Automotive Vehicle-To-Everything (V2X) Market Size Expected to Reach USD 26.23 Billion at a CAGR of 43.7%, in 2030

Automotive Vehicle-To-Everything (V2X) Market Size – USD 997.7 Million in 2021, Market Growth – at a CAGR of 43.7%, – Rising incidence of road accidents

NEW YORK, NY, UNITED STATES, March 29, 2022 /EINPresswire.com/ -- Growing economy, rising disposable income, and rapid rate of urbanization, as well as industrialization, are driving market revenue growth

The global automotive Vehicle-To-Everything (V2X) market size is expected to reach USD 26.23 Billion in 2030 and register a revenue CAGR of 43.7% over the forecast period, according to the latest report by Reports and Data. Increasing incidence of road accidents is a key factor driving market revenue growth for automotive V2X. V2X communication helps avoid accidents by warning a driver about potential dangers that are not in line of sight of human vision. V2X decreases risks of accidents, particularly for motorcyclists and people on foot, and improves security by warning drivers in real-time about traffic situations in their respective locations.

V2X communication is the exchange of information from a vehicle to any entity affecting the vehicle, and vice versa. It is a type of communication between entities that incorporates other particular types of communication, such as V2P (vehicle-to-pedestrian), V2D (vehicle-to-device), V2I (vehicle-to-infrastructure), V2G (vehicle-to-grid), V2N (vehicle-to-network), and V2V (vehicle-to-vehicle),

Factors such as increasing disposable income, rapid rate of urbanization as well as industrialization, and growing economy are factors driving global automotive V2X market. Moreover, increasing automation and technological advancement are also expected to drive global automotive V2X market growth during the forecast period. There are many benefits for the implementation of V2X communication systems, however, they are encompassed by certain drawbacks which include the need for a robust legal system and building a secure system that ensures privacy, authenticity, and security for all types of V2X communication.

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Some Key Highlights From the Report

• In January 2021, EMnify, which is a Germany-based leading cloud communication platform provider for IoT, enabled smart V2X communication and traffic telematics studies at TU Dresden. Their goal is in accumulating and sending environmental, traffic, and vehicle information to the university research data center from a vehicle fleet for usage in information-collecting devices. The final aim is post-processing these records for uncovering new applications and valuable insights.
• Cellular Connectivity (C-V2X) segment revenue is expected to register a steady growth rate during the forecast period. It allows for interaction between numerous automotive and road transport services such as regulated Cooperative Intelligent Transport Systems (C-ITS), Advanced Driver Assistance Systems (ADAS), connected road infrastructure services, vehicle-centric OEM telematics and aftermarket services, fleet management and logistics services, and convenience and high-quality infotainment services.
• Automated driver assistance segment accounted for a significantly large revenue share in 2021 owing to various features it provides such as road departure warning, lane departure warning, obstacle detection, intersection collision warning, forward collision warning, lane change assistance, rollover warning, rear impact warning, and safety margin for assistance vehicles, safeguarding the lives of the people on-car and the pedestrians.
• The V2V communication segment accounted for largest revenue share in 2021. V2V improves vehicle security through various benefits such as Forward-collision Warning (FCW) and Lane-changing Warning (LCW). Increase in concerns regarding safety among various governments due to increasing traffic accidents is an important factor driving growth of the segment.
• Market in North America is expected to register a steady growth rate during the forecast period. Better infrastructure, few budget constraints owing to the region’s high disposable income, favorable government policies, and regulations for an effective transportation system are all factors driving the market revenue growth. Moreover, North America is a hub for V2X technology manufacturers which is driving the market revenue growth.
• Companies profiled in the global market report include Aptiv, Continental AG, Infineon Technologies AG, Qualcomm Technologies Inc., Toyota Motor Corporation, Autotalks, Huawei Technologies Co., Ltd., Denso Corporation, Robert Bosch GmbH, and General Motors.

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 For the purpose of this report, Reports and Data has segmented the automotive V2X market based on vehicle type, communication type, technology type, offering type, propulsion type, application, and region:

Vehicle Type Outlook (Revenue, USD Billion; 2019–2030)

• Commercial
• Passenger

Communication Type Outlook (Revenue, USD Billion; 2019–2030)

• Vehicle-To-Cloud (V2C)
• Vehicle-To-Pedestrian (V2P)
• Vehicle-To-Grid (V2G)
• Vehicle-To-Infrastructure (V2I)
• Vehicle-To-Vehicle (V2V)
• Vehicle-To-Device (V2D)
• Vehicle-To-Network (V2N)
• Vehicle-To-Home (V2H)

Technology Type Outlook (Revenue, USD Billion; 2019–2030)

• Dedicated Short Range Communication
• Cellular Connectivity (C-V2X)
• Others

Offering Type Outlook (Revenue, USD Billion; 2019–2030)

• Software
• Hardware

V2V Hardware
 GPS Antenna
 GPS Module
 Ethernet Port
 CPU
 Others

V2I Hardware
 GPS Antenna
 GPS Module
 Ethernet Port
 CPU
 Others

V2P Hardware
 GPS Antenna
 GPS Module
 Ethernet Port
 CPU
 Others

V2G Hardware
 Power Control System (PCS)
 Others

Propulsion Type Outlook (Revenue, USD Billion; 2019–2030)

• Electric Vehicle (EV)
• Internal Combustion Engine (ICE) Vehicle

Application Outlook (Revenue, USD Billion; 2019–2030)

• Automated Driver Assistance
• Intelligent Traffic System
• Emergency Vehicle Notification
• Passenger Information System
• Fleet & Asset Management
• Parking Management System
• Line of Sight
• Non-Line of Sight
• Predictive Maintenance
• Remote Monitoring and Diagnostics
• Backing

Regional Outlook (Revenue, USD Billion; 2019–2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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