Automotive V2X Market is Forecasted to Reach US$ 2.3 Billion in 2031, Says Stratview Research

The global automotive V2X market is projected to witness a growth rate of 25.1% annually from 2024 to 2031, with an anticipated size of US$ 2.3 billion by 2031, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global automotive V2X market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2031: US$ 2.3 billion
Growth (CAGR): 25.1% during 2024-2031
Forecast Period: 2024-2031
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 3
Number of Tables & Graphs: 100+

Segment Insights on the Automotive V2X Market:

The global Automotive V2X market is segmented based on Technology type, Communication type, and Region.

Based on technology type - The automotive V2X market is segmented into DSRC and C-V2X. DSRC (Dedicated Short-Range Communications) has been dominant in Europe and was also widely used in the USA by 2023. However, from 2024 onward, C-V2X (Cellular V2X) is expected to take over in the USA due to the FCC agreement in April 2023, which approved the deployment of C-V2X technology for connected vehicles. Europe continues to rely on DSRC, but the shift towards C-V2X is gaining traction globally, especially with advancements in 5G networks. C-V2X is rapidly gaining popularity and widespread adoption due to its better range, higher bandwidth, lower latency, cost efficiency, 5G compatibility, and strong support from the automotive and telecom industries.

Based on communication type - The market is segmented into V2V & V2I and integrated. Integrated V2X holds a larger market share and is also expected to remain dominant during the forecast period. V2V stands for vehicle-to-vehicle communication. It is a key component of V2X that enables direct communication between vehicles to enhance road safety and traffic efficiency. In V2V communication, vehicles share information about their location, speed, direction, and other relevant real-time data to avoid accidents and make driving safer and more efficient. The integrated communication type includes Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), and Vehicle-to-Network (V2N) communication types.

Integrated V2X (V2V, V2I, V2P, and V2N) provides more comprehensive, real-time, and future-proof solutions. It ensures broader connectivity, enhances road safety, supports autonomous vehicles, optimizes traffic flow, and leverages 5G for real-time data exchange.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/3948/automotive-v2x-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

In terms of region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Europe is the largest market for automotive V2X, whereas Asia-Pacific is expected to experience the fastest growth during the forecast period. Europe's strict safety regulations, early DSRC adoption, strong smart city investments, leadership in automotive innovation, and growing 5G-based C-V2X deployment are key factors driving its dominance in the automotive V2X market. The presence of key automakers, such as Volkswagen, BMW, Mercedes-Benz, Audi, and Volvo, are pioneers in V2X adoption; partnerships with telecom and tech firms push C-V2X and 5G-based deployments in the region.

Asia-Pacific is likely to experience rapid growth in the automotive V2X market owing to key factors, such as strong government initiatives & regulations; the largest automotive market with China, India, and Japan being the leading vehicle producers; increasing demand for connected and autonomous vehicles; rising investment in smart city and intelligent transportation infrastructure; and increasing consumer focus on safety and advanced driving features.

Automotive V2X Market Drivers:
Some of the key drivers listed in the report are given below.
• Increasing Road Safety Concerns: Rising traffic fatalities drive demand for V2X technology to enhance collision avoidance and situational awareness.
• Government Regulations and Support: Policies promoting smart transportation and safety standards accelerate V2X adoption globally.
• Advancements in 5G Connectivity: High-speed, low-latency 5G networks enable real-time V2X communication for connected vehicles.
• Growth of Autonomous Vehicles: V2X integration with ADAS and self-driving systems boosts market expansion.
• Smart City Initiatives: Urbanization and intelligent infrastructure development fuel V2X for traffic optimization and pedestrian safety

Top Companies in the Automotive V2X Market:
Stratview Research has identified the following companies as the top market players.
• Harman International (A Samsung Company)
• LG Electronic Vehicle Solution
• NXP Semiconductor
• JOYNEXT
• Robert Bosch GmbH
• DENSO Corporation
• Continental AG
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Automotive V2X Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.