V2X Communication Module Market: Lucrative Opportunities across Globe
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The global V2X communication module market is segmented on the basis of technology type, application, and region. On the basis of technology type, the V2X communication module market is segmented into Bluetooth, Wi-Fi, Dedicated Short Range Communication (DSRC), Cellular, Short range radio. GPS and others. The automobile industry is evolving and the dedicated short-range communication (DSRC) is the communication standards on which these transportation services are provided. These communication standards are based on IEEE 802.11p PHY/MAC and DSRC wireless communication and messaging protocols. By application type, the V2X communication module market was segmented into Vehicle-to-Infrastructure (V2I) Communication, Vehicle-to-Pedestrians (V2P) Communication, In-Vehicle (IN-V) Communication and others. The rising consumer demand for convenience features has enforced various OEMs to incorporate V2X communication modules. The implementation of the V2X communication will not only increase the safety aspect but will also provide an enhanced driving experience. The rising demand of safety and security features in automobiles is expected to boost the demand for the V2X communication module market during forecast period.
In the region wise study, the global V2X communication module market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe which comprises the Germany, France, and United Kingdom captured significant market share followed by North America and Asia Pacific in 2017. Asia Pacific showed the fastest growth rate during the forecast period due to the emerging economies. China represents huge potential for the V2X communication module industry with the rising adoption of automobiles and to avoid traffic congestions. Moreover, Middle East and Africa and South America is expected to witness slower growth rate comparing other regions owing to the late introduction of 5G and other emerging technologies.
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