Overview and Scope
Automotive vehicle to everything (V2X) communications refer to the technologies that allow vehicles to communicate real-time data with numerous elements in their surroundings. This technology allows cars to transmit information like speed, location, and direction electronically and in real-time to improve safety, traffic efficiency, and enable advanced driver assistance systems (ADAS) and autonomous driving.
Sizing and Forecast
The automotive vehicle to everything (V2X) communications market size has grown exponentially in recent years. It will grow from $2.90 billion in 2023 to $3.60 billion in 2024 at a compound annual growth rate (CAGR) of 24.2%. The growth in the historic period can be attributed to increased awareness about traffic safety benefits, increased consumer demand for advanced safety features, growth in the concern about cybersecurity threats, growth in the need for enhanced situational awareness and collision avoidance systems, growth in investments in research and development.
The automotive vehicle to everything (V2X) communications market size is expected to see exponential growth in the next few years. It will grow to $8.6 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to increasing demand for connected vehicles, rising industrialization and urbanization, increasing demand for advanced technology, increasing focus on smart cities, rising adoption of smart automobiles. Major trends in the forecast period include technological advancements, accelerated deployment of 5G networks, integration with connected and autonomous vehicles, expansion of cellular V2X (C-V2X) technology, smart city infrastructure.
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Segmentation & Regional Insights
The automotive vehicle to everything (V2X) communications market covered in this report is segmented –
1) By Type: Vehicle-To-Vehicle, Vehicle-To-Infrastructure, Vehicle-To-Pedestrian
2) By Technology: Automated Driver Assistance, Intelligent Traffic Systems, Emergency Vehicle Notification, Passenger Information System, Fleet And Asset Management, Parking Management System, Line Of Sight, Non-line Of Sight, Backing, Other Technologies
3) By Application: Road Safety Services, Automatic Parking Systems, Emergency Vehicles, Auto Car Services
Europe was the largest region in the automotive vehicle to everything (V2X) communications market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive vehicle to everything (V2X) communications market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing demand for connected vehicles will propel the growth of the automotive vehicle to everything (V2X) communications market going forward. Connected vehicles refer to automobiles equipped with internet connectivity and onboard sensors or gadgets that allow them to communicate with other vehicles, infrastructure, and external systems. The demand for connected vehicles is rising due to several factors, such as 5G connectivity, an increasing focus on safety, and consumer demand for enhanced connectivity features. Automotive vehicle-to-everything (V2X) communications allow connected vehicles to communicate and work with one another and with their surroundings, resulting in safer, more efficient, and environmentally friendly transportation systems. For instance, in August 2021, according to the Australian Computer Society, an Australia-based professional association, there were around a million connected cars in Australia, which is projected to rise to 10 million by 2030. Therefore, the increasing demand for connected vehicles is driving the growth of the automotive vehicle to everything (V2X) communications market.
Key Industry Players
Major companies operating in the automotive vehicle to everything (V2X) communications market are Volkswagen Group, Toyota Motor Corporation, The Mercedes-Benz Group AG, Ford Motor Company, General Motors Company , Bayerische Motoren Werke AG, AT&T Inc., Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Tesla Inc., Nissan Motor Corporation, Panasonic Holdings Corporation, Cisco Systems Inc., Denso Corporation, Qualcomm Technologies Inc., Continental AG, Volvo Car Corporation, Aptiv PLC, NXP Semiconductors N.V. , BorgWarner Inc., Visteon Corporation, Harman International Industries Inc., Mobileye
The automotive vehicle to everything (v2x) communications market report table of contents includes:
1. Executive Summary
2. Automotive Vehicle To Everything (V2X) Communications Market Characteristics
3. Automotive Vehicle To Everything (V2X) Communications Market Trends And Strategies
4. Automotive Vehicle To Everything (V2X) Communications Market – Macro Economic Scenario
5. Global Automotive Vehicle To Everything (V2X) Communications Market Size and Growth
…..
32. Global Automotive Vehicle To Everything (V2X) Communications Market Competitive Benchmarking
33. Global Automotive Vehicle To Everything (V2X) Communications Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Vehicle To Everything (V2X) Communications Market
35. Automotive Vehicle To Everything (V2X) Communications Market Future Outlook and Potential Analysis
36. Appendix
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