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Automotive Vehicle To Everything (V2X) Communications Industry Expected to Reach $9.77 Billion by 2029 at 21.9% CAGR
Automotive Vehicle To Everything (V2X) Communications
Automotive Vehicle To Everything (V2X) Communications Market Value Projection: How Much Will the Market Size by 2025?
In recent years, the size of the automotive vehicle to everything (v2x) communications market has seen substantial growth. It is projected to increase from $3.6 billion in 2024 to $4.43 billion in 2025, registering a compound annual growth rate (CAGR) of 23.3%. Factors like greater understanding of traffic safety advantages, raising consumer demand for sophisticated safety features, an escalation in worries about cybersecurity threats, a rise in the requirement for improved situational awareness and collision avoidance systems, and an increase in investment in research and development have all contributed to this growth during the historic period.
What Will Be the Market Growth Forecat for Automotive Vehicle To Everything (V2X) Communications in 2029?
Expectations are high for the automotive vehicle to everything (v2x) communications market, with anticipated significant expansion in the coming years. By 2029, predictions state the market will reach $9.77 billion, with a compound annual growth rate (CAGR) of 21.9%. This predicted growth could be due to increased interest in connected vehicles, continued industrialization and urbanization, heightened demand for cutting-edge technology, larger focus on the development of smart cities, and increased mainstream usage of smart automobiles. Upcoming trends for the forecast period encompass technological progress, swift roll-out of 5G networks, incorporation with connected and autonomous vehicles, the surge of mobile vehicle to everything (C-V2X) technology, and the growth of smart city infrastructure.
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What Are the Core Competitive Drivers in the Automotive Vehicle To Everything (V2X) Communications Industry?
The surge in connected vehicle requirements is boosting the advancement of the automotive vehicle-to-everything (V2X) communications sector. Connected automobiles are vehicles equipped with internet connectivity and sensors that can interact with other vehicles, infrastructure, and external systems. The rising demand for these is due to numerous elements, including 5G connectivity, heightened emphasis on safety measures, and the public's desire for enhanced connectivity features. Automotive V2X communication facilitates the interaction of connected vehicles with one another and their environment, leading to safer, more efficient, and environmentally conscious transportation services. For example, it was reported by the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, that around 14 million new electric cars were registered worldwide in 2023. This signifies a 35% growth with an increase of 3.5 million units compared to 2022. Therefore, the booming demand for connected vehicles is propelling the automotive vehicle-to-everything (V2X) communications market's growth.
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Which Automotive Vehicle To Everything (V2X) Communications Market Segment Is Projected to See the Fastest Growth?
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
Which Trends Are Opening New Opportunities in the Automotive Vehicle To Everything (V2X) Communications Market?
Leading businesses in the automotive vehicle-to-everything (V2X) communications market are investing in the creation of cutting-edge technology solutions, including state-of-the-art chipsets, as a way to boost vehicle communication capabilities. By enabling real-time data transfer between vehicles, infrastructure, and road users, these high-tech chipsets make for improved connectivity and aid in improving safety and managing traffic more effectively. A case in point is the Israeli semiconductor firm, Autotalks Ltd. In September 2022, the company released the TEKTON3 and SECTON3 chipsets. These chips are engineered to specialize in top-tier Vehicle-to-Everything (V2X) communications, dramatically enhancing road safety and facilitating autonomous driving capabilities. The third-generation chips are uniquely designed to support both Dedicated Short-Range Communications (DSRC) and 5G Cellular V2X (C-V2X) technologies, guaranteeing that they align with both current and upcoming V2X necessities. These chips are the first to have been certified for Functional Safety, meeting ISO 26262 ASIL B standards, which make them perfect for critical automotive applications such as automatic braking.
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Who Are the 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 Regional Automotive Vehicle To Everything (V2X) Communications Markets Offer the Greatest Growth Potential?
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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