Automotive V2X Market Size, Share Growth Analysis 2029

Automotive V2X Market was valued USD 2.4 billion in 2021, and is projected to touch USD 32.1 billion in 2029, growing at a higher CAGR 38.3% during 2022–2029

The factors driving the growth of Automotive V2X Market includes increase in the number of road accidents around the world, growing popularity of autonomous vehicles, commercialization of 5G technology, rise in the production of electric vehicles and improvements in the living standards. In addition, Government policies promoting the use of V2X technology, rising concerns related to environmental pollution, growing adoption of advanced technologies such as Artificial Intelligence (AI) and Cellular V2X and rapid urbanization, are some of the additional factors supplementing the Automotive V2X Market size. Moreover, the increasing investments by major players on research and development, rise in the launch of innovative products, and growing disposable incomes, are further contributing towards the market growth.

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However, growth of the Automotive V2X Market is hindered due to growing concerns related to cyber-attacks.

The leading players operating in the market are NXP Semiconductors, Delphi Technologies, Denso Corporation, Continental AG, Qualcomm Technologies, Inc., Autotalks Ltd., Infineon Technologies AG, HARMAN International, Robert Bosch GmbH, and STMicroelectronics, among others.

Based on Communication, the Vehicle-To-Vehicle (V2V) segment is predicted to grow at a robust CAGR during the forecast period

The Vehicle-To-Vehicle communication systems enhances road safety, reduces traffic congestion, and streamlines flow vehicles on the road, are some of the features pushing Automotive V2X Market share.

Based on Connectivity, the C-V2X (Cellular-V2X) segment is projected to expand at a faster CAGR over the forecast period

C-V2X supports both short-range and long-range transmission among vehicles, enables real time communication at high speeds and secures LTE networks, are some of the factors propelling growth of the segment.

Based on Region, the European region is anticipated to grow at a remarkable CAGR during the forecast period

Government policies supporting the manufacturing of electric vehicles, rising concerns related to safety of vehicles, growing adoption of advanced technologies by major companies, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in European region.

Key Developments

• In 2019, Continental AG launched a 5G hybrid platform that integrates V2X technology. This solution allows both network & mobile communication along with the reliable direct exchange of the data and reduces the cost and complexity for a global application of V2X communication.
• In 2019, Autotalks Ltd. collaborated with CEVA, Inc. to integrate C-V2X Rel. 14/15 support to the CEVA-XC DSP based chipset of Autotalks and developed the solution which can support both C-V2X direct communication and DSRC.

Market Segmentation

Segmentation by Offering

• Hardware
• Software

Segmentation by Communication

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

Segmentation by Propulsion

• EV
• ICE

Segmentation by Connectivity

• C-V2X (Cellular-V2X)
• DSRC (Dedicated Short-Range Communications)

Segmentation by Technology

• V2I
• Emergency Vehicle Notification
• Intelligent Traffic System (ITS)
• Fleet & Asset Management
• Passenger Information System
• Parking Management System
• V2V
• Automated Driver Assistance
• V2P
• Non-Line of Sight
• Line of Sight
• Backing

Segmentation by Vehicle Type

• Commercial Vehicle
• Passenger Car

Segmentation by Unit

• Roadside Unit (RSU)
• On-Board Unit (OBU)

Segmentation by Region

• Asia Pacific
• China
• Japan
• India
• Rest of APAC
• North America
• United States of America
• Canada
• Europe
• United Kingdom
• Germany
• France
• Spain
• Rest of Europe
• RoW
• Brazil
• South Africa
• Saudi Arabia
• UAE

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