V2X Communication Market Growth Set to Surge Significantly during 2022 - 2028 | Continental AG, Volkswagen AG, Toyota Motor Corporation

V2X (Vehicle to Everything) is a technology which enables a vehicle to communicate with various entities that may affect the vehicle. V2X communication helps in providing a better driving quality and avoiding road accidents.V2X communication is aiding for the development of autonomous vehicles which are capable of providing more safety and better infrastructure optimization. Companies like FedEx are using V2X communication to monitor their vehicle and increase their efficiency.

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Companies Profiled in this report includes:  Continental AG, Volkswagen AG, Toyota Motor Corporation, General Motors Company, NXP Semiconductors N.V, Robert Bosch GmbH, Tomtom NV, Cisco Systems, Inc., Denso Corporation, Savari, Inc.

MARKET SEGMENTATION

Based on communication type, the global V2X communication market is segmented on-V2V, V2I, V2P, V2C, V2G, and others.

On the basis of propulsion type, the market is segmented into internal combustion engine (CE), electric vehicles (EV).

Based on vehicle type, the market is bifurcated into passengercars, commercial vehicles.

MARKET DYNAMICS

Drivers:

Rise in dependency on the internet

Rapid development for autonomous vehicles by major auto manufacturers and integration of connected technologies

Restraints

Lack of standardization and shortage of IT resources

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IMPACT OF COVID-19 ON V2X COMMUNICATION MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

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This release was published on openPR.