The global V2X Communication Market is estimated to be valued at US$2.6 billion in 2023 and is expected to exhibit a CAGR of 39.7% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
V2X communication refers to vehicle-to-everything communication, which enables vehicles to communicate with other vehicles, infrastructure, pedestrians, and other surroundings. It facilitates real-time exchange of information, enhancing road safety and providing intelligent transportation systems. The V2X communication system offers numerous advantages such as improved traffic efficiency, reduced traffic congestion, enhanced road safety, and increased driver convenience. The increasing demand for connected vehicles and government initiatives to deploy intelligent transportation systems are driving the growth of the V2X Communication Market.
Market Key Trends:
One of the key trends in the V2X Communication Market is the adoption of connected infrastructure. Connected infrastructure includes smart traffic signals, roadside units, and other infrastructure components that are integrated with V2X communication technology. This enables efficient traffic management, real-time traffic updates, and improved overall transportation system performance. With connected infrastructure, vehicles can receive timely information about traffic conditions, road hazards, and other relevant data, allowing drivers to make informed decisions and avoid accidents. The integration of V2X communication with connected infrastructure is expected to revolutionize the transportation industry, leading to safer and more efficient roadways.
Key players in the V2X Communication Market include Delphi Automotive Plc, Aptiv PLC, Autotalks Ltd., Continental AG, Qualcomm Inc, Infineon Technologies A., Robert Bosch GmbH, Harman International Industries Inc., Cisco Systems Inc., Infineon Technologies AG, Mobileye NV, Marben Products, Sasken Technologies Ltd, Siemens Mobility GmbH, and Denso Corporation.
PEST Analysis:
· Political: The political landscape plays a crucial role in the V2X communication market. Government regulations and policies regarding road safety, traffic management, and infrastructure development impact the adoption of V2X technologies. For instance, governments worldwide are increasingly focusing on reducing road accidents and improving transportation efficiency, leading to the implementation of regulations favoring V2X communication systems.
· Economic: The V2X communication market is expected to witness significant growth due to economic factors such as increasing urbanization, population growth, and rising vehicle ownership. As economies develop and disposable incomes increase, there is a higher demand for advanced safety features in vehicles, driving the adoption of V2X technologies. Furthermore, the economic potential of smart cities and connected vehicles also plays a vital role in driving market growth.
· Social: Societal factors, including the increasing awareness of road safety and the need for efficient transportation systems, are driving the adoption of V2X communication. The growing concern for pedestrian and cyclist safety, along with the demand for safer and more connected vehicles, is fueling the market's growth. Moreover, the rising popularity of autonomous vehicles and the shift towards greener transportation are also shaping the social landscape for V2X communication.
· Technological: Advancements in technology, such as the development of 5G networks, artificial intelligence, and IoT, have a significant impact on the V2X communication market. These technological advancements enable faster and more reliable communication between vehicles and infrastructure, enhancing road safety and traffic management. Additionally, the integration of V2X communication with other emerging technologies, such as edge computing and cloud platforms, further augments the market's growth potential.
Key Takeaways:
The Global V2X Communication Market Demand is expected to witness high growth, exhibiting a CAGR of 39.7% from 2023 to 2030. This growth is primarily driven by the increasing focus of governments on road safety and the need for efficient transportation systems.
Regionally, North America is expected to be the fastest-growing and dominating region in the V2X communication market. The presence of key market players, advancements in technology, and supportive government initiatives contribute to the region's growth. Additionally, the steady adoption of connected vehicles and the presence of a well-established automotive industry further boost market growth in North America.
Key players operating in the V2X communication market include Delphi Automotive Plc, Aptiv PLC, Autotalks Ltd., Continental AG, Qualcomm Inc, Infineon Technologies A., Robert Bosch GmbH, Harman International Industries Inc., Cisco Systems Inc., Infineon Technologies AG, Mobileye NV, Marben Products, Sasken Technologies Ltd, Siemens Mobility GmbH, and Denso Corporation. These companies are actively involved in research and development activities, collaborations, and strategic partnerships to gain a competitive edge in the market.
Read More - https://www.marketwebjournal.com/v2x-communication-market-trends-forecasts-analysis-growth-size-and-share/
In the Report “DSRC Technology Market: By technical specification (Technology, Electromagnetic Spectrum, Standards); By Transceiver (OBU, RSU); By Vehicle Types (Passenger, Commercial); By Frequency (5.8 GHz, 5.9GHz); By Application (Mobility, Safety, Toll) & By Geography - Forecast (2018-2023)” published by IndustryARC, the market is driven by the improving traditional surgical process that has reduced the complication rates in surgeries and shortened surgical time period.Asia-Pacific dominates with major share and growth in the DSRC Technology Market:Asia-Pacific is the leading market for DSCR Technology market for the forecast period of 2018-2023.
The Asia-Pacific market is expected to register a value of $70150.80thousand in 2023.
In several years, DSRC Transceivers & Chipset suppliers had collaborated in the market to retain the opportunities emerging with on-going development of V2V market ecosystem.DSRC Technology Market report is segmented as below:A.
DSRC Technology Market by Geography (covers 10+ countries) G. DSRC Technology Entropy MarketH.
Does IndustryARC provide customized reports and charge additionally for limited customization?Response:Yes, we can customize the report by extracting data from our database of reports and annual subscription databases.
Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets.
According to the new market research report "Top 10 Mobility Technologies Market by Technology (Bluetooth, Wearable Technology, Mobile Augmented Reality, Wireless Gigabit, Cellular IoT, Mobile Biometric, Automotive V2X, Wireless Charging For Consumer Electronics) & Geography - Global Forecast to 2022", the market is expected to grow at a significant rate between 2016 and 2022.
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The launch of new spectrums (frequency bands) and increasing penetration of wireless connectivity in the emerging economies are fueling the growth of the market for wireless gigabit.
The rising demand for real-time traffic and incident alerts for increasing public safety contributes to the growth of the automotive V2X market.Get PDF Brochure: https://www.marketsandmarkets.com/requestsampleNew.asp?id=87804126Land mobile radio systems are gaining traction with the increasing population in urban areas and the expansion of the size and scope of public safety missions and requirements, resulting in a greater demand for the public safety spectrum to meet communication needs.
Today, trunked LMR systems are common in the public safety arena because of their efficiency, as well as other advantages, including fast system access, enhanced feature sets, channel efficiency, security, and flexibility.
The growth in this market is propelled by factors such as the increasing demand for inexpensive and reliable land mobile radios, growing significance of efficient critical communication operations, application of LMRs in diverse industries, and transition of communication devices from analog to digital.The rising instances of security breaches and terrorist activities, rising crime rates, and increasing threats to public and private property as well as educational institutions have intensified the awareness about security.
