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Automotive V2X Market is Expected to Reach from USD 2.4 billion to USD 32.1 billion in 2029, and growing at a CAGR of 38.3% | Size, Share, Industry Report
Automotive V2X Market
Automotive V2X Market was valued at USD 2.4 billion in 2021, and is expected to reach USD 32.1 billion in 2029, exhibiting a double digit CAGR of 38.3% from 2022-2029.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/automotive-v2x-market/
The factors driving the growth of Automotive V2X Market includes increase in the number of road accidents around the world, growing popularity of autonomous vehicles, commercialization of 5G technology, rise in the production of electric vehicles and improvements in the living standards. According to the report published by Statista, the Global Autonomous Vehicles Market was calculated around USD 105.7 billion in 2021 and is expected to reach USD 396.7 billion by the end of 2025, which will accelerate the Automotive V2X Market share in the approaching years. In addition, Government policies promoting the use of V2X technology, rising concerns related to environmental pollution, growing adoption of advanced technologies such as Artificial Intelligence (AI) and Cellular V2X and rapid urbanization, are some of the additional factors supplementing the Automotive V2X Market size. Moreover, the increasing investments by major players on research and development, rise in the launch of innovative products, and growing disposable incomes, are further contributing towards the market growth.
However, growth of the Automotive V2X Market is hindered due to growing concerns related to cyber-attacks.
The leading players operating in the market are NXP Semiconductors, Delphi Technologies, Denso Corporation, Continental AG, Qualcomm Technologies, Inc., Autotalks Ltd., Infineon Technologies AG, HARMAN International, Robert Bosch GmbH, and STMicroelectronics, among others.
Based on Communication, the Vehicle-To-Vehicle (V2V) segment is predicted to grow at a robust CAGR during the forecast period
The Vehicle-To-Vehicle communication systems enhances road safety, reduces traffic congestion, and streamlines flow vehicles on the road, are some of the features pushing growth of the segment.
Based on Connectivity, the C-V2X (Cellular-V2X) segment is projected to expand at a faster CAGR over the forecast period
C-V2X supports both short-range and long-range transmission among vehicles, enables real time communication at high speeds and secures LTE networks, are some of the factors propelling growth of the segment.
Based on Region, the European region is anticipated to grow at a remarkable CAGR during the forecast period
Government policies supporting the manufacturing of electric vehicles, rising concerns related to safety of vehicles, growing adoption of advanced technologies by major companies, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in European region.
Key Developments
In 2019, Continental AG launched a 5G hybrid platform that integrates V2X technology. This solution allows both network & mobile communication along with the reliable direct exchange of the data and reduces the cost and complexity for a global application of V2X communication.
In 2019, Autotalks Ltd. collaborated with CEVA, Inc. to integrate C-V2X Rel. 14/15 support to the CEVA-XC DSP based chipset of Autotalks and developed the solution which can support both C-V2X direct communication and DSRC.
Market Segmentation
Segmentation by Offering
Hardware
Software
Segmentation by Communication
Vehicle-To-Infrastructure (V2I)
Vehicle-To-Vehicle (V2V)
Vehicle-To-Pedestrian (V2P)
Vehicle-To-Grid (V2G)
Vehicle-To-Device (V2D)
Vehicle-To-Cloud (V2C)
Segmentation by Propulsion
EV
ICE
Segmentation by Connectivity
C-V2X (Cellular-V2X)
DSRC (Dedicated Short-Range Communications)
Segmentation by Technology
V2I
Emergency Vehicle Notification
Intelligent Traffic System (ITS)
Fleet & Asset Management
Passenger Information System
Parking Management System
V2V
Automated Driver Assistance
V2P
Non-Line of Sight
Line of Sight
Backing
Segmentation by Vehicle Type
Commercial Vehicle
Passenger Car
Segmentation by Unit
Roadside Unit (RSU)
On-Board Unit (OBU)
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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