Press release
Cellular Vehicle-To-Everything Market Anticipated To Witness Robust Growth, Surpassing $3.42 Billion By 2029
Cellular Vehicle-To-Everything
What Is the Current Cellular Vehicle-To-Everything Market Size and Its Estimated Growth Rate?
In recent times, the scale of the cellular vehicle-to-everything market has witnessed exponential growth. It is projected to increase from $0.94 billion in 2024 up to $1.25 billion in 2025, boasting a compound annual growth rate (CAGR) of 32.7%. The uptick in growth during the historical period can be linked to factors such as escalating demand for cellular vehicle-to-everything (C-V2X) products and services, favorable regulations, consistent diminution in production and installation costs, increasing government initiatives towards creating smart cities, and a surge in smartphone usage.
In the coming years, the market size for cellular vehicle-to-everything is projected to experience remarkable growth. The value is anticipated to reach $3.42 billion by 2029, progressing at a compound annual growth rate (CAGR) of 28.5%. Factors contributing to this increased growth during the projected period include the escalating numbers of road accidents worldwide, increased integration of autonomous vehicles, growing demand for safer transportation, rising interest in vehicle telematics, and heightened awareness regarding ecological sustainability. Key trends set to shape this period include technological progression, increased global smart city initiatives, wider acceptance of road safety standards, the integration of C-V2X with advanced driver assistance systems (ADAS), and broader inclusion of C-V2X technology in cars.
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How Are Emerging Segments Shaping the Cellular Vehicle-To-Everything Market Landscape?
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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Which Growth Factors Are Influencing Cellular Vehicle-To-Everything Market Expansion?
The global increase in road accidents is anticipated to stimulate the expansion of the cellular vehicle-to-everything market. Road accidents typically happen when a vehicle hits another car, pedestrian, animal, or immovable object on a publicly accessible road. The rise in such mishaps can be attributed to numerous reasons, including human mistakes, substandard roadway conditions and vehicular flaws. Cellular vehicle-to-everything (C-V2X) technology addresses this issue by allowing real-time exchange of information between vehicles and infrastructure, aiding in quick reactions to potential perils. The principal objective of C-V2X, achieved by its uninterrupted connectivity, is to dramatically bolster roadway safety by proactively managing collision threats and optimizing traffic management. To illustrate, in November 2023, Brake, a UK road safety charity organization, reported that in 2022, the UK witnessed 1,766 road fatalities, with 1,711 in Britain and 55 in Northern Ireland, marking a 10% surge from the previous year. Consequently, the global upswing in road mishaps is fueling the progression of the cellular vehicle-to-everything market.
Who Are the Dominant Players Across Different Cellular Vehicle-To-Everything Market Segments?
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.
What Cellular Vehicle-To-Everything Market Trends Are Gaining Traction Across Different Segments?
Dominant corporations operating in the cellular vehicle-to-everything sector are focusing their energies on creating cutting-edge products, like the next-generation cellular vehicle-to-everything (C-V2X) module, to enhance traffic flow and safety on the roads. These next-generation C-V2X modules are sophisticated modes of communication, designed to increase the safety and efficiency of traffic systems. For example, in November 2022, Quectel Wireless Solutions Co. Ltd., a firm located in China that specializes in designing, producing, and distributing cellular communication modules, launched the AG18 module. This newly introduced next-generation C-V2X module possesses the ability of PC5 direct communications, thereby allowing vehicles to interact more effectively with each other and the environment, therefore improving safety and traffic flow. This AG18 module can support various communication forms such as vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-pedestrian (V2P) using the unified 5.9GHz intelligent cellular subscription. This module is specifically engineered for use in extreme conditions, offering top-notch ESD (electric discharge) or EMI (electric interference) protection performance.
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Which Geographic Regions Are Expected to Dominate the Cellular Vehicle-To-Everything Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cellular Vehicle-To-Everything Market?
2. What is the CAGR expected in the Cellular Vehicle-To-Everything Market?
3. What Are the Key Innovations Transforming the Cellular Vehicle-To-Everything Industry?
4. Which Region Is Leading the Cellular Vehicle-To-Everything Market?
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