Global Automotive V2X Market Size, Forecasts, And Opportunities – Includes Automotive V2X Market Trends
Learn about the global automotive V2X market through The Business Research Company, which provides information on automotive V2X market size, automotive V2X market drivers and restraints, automotive V2X market players, the COVID-19 impact on the automotive V2X market, and more.
The automotive V2X market size is expected to grow at a CAGR of 44.6% from $0.54 billion in 2021 to reach $3.39 billion in 2026. The global automotive V2X market size is expected to reach $23.57. billion in 2031, at a CAGR of 47.3%.
The growing global automotive industry is expected to be the key driver of the automotive V2X market.
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The automotive V2X market consists of sales of automotive V2X technologies by entities (organizations, sole traders, and partnerships) that are mainly used to increase safety and prevent collisions. Vehicle to Everything (V2X) is a communication system used in a vehicle that supports information exchange from a vehicle to moving components of the traffic system that may have an impact on the vehicle. The technology improves traffic efficiency by notifying drivers of how to approach traffic, offering other routes to avoid traffic, and spotting unoccupied parking spaces.
Global Automotive V2X Market Segments Include:
By Technology: Emergency Vehicle Notification, Automated Driver Assistance, Passenger Information System, Line Of Sight, Others
By Vehicle Type: Passenger Cars, Commercial Vehicles
By Connectivity: DSRC, Cellular
By Communication: Vehicle To Vehicle (V2V), Vehicle To Infrastructure (V2I), Vehicle To Pedestrian (V2P), Vehicle To Grid (V2G), Vehicle To Cloud (V2C), Vehicle To Device (V2D)
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global automotive V2X market, accounting for 48.2% of the market in 2021.
The Increasing adoption of C-V2X (Cellular Vehicle-to-Everything) is a key trend gaining popularity in the automotive V2X market. Automotive manufacturers are increasingly deploying cellular V2X technology to enhance the safety of vehicles. Cellular V2X is a type of connectivity platform which offers low-latency vehicle-to-vehicle (V2V), vehicle-to-roadside infrastructure (V2I) and vehicle-to-pedestrian (V2P) communication. In direct communications mode, C-V2X works independently of the cellular networks. C-V2X leverages the comprehensive coverage of secure, well-established long term evolution (LTE) networks to enable reliable, real-time communication at high speeds and in high-density traffic.
Major Market Players: Robert Bosch GmbH, NXP Semiconductors N.V., HARMAN International (Samsung Electronics Co. Ltd.), Continental AG, Lear Corporation
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Automotive V2X Market Report 2022 is one of a series of new reports from The Business Research Company that provides automotive V2X market overviews, analyzes and forecasts market size, share, automotive V2X market players, automotive V2X market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s automotive V2X market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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