V2X Communication Module Market : Industry Size, Share, Growth, Forecasts 2026
Vehicle-to-passenger (V2P) and vehicle-to-vehicle (V2V) communication through a wireless medium, and collectively known as V2X Communication. This sensor is designed to sense the vehicle’s surroundings to prevent collisions, warn potential hazards, ensure operator safety, and prevent traffic congestion. This sensor uses a wireless technology aimed at increasing road safety and improve traffic management and adequate to reduce environmental impact. This sensor is integrated with a processor and a RF transceiver that provides consistent RF performance with high integrative flexibility. This sensor is expected to alert drivers of potential threats, such as uncertain overtake, vehicle braking, road hazard detection, and is expected to improve collision avoidance, and heavily reduce fatalities and injury severity. Additionally, this technology is expected to enhance traffic efficiency providing warnings for upcoming traffic congestions, proposing alternative routes and securing an eco-friendly driving, reducing CO2 emission through adaptive cruise control and a smarter transportation management. The rising demand for road safety regulations, rising severity of road accidents and evolution of IoT and edge computing are some of the primary factors driving the growth of the global V2X communication module market during the forecast period. However, the high cost of investment is restraining the growth of the V2X communication module market. At present, various government regulatory bodies of various countries has imposed regulations with an aim to reduce traffic collisions and road accidents, and this is expected to create ample opportunities for V2X communication module manufacturers to come up with more advanced high-efficient sensors.
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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.
The global V2X communication module market is highly fragmented with number of companies operating in the segment. Leading players are currently focusing on providing cost competitive products to the customers and certain strategies such as agreements and acquisitions. Some of the key players engaged in V2X Communication Module market include various manufacturers such as BMW AG, Daimler AG, STMicroelectronics N.V., Continental AG, LG Innotek Commsignia Ltd, Unex Technology Corporation, NXP Semiconductors N.V., Renesas Electronics, Murata Manufacturing Co., Ltd., Volkswagen Group AG, Qualcomm Technologies, Redpine Signals, Inc., Kapsch Group and Others.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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