Automotive V2X Market by Communication Type (Vehicle-to-Cloud, Vehicle-to-Device, Vehicle-to-Grid), Connectivity (Cellular-V2X Communication, Dedicated Short-Range Communication), Offering, Vehicle Type - Global Forecast 2024-2030

Automotive V2X Market by Communication Type (Vehicle-to-Cloud, Vehicle-to-Device, Vehicle-to-Grid), Connectivity (Cellular-V2X Communication, Dedicated Short-Range Communication), Offering, Vehicle Type - Global Forecast 2024-2030

The Automotive V2X Market size was estimated at USD 4.90 billion in 2023 and expected to reach USD 6.53 billion in 2024, at a CAGR 33.70% to reach USD 37.48 billion by 2030.

Automotive vehicle-to-everything (V2X) technology enables communication between a vehicle, reducing the possibilities of any entity or other vehicle get affected. This technology utilizes sensors, cameras, and wireless connectivity, allowing cars to associate with and communicate with their drivers and surroundings. V2X technology enables real-time data transmission using wireless communication protocols, such as dedicated short-range communication (DSRC) or cellular vehicle-to-everything (C-V2X). Vehicle-to-everything, or V2X solutions, connect road users and the infrastructure. The rising adoption of connected cars, rapid urbanization, and industrialization drive the market. The increasing demand for cloud-based V2X communication in traffic systems and the need for scalable, flexible, and intelligent traffic management solutions are the major factors of the market expansion. Governments globally are placing a significant focus on road safety features to enhance the safety of road users, which has significantly increased the demand for the automotive vehicle-to-everything (V2X) market. However, the privacy of users of vehicles is at risk due to their locations and other details being collected by the system, and the high cost of developing and deploying V2X infrastructure, including vehicle-to-vehicle and vehicle-to-infrastructure communication, posing financial hurdles for widespread adoption of the market. V2X technology holds significant potential to enhance environmental sustainability in the greener transportation ecosystem, and government support for integrating V2X technology in automated vehicles is creating a lucrative opportunity in the forecasted period.

Regional Insights

Americas has a highly developed infrastructure for the automotive V2X market, owing to the rising adoption of automatic and smart vehicles. The developments in the Internet of Things (IoT), 5G technology, and increased awareness of road safety are contributing to the development of the automotive V2X market in the region. Established market players focus on research and development to implement technological advancements in the European market. The rapidly growing consumer preference for connected vehicles is increasing the market growth in European countries. The European Union has predicted 175 zettabytes of data to be generated by connected devices by 2025 and created regulations for data sharing between the connected vehicles, ensuring users' data safety. Governments across countries in the APAC region have been investing heavily in the V2X technology to ensure safety, security, and efficiency of transportation systems. Japan, South Korea, and China have invested significantly in developing V2X infrastructure, such as roadside units, dedicated short-range communication networks, traffic control centers, etc., to support connected mobility services.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Automotive V2X Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increasing demand for in-vehicle connectivity solutions
    • Government focus on road safety features
    • Rising demand for cloud-based V2X communication in traffic systems
    • Market Restraints
      • High cost of implementation and limitations of automotive V2X system
      • Market Opportunities
        • Potential of 5G & AI technology coupled with the advancements in cellular-V2X (CV2X) technology
        • Potential of V2X technology to enhance environmental sustainability
        • Market Challenges
          • Security and privacy issues associated with V2X communication systems
          • Market Segmentation Analysis
            • Communication Type: Rising usage of vehicle-to-vehicle communication for road safety
            • Connectivity: Increasing adoption of cellular-V2X communication to exchange messages between vehicles
            • Offering: Growing preference for automotive V2X for traffic management systems
            • Vehicle Type: Increasing application of automotive V2X for passenger cars to create safe and connected vehicles
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive V2X Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive V2X Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Hyundai Mobis and Autotalks Collaborate to Implement Cutting-edge V2X Technology for Connected Cars
              
              Hyundai Mobis Co Ltd and Autotalks, Ltd. have introduced the MTCU Gen1, the most advanced connectivity module developed by Hyundai Mobis. This module supports Day-1 V2X services and offers automotive V2X functions that alert drivers of dangerous situations and road hazards across all geographies.
              
              TTTech Auto, ZettaScale Extend Collaboration to Launch in-Vehicle, V2X Service
              
              TTTech Auto AG and ZettaScale Technology have joined forces to develop Zetta Auto, a communication platform tailored for the automotive industry. Zetta Auto utilizes cutting-edge technologies such as data distribution service (DDS), time-sensitive networking (TSN), and Zenoh (pub/sub/query) to ensure secure, high-performance, and predictable communication within a service-oriented architecture.
              
              Qualcomm Acquires Autotalks to Boost Snapdragon’s Automotive Safety Technology, Reportedly for USD 350-400M
              
              Qualcomm and Autotalks recently announced a new product that aims to revolutionize vehicle safety, providing an additional layer of security for cars and trucks equipped with V2X communication systems. With this new product, vehicles can be alerted to potential hazards on the road faster than ever before. This technology is a major step forward in helping to make roads safer, which aims to positively impact the future of V2X communication systems.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive V2X Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Automotive V2X Market, highlighting leading vendors and their innovative profiles. These include Capgemini SE, Cohda Wireless Pty Ltd., Continental AG, Denso Corporation, Fermata Energy LLC, Ford Motor Company, Gateworks Corporation, General Motors, Huawei Technologies Co., Ltd., Hyundai Motor Company, Infineon Technologies AG, Intel Corporation, International Business Machines Corporation, Kapsch TrafficCom AG, Lear Corporation, LG Electronics Inc., Microsec Ltd., Nokia Corporation, NTT Docomo, Inc., NXP Semiconductors N.V., Panasonic Holdings Corporation, Qualcomm Incorporated, Quectel Wireless Solutions Co., Ltd., Robert Bosch GmbH, Rohde & Schwarz GmbH & Co. KG, Samsung Electronics Co., Ltd., Siemens AG, STMicroelectronics N.V., TDK Corporation, Telefonaktiebolaget LM Ericsson, Texas Instruments Incorporated, Thales Group, Toyota Motor Corporation, u-blox AG, Valeo S.A., Vector Informatik GmbH, Visteon Corporation, and Volkswagen AG.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Automotive V2X Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Communication Type
              • Vehicle-to-Cloud
              • Vehicle-to-Device
              • Vehicle-to-Grid
              • Vehicle-to-Infrastructure
              • Vehicle-to-Pedestrian
              • Vehicle-to-Vehicle
              • Connectivity
                • Cellular-V2X Communication
                • Dedicated Short-Range Communication
                • Offering
                  • Infrastructure-Based
                    • Communication Infrastructure
                    • Roadside Units
                    • Traffic Management Systems
                    • Vehicle-Based
                      • Connected Vehicle Applications
                      • In-Vehicle Displays
                      • On-Board Units
                      • Vehicle Type
                        • Commercial Vehicles
                        • Passenger Cars
                        • Region
                          • Americas
                            • Argentina
                            • Brazil
                            • Canada
                            • Mexico
                            • United States
                              • California
                              • Florida
                              • Illinois
                              • New York
                              • Ohio
                              • Pennsylvania
                              • Texas
                              • Asia-Pacific
                                • Australia
                                • China
                                • India
                                • Indonesia
                                • Japan
                                • Malaysia
                                • Philippines
                                • Singapore
                                • South Korea
                                • Taiwan
                                • Thailand
                                • Vietnam
                                • Europe, Middle East & Africa
                                  • Denmark
                                  • Egypt
                                  • Finland
                                  • France
                                  • Germany
                                  • Israel
                                  • Italy
                                  • Netherlands
                                  • Nigeria
                                  • Norway
                                  • Poland
                                  • Qatar
                                  • Russia
                                  • Saudi Arabia
                                  • South Africa
                                  • Spain
                                  • Sweden
                                  • Switzerland
                                  • Turkey
                                  • United Arab Emirates
                                  • United Kingdom
                                  
                                  
                                  Please Note: PDF & Excel + Online Access - 1 Year