Global V2X Chipset Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global V2X Chipset Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

V2X (Vehicle-to-Everything) is a wireless technology that allows vehicles to communicate with other vehicles and their surroundings. V2X-Chipset is an integrated circuit hardware including the wireless modem that manages the V2X information transmission and reception over a dedicated radio spectrum. The V2X chipset empowers industry automakers and roadside infrastructure providers with V2X capabilities for safety and autonomous driving.

Market Overview:

The latest research study on the global V2X Chipset market finds that the global V2X Chipset market reached a value of USD 680.29 million in 2022. It’s expected that the market will achieve USD 6540.29 million by 2028, exhibiting a CAGR of 45.82% during the forecast period.

A V2X chipset is an integrated circuit hardware, including a wireless modem, that manages the transmission and reception of V2X information on a dedicated radio spectrum. There are two implementation routes of V2X, DSRC and C-V2X. The implementation scenarios of V2X chipsets are also constantly upgraded. Phase 1 V2X provides life-saving condition-aware alerts. In the second phase, V2X applications can use sensor data shared by other vehicles to achieve key actions such as automatic braking. With the development of technology, the functions realized by the V2X chipset continue to increase.

1 Drivers

1.1 The accelerated process of autonomous driving drives the development of V2X chipsets.
Self-driving cars rely on the collaboration of Internet of Vehicles, 5G, artificial intelligence, visual computing, radar, monitoring devices and global positioning systems to automatically and safely operate motor vehicles, representing the future development direction of the automotive industry. In the autonomous driving solution, the V2X chipset is an important part of vehicle-road coordination.

1.2 Intelligent Transportation Brings New Opportunities for V2X Chipsets.

A new era of smart transportation, vehicle-to-everything (V2X) technology enabled by V2X chipsets will help improve safety, reduce congestion, and enhance mobility. Improve vehicle and pedestrian safety and advance climate sustainability goals.

2 Challenges

2.1 High risk of technology upgrade iteration and product development.
2.2 High capital and talent barriers.

3 Restraints

3.1 Raw material prices fluctuate.
3.2 High cost is an important limiting factor.

The hardware and software services related to automotive V2X chipset are very expensive. Therefore, major customers face the problem of reducing costs when implementing vehicle-to-vehicle connectivity systems.

Region Overview:

Asia-Pacific was the largest revenue market with a market share of 53.11% in 2019 and 52.65% in 2022, a decrease of 0.47%. In 2022, Europe market share was 24.77%, ranking second.

Company Overview:

Qualcomm

Qualcomm Incorporated operates as a multinational semiconductor and telecommunications equipment company. The Company develops and delivers digital wireless communications products and services based on CDMA digital technology.

Autotalks

Autotalks Ltd operates as a fabless semiconductor company. The Company offers vehicle-to-vehicle (V2V) communications products for autonomous driving. Autotalks serves customers globally.

The industry concentrate rate is relatively high. The market share of the top three companies in 2021 was 69.21%. The top three companies are Qualcomm, Autotalks and NXP, with the revenue market share of 39.20%, 16.98% and 13.03% in 2021.

Segmentation Overview:

Among different product types, V2V segment is anticipated to contribute the largest market share in 2027.

Application Overview:

Road Safety Service

The V2X chipset endows vehicles with communication capabilities, helps build intelligent transportation systems, provides road safety services, improves traffic efficiency, saves resources, avoids traffic accidents, and improves traffic management.

Automatic Parking System

The V2X chipset connects the vehicle to any object that can interact with the vehicle through multiple forms of communication, including other vehicles, pedestrians, roadside infrastructure and the network, and is an important part of the automatic parking system.

Auto Car Service

V2X chipsets provide fast and reliable communication between smart vehicles and intelligent transportation systems. Let smart vehicles obtain relevant information about road conditions and traffic participants in real time, help prevent traffic accidents through scene prediction, and make travel safer, more convenient and more efficient. Automakers are committed to using V2X chipsets to realize functions such as automatic driving and upgrade vehicle smart devices; they will also integrate advanced functions, such as high-precision maps and human-computer interaction, to enhance the driver experience.

By application, the Road Safety Service segment occupied the biggest share from 2017 to 2022.

Key Companies in the global V2X Chipset market covered in Chapter 3:

Autotalks
Qualcomm
Datang GohighSec
Huawei Technologies
NXP
Quectel Wireless Solutions

In Chapter 4 and Chapter 14.2, on the basis of types, the V2X Chipset market from 2018 to 2029 is primarily split into:

V2V
V2I
V2P
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the V2X Chipset market from 2018 to 2029 covers:

Road Safety Service
Automatic Parking System
Auto Car Service
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)