Automotive Vehicle-To-Everything (V2X) Market Forecast Analysis by Manufacturer, Types, Applications and Regions 2020 – 2025

Posted on 2021-01-08 by researchinsights in Automotive // 0 Comments

Felton, California , USA, Jan 08, 2021 — /EPR Network/ — Global Automotive Vehicle-To-Everything (V2X) Market size was USD 2.83 billion and it is expected to grow considering the feature like automobile safety and superior traffic management. The industry is moving towards sustainable growth. Vehicular communication system incorporates more specific type of communication such as V2I, V2V, V2P, V2D, and V2G. The convenience aspect of vehicles has increased due to safety features and communication technology. The consumer demands for safety has increased and it act as driver for this industry’s market growth.

Technological advancement has lead to driverless and automatic cars which is still under research stage and its commercialization is expected soon. Driverless transportability can be achieved with the help of V2X communication technologies. V2X is all about communicating with automobiles which will have potential threat like hacking and manipulation. Security feature thus become a important factor for growth of this market. This technology is based on WLAN and it works between vehicles within each other’s range. Key aspect for implementing these technologies will be a definite framework for its integration.

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Rise in disposable income of people of various economies can be one driver for growth of automotive industry. India and china has seen a significant increase in sale of automobile in recent years. Traffic congestion have arise due to increase in n umber of passenger vehicle that also have lead to issues such as fuel consumption, emission and air pollution. These restraints for diesel engine can act as drivers for automotive V2X market

Safety features like Adaptive cruise control, lane change assist and blind spot are covered in automotive V2X communication. Real time traffic and incident alert are other parameters for increasing public safety

This feature will become mandatory in future looking at strictness in safety regulations. V2X is expected to dominate market in upcoming period. By combining V2I and V2N communication we can solve traffic problem and emission issues. Facilities such as e-parking and automated toll payment will also observe a convincing growth

At present Dedicated short range connectivity (DSRC) is used in cars. The cost benefit of DSRC over cellular connectivity will drive this market. Ease of implementation on other hand will create opportunities for automotive market. Benefits can be decrease in number of accidents by providing real-time information to drivers with the help of sensor and connectivity

Cellular connectivity can be used for covering large area but it has some limitations. It will require more time for deployment for covering considerable range. The hardware required in V2X technology is expensive. The V2X technology considering above points still have strong growth potential in near future. Synchronized real time data will be important factor of this segment.

At present the companies that have made great technological advancement dominate the market. Strong global presence and diversified product portfolio are two factor to hold their market share in automotive V2X industry. Delphi Automotive PLC (U.k), Continental AG of Germany, Qualcomm Inc of U.S, Cisco Systems are some major players in market among others. Different vendors offer different products and services. Mergers and acquisition will help them to cover large market share. In 2016, SAIC motors have signed an agreement with Savari Inc to manufacture and distribute V2X solution in China and ASEAN countries.

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It is estimated that North America will have largest market share in automotive V2X market. Canada and U.S. in this region will adopt technology with ease due to its infrastructure and technological advancement. This region has approx. 26% of population of world running on road. High rate of greenhouse emission and traffic congestion are serious issues in this region. The implementation of V2X system will act as solution to these problems acting as important driver for growth of this market.

The automotive industry in Europe is governed by rigorous safety and emission norms. Features such as cruise control, blind spot detection and lane assist uses V2V communication and will enable growth of automotive V2X market in future.

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