Vehicle-to-Everything (V2X) Market (2020-2028) | MarketsandMarkets

Vehicle-to-Everything (V2X) Market is projected to grow at a CAGR of 44.2% from an estimated $689 million in 2020 and is projected to reach $12,859 million by 2028.

The market growth is primarily driven by factors such as increasing traffic congestion and traffic safety concerns. Reduction and optimization of traffic congestion are among the primary feature of V2X technology, which leads to lower fuel consumption and saves productive time for commuters. V2X also offers prioritization of messages that are being transmitted, which is really helpful for emergency vehicles such as ambulances or fire fighting trucks.

Top Players

• Qualcomm Technologies (US)
• Continental AG (Germany)
• Robert Bosch (Germany)
• Delphi Technologies (UK)
• NXP Semiconductors (Netherlands)
• Infineon Technologies (Germany)
• Denso Corporation (Japan)
• Harman International (US)
• STMicroelectronics (Switzerland)

Top Start-ups

• Autotalks (Israel)
• Cohda Wireless (Australia)
• Savari (US)

Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=90013236

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.

The increase in sales of vehicles equipped with V2X is the key factor driving the OBU segment, as every vehicle will be equipped with OBUs for V2X communication. Some of the top players in the automotive V2X market offering OBUs are Denso, Cohda Wireless, and Savari, among others. OBUs are the main units used for all communications such as V2V, V2I, and V2P.

The ICE segment of the automotive V2X market, by propulsion, is expected to have the largest share. The increase in pollution levels caused by the transportation sector has been the key factor driving the ICE segment. V2X offers features such as optimization of traffic flow and truck platooning. Both these features help in reducing fuel consumption. For instance, truck platooning allows trucks to move in an aerodynamic formation, thereby reducing air resistance, which is expected to save up to 12% in fuel consumption.

The presence of top automotive OEMs such as Volkswagen AG and Daimler AG, which have equipped their vehicles with V2X, has contributed to the growth of the European market. The presence of key V2X players such as Continental AG, Robert Bosch, and Infineon has also driven the European automotive V2X market. The growing number of tests/trials taking place regarding cellular connectivity in Europe, especially in Germany, is fueling the European automotive V2X market further.

The growth of the North American automotive V2X market can be attributed to the high sales of vehicles equipped with V2X, such as Cadillac CTS and Mercedes-Benz E-Class in the region. The presence of top V2X players such as Qualcomm Technologies, Harman International, and Savari would also contribute to the growth of the North American automotive V2X market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=90013236

Automotive V2X Market and Key Technology

• 5G V2X – In the 5G-V2X standard, the features of the 5G network are combined with V2X. This standard was released in the 3GPP Release 15 in April 2019. The 5G-V2X supports precise ranging and positioning to support automated driving, low latency and high throughput connectivity, high throughput to build dynamic and local maps, and high reliability to support high density platooning.
• LTE V2X – LTE-V2X is the standard in which the features of the LTE network are combined with V2X. The LTE-V2X was announced in the 3GPP Rel. 14, which was released in March 2017. The LTE-V2X has 2 operational modes—short range, which is a network less direct communication via PC5 interface, and long-range cellular network communication based on Uu radio interface.
• C-V2X Chipset – Cellular-V2X (C-V2X) was introduced by 3GPP (3rd Generation Partnership Project) in its 3GPP release 14 in June 2017, as LTE-V2X. The C-V2X has two transmission modes, one which offers V2V, V2P, and V2I, called short-range direct transmission mode (<1 km). The second mode of C-V2X is called long-range network communication (>1 km) that operates in the mobile operator spectrum band, utilizing conventional mobile networks.