Global Automotive V2X Market, Industry Insights by Connectivity Type, by Communication Type, by Vehicle Type, Technology - Analysis and Forecast to 2025

The global automotive V2X market is estimated to be USD 700.0 million in 2020 and is further expected to witness CAGR of 40.0% during the forecast period.

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Increasing demand for connected vehicles is the key trend that is expected to bolster the growth of global automotive V2X market. Connectivity is becoming a crucial factor in the transportation system as more and more consumers are adopting this vehicle. Moreover, extensive initiative undertaken by the government authorities towards development of intelligent transportation systems along with growing popularity of in-vehicle connectivity systems is enhancing the driverless feature in a car. Moreover, these features are further escalating the growth of global automotive V2X market.

On the basis of communication type, the global automotive V2X market is subdivided into Vehicle-To-Infrastructure (V2I), Vehicle-To-Grid (V2G), Vehicle-To-Pedestrian (V2P), Vehicle-To-Vehicle (V2V), Vehicle-To-Network (V2N) and Vehicle-To-Home (V2H). Amongst these segments, Vehicle-To-Vehicle segment is expected to contribute largest revenue by 2025. The growth of this segment is attributed towards various active safety features such as blind spot detection and adaptive cruise control.

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On the basis of technology, the global automotive V2X market is subdivided into emergency vehicle notification, intelligent traffic systems, parking management system, automated driver assistance, fleet & asset management, passenger information system, non-line of sight, backing, line of sight and others. Amongst these segments, emergency vehicle notification is expected to contribute largest revenue by 2025 due to increasing emphasis of government authorities towards road safety.

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Geographically, North America is the largest automotive V2X market in terms of revenue. The growth of this market in this segment is attributed towards technological progressions being undertaken in countries such as Canada and the U.S. that enables increasing acceptance of automotive V2X in this region.

Some of the key players operating in the automotive V2X market are Qualcomm, Inc., TomTom International B.V., Continental AG, HARMAN International, Infineon Technologies AG, Delphi Automotive LLP, Robert Bosch GmbH, Cisco Systems, Inc., NXP Semiconductors, and Mobileye.

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