Automotive V2X Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Automotive V2X Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Automotive V2X Market

The automotive V2X market size was valued at USD 628.9 billion in 2021, and the market is now projected to grow from USD 813.9 billion in 2022 to USD 11088.1 billion by 2029, exhibiting a CAGR of 45.2% during the forecast period of 2022-2029.

The future mobility continued to invest in the middle of the pandemic, as a McKinsey report pointed to continued Proof of Concept interest in ACES, meaning autonomous, connected, electric, and shared technologies. These key areas are autonomous driving, connectivity, and electrification. Connectivity applications stimulated about USD 18 billion in spending by integrating vehicle to infrastructure communication (V2I), and vehicle to everything (V2X). We emphasize increasing attention to improving transportation technology based on this trend.

The world health organization’s report published in 2018 reveals that global road accidents claiming the lives of more than 1.3 million people per year involve vehicles. A study undertaken by the Department of Transportation in the United States of America show that V2X technology could help to cut down on road carnage by as much as 80%. V2X improves traffic conditions by identifying and notifying the driver of the presence of an object they cannot normally see; hence may reduce the number of traffic fatalities. The possible application of this technology might bring about major changes in road safety systems across the globe.

C-V2X technology is backed up by several Mobile Equipment Manufacturers, Telecom Operators & Automobile Manufacturers such as Daimler, Ford, Tesla, Audi, Nissan, BMW and more. Ford promised to introduce C-V2X in all new US car model from 2022 and have planned to launch in China in 2021. With more organizations attuning themselves to utilize C-V2X, such as enabling a better-connected and safer environment for vehicles on the roads, this will cause the market for these services to expand too.

Comprehensive Analysis of Automotive V2X Market

The automotive V2X market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by connectivity type analysis, by communication type analysis, by vehicle type analysis, and by unit type analysis. By connectivity type analysis include DSRC and cellular. By communication type analysis include vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), and others. By vehicle type analysis include passenger cars and commercial vehicles. By unit type analysis include onboard unit (OBU) and roadside unit (RBU).

The Asia Pacific region lead the automotive V2X market share by benefitting a market size of USD 259.0 billion in 2021 due to its technology development.

The top players have a significant responsibility in the automotives industry for confirming industrial prospectus growth and determining the market trends. These players include, Denso Corporation, Aptiv, Infineon Technologies AG, Continental AG, Qualcomm Technologies, Inc., Autotalks Ltd., Cohda Wireless, Kapsch TrafficCom, Savari Inc., Lear Corporation, LG Electronics, Ford Motor Company, Robert Bosch GmbH, NXP Semiconductors, Harman International these market players provide a level-playing competitive landscape.

In October 2021, Brandmotion LLC announced a collaboration with DENSO Products and Services Americas to provide cities with a one-stop service for equipping vehicles with advanced V2X technology.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2018-2029

Base Year 2021

Estimated Year 2022

Forecast Period 2022-2029

Historical Period 2018-2020

Unit Value (USD Million)

Segmentation By Connectivity Type

DSRC

Cellular

By Communication Type

Vehicle-to-Vehicle (V2V)

Vehicle-to-Infrastructure (V2I)

Vehicle-to-Pedestrian (V2P)

Others

By Vehicle Type

Passenger Cars

Commercial Vehicles

By Unit Type

Onboard Unit

Roadside Unit

By Geography

North America (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

U.S. (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

Canada (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

Mexico (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

Europe (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

U.K. (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

Germany (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

France (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

Rest of Europe (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

Asia Pacific (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

China (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

Japan (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

India (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

South Korea (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

Rest of Asia Pacific (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

Rest of the World (By Connectivity Type, By Communication Type, By Vehicle Type, By Unit Type)

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