The Global Automotive Over-The-Air (OTA) Market is estimated to be USD 3.95 Bn in 2023 and is expected to reach USD 9.51 Bn by 2028, growing at a CAGR of 19.20%.Increased Electric Vehicles (Ev) Sales is Driving the Market
Driver: Advances in Connected Car Technology and Expanding Partnerships - Major Automakers are Investing in R&D for Vehicle Connectivity and Autonomous Driving, with Partnerships and Innovations Driving Growth in the V2X Technology Sector.
Restraint: Lack of Infrastructure - Poor network connectivity, particularly on highways in developing countries, presents barriers to adopting V2X technology and raises questions about net neutrality and related regulatory issues.
Opportunity: Government Support for V2X Technology - Governments around the world, including the US and the EU, are actively supporting V2X technology through initiatives and programs, stimulating market growth.
Challenge: Vulnerability to Cyberattacks - V2X technology is vulnerable to cyberattacks that could affect functionality, forcing the deployment of 5G technology for improved security and dependability and upgraded security measures.
Market Segmentations
The Global Vehicle-to-Everything (V2X) Communication Market is segmented based on Offering, Communication, Level of Propulsion, Connectivity, Technology, and Geography.According to connectivity, cellular is anticipated to experience the quickest growth during the projection period. Because of its higher effectiveness and mobility safety, cellular vehicle-to-everything (C-V2X) is one of the cutting-edge technologies that has recently attracted attention on a global scale. It is an advanced wireless technology that allows cars to stay connected while driving and communicate with almost everything around them, including other cars (V2V), people on the street (V2P), infrastructure along the road (V2I), networks (V2N), and the cloud (V2C). Better security and real-time & low-latency communications are two of C-V2X's main benefits. The development of 5G technology would increase transmission quality and speed. The capability for short-and long-range transmission among automobiles and other connected devices is another important aspect of C-V2X. China keeps putting a lot of effort into developing C-V2X technology. By 2025, the nation anticipates that over 50% of new automobiles will be equipped with C-V2X.
Over the projection period, On-board Units are anticipated to represent the largest market. During the forecast period, onboard units (OBUs) are expected to have the biggest unit volume. OBU is a transceiver that may be used as a portable device attached to the vehicle. The portable unit is a transmitter with radiating elements situated 20 cm away from the user. Whether the vehicle is moving or not, an OBU is in operation. The RSUs and other OBUs can communicate with an OBU. The OBU receives radio frequency channels and competes for time to transmit one or more of them. The OBU segment in the automotive V2X market will be driven by the availability of safety features for V2X throughout the forecast period.
'During the forecast period, Asia Pacific is anticipated to be the largest market.'Asia-Pacific is home to developing nations like Japan and South Korea and burgeoning nations like China and India. This area has become a major center for the manufacture of automobiles in recent years. In Asia Pacific, there is an increased demand for V2X due to rising environmental concerns and the rising spending power of the populace. As two of the world's top producers of electronics, South Korea and Japan would be able to create V2X systems that perform better and are more affordable. Automotive V2X market leaders Denso Corporation (Japan), Mitsubishi Corporation (Japan), Hitachi Solutions, Ltd. (Japan), Huawei Technologies Co., Ltd. (China), and Hyundai Motor Company (South Korea) are all present in the Asia Pacific region. In the upcoming years, it is anticipated that the existence of these businesses will additionally drive the Asia Pacific market.
Recent Developments
- In August 2020, Cohda Wireless announced an advanced C-V2X software development kit. The Cohda C-V2X SDK is a self-contained virtual machine that allows anyone with previous embedded Linux experience to quickly compile and run C-V2X applications paired with C-V2X development platforms, such as those featuring the Qualcomm 9150 C-V2X chipset solution.
- In January 2020, Qualcomm Technologies Inc. introduced a new Qualcomm C-V2X reference platform for vehicular and roadside units (RSUs). It complements C-V2X communication solutions by offering computational power to deliver a full suite of 4G and 5G wireless and C-V2X solutions, including multi-frequency GNSS location services for precise positioning, V2X message security, signing and verifications, and V2X Intelligent Transport System (ITS) stacks.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Autotalks Ltd., Capgemini Engineering, Cohda Wireless, Continental AG, Delphi Technologies, Denso Corporation, etc.Countries Studied
- Americas (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes the publisher's proprietary tool used to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Vehicle-to-Everything (V2X) Communication Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.The report analyses the Global Vehicle-to-Everything (V2X) Communication Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
The report offers a comprehensive evaluation of the Global Vehicle-to-Everything (V2X) Communication Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains the competitive analysis using the analyst's proprietary competitive positioning tool.
Report Highlights
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
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Table of Contents
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Vehicle-to-Everything (V2X) Communication Market, By Offering
7 Global Vehicle-to-Everything (V2X) Communication Market, By Communication
8 Global Vehicle-to-Everything (V2X) Communication Market, By Level of Propulsion
9 Global Vehicle-to-Everything (V2X) Communication Market, By Connectivity
10 Global Vehicle-to-Everything (V2X) Communication Market, By Technology
11 Americas' Vehicle-to-Everything (V2X) Communication Market
12 Europe's Vehicle-to-Everything (V2X) Communication Market
13 Middle East and Africa's Vehicle-to-Everything (V2X) Communication Market
14 APAC's Vehicle-to-Everything (V2X) Communication Market
15 Competitive Landscape
16 Company Profiles
17 Appendix
Companies Mentioned
- Autotalks Ltd.
- Capgemini Engineering
- Cohda Wireless
- Continental AG
- Delphi Technologies
- Denso Corporation
- HAAS, Inc.
- Harman International
- Huawei Technologies Co., Ltd.
- Infineon Technologies AG
- Kapsch Group
- Lear Corporation
- Marben Products
- Neusoft Corporation
- NXP Semiconductors N.V.
- Qualcomm Incorporated
- Robert Bosch GmbH
- Rohde & Schwarz
- Savari, Inc.
- Unex Technology
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 226 |
Published | September 2023 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 3.24 Billion |
Forecasted Market Value ( USD | $ 9.56 Billion |
Compound Annual Growth Rate | 24.1% |
Regions Covered | Global |
No. of Companies Mentioned | 20 |