The V2X technology enables vehicles to communicate with moving parts of the traffic system around them. The market is majorly driven by the rise in the adoption of connected cars. According to the Cambridge Innovation Institute, over 125 million passenger cars with embedded connectivity are estimated to ship globally between 2018 and 2022. Moreover, favorable government initiatives, as well as rising technology penetration, are also estimated to fuel the market growth. Also, wildly increasing traffic congestion and environmental concerns are expected to boost market growth.
A rise in the adoption of connected cars
Cars enabled with the 5G wireless technology are currently in their testing phase. With features such as faster downloading speeds and low latency, connected cars are one of the largest beneficiaries of the new wireless standards. Connected cars offer more than just the added entertainment in their dashboard. C-V2X or cellular vehicle-to-X technology encompasses the connecting of vehicle sensors to driving data such as traffic, location, speed, other cars, and anything else which can be conceived in this driving ecosystem. Ford Motor’s CES show conducted in January 2019, stated that the company aims to equip the entire portfolio of Ford cars with 5G modems. These are expected to roll out in 2022. Such developments are anticipated to boost market growth.
Favorable government initiatives and rising technology penetration
Various government initiatives coupled with technological advancements by companies are boosting market growth. For instance, China Unicom, China Telecom, and China Mobile are expected to invest near about USD 184 billion in 5G network technology by 2025. In addition to this, in 2020, China Unicom and Volvo collaborated to explore the V2X technology and other use cases requiring a 5G network. Such developments by market players and initiatives by the government are anticipated to fuel the market growth during the forecast period.
The global V2X (Vehicle-to-Everything) market is segmented into component, communication, connectivity, application, vehicle type, and vehicle application.
- Onboard Unit (Connectivity Control Unit)
- Road-Side Unit
- Software Platform
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Pedestrian (V2P)
- Vehicle-to-Grid (V2G)
- Vehicle-to-Cloud (V2C)
- Vehicle-to Device (V2D)
- Dedicated short-range communications (DSRC)
- Automated driver assistance (ADAS)
- Intelligent traffic systems
- Emergency vehicle notification
- Passenger information system
- Fleet & asset management
- Parking management system
- Line and non-line of sight
By Vehicle Type
- ICE Vehicle
- Electric Vehicles
By Vehicle Application
On a regional basis, the global V2X (Vehicle-to-Everything) market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.
The North American region accounted for the largest market share of more than 30% in the global market owing to the presence of developed countries, i.e. the U.S. and Canada, which are one of the largest automotive markets. The Asia Pacific region is anticipated to grow at the fastest growth rate during 2017 to 2027.
The European market is expected to hold the second-largest market share as the European automotive industry has stringent emission norms and safety regulations. These norms are expected to promote the adoption of V2X technology, which contributes to market growth.
Key players operating in the global V2X (Vehicle-to-Everything) market include Altran, Autotalks LTD, TE Connectivity, Cohda Wireless, Continental AG, Delphi Technologies, Denso Corporation, Flex LTD., General Motors, Harman International, Huawei Technologies Co., LTD., Infineon Technologies AG, Intel Corporation, Kapsch Group, Lear Corporation, Marben Products, Mitsubishi Corporation, Molex (Koch Industries), Nokia, NXP Semiconductors, NUVVE, Qualcomm Technologies, Inc., Robert Bosch GmbH, Unex Technology Corp., Stmicroelectronics, and Tata Elxsi, among others.
The cumulative market share of the eight major players is near about 63.3%. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in May 2021, Autotalks collaborated with Sreda to deliver Autotalks’ V2X solutions for Russian and global markets.
The global V2X (Vehicle-to-Everything) market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global V2X (Vehicle-to-Everything) market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global V2X (Vehicle-to-Everything) market report answers questions such as:
- What is the market size and forecast of the Global V2X (Vehicle-to-Everything) Market?
- What are the inhibiting factors and impact of COVID-19 on the Global V2X (Vehicle-to-Everything) Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global V2X (Vehicle-to-Everything) Market?
- What is the competitive strategic window for opportunities in the Global V2X (Vehicle-to-Everything) Market?
- What are the technology trends and regulatory frameworks in the Global V2X (Vehicle-to-Everything) Market?
- What is the market share of the leading players in the Global V2X (Vehicle-to-Everything) Market?
- What modes and strategic moves are considered favorable for entering the Global V2X (Vehicle-to-Everything) Market?
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.2 Quantitative Research
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Vehicle-to-Everything (V2X) Market
Chapter 4. Global Vehicle-to-Everything (V2X) Market Overview
4.1. Industry Value Chain Analysis
4.2. Industry Outlook
4.3. Technology Roadmap
4.4. PESTLE Analysis
4.5. Porter's Five Forces Analysis
4.6. Market Dynamics and Trends
4.7. Covid-19 Impact Assessment on Market Growth Trend
4.8. Market Growth and Outlook
4.9. Competition Dashboard
Chapter 5. Vehicle-to-Everything (V2X) Market Analysis, By Component
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 6. Vehicle-to-Everything (V2X) Market Analysis, By Communication
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 7. Vehicle-to-Everything (V2X) Market Analysis, By Connectivity
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 8. Vehicle-to-Everything (V2X) Market Analysis, By Application
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 9. Vehicle-to-Everything (V2X) Market Analysis, By Vehicle Type
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 10. Vehicle-to-Everything (V2X) Market Analysis, By Vehicle Application
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 11. Vehicle-to-Everything (V2X) Market Analysis, By Region/Country
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 12. North America Vehicle-to-Everything (V2X) Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 13. Europe Vehicle-to-Everything (V2X) Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 14. Asia Pacific Vehicle-to-Everything (V2X) Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 15. Middle East & Africa Vehicle-to-Everything (V2X) Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 16. South America Vehicle-to-Everything (V2X) Market Analysis
16.1. Key Insights
16.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 17. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
17.2. Autotalks LTD.
17.3. TE Connectivity
17.4. Cohda Wireless
17.5. Continental AG
17.6. Delphi Technologies
17.7. Denso Corporation
17.8. Flex LTD.
17.9. General Motors
17.10. Harman International
17.11. Huawei Technologies Co., LTD.
17.12. Infineon Technologies AG
17.13. Intel Corporation
17.14. Kapsch Group
17.15. Lear Corporation
17.16. Marben Products
17.17. Mitsubishi Corporation
17.18. Molex (Koch Industries)
17.20. NXP Semiconductors
17.22. Qualcomm Technologies, Inc.
17.23. Robert Bosch GmbH
17.24. Unex Technology Corp.
17.26. Tata Elxsi
A selection of companies mentioned in this report includes:
- Autotalks LTD.
- TE Connectivity
- Cohda Wireless
- Continental AG
- Delphi Technologies
- Denso Corporation
- Flex LTD.
- General Motors
- Harman International
- Huawei Technologies Co., LTD.
- Infineon Technologies AG
- Intel Corporation
- Kapsch Group
- Lear Corporation
- Marben Products
- Mitsubishi Corporation
- Molex (Koch Industries)
- NXP Semiconductors
- Qualcomm Technologies, Inc.
- Robert Bosch GmbH
- Unex Technology Corp.
- Tata Elxsi