Automotive Vehicle To Everything (V2X) Communications Market Expected to Achieve 24.2% CAGR by 2029: Growth Forecast Insights

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How Large Will the Automotive Vehicle To Everything (V2X) Communications Market Size By 2025?
The market size for Vehicle to Everything (V2X) communications in the automotive sector has seen tremendous growth in the past few years. Its predicted expansion from $3.6 billion in 2024 to $4.48 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 24.6%, signifies the potential of this industry. Factors contributing to the growth in the historic period include heightened public consciousness of the advantages of traffic safety, increased customer demand for sophisticated safety features, growing concerns over cybersecurity threats, the necessity for superior situational awareness and collision prevention systems, and an inflow of investments in research and development.

How Big Is the Automotive Vehicle To Everything (V2X) Communications Market Size Expected to Grow by 2029?
The market size of V2X (Vehicle to Everything) communications in the automotive industry is anticipated to witness enormous growth over the forthcoming years. It's projected to reach a value of $10.68 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 24.2%. The predicted boost during the forecast period is a consequence of the escalating demand for connected vehicles, burgeoning industrialization and urbanization, increased craving for cutting-edge technologies, enhanced emphasis on smart cities and the growing acceptance of intelligent automobiles. Trends that will shape the forecast period include technological breakthroughs, fast-tracked rollout of 5G networks, harmonization with connected and autonomous vehicles, proliferation of cellular V2X (C-V2X) technology, and smart city infrastructure.

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Which Key Market Drivers Powering Automotive Vehicle To Everything (V2X) Communications Market Expansion and Growth?
The rising interest in connected vehicles is set to fuel the expansion of the automotive vehicle-to-everything (V2X) communications market. Connected vehicles are cars outfitted with internet connectivity and built-in sensors or devices, enabling them to interact with other vehicles, infrastructure, and external systems. Factors such as 5G connectivity, a growing emphasis on safety, and consumer appetite for improved connectivity features are contributing to the surging demand for connected vehicles. Automotive V2X communications enable these connected vehicles to interact and cooperate with each other and their environment, leading to safer, more efficient, and greener transport systems. For example, in April 2024, the France-based International Energy Agency (IEA), an independent intergovernmental organization, stated that about 14 million new electric cars were registered worldwide in 2023. Electric car sales in 2023 increased by 3.5 million units from 2022, marking a 35% annual growth. Thus, the burgeoning demand for connected vehicles is propelling the growth of the automotive vehicle to everything (V2X) communications market.

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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Vehicle To Everything (V2X) Communications Market?
Leading organizations in the automotive vehicle-to-everything (V2X) communications market are concentrating their efforts on pioneering innovative technology solutions, like cutting-edge chipsets to bolster communication between vehicles. These advanced chipsets in the V2X communications field enhance connectivity by promoting real-time data sharing among vehicles, infrastructure, and road users, thereby improving traffic management and safety. For instance, Autotalks Ltd, a semiconductor firm based in Israel, released the TEKTON3 and SECTON3 chipsets in September 2022. These specialise in advanced V2X communications, markedly heightening road safety and facilitating features for autonomous driving. These third-gen chipsets are distinctly designed to support both Dedicated Short-Range Communications (DSRC) and 5G Cellular V2X (C-V2X) technologies, ensuring they meet both current and emerging V2X demands. Since they are the first chipsets to receive certification for Functional Safety in accordance with ISO 26262 ASIL B, they are appropriate for critical automotive applications, including automatic braking.

What Are the Emerging Segments in the Automotive Vehicle To Everything (V2X) Communications Market?
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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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the Automotive Vehicle To Everything (V2X) Communications Industry?
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.

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