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What's Driving the C-V2X Market Trends? AT&T, Autotalks ,Commsignia., Continental, Ficosa Internacional SA, GENVICT, Huawei Technologies,nfineon Technologies AG, Intel, Keysight Technologies, Nokia Corporation, NTT Docomo Inc., Qualcomm

03-24-2020 03:22 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Research

C-V2X Market

C-V2X Market

Global C-V2X market will exceed US$800 million valuation by 2025. Remarkable technological advancements in the field of transportation and auto manufacturing have provided cellular vehicle-to-everything market with a robust growth platform. C-V2X systems are specifically designed to connect vehicles with each other as well as the roadside infrastructure, pedestrians and communication networks. These are aimed at reducing the number of fatal road accidents, the prevalence of which has prompted several government initiatives. Numerous private and government sector efforts will encourage adoption of novel safety features, expanding C-V2X industry share.

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Increasing sales of luxury automobiles, supported by easily available car financing, has enabled manufacturers to install advanced functions like driver assistance systems. Modern informant systems and vehicle telematics installed in cars are experiencing a definite surge, driving the utilization of C-V2X products with an emphasis on enhancing comfort and complying with regulations for driver safety. Interest from global carmakers and a lack for other efficient alternatives will certainly boost global C-V2X market trends.
National Highway Traffic Safety Administration (NHTSA), the U.S. transportation agency, had proposed a V2V regulatory mandate in 2016 that requires Dedicated Short-Range Communications (DSRC) technology to be installed in vehicles. However, NHTSA did not act on the proposal which left the door open for C-V2X market to secure a foothold in the industry. Ford, world's leading automobile manufacturer, showed consistent support for the technological solutions and announced that it will be introducing V2X communications beginning from the year 2022.

Advanced driver assistance systems (ADAS) will witness higher demand owing to their increasing utilization in vehicles that have V2X solutions. The improved features offered by V2X systems along with the availability of DSRC like adaptive cruise control, traffic sign recognition and blind spot warnings will expand the scope of C-V2X market substantially. Industry potential can be understood from the fact that over 70 million passenger cars had been manufactured in 2018.

Kapsch launched the RIS-9260, the first roadside ITS station platform for C-V2X direct communication. The roadside unit supposedly enables vehicles to connect with their environment while the traffic infrastructure provides vehicles with required information to enhance safety. The company believes that the launch of RIS-9260 will drive the commercial introduction of V2X communications, signifying a major step towards reinforcing C-V2X market outlook from vehicle-to-infrastructure applications.

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According to the safety facts listed by NHTSA, around 615,000 number of vehicles can be prevented from crashing by using cellular vehicle to vehicle (C-V2V) technology. EU's framework program for research and innovation, Horizon 2020, has appropriated a budget of $353 million to support research and development on all automated vehicles. Similar initiatives will undoubtedly augment C-V2X industry share over the forecast timespan. Reports confirm that Europe accounted for the highest revenues accrued by global C-V2X market in 2018, with a share of nearly 40%.

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