Press release
Automotive Vehicle To Everything (V2X) Communications Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Automotive Vehicle To Everything V2X Communications Market
The surge in the need for connected cars will foster the development of the automotive vehicle to everything (V2X) communications market in the future. Cars with internet connectivity and built-in sensors or devices that support communication with other cars, infrastructure, and external systems are known as connected vehicles. The growing popularity of connected vehicles is driven by several components, such as 5G technology, heightened attention to safety, and consumer desire for improved connectivity functions. The automotive vehicle-to-everything (V2X) communication enables these intelligent vehicles to interact and coordinate with each other and their environment, leading to safer, more efficient, and eco-friendly transportation systems. For example, the International Energy Agency (IEA), a France-based independent intergovernmental organization, recorded nearly 14 million new electric cars globally in 2023, as of April 2024. The sale of electric cars in 2023 surged by 3.5 million units compared to 2022, indicating a 35% year-on-year growth. Therefore, the escalating demand for connected cars is fuelling the growth of the automotive vehicle to everything (V2X) communications market.
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What growth opportunities are expected to drive the automotive vehicle to everything (v2x) communications market's CAGR through 2034?
The market size for Vehicle-to-Everything (V2X) communications within the automotive industry has significantly increased over the past few years. The market, which is projected to rise from $3.6 billion in 2024 to about $4.48 billion in 2025, anticipates a compound annual growth rate (CAGR) of 24.6%. The growth observed in the historic period is due to factors such as heightened awareness of the benefits of traffic safety, escalating consumer demand for high-end safety features, heightened anxieties over cybersecurity threats, a surge in the necessity for enhanced situational awareness and collision prevention systems, and an increase in investments for research and development.
Over the coming years, substantial growth is anticipated in the market size of vehicle-to-everything (V2X) communications. It's projected to escalate to $10.68 billion by 2029, establishing a compound annual growth rate (CAGR) of 24.2%. The forecasted surge can be credited to factors like heightened demand for connected vehicles, rising industrialization and urbanization, growing requirement for high-end technology, expanding focus on smart cities, and increasing acceptance of intelligent automobiles. The forecast period will witness significant trends like technological progression, fast-paced 5G network deployment, integration with autonomous and connected vehicles, wider application of cellular V2X (C-V2X) technology, and growth in smart city infrastructure.
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What new trends are reshaping the automotive vehicle to everything (v2x) communications market and its opportunities?
Key players in the market for automotive vehicle-to-everything (V2X) communications are prioritizing the creation of progressive technology solutions, including superior chipsets, to bolster vehicle communication capabilities. Improved connectivity in V2X communications in the automotive sector is achieved by these advanced chipsets, which allow instantaneous data exchanges between vehicles, infrastructures, and road users, thereby augmenting safety and traffic regulation. In a particular development in September 2022, Autotalks Ltd., a semiconductor firm based in Israel, unveiled its TEKTON3 and SECTON3 chipsets. These specialize in sophisticated V2X communications, dramatically enhancing road safety and facilitating autonomous driving capabilities. These third generation chipsets are distinctive in their ability to support both Dedicated Short-Range Communications (DSRC) and 5G Cellular V2X (C-V2X) technologies, guaranteeing they meet both current and upcoming V2X demands. As the first chipsets to receive certification for Functional Safety as per ISO 26262 ASIL B, they are ideally suited for critical automotive applications, including automatic braking.
Which growth-oriented segments of the automotive vehicle to everything (v2x) communications market are leading the industry's development?
The automotive vehicle to everything (V2X) communications market covered in this report is segmented -
1) By Type: Vehicle-To-Vehicle, Vehicle-To-Infrastructure, Vehicle-To-Pedestrian
2) By Technology: Automated Driver Assistance, Intelligent Traffic Systems, Emergency Vehicle Notification, Passenger Information System, Fleet And Asset Management, Parking Management System, Line Of Sight, Non-line Of Sight, Backing, Other Technologies
3) By Application: Road Safety Services, Automatic Parking Systems, Emergency Vehicles, Auto Car Services
Subsegments:
1) By Vehicle-To-Vehicle: Collision Avoidance, Cooperative Driving, Traffic Flow Optimization
2) By Vehicle-To-Infrastructure: Traffic Signal Control, Smart Parking Solutions, Roadside Unit (RSU) Communication, Tolling And Payment Systems
3) By Vehicle-To-Pedestrian: Pedestrian Safety Alerts, Smart Crosswalks, Pedestrian Detection And Communication
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What regions are leading the charge in the automotive vehicle to everything (v2x) communications market?
Europe was the largest region in the automotive vehicle to everything (V2X) communications market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive vehicle to everything (V2X) communications market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the automotive vehicle to everything (v2x) communications market?
Major companies operating in the automotive vehicle to everything (V2X) communications market are Volkswagen Group, Toyota Motor Corporation, The Mercedes-Benz Group AG, Ford Motor Company, General Motors Company, Bayerische Motoren Werke AG, AT&T Inc., Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Tesla Inc., Nissan Motor Corporation, Panasonic Holdings Corporation, Cisco Systems Inc., Denso Corporation, Qualcomm Technologies Inc., Continental AG, Volvo Car Corporation, Aptiv PLC, NXP Semiconductors N.V., BorgWarner Inc., Visteon Corporation, Harman International Industries Inc., Mobileye
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What Is Covered In The Automotive Vehicle To Everything (V2X) Communications Global Market Report?
• Market Size Forecast: Examine the automotive vehicle to everything (v2x) communications market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive vehicle to everything (v2x) communications market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive vehicle to everything (v2x) communications market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive vehicle to everything (v2x) communications market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive vehicle to everything (v2x) communications market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive vehicle to everything (v2x) communications market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive vehicle to everything (v2x) communications market.
• Competitive Landscape: Review strategic developments in the automotive vehicle to everything (v2x) communications market, including expansions, agreements, and new product launches.
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