Germany), Qualcomm Technologies, Inc. (US), Autotalks Ltd. (Israel), and Delphi Technologies (UK).

Growth Drivers:

  • Increasing Demand for Fully Autonomous Driving and Safe Vehicles
  • Increasing Concerns Over Environmental Pollution Caused By Vehicles

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The cellular segment is projected to be the fastest-growing automotive V2X market, by connectivity

The advancements in 5G technology would enable the applications of 5G-V2X which is expected to offer better performance in terms of cybersecurity and handling a large number of messages in congested traffic environments. Another factor that would drive the cellular segment is the cost associated with hardware components. The DSRC segment, to perform V2P communication, requires additional hardware components, which makes it expensive compared to C-V2X. In January 2019, Audi, Ducati, and Ford demonstrated C-V2X technologies. Such developments would accelerate the commercial deployment of C-V2X technology.

The V2V segment is expected to have the largest market share of the automotive V2X market, by communication

The V2V communication segment is expected to have the largest share of the automotive V2X market. V2V improves vehicle safety through features such as forward collision warning (FCW) and lane changing warning (LCW). The growing safety concerns among the public and government dues to increasing traffic accidents is an important driving factor for the growth of the automotive V2V market. The vehicle models equipped with V2V technology are Cadillac CTS and Mercedes-Benz E-Class, among others.

Europe is expected to account for the largest market size during the forecast period

Europe is expected to have the largest automotive V2X market during the forecast period. The improved infrastructure facility in Europe allows easy deployment of V2X. The presence of top players in the Robert Bosch GmbH, Continental AG, and Delphi Technologies, along with large scale adoption of V2X-equipped vehicles, is expected to have a significant effect on the European automotive V2X market. Moreover, in European countries such as France and Germany, the likes of 5GAA, BMW Group, Ford, and Groupe PSA have teamed up with Qualcomm and Savari to showcase C-V2X communications.

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This research report categorizes the automotive V2X market on the basis of offering segment, communication, propulsion, connectivity, technology, vehicle type, unit, and region.

Automotive V2X market, by offering

  • Hardware
  • Software

Automotive V2X market, by communication

  • Vehicle-to-Vehicle (V2V)
  • Vehicle-to-Infrastructure (V2I)
  • Vehicle-to-Pedestrian (V2P)
  • Vehicle-to-Grid (V2G)
  • Vehicle-to-Cloud (V2C)
  • Vehicle-to Device (V2D)

Automotive V2X market, by propulsion

  • ICE
  • EV

Automotive V2X market, by connectivity

  • Cellular
  • DSRC

Automotive V2X market, by technology

  • Automated driver assistance
  • Intelligent traffic systems
  • Emergency vehicle notification
  • Passenger information system
  • Fleet & asset management
  • Parking management system
  • Line of sight
  • Non-line of sight
  • Backing
  • Others

Automotive V2X market, by vehicle type

  • Passenger car
  • Commercial vehicle

Automotive V2X market, by unit type

  • On-Board Unit
  • Roadside Unit

Automotive V2X market, By Region

  • Asia Pacific
  • Europe
  • North America
  • RoW

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