The Business Research Company’s report on the Automotive V2X Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the automotive v2x market further?
The increase in demand for fully autonomous vehicles is expected to propel the growth of the automotive V2X market in the coming years. Autonomous vehicles are defined as self-driving vehicles that move without any human intervention or require very little human intervention. V2X offers an advantage in automatic vehicles since it delivers information about objects that other sensors are unable to detect. Also, it can improve traffic efficiency by giving information about traffic signals. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, there were projected to be 3.5 million autonomous vehicles or self-driving cars on American roads by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Thus, the increasing demand for fully autonomous vehicles drives the growth of the automotive V2X market.
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What are the key factors influencing the forecasted market size of the automotive v2x industry?
The automotive V2X market size has grown exponentially in recent years. It will grow from $1.59 billion in 2024 to $2.28 billion in 2025 at a compound annual growth rate (CAGR) of 43.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in investments in smart cities, increase in occurrences of vehicle theft, increase in occurrences of vehicle theft and rise in demand for autonomous mobility.
The automotive V2X market size is expected to see exponential growth in the next few years. It will grow to $10.76 billion in 2029 at a compound annual growth rate (CAGR) of 47.5%. The growth in the forecast period can be attributed to rapid urbanization, increasing safety features in automobiles, the growing automotive industry, and growing demand for electric vehicles (EVs). Major trends in the forecast period include a focus on advanced vehicle-to-everything (v2x) connectivity solutions to provide reliable products to their customers and strengthen their market, focusing on new c-v2x technology pilot projects, advancements in technology, use of 5g technology in automotive v2x, focus on partnerships and collaborations, increasing adoption of cellular v2x to enhance safety of vehicles, and integration of artificial intelligence (AI) technology.
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Who are the leading competitors in the automotive v2x market?
Major companies operating in the automotive V2X market include Robert Bosch GmbH, NXP Semiconductors N.V., Samsung Electronics Co. Ltd., Lear Corporation, Continental AG, Qualcomm Technologies, Inc., LG Electronics, Aptiv PLC, Autotalks Ltd., Infineon Technologies AG, STMicroelectronics, Renesas Electronics, Aisin Automotive, Jost India, Mando Automotive India Pvt. Ltd, Automotive Axles Ltd, Denso India Pvt Ltd, Volvo Cars, Audi AG, Fibocom, Mercedes, Cohda Wireless, BMW Group, Delphi Technologies, Avtovaz, Avtotor, Kamaz, Sreda Ltd., Fort Telecom, Savari Inc., Harman International, Ford Motor Company, Verizon Communications, AT&T Inc.
Which emerging trends are set to transform the automotive v2x market landscape?
The growing technological advancements such as LTE-V2X technology are a key trend gaining popularity in the automotive V2X market. LTE-V2X technology is an innovative information and communication technology that is used in road transportation systems to allow information to be exchanged between vehicles, humans, networks, and infrastructure. Major companies operating in the automotive V2X sector are focused on developing LTE-V2X technology to strengthen their position. For instance, in September 2022, Cohda Wireless, an Australia-based developer of safe vehicle and connected vehicle design solutions and services, launched the MK6 Road-Side Unit (RSU) to enhance communication technology in connected vehicles. MK6 Road-Side Unit (RSU) is a sophisticated and adaptable vehicle-to-everything connectivity solution to assist the adoption of connected cars on the world’s smartest roads and highways with comprehensive communication capabilities which includes DSRC, C-V2X, LTE/5G, and Wi-Fi/Bluetooth and provides users with the reliability, flexibility, and interoperability they require to embark on deployments anywhere in the world.
How do different geographies compare in terms of market share and growth potential in the automotive v2x market?
North America was the largest region in the automotive V2X market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive v2x market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the automotive v2x market are experiencing the fastest growth?
The automotive V2X market covered in this report is segmented –
1) By Technology: Emergency Vehicle Notification, Automated Driver Assistance, Passenger Information System, Line Of Sight, Others
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Connectivity: Direct Short-Range Communications (DSRC), Cellular
4) 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)
Subsegments:
1) By Passenger Cars: Sedans, Hatchbacks, SUVs (Sport Utility Vehicles), Coupes, Convertibles
2) By Commercial Vehicles: Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Buses And Coaches, Trucks, Vans
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How is the automotive v2x market defined, and what are its core characteristics?
Vehicle to Everything (V2X) is a communication system used in a vehicle that supports the exchange of the from a vehicle to moving components of the traffic system that may have an impact on the vehicle. The technology improves traffic efficiency by notifying drivers to approach traffic, offering other routes to avoid traffic, and spotting unoccupied parking spaces.
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