Automotive Vehicle-to-Everything (V2X)

Automotive Vehicle-to-Everything (V2X)

Global Automotive Vehicle-to-Everything (V2X) Market to Reach US$14.3 Billion by 2030

The global market for Automotive Vehicle-to-Everything (V2X) estimated at US$1.1 Billion in the year 2023, is expected to reach US$14.3 Billion by 2030, growing at a CAGR of 43.5% over the analysis period 2023-2030. Automotive V2X Software, one of the segments analyzed in the report, is expected to record a 47.1% CAGR and reach US$11.6 Billion by the end of the analysis period. Growth in the Automotive V2X Hardware segment is estimated at 33.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$334.1 Million While China is Forecast to Grow at 52.4% CAGR

The Automotive Vehicle-to-Everything (V2X) market in the U.S. is estimated at US$334.1 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.7 Billion by the year 2030 trailing a CAGR of 52.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 30.7% and 42.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 36.2% CAGR.

Global Automotive Vehicle-to-Everything (V2X) Market - Key Trends & Drivers Summarized

Automotive Vehicle-to-Everything (V2X) technology represents a significant advancement in the realm of connected and autonomous vehicles, facilitating communication between vehicles and various elements of the transportation system. V2X encompasses several types of communications: Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), and Vehicle-to-Network (V2N). By enabling real-time data exchange between vehicles and their surroundings, V2X enhances road safety, optimizes traffic flow, and contributes to more efficient and eco-friendly transportation systems. For instance, V2V communication allows vehicles to share information about their speed, position, and direction, helping to prevent collisions and improve overall traffic safety. V2I communication, on the other hand, connects vehicles with traffic signals and road infrastructure, providing drivers with critical information about road conditions, traffic light timings, and potential hazards.

The development and deployment of V2X technology are underpinned by advancements in wireless communication technologies, such as Dedicated Short-Range Communications (DSRC) and cellular V2X (C-V2X). DSRC is a well-established technology that enables low-latency communication between vehicles and infrastructure, making it suitable for safety-critical applications. Meanwhile, C-V2X leverages the capabilities of 4G and 5G networks to offer higher data rates, greater coverage, and enhanced reliability. This dual approach ensures robust and seamless communication, accommodating the diverse needs of V2X applications. The integration of V2X technology with other emerging automotive innovations, such as advanced driver-assistance systems (ADAS) and autonomous driving, is poised to transform the driving experience. By enabling vehicles to anticipate and respond to their environment proactively, V2X contributes to the development of smarter, safer, and more connected mobility ecosystems.

The growth in the automotive V2X market is driven by several factors, including the increasing emphasis on road safety, the push for smart city initiatives, and the rapid advancements in communication technologies. Governments and regulatory bodies worldwide are recognizing the potential of V2X technology to reduce traffic accidents and fatalities, leading to supportive policies and infrastructure investments. The advent of smart cities, which rely on interconnected systems for efficient urban management, is also fueling the adoption of V2X as a critical component of intelligent transportation systems. Additionally, the continuous evolution of 5G technology is providing the necessary bandwidth and reliability for V2X applications, ensuring robust and real-time communication. Automotive manufacturers are increasingly incorporating V2X capabilities into their vehicles to enhance safety features and offer a competitive edge. As these trends continue to converge, the automotive V2X market is expected to witness substantial growth, driven by the ongoing advancements in technology and the growing demand for safer, more efficient, and connected transportation solutions.

Select Competitors (Total 89 Featured) -

• Cisco Systems, Inc.
• AT&T, Inc.
• Capgemini SE
• Audi AG
• Alps Alpine Co., Ltd.
• Amphenol Corporation
• Bayerische Motoren Werke AG (BMW GROUP)
• Autoliv, Inc.
• Aeris Communications, Inc.
• Arm Ltd.
• Aptiv PLC
• Autotalks, Ltd.
• Cohda Wireless Pty Ltd.
• Commsignia Ltd.
• Connected Signals, Inc.

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