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Impact Of Road Accidents On The Cellular Vehicle-to-Everything (C-V2X) Market: Major Factor in the Transformation of the Cellular Vehicle To Everything Market in 2025
Cellular Vehicle To Everything Market
The cellular vehicle-to-everything market has seen exponential growth in recent years. It will grow from $0.94 billion in 2024 to $1.25 billion in 2025 at a CAGR of 32.7%. This growth is driven by the rising demand for cellular vehicle-to-everything (C-V2X) products and services, regulatory support, reduced production and installation costs, government initiatives for smart cities, and increased smartphone penetration.
The cellular vehicle-to-everything (C-V2X) market is projected to grow to $3.42 billion by 2029 at a CAGR of 28.5%. This growth is driven by the increasing number of road accidents, the rise of autonomous vehicles, the demand for safer road travel, the growing popularity of vehicle telematics, and environmental sustainability concerns. Trends shaping the market include advancements in technology, the rise of smart city initiatives, the integration of C-V2X with advanced driver assistance systems (ADAS), and the adoption of C-V2X technology in automobiles.
What Key Elements Are Boosting Growth in the Cellular Vehicle To Everything Market?
The rising number of road accidents globally is expected to propel the growth of the cellular vehicle-to-everything (C-V2X) market. C-V2X technology facilitates communication between vehicles and infrastructure, helping reduce accidents and improve road safety. With the increase in road fatalities, such as the 10% rise in road deaths in the UK in 2022, C-V2X technology is becoming crucial for enhancing road safety.
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Who Are the Major Industry Players Fueling Cellular Vehicle To Everything Market Expansion?
Major companies operating in the cellular vehicle-to-everything market are AT&T Inc., Robert Bosch GmbH, Huawei Technologies co. Ltd., Audi AG, Intel Corporation, Daimler Truck AG, Qualcomm Technologies Inc., NTT DOCOMO Inc., Continental AG, Nvidia Corporation, Nokia Corporation, ZTE Corporation, Aptiv PLC, Infineon Technologies AG, NXP Semiconductors, Keysight Technologies, Harman International Industries Inc., Rohde & Schwarz GmbH & Co. KG, Quectel Wireless Solutions Co. Ltd., TomTom International BV, Autotalks Ltd., Commsignia Ltd., Savari Inc., Ficosa International SA, Cohda Wireless Pty Ltd., Shenzhen Genvict Technologies Co. Ltd., Quectel wireless co. Ltd., Unex Technology Corp., MediaTek Inc., Reliance Jio Infocomm Ltd.
Which Key Developments Are Influencing the Cellular Vehicle To Everything Market?
In the cellular vehicle-to-everything market, leading companies are focusing on developing advanced products like next-generation C-V2X modules to improve road safety and traffic flow. These modules facilitate communication between vehicles and their surroundings, improving safety and traffic efficiency. In November 2022, Quectel Wireless Solutions, based in China, launched the AG18 C-V2X module, which features PC5 direct communications to allow vehicles to communicate with each other and their surroundings. The AG18 module supports multiple communication types, such as vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-pedestrian (V2P), offering superior ESD and EMI protection.
How Is the Segmentation of the Cellular Vehicle To Everything Market Defined?
The cellular vehicle-to-everything market covered in this report is segmented -
1) By Component: Hardware, Software
2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
3) By Communication Type: Vehicle-To-Person (V2P), Vehicle-To-Infrastructure (V2I), Vehicle-To-Network (V2N), Vehicle-To-Vehicle (V2V)
4) By Application: Fleet Management, Autonomous Driving, Collision Avoidance, Intelligent Traffic Systems, Parking Management Systems
Subsegments:
1) By Hardware: Antennas, Communication Modules, Processors, Sensors, Transceivers, Controllers
2) By Software: V2X Communication Software, Data Management Software, Security Software, Network Management Software
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What Is the Leading Region in the Cellular Vehicle To Everything Market?
North America was the largest region in the cellular vehicle-to-everything market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cellular vehicle-to-everything market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Cellular Vehicle To Everything Global Market Report?
- Market Size Analysis: Analyze the Cellular Vehicle To Everything Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Cellular Vehicle To Everything Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Cellular Vehicle To Everything Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Cellular Vehicle To Everything Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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