Vehicle-to-Everything (V2X) Communications Market is valued at USD 3.7 Billion in 2021 and expected to reach USD 16.34 Billion by 2028 with a CAGR of 25.31% over the forecast period.
The Vehicle-to-Everything (V2X) Communications Market is expected to see significant growth during the forecast period 2022-2028. Some of the major drivers behind the growth will be stringent safety rules & regulations by government bodies, increased demand for connectivity and development of autonomous vehicles.
Today’s automotive industry are dramatically changing, triggered by development in emerging markets, autonomous functionality coupled with advanced connectivity capabilities is enabling new vehicle driving models. Growing rapid adoption of connected car concept is one of the leading factors to the implementation of V2X (Vehicle to Everything) communication platforms in autonomous vehicles manufactured. V2X (Vehicle to Everything) communication allows the vehicle to connect and communicate with road infrastructures, buildings, pedestrians, vehicles, and others to have better understanding and communication of the surrounding and respond accordingly to the extreme cases vehicles and drivers encounter daily. Growing main concern of road safety, high demand for self-driven autonomous vehicles, real-time information demand during mobility are the main key factors driving the V2X communication market during the forecast period. V2X communication also holds a great potential for traffic management and reducing greenhouse gas emissions from vehicles.
Global Vehicle-to-Everything (V2X) Communications market report is segmented on the basis of communication type, and by regional & country level. Based upon communication type, global Vehicle-to-Everything (V2X) Communications market is classified as Vehicle to Vehicle (V2V), Vehicle to Infrastructure (V2I), Vehicle to Pedestrian (V2P) / DSRC Equipped Smartphones, Vehicle to Home (V2H) and In Vehicle (IN-V).
Growing concerns about passenger safety has compelled automobile manufacturers to install the various driver assistance systems and focus on improving the integration of passive safety systems with active safety systems, especially ACC, AEBS, BSD, LDWS, and NVS. ADAS essentially consists of sub-systems and features that work independently or are combined to provide assistance. This assistance is not just restricted to safety; it can also include comfort as well. Growing ADAS market is driving the Vehicle-to-Everything (V2X) Communications Market during the forecast period. Growing Craze and investment of big players are driving the autonomous vehicles demand. Google is leading the race in terms of developing an autonomous vehicle and is expected to commercialize the vehicle by 2021. It is estimated that around 16% of the new vehicles sold in 2030 will be autonomous vehicles. This will fuel the growth of the global automotive V2X market.
North America dominates the market with highest market share due to the high adoption by the Americas is attributed to the high preference toward wireless connectivity for safety-related purposes and the rising baby boomer population. Europe constituted the major share, and countries like Germany, France, Italy, Spain, and the UK are the major contributors to the automotive V2X market in Europe. These countries witness high penetration of luxury cars.
Asia Pacific Vehicle-to-Everything (V2X) Communications market is witnessed with strong growth rate due to the growing demand for premium vehicles equipped with connectivity solutions, especially in India and China, is expected to boost the market.
The regions covered in this Vehicle-to-Everything (V2X) Communications market report are North America, Europe, Asia-Pacific, Latin America and Middle east & Africa. On the basis of country level, a market of Vehicle-to-Everything (V2X) Communications is sub divided in to U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 3.7 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||25.31%|
|Market Size Expected in 2028:||USD 16.34 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||General Motors Co, Toyota Motor Co, Volkswagen AG, BMW AG, Daimler AG, Arada Systems, Autotalks Ltd., Cohda Wireless, Denso Corporation, Delphi Automotive, eTrans Systems, Kapsch TrafficCom, Qualcomm, Savari, Others|
|Segments Covered||By Communication type Analysis, By Convenience Services, By Types of Connectivity|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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