The automotive vehicle to everything (v2x) communications global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Vehicle To Everything (V2X) Communications Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Automotive Vehicle To Everything (V2X) Communications Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Vehicle To Everything (V2X) Communications Market Overview
Market Drivers –
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.
Market Trends –
The major companies operating in the automotive vehicle to everything (V2X) communications market are focused on developing innovative products and tools, such as hardware security modules, to safeguard V2X communication and drive their revenues in the market. A hardware security module (HSM) is an external physical security unit put in electronic control units (ECUs) within cars to protect communications and functional control systems using message cryptography. For instance, in October 2021, Infineon Technologies AG, a Germany-based technology company, launched the SLS37 V2X, an advanced security module designed to enhance the security and efficiency of V2X communication in connected vehicles. This solution was specifically developed to secure V2X communication in automobiles by protecting the integrity, authenticity, and privacy of messages sent between V2X applications and telematics control units. The module serves automotive OEMs (original equipment manufacturers), Tier-1 suppliers, and software providers involved in the development of connected vehicles by offering a plug-and-play security solution that meets the security requirements of V2X applications.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Automotive Vehicle To Everything (V2X) Communications Market Report Structure
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
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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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