Automotive Vehicle to Everything (V2X) Market

Introduction of the Automotive Vehicle-to-Everything (V2X) Market Report

Vehicle-to-everything (V2X) is a communication technology that allows a vehicle to communicate with other vehicles, infrastructure, and road users. The primary focus of V2X technology is to improve road safety, energy savings, and traffic efficiency on roads. These technological advancements have challenged automotive makers to incorporate automotive V2X solutions that will offer enhanced safety, utility, and convenience to their customers.

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Market Dynamic

Key Drivers and Emerging Trends

Rising sales of the passenger, as well as commercial vehicles all over the globe, contribute considerably to drive the Automotive V2X Market. Increasing traffic obstruction, greenhouse gas emission, an increasing number of accidents have forced governments of various regions to impose strict safety and emission norms. V2X technology helps the driver to enhance the safety of the vehicle as well as lower downs the greenhouse gas emission from the vehicle, thereby surging the demand for the technology in the upcoming years. In addition, V2X technology offers features to achieve driverless mobility, which will help to boost the Automotive V2X market size during the forecast period.

Impact of COVID-19 on the Automotive Vehicle-to-Everything (V2X) Market

The novel Coronavirus outbreak has negatively impacted the automotive industry. Due to the lockdown imposed, manufacturing units across the globe had to halt their production, which is likely to impact the purchase of vehicles installed with vehicle-to-everything (V2X) features. The COVID-19 pandemic is creating uncertainty in the market, interruption of the supply chain, a decline in businesses, and an increase in panic among customer segments. Governments of different regions had announced total lockdown and temporarily shutdown of industries, which have affected the overall production and sales adversely. Therefore, the spread of the COVID-19 pandemic has negatively impacted the global automotive V2X market.

Restraint in the Automotive Vehicle-to-Everything (V2X) Market

However, increasing incidents of cyber threats such as hacking and manipulation are major restraining factors hindering the growth of the global Automotive V2X Market.

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Communication – Segment Analysis

Based on the Communication, the Vehicle-to-Vehicle (V2V) segment is expected to grow at a higher CAGR during the forecast period. V2V enhances vehicle safety through facilities like forward collision warning (FCW) and lane changing warning (LCW). The rising safety concerns among the public and government dues to increasing numbers of traffic accidents is a vital driving factor for the growth of the automotive V2V market. The vehicle models installed with V2V technology are Cadillac CTS and Mercedes-Benz E-Class, among others.

Connectivity – Segment Analysis

Based on the Connectivity, the Cellular segment is expected to grow at a higher CAGR during the forecast period. The 5G technology advancements would enable the applications of 5G-V2X that are expected to provide improved performance in terms of cybersecurity and to manage a large number of messages in congested traffic environments. Another factor that would drive the growth of the cellular segment is the cost aligned with hardware components. The DSRC segment, to perform V2P communication, needs additional hardware components, which makes it costly as compared to C-V2X. In 2019, Audi, Ducati, and Ford demonstrated C-V2X technologies. Such developments would surge the commercial deployment of C-V2X technology.

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Regional – Segment Analysis:

Based on the region, the North-America region is projected to dominate the market during the forecast period. The segment growth can be attributed owing to the presence of technologically advanced countries like the U.S. and Canada, along with ease of technology adoption in the region are some of the key factors that drive the market growth. Furthermore, the region experience rising threat from greenhouse gases emission and traffic congestion that trigger the installation of various communication technologies within the vehicle to help the driver in different ways while driving. Subsequently, the communication technology embraces vehicle safety, minimizes greenhouse gas, and also minimizes traffic congestion. Hence, the aforementioned factors significantly expands the growth of the Automotive V2X market share in the region.

Top Market Players

Various notable players operating in the market include Continental AG, Qualcomm Technologies, Inc., Robert Bosch GmbH, NXP Semiconductors, TomTom International BV, Cisco Systems, Inc., Infineon Technologies AG, Autotalks Ltd., BorgWarner Inc., HARMAN International, among others. 

Key Developments:

• • In 2021, Continental AG won a serial order from a leading European commercial vehicle manufacturer to install its vehicles with the 5G V2X telematics platform. It enables data exchange for classic telematics usage scenarios, plus super-fast connectivity for real-time-based applications.
  • In 2021, Qualcomm Technologies, Inc. collaborated with Jacobs and Peachtree Corners to deploy end-to-end smart systems in one of the nation’s first smart cities along with real-world connected vehicle technology and infrastructure. As a part of the collaboration, Qualcomm Technologies will serve as an ecosystem enabler by providing technology solutions.
  • In 2019, NXP Semiconductors launched its RoadLINK V2X (vehicle to everything) communication solution in the new Volkswagen Golf. The eighth-generation Golf is the first volume European car model installed with V2X, driving a major boost to the adoption of the technology on European roads and beyond.

Segments covered in the Report:

The global Automotive Vehicle-to-Everything (V2X) market has been segmented on the basis of Offering, Communication, Propulsion, Connectivity, Technology, Vehicle Type, Unit Type and regions. Based on Offering, the market is segmented into Hardware and Software. Based on Communication, the market is segmented into Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Grid (V2G), Vehicle-to-Cloud (V2C) and Vehicle-to Device (V2D). Based on Propulsion, the market is segmented into ICE and EV. Based on Connectivity the market is segmented into Cellular and DRSC. Based on Technology, the market is segmented into Automated driver assistance, Intelligent traffic systems, Emergency vehicle notification, Passenger information system, Fleet & asset management, Parking management system, Line of sight, Non-line of sight, Backing and Others. Based on Vehicle Type, the market is segmented into Passenger car and Commercial vehicle. Based on Unit Type, the market is segmented into On-Board Unit and Roadside Unit. 

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Key questions answered in this research report:

• • At what pace is global Automotive Vehicle-to-Everything (V2X) market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Automotive Vehicle-to-Everything (V2X) market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Automotive Vehicle-to-Everything (V2X) market?
  • Which Offering generated maximum revenues in 2020 and identify the most promising Offering during the forecast period?
  • What are the various Communication areas of global Automotive Vehicle-to-Everything (V2X) market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Offering, By Communication, By Propulsion, By Connectivity, By Technology, By Vehicle Type, By Unit Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Continental AG, Qualcomm Technologies, Inc., Robert Bosch GmbH, NXP Semiconductors, TomTom International BV, Cisco Systems, Inc., Infineon Technologies AG, Autotalks Ltd., BorgWarner Inc., HARMAN International, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Automotive Vehicle-to-Everything (V2X) Market by Offering

• • Hardware
  • Software

Global Automotive Vehicle-to-Everything (V2X) Market by Communication

• • Vehicle-to-Vehicle (V2V)
  • Vehicle-to-Infrastructure (V2I)
  • Vehicle-to-Pedestrian (V2P)
  • Vehicle-to-Grid (V2G)
  • Vehicle-to-Cloud (V2C)
  • Vehicle-to Device (V2D).

Global Automotive Vehicle-to-Everything (V2X) Market by Propulsion

• • ICE
  • EV

Global Automotive Vehicle-to-Everything (V2X) Market by Connectivity

• • Cellular
  • DRSC

Global Automotive Vehicle-to-Everything (V2X) Market by Technology

• • Automated driver assistance
  • Intelligent traffic systems
  • Emergency vehicle notification
  • Passenger information system
  • Fleet & asset management
  • Parking management system
  • Line of sight
  • Non-line of sight
  • Backing
  • Others

Global Automotive Vehicle-to-Everything (V2X) Market by Vehicle Type

• • Passenger car
  • Commercial vehicle

Global Automotive Vehicle-to-Everything (V2X) Market by Unit Type

• • On-Board Unit
  • Roadside Unit

Global Automotive Vehicle-to-Everything (V2X) Market by Region

• • North America Automotive Vehicle-to-Everything (V2X) Market (Option 1: As a part of the free 25% customization)
    • North America Automotive Vehicle-to-Everything (V2X) Market by Offering
    • North America Automotive Vehicle-to-Everything (V2X) Market by Communication
    • North America Automotive Vehicle-to-Everything (V2X) Market by Propulsion
    • North America Automotive Vehicle-to-Everything (V2X) Market by Connectivity
    • North America Automotive Vehicle-to-Everything (V2X) Market by Technology
    • North America Automotive Vehicle-to-Everything (V2X) Market by Vehicle Type
    • North America Automotive Vehicle-to-Everything (V2X) Market by Unit Type
    • US Automotive Vehicle-to-Everything (V2X) Market All-Up
    • Canada Automotive Vehicle-to-Everything (V2X) Market All-Up
  • Europe Automotive Vehicle-to-Everything (V2X) Market (Option 2: As a part of the free 25% customization)
    • Europe Automotive Vehicle-to-Everything (V2X) Market by Offering
    • Europe Automotive Vehicle-to-Everything (V2X) Market by Communication
    • Europe Automotive Vehicle-to-Everything (V2X) Market by Propulsion
    • Europe Automotive Vehicle-to-Everything (V2X) Market by Connectivity
    • Europe Automotive Vehicle-to-Everything (V2X) Market by Technology
    • Europe Automotive Vehicle-to-Everything (V2X) Market by Vehicle Type
    • Europe Automotive Vehicle-to-Everything (V2X) Market by Unit Type
    • UK Automotive Vehicle-to-Everything (V2X) Market All-Up
    • Germany Automotive Vehicle-to-Everything (V2X) Market All-Up
    • France Automotive Vehicle-to-Everything (V2X) Market All-Up
    • Spain Automotive Vehicle-to-Everything (V2X) Market All-Up
    • Rest of Europe Automotive Vehicle-to-Everything (V2X) Market All-Up
  • Asia-Pacific Automotive Vehicle-to-Everything (V2X) Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Automotive Vehicle-to-Everything (V2X) Market by Offering
    • Asia-Pacific Automotive Vehicle-to-Everything (V2X) Market by Communication
    • Asia-Pacific Automotive Vehicle-to-Everything (V2X) Market by Propulsion
    • Asia-Pacific Automotive Vehicle-to-Everything (V2X) Market by Connectivity
    • Asia-Pacific Automotive Vehicle-to-Everything (V2X) Market by Technology
    • Asia-Pacific Automotive Vehicle-to-Everything (V2X) Market by Vehicle Type
    • Asia-Pacific Automotive Vehicle-to-Everything (V2X) Market by Unit Type
    • China Automotive Vehicle-to-Everything (V2X) Market All-Up
    • India Automotive Vehicle-to-Everything (V2X) Market All-Up
    • Japan Automotive Vehicle-to-Everything (V2X) Market All-Up
    • Rest of APAC Automotive Vehicle-to-Everything (V2X) Market All-Up
  • RoW Automotive Vehicle-to-Everything (V2X) Market (Option 4: As a part of the free 25% customization)
    • RoW Automotive Vehicle-to-Everything (V2X) Market by Offering
    • RoW Automotive Vehicle-to-Everything (V2X) Market by Communication
    • RoW Automotive Vehicle-to-Everything (V2X) Market by Propulsion
    • RoW Automotive Vehicle-to-Everything (V2X) Market by Connectivity
    • RoW Automotive Vehicle-to-Everything (V2X) Market by Technology
    • RoW Automotive Vehicle-to-Everything (V2X) Market by Vehicle Type
    • RoW Automotive Vehicle-to-Everything (V2X) Market by Unit Type
    • Brazil Automotive Vehicle-to-Everything (V2X) Market All-Up
    • South Africa Automotive Vehicle-to-Everything (V2X) Market All-Up
    • Saudi Arabia Automotive Vehicle-to-Everything (V2X) Market All-Up
    • UAE Automotive Vehicle-to-Everything (V2X) Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Automotive Vehicle-to-Everything (V2X) Market All-Up

Major Players Operating in the Automotive Vehicle-to-Everything (V2X) (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Continental AG
  • Qualcomm Technologies, Inc.
  • Robert Bosch GmbH
  • NXP Semiconductors
  • TomTom International BV
  • Cisco Systems, Inc.
  • Infineon Technologies AG
  • Autotalks Ltd.
  • BorgWarner Inc.
  • HARMAN International