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Automotive Vehicle-to-Everything (V2X) - Global Market Trajectory & Analytics

  • ID: 4804383
  • Report
  • January 2021
  • Region: Global
  • 202 Pages
  • Global Industry Analysts, Inc
The Closer & Closer We Get to Autonomous Driving Reality, the Bigger & Bigger Will Be the Opportunity for V2X. Market to Reach US$ 4.3 Billion

The global market for Automotive Vehicle-to-Everything (V2X) is projected to reach US$ 4.3 billion by the year 2027, trailing a post COVID-19 CAGR of 37.9% over the analysis period 2020 through 2027. With reluctance to use shared mobility expected to persist even in the post pandemic world, business opportunity for autonomous driving is coming back stronger. While delays in timelines & missed targets are inevitable in the year 2020, a rapid recovery & a brighter outlook compared to pre-COVID times is already on cards. V2X represents a vital connectivity link crucial for delivering on the promise of fully autonomous driving. Automotive Vehicle-to-Everything (V2X) represents a major achievement in the direction of ensuring vehicle safety by allowing vehicles to directly communicate with other components of the traffic system. The technology encompasses various elements such as vehicle-to-vehicle (V2V) that enables communication among vehicles. Vehicle-to-infrastructure (V2I) is another component of the V2X technology that facilitates communication between a vehicle and external systems like street lights, pedestrians, cyclists and buildings. Some of the other major elements of the V2X technology include vehicle-to-network (V2N), vehicle-to-vehicle (V2V), vehicle-to-pedestrian (V2P), vehicle-to-device (V2D) and vehicle-to-grid (V2G). The adoption of V2X can be credited to increasing focus on traffic efficiency, road safety and fuel savings. The technology holds potential to significantly reduce traffic accidents and associated mortalities. The vehicular technology uses short-range wireless signals for enabling communication and allows drivers to gain information regarding road conditions, nearby accidents, weather and dangerous activity.

The signals used by the technology are resistant to weather conditions and interference. The technology also serves various purposes such as automatic payment for parking and tolls. While the V2X technology holds compelling benefits, it requires mature technological options and efforts by market participants to overcome certain glitches. For instance, V2X-powered communication among vehicles or objects requires all participants to be equipped with the technology. Since various traffic signals are not integrated with V2X, vehicles are unable to communicate with these objects. In addition, other components like pedestrians or cyclists are required to be equipped with V2X devices for facilitating communication. However, the concept of V2X holds significant potential for autonomous vehicles, and is anticipated to gather notable steam in the coming years. New car models equipped with the technology are expected to start appearing on the market soon. The Volkswagen Golf 8th generation represented the foremost passenger car that came with NXP-powered V2X technology. In addition, the technology needs clear regulations pertaining to autonomous driving for finding extensive adoption in the future. The automotive vehicle-to-everything (V2X) technology is garnering a significant traction on account of its ability to avoid road accidents. There are around 1.25 million fatalities globally related to road accidents, with driving error remaining the primary cause. These incidents are prompting governments to embrace V2X for avoiding collisions and reducing fatalities. The technology also holds an important role in reducing traffic congestion and saving fuel. V2X communication allows cars to connect with other IoT devices as well as enabling vehicles to exchange information with other vehicles on the road.

The technology is anticipated also find broader acceptance owing to increasing demand for vehicle connectivity along with other safety features. The fleet & asset management segment occupies the largest share of the automotive V2X market. Businesses rely on fleet monitoring and tracking tools for controlling their fleet, pushing productivity and reducing costs. On the other hand, automated driver assistance is anticipated to remain one of the most demanding applications of devices due to features like obstacle detection, lane departure warning, intersection collision warning, road departure warning, lane change assistance, rear impact warning, rollover warning, safety margin and forward collision warning. The V2V segment along with V2I communication is predicted to post a fast growth rate. These approaches are built on the Wi-Fi derivative 5.9 GHz that is dedicated to short-range communications for fast-moving objects. The market is expected to witness strong adoption of telematics in automobiles for V2V, V2P and V2I connectivity. The platform is anticipated to be used for remote tracking, safety alert, navigation and entertainment. Telematics allows logistics and vehicle fleet management systems to perform efficiently. Cellular is anticipated to be the key connectivity segment of the automotive V2X market going forwards. The implementation of 5G technology is expected to support 5G-V2X applications to enhance cyber security and message handling in congested traffic settings. The cellular segment is estimated to also gain from benefits associated with cost of hardware components. The use of Dedicated Short Range Connectivity (DSRC) for V2P communication demands additional hardware and makes C-V2X and expensive affair. However, ongoing developments by leading companies are anticipated to drive the adoption of C-V2X technology.

Select Competitors (Total 46 Featured):

  • Autotalks Ltd.
  • BMW Group
  • Cisco Systems, Inc.
  • Cohda Wireless Pty Ltd.
  • Continental AG
  • General Motors Company
  • Harman International
  • Infineon Technologies
  • Kapsch TrafficCom AG
  • NXP Semiconductors
  • Qualcomm Technologies, Inc.
  • Robert Bosch GMBH
  • Savari Inc.
  • STMicroelectronics
  • Toyota Motor Corporation
  • Volkswagen AG
Frequently Asked Questions about the Global Market for Automotive Vehicle-to-Everything (V2X)

What is the estimated value of the Global Market for Automotive Vehicle-to-Everything (V2X)?

The Global Market for Automotive Vehicle-to-Everything (V2X) was estimated to be valued at $47.8 Billion in 2020.

What is the growth rate of the Global Market for Automotive Vehicle-to-Everything (V2X)?

The growth rate of the Global Market for Automotive Vehicle-to-Everything (V2X) is 24.6%, with an estimated value of $222.3 Billion by 2027.

What is the forecasted size of the Global Market for Automotive Vehicle-to-Everything (V2X)?

The Global Market for Automotive Vehicle-to-Everything (V2X) is estimated to be worth $222.3 Billion by 2027.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • The Many Facets of COVID-19 Impact on Autonomous Cars
  • EXHIBIT 1: Reluctance to Use Shared Mobility Will Persist Even in the Post Pandemic World. The Darkening Outlook for “Shared Mobility” is a Business Opportunity for Self-Driving Cars & Taxis: Global Ride Hailing & Taxi Market (In US$ Billion)
  • With High Double Digit Growth for V2X, We Are Not Very Far from the Autonomous Driving Reality
  • EXHIBIT 2: V2X, the Vital Connectivity Link Crucial for Delivering On the Promise of Fully Autonomous Driving: Network Speeds Needed to Support Big Data of Autonomous Cars
  • Automotive Vehicle-to-Everything (V2X): A Cornerstone Technology for Vehicle Safety & Traffic Efficiency
  • Brief Note on Underlying Technology
  • EXHIBIT 3: World Market for Automotive Vehicle-to-Everything (V2X) by Offering (2020 & 2027): Percentage Breakdown of Revenues for Software, and Hardware
  • Regulatory Regimes in the US and Europe
  • Global Automotive V2X Market to Move Ahead Swiftly in Top Gear
  • Critical Need to Avoid Accidents Buoys Demand for Automotive V2X Technology
  • Analysis by Connectivity: Strong Gains for Cellular Segment Foreseen
  • EXHIBIT 4: World Market for Automotive Vehicle-to-Everything (V2X) by Connectivity (2020 & 2027): Percentage Breakdown of Revenues for Dedicated Short Range Communication (DSRC), and Cellular Connectivity
  • Regional Analysis: Europe Becomes the Central Market for Automotive Vehicle-to-Everything
  • EXHIBIT 5: World Automotive Vehicle-to-Everything (V2X) Market (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • EXHIBIT 6: World Vehicle-to-Everything (V2X) Market - Geographic Regions Ranked by CAGR (Revenues) for 2020-2027: China, Asia-Pacific, USA, Rest of World, Canada, Europe, and Japan
  • Competitive Scenario
  • Recent Market Activity
  • Select Innovations

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • V2X Technology Alleviates Traffic Concerns
  • EXHIBIT 7: Vehicular Population Worldwide: Number of Vehicles in Millions for Years 2015, 2025 & 2040
  • Smart Cities Poised to Drive Demand
  • EXHIBIT 8: World Smart Cities Market Revenues (in US$ Million) by Geographic Region for the Years 2020 & 2025
  • Focus on Smart Highway to Enhance V2X Deployments
  • EXHIBIT 9: The Growing Need to Bridge Infrastructure Gap Which is the Highest for Roadways Promises Robust Opportunity for Smart Highways: Global Cumulative Investments in Roadways Vs Actual Need for the Period 2016-2040 (In US$ Billion)
  • Smart Roads Embedded with Sensors Support V2X Uptake
  • Growing Investments in Road Infrastructure Development
  • EXHIBIT 10: Continuous Development of World’s Highways to Expand Market Opportunities for Intelligent Transportation Systems (ITS) & Allied Markets: Length of Road Networks (In 000 Kilometers) in Top 15 Countries Worldwide for the Year 2018
  • Connected Cars Pave the Way for Wider Uptake
  • EXHIBIT 11: Global Connected Vehicle Shipments (In Million Units) for the Years 2019, 2021 and 2023
  • Growing Role of Automotive Ethernet Augments Prospects
  • EXHIBIT 12: Global Number of Connected Cars Shipped (In 000 Units) for the Years 2017, 2019 and 2022
  • V2X Becomes Relevant in Electronic Toll Collection
  • V2X Empowers Smart Parking Strategies
  • Emphasis on Electric Vehicles to Fuel Demand
  • EXHIBIT 13: Global Electric Car Fleet Size (In Thousand Units) for the Years 2014, 2016, 2018 and 2021
  • EXHIBIT 14: World Market for Automotive Vehicle-to-Everything (V2X) by Propulsion Type (2020 & 2027): Percentage Breakdown of Revenues for Internal Combustion Engine (ICE), and Electric
  • V2X Technology Improves Vehicle Telematics
  • EXHIBIT 15: Global Automotive Telematics Market (In US$ Billion) for the Years 2017, 2019 and 2022
  • IoT to Expand V2X Application Areas
  • EXHIBIT 16: Global Number of IoT Connected Devices (In Billion Units) for the Years 2016, 2018, 2020, 2022 & 2025
  • EXHIBIT 17: Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
  • Importance of Wireless Communication in ITS Networks Augurs Well
  • V2X Gains Traction in Traffic Control Strategies
  • EXHIBIT 18: Breakdown of Annual Hours of Delay Due to Traffic Congestions in Select Countries & Cities Worldwide
  • On-Road Safety Drives Business Case for V2X
  • EXHIBIT 19: Number of Deaths Caused by Road Accidents Worldwide by Region for the Years 2017 & 2030
  • Convergence of Mobile Communications with Transport Infrastructure Bodes Well
  • 5G to Accelerate the Role of Cellular Connectivity in Transportation Sector
  • V2X to Gain from Advanced In-Car Infotainment Systems
  • Potential Threat of Cyber Attacks

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • REST OF EUROPE
  • ASIA-PACIFIC
  • REST OF WORLD

IV. COMPETITION
  • Total Companies Profiled: 139
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