The evolution of the automobile industry can be attributed to the ever-changing buyer’s preferences, escalated focus on passenger safety, environmental concerns, and stringent government rules and regulation, aiming for minimal road accidents. In the past few years, vehicles have witnessed rapid technological advancements regarding passenger safety, communication capabilities, and driving experience, owing to the increase in focus from automakers and consumers to enhance safety and comfort in the vehicles. These goals of automakers are profoundly supported by numerous federal authorities such as the National Highway Traffic Safety Administration (NHTSA), European Commission (EC), and Departments of Transportation (DoT) in numerous regions. This is expected to advance vehicle safety on public roads with the integration of vehicle-to-everything (V2X) communication in automobiles.
Increasing number of road accidents has resulted in increased stringency in regulations by federal authorities concerning the safety of both the vehicle passengers and the pedestrians, leading to a rise in the demand for V2X connectivity, which works on dedicated short-range communication (DSRC) and cellular-V2X (C-V2X). Applications such as lane departure warning, automated emergency braking, blind-spot detection, and lane change assist, are expected to improve road safety manifold. The automotive V2X market is also proportionally relative to the development of connected vehicles. The rising demand for luxury cars, due to the increasing disposable income of the middle-income population in developing countries, has influenced the automotive V2X market to substantially enhance its trails and testing for the early commercialization of the technology.
The automotive V2X market has been segmented on the basis of application type, product type, and region, which is further segment into countries. The everlasting benefits of V2X technology has led the automotive OEMs partnered with tier-one manufacturers, network providers, and various government entities, among others, to carry out the trials of V2X in different regions, globally. Additionally, huge investments for infrastructure development by government and federal agencies to aid V2X technology are further bolstering the growth of automotive V2X market. However, certain challenges, lack of proper infrastructure, latency issues and concerns over user data, among others, are still major roadblocks for the V2X technology.
Vehicle-to-everything (V2X) is a wireless communications technology that aims to enable data exchange between a vehicle and its surroundings. In a V2X ecosystem, vehicles, mobile devices, and roadside equipment, among others, generate and exchange data, allowing them to alert the users about driving and environment conditions on the road. By leveraging V2X communications, the driving experience of drivers, pedestrians, and other vehicles is enhanced by the prevention of crashes, enhancement in traffic flow, reduction in transit trip times, and reduction in greenhouse gas emissions. The market dynamics section of the report examines the diverse factors which govern the process of manufacturing, distribution, and usage of automotive V2X system globally. This analysis provides an in-depth understanding of the present and the future directions in which the market is headed and the impact of various factors on the same. This chapter covers the major market dynamics, namely the drivers, challenges, and the opportunities, analyzing several factors that positively and negatively affect the automotive V2X market. The impact of COVID-19 has a severely affected the world, owing to social distancing and global lockdowns. Numerous industries have been hampered at a global scale with economies facing acute downfalls. However, even before COVID-19, the automotive industry had been facing numerous challenges including reduced sales in many markets. Furthermore, the coronavirus pandemic has turned those challenges into a crisis. The primeval concerns over a disruption in the China automotive industry escalated to a large scale, involving industries in Europe, U.S., and India, among others. The automotive V2X market has witnessed numerous significant developments by different ecosystem players to gain a significant market share varying from partnerships and collaborations to merger and acquisitions. The segment provides comprehensive insights regarding the different market developmental activities adopted by the key players in the industry to compete directly. To lead the market as well as engage in the process of the overall market growth, a company needs to introduce new products to the market, improve the existing products’ framework, work in collaboration with the top market leaders, win new contracts, and acquire weak companies into its stronghold. Some of the strategies covered in this segment are new product launches, partnerships and collaborations, business expansions, mergers and acquisitions, and others.
The automotive V2X market is expected to reach $10.55 billion by 2025. The automotive V2X market valued at $5.78 million and 19.6 thousand units in 2019, in terms of value and volume and is anticipated to grow at CAGRs of 265.87% and 268.49% respectively, during the forecast period, 2020-2025.
China to Dominate the Automotive V2X Market in 2025
This report also covers the global automotive V2X market, by geography and provides the revenue of the key regions which include North America, South America, Europe, U.K., Asia-Pacific & Japan (APJ), China, and Middle East and Africa (MEA). Asia-Pacific & Japan is currently the largest region in the automotive V2X market, owing to the favorable government policies, technological advancements, extensive investments for dedicated R&D facilities, numerous testing and trail activities, and presence of major automotive manufacturers. Various government initiatives have been undertaken to promote the adoption and commercialization of V2X communication in the region, as it is expected to substantially reduce road accidents.
Key Questions Answered:
The research has been conducted to answer some of the most crucial questions about the automotive V2X market:
What will be the impact of V2X communication on the automotive industry?
What are the key factors promoting V2X connectivity across different regions?
What is the penetration of C-V2X and DSRC across different regions?
What is the penetration of V2X in light vehicles and heavy vehicles?
What are the roles and initiatives from governments, associations and consortium bolstering the V2X communication?
What is the competitive positioning of various market leaders in the automotive V2X market?
What are the key offerings of the prominent companies in the market?
What regions and countries led the automotive V2X market in 2019, and which among those are expected to witness the highest demand growth during the forecast period, 2020-2025?
What are the key drivers, challenges, and opportunities for automotive V2X market players?
Download the free sample of the Automotive V2X Market Report to know more about it:
Automotive V2X Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2019-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Automotive V2X include Qualcomm Technologies, Continental AG, Delphi Technologies, Infineon Technologies, Robert Bosch, Harman International, Denso Corporation, NXP Semiconductors, Denso Corporation, and STMicroelectronics..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Automotive V2X Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/automotive-v2x-vehicle-to-everything-market/download-sampleMarket SegmentationThe broad Automotive V2X has been sub-grouped into the Communication Type, Connectivity Type, Vehicle Type, End-User and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
