Global Automotive Vehicle-to-Everything (V2X) Markets, 2020-2021 & 2022-2026 - IoT to Expand V2X Application Areas

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Mar 16, 2022, 18:45 ET

DUBLIN, March 16, 2022 /PRNewswire/ -- The "Automotive Vehicle-to-Everything (V2X) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Automotive Vehicle-to-Everything (V2X) Market to Reach $3.1 Billion by 2026

The global market for Automotive Vehicle-to-Everything (V2X) estimated at US$461.7 Million in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2026, growing at a CAGR of 37.9% over the analysis period. Software, one of the segments analyzed in the report, is projected to grow at a 41.9% CAGR to reach US$3.4 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hardware segment is readjusted to a revised 28.9% CAGR for the next 7-year period. This segment currently accounts for a 37.3% share of the global Automotive Vehicle-to-Everything (V2X) market.

Growth in the global market is set to be fueled by increasing focus on efficient traffic management and automobile safety. The increasing number of cars on road and the resulting congestion has prompted various governments to implement automotive V2X solutions to reduce fuel wastage and reduce carbon emissions.

Rising environmental concerns and the need for real-time traffic flow alerts are expected to drive the demand for automotive V2X technology. Other factors spurring growth include macroeconomic scenario, rising incomes, rapid urbanization & industrialization, increasing automation and technological advances.

The U.S. Market is Estimated at $156.7 Million in 2021, While China is Forecast to Reach $529.4 Million by 2026

The Automotive Vehicle-to-Everything (V2X) market in the U.S. is estimated at US$156.7 Million in the year 2021. The country currently accounts for a 27.96% share in the global market.

China, the world`s second largest economy, is forecast to reach an estimated market size of US$529.4 Million in the year 2026 trailing a CAGR of 48.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 27% and 34.8% respectively over the analysis period.

Within Europe, Germany is forecast to grow at approximately 32.2% CAGR while Rest of European market (as defined in the study) will reach US$780.3 Million by the end of the analysis period. Growth in European market is bound to gain from stringent safety norms encompassing features like blind-spot detection and adaptive cruise control. The heavy reliance of these technologies on V2V communication is expected to facilitate expansion of the market.

The regional market is slated to benefits from the collaboration of major companies including Ford, BMW, Groupe PSA and 5GAA with Savari and Qualcomm to demonstrate C-V2X communications in countries like Germany and France.

The North American market is buoyed by implementation of sophisticated technologies in countries including the US and Canada. The region is a major automotive market, and accounts for a huge global automobile population playing on roads.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Impact of Covid-19 and a Looming Global Recession
The Many Facets of COVID-19 Impact on Autonomous Cars
Reluctance to Use Shared Mobility Will Persist Even in the Post Pandemic World. The Darkening Outlook for "Shared Mobility" is a Business Opportunity for Self-Driving Cars & Taxis
With High Double Digit Growth for V2X, We Are Not Very Far from the Autonomous Driving Reality
V2X, the Vital Connectivity Link Crucial for Delivering On the Promise of Fully Autonomous Driving: Network Speeds Needed to Support Big Data of Autonomous Cars
Automotive Vehicle-to-Everything (V2X): A Cornerstone Technology for Vehicle Safety & Traffic Efficiency
Brief Note on Underlying Technology
Regulatory Regimes in the US and Europe
Global Automotive V2X Market to Move Ahead Swiftly in Top Gear
Critical Need to Avoid Accidents Buoys Demand for Automotive V2X Technology
Analysis by Connectivity: Strong Gains for Cellular Segment Foreseen
Regional Analysis: Europe Becomes the Central Market for Automotive Vehicle-to-Everything
Competitive Scenario
Recent Market Activity
Select Innovations

2. FOCUS ON SELECT PLAYERS (Total 46 Featured)

Autotalks Ltd.
BMW Group
Cisco Systems, Inc.
Cohda Wireless Pty Ltd.
Continental AG
General Motors Company
Harman International
Infineon Technologies
Kapsch TrafficCom AG
NXP Semiconductors
Qualcomm Technologies, Inc.
Robert Bosch GMBH
Savari Inc.
STMicroelectronics
Toyota Motor Corporation
Volkswagen AG

3. MARKET TRENDS & DRIVERS

V2X Technology Alleviates Traffic Concerns
Smart Cities Poised to Drive Demand
Focus on Smart Highway to Enhance V2X Deployments
The Growing Need to Bridge Infrastructure Gap Which is the Highest for Roadways Promises Robust Opportunity for Smart Highways
Smart Roads Embedded with Sensors Support V2X Uptake
Growing Investments in Road Infrastructure Development
Continuous Development of World's Highways to Expand Market Opportunities for Intelligent Transportation Systems (ITS) & Allied Markets
Connected Cars Pave the Way for Wider Uptake
Growing Role of Automotive Ethernet Augments Prospects
V2X Becomes Relevant in Electronic Toll Collection
V2X Empowers Smart Parking Strategies
Emphasis on Electric Vehicles to Fuel Demand
V2X Technology Improves Vehicle Telematics
IoT to Expand V2X Application Areas
Importance of Wireless Communication in ITS Networks Augurs Well
V2X Gains Traction in Traffic Control Strategies
Breakdown of Annual Hours of Delay Due to Traffic Congestions in Select Countries & Cities Worldwide
On-Road Safety Drives Business Case for V2X
Convergence of Mobile Communications with Transport Infrastructure Bodes Well
5G to Accelerate the Role of Cellular Connectivity in Transportation Sector
V2X to Gain from Advanced In-Car Infotainment Systems
Potential Threat of Cyber Attacks

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/5w9ffj

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SOURCE Research and Markets