Automotive V2X Market Analysis & Forecast 2024-2030

Global Automotive V2X Market is expected to reach USD 77115.49 million by 2030 with CAGR of 18.74% between 2024 and 2030

Vehicle to everything (V2X) is a technology that helps rise road safety by means of advanced technological enhancements in automotive electronics. V2X is based on the concept of intelligent transport system (ITS) and helps in efficient traffic management. V2X technology enables a vehicle to communicate with the neighbouring vehicles, any obstacles such as pedestrian, infrastructure, and even with a vehicle out of sight or any other elements in a traffic-congested area. The rapidly growing automotive sector across the world is likely to drive the automotive V2X market during the forecast period.  

Vehicles operating with some degree of automation that are running alongside each other are likely to lead to accidents if the vehicles are not able to detect a human-driven vehicle crossing it. Thus, the rising demand for semi-autonomous vehicles that are equipped with advanced driver assistance systems (ADAS) and the increasing efforts by OEMs (original equipment manufacturers) to develop autonomous vehicles at the earliest is anticipated to further propel the automotive V2X market in the near future. Increasing number of road accidents is fuelling the need for increased public safety and rising government support for improving traffic management is expected to further boost the automotive V2X market in the next few years.  

V2X technology also aids in avoiding traffic congestion and thus, helps reduce excessive fuel consumption and vehicular emissions. Technological improvements in the field of automotive electronics such as cloud technology are being used for vehicle platooning. This is likely to fuel the automotive V2X market during the forecast timeframe. The software and hardware services related with automotive V2X technology are much costly and therefore, key manufacturers are facing an issue of cost decrease while implementing vehicle-to-vehicle connectivity. This is expected to restrain the automotive V2X market to some amount during the forecast period.  

By product type, the global automotive V2X market can be segmented into V2V (vehicle-to-vehicle), V2I (vehicle-to-infrastructure), V2P (vehicle-to-pedestrian), V2C (vehicle-to-cloud), V2D (vehicle-to-device), V2G (vehicle-to-grid), and V2M (vehicle-to-motorist). The V2C communication is expected to hold the largest share of the V2X market. Vehicle-to-cloud (V2C) communication is expected to play a pivotal role in connected and autonomous vehicle applications. Various systems and applications of such vehicles will be offered in the cloud from where they will control the entire operations of a vehicle. This widens the scope for the growth of the V2C segment. V2V, V2I, and V2P segments are anticipated to expand at a rapid pace owing to the increasing awareness about public safety and security among governments of various nations across the world.  

On application side, the global automotive V2X market can be divide into Passenger Vehicle and Commercial Vehicle. Among these, the passenger segment is growing at a substantial value CAGR in global automotive vehicle-to-everything (V2X) market whereas commercial segment accounts for relatively high revenue share the forecast period. V2X technology allows passenger and commercial vehicles communicate with each other, making driving safer and efficient for everyone. V2X warns the driver of road hazards, reducing the traffic fatalities and injuries along with the understanding and optimization of traffic flow, reducing the traffic congestion, and the transportation impacts on the environment.  

Geographically, The V2X market is currently booming in the Asia Pacific region. Rapidly rising vehicle production in this region is one of the primary driving factors. Improving infrastructure in this region joined with improving living standards have positively impacted the automotive industry as a whole. Increasing incidence of vehicle electrification in the Asia Pacific region is also expected to impact the V2X market positively. Availability of cheap labour in Asia Pacific has also been a critical factor in the V2X market. Additionally, rapidly growing automotive infrastructure in this region is expected to lay the groundwork for the rapid development of the automotive sector.  

North America and Europe are the two other leading regions, essentially, due to the established automotive industry. The existence of major manufacturers in this region, is also a key driver for the V2X industry. Massive investment in research and development enables manufacturers in this region to develop new techniques and products to tap capitalizing on the future market trends. The automotive industry in the Middle East and South America is at a nascent stage. The market for V2X is likely to have steady growth during the forecast timeframe. These regions are expected to be lucrative in the future with many automotive manufacturers pumping investments to capitalize on the sufficient demand in these regions.  

Some of the major players in global automotive V2X market include Delphi Automotive PLC, Continental AG, Infineon Technologies AG, Arada Systems, Qualcomm Inc., Cohda Wireless Pty, Denso Corporation, AutoTalks Ltd., eTrans Systems, Volkswagen AG, Toyota Motor Corporation, General Motors Company, Daimler AG, and BMW Group. These players are progressively undertaking mergers and acquisitions, and product launches to develop and present new technologies and products in the market.  

Global Automotive V2X Market: Product Type

• V2V (vehicle-to-vehicle)
• V2I (vehicle-to-infrastructure)
• V2P (vehicle-to-pedestrian)
• V2C (vehicle-to-cloud)
• V2D (vehicle-to-device)
• V2G (vehicle-to-grid)
• V2M (vehicle-to-motorist)

Global Automotive V2X Market: Application

• Passenger Vehicle
• Commercial Vehicle

Global Automotive V2X Market: Competitive Analysis

Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Global Automotive V2X Market:

• Delphi Automotive PLC
• Continental AG
• Infineon Technologies AG
• Arada Systems
• Qualcomm Inc.
• Cohda Wireless Pty
• Denso Corporation
• AutoTalks Ltd.
• eTrans Systems
• Volkswagen AG
• Toyota Motor Corporation
• General Motors Company
• Daimler AG
• BMW Group

Geographical analysis of Global Automotive V2X Market:

• North America
  • U.S.A.
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Automotive V2X Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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