The global Automotive V2X Market size is expected to reach US$ 12.93 billion by 2027 and is expected to grow at an impressive double-digit rate of 43.7% from 2020 to 2027.
The study includes drivers and restraints of this market. The study provides an analysis of the global Automotive V2X Market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2020 is considered as the base year.
Why should you invest in this report?
If you are aiming to enter the global Automotive V2X Market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Automotive V2X are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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Growth Factors
Increasing sales of passenger as well as commercial vehicles across the globe contribute significantly to drive the market. Increasing traffic congestion, greenhouse gas emission rising number of accidents have forced governments of various regions to impose stringent safety and emission norms. V2X technology helps driver to improve safety of the vehicle as well as it reduces the greenhouse gas emission from the vehicle, thereby accelerating the demand of the technology in the coming years. Furthermore, the concept of driverless cars and autonomous vehicles are still under their research phase and expected to take years to be commercialized. In addition, V2X technology helps to achieve driverless mobility, thus again propels the growth of the technology over the analysis period. Besides the benefits of V2X technology, they are largely subject to cyber threats such as hacking and manipulation; this hampers the market growth in the near future.
Report Highlights
- In 2019, North America led the global automotive V2X market with significant revenue share in the year 2019. Ease of technology adoption along with the region being one of the largest markets for automobile are some of the prime factors that drives the growth of the region. In addition, greenhouse emission and traffic congestion are some of the crucial problems that can be overcome significantly with the implementation of V2X systems.
- Europe is the other major region that contributes prominently towards the revenue share. Stringent emissions as well as safety norms in the region are the major factors that drive the regional market. In addition, the region registered prominent growth in battery-powered vehicles that again influence the V2X communication market growth positively over the coming years.
- Based on vehicle type, passenger vehicles accounted for the largest market value share of nearly 75% in the year 2019 and analyzed to continue its dominance during the forecast period. However, increasing demand for commercial vehicles due to boom in the commercial sector flourishes the growth of commercial vehicles in the near future.
- By communication type, Vehicle-To-Vehicle (V2V) projected to dominate the global automotive V2X market during the forecast period. Increasing safety regulations have spur the adoption of various types of communication technologies in a vehicle such as Adaptive Cruise Control (ACC), driver assistance system, lane change assistance, blind spot detection, and many more. This expected to significantly drive the demand for V2V communication.
- Based on connectivity type, Dedicated Short Range Connectivity (DSRC) seeks to capture maximum revenue share in the present as well as during the forecast period. Ease of implementation along with cost benefits of DSRC over the cellular connectivity expected to drive the growth of the segment.
Major Market Segments Covered:
By Communication Type
- Vehicle-To-Infrastructure (V2I)
- Vehicle-To-Grid (V2G)
- Vehicle-To-Vehicle (V2V)
- Vehicle-To-Home (V2H)
- Vehicle-To-Pedestrian (V2P)
- Vehicle-To-Network (V2N)
By Vehicle Type
- Commercial Vehicles (CV)
- Passenger Cars
By Connectivity Type
- Cellular Connectivity
- DSRC
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Key Market Players and Strategies
- Continental AG
- Delphi Automotive LLP
- NXP Semiconductors
- TomTom International B.V.
- Qualcomm, Inc.
- Robert Bosch GmbH
- HARMAN International
- Cisco Systems, Inc.
- Mobileye
- Infineon Technologies AG
Regional Analysis:
The geographical analysis of the global Automotive V2X Market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global Automotive V2X Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global Automotive V2X Market in 2027?
- What is the expected CAGR for the Automotive V2X Market between 2020 and 2027?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global Automotive V2X Market?
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