Global Vehicle-To-Everything Communication Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Qualcomm Technologies announced plans to carry out cellular vehicle-to-everything (C-V2X) trials in Japan

The Global Vehicle-To-Everything Communication Market is estimated to be USD 2.39 Bn in 2023 and is expected to reach USD 12.83 Bn by 2028 growing at a CAGR of 39.96%.

Vehicle-to-everything (V2X) communication refers to a technology that enables communication between vehicles and any other entity that may affect the vehicle or be affected by the vehicle. This involves communication with other vehicles on the road, infrastructure like as traffic lights, and pedestrians. Several wireless communication technologies, including cellular, Wi-Fi, and Dedicated Short-Range Communication, can be used to do it (DSRC). V2X technology can be utilized to enhance traffic control, increase road safety, and lessen congestion. Advanced driving assistance systems (ADAS) like collision avoidance systems, blind-spot recognition, and lane departure warning are some of the main applications of V2X communication. To ensure safe and effective driving, it can be utilized to enable autonomous vehicles to connect with other vehicles and infrastructure. Systems for traffic management that use real-time data to improve traffic flow and relieve congestion are further applications of V2X communication. Emergency responders can detect accidents and other on-the-road emergencies rapidly using V2X communication.

The market is driven by increasing development in connected car technology and growing collaboration. The market is undergoing a significant transformation, and OEMs are increasingly focusing on advanced mobility, such linked and driverless vehicles. Companies are investing more money in research and development for the hardware, software, and services connected to autonomous driving and car connectivity. Vehicles are becoming more and more commonplace with cutting-edge sensors, CPUs, and wireless communication systems. A variety of linked car services, including telematics, infotainment, and advanced driving support systems, have emerged as a result (ADAS). The rising need for safer, more effective, and convenient transportation options has been one of this trend's main drivers. The use of connected vehicles has the potential to increase traffic flow, lessen accidents, and improve consumer driving experiences. Industry participants are working together more frequently to encourage the adoption of V2X communication technologies. It facilitates communication between vehicles and other entities, including pedestrians, other vehicles, and traffic infrastructure. It is seen as a major enabler for advanced safety and automated driving applications.

However, the market is restrained by lack of infrastructure for proper functioning in vehicle-to-everything (V2X) communication technology. To exchange data and enhance traffic flow and road safety, V2X uses a network of sensors and communication devices, including roadside units and other vehicles. Nevertheless, the implementation of these devices necessitates large infrastructure investments, such as the setting up of communication networks and sensors on roads and other forms of transportation infrastructure. Adoption is severely hampered by it, especially in areas with scant resources for infrastructure development. V2X communication protocols are not standardized, which causes interoperability problems and prevents the technology from being widely used. Hence, the development of V2X marketplaces in some countries is hampered by a lack of IT and communication infrastructure in emerging regions and a delay in regulatory rules.

However, the market has an opportunity by the governments around the world are increasingly recognizing the potential benefits of vehicle-to-everything (V2X) communication technology. They are assisting in its development and deployment by offering support. The way that governments support V2X technology is by providing financing for R&D. To assist the development of standards and protocols and to promote the use of V2X in new cars, they are making investments in the research and development of V2X technology. Also, a lot of governments are subsidizing the installation of V2X infrastructure, like roadside units and communication networks. While the US Department of Transportation has offered money for V2X pilot projects in some US states, the European Union's C-Roads initiative is helping to establish V2X infrastructure throughout all of Europe. Additionally, they are attempting to create rules and guidelines that will facilitate the use of V2X technology. The development and deployment of V2X systems are anticipated to proceed more quickly because of the increasing government funding for the technology. This could result in substantial advancements in traffic management, environmental sustainability, and road safety.

• However, the market is challenged by the concerns related with maintaining data security and anonymity. The system depends on the interchange of private data, such as vehicle and location data, which must be secured against unwanted access or exploitation. The security of the communication channels between cars and other entities is being ensured using V2X technology. Cyberattacks or hacking attempts could jeopardies the integrity and confidentiality of the transmitted data through these communication routes. Cyberthreats have a direct impact on V2X's functioning and integrity. Every message should come from a reliable source, and it should be shielded from outside interference and manipulation. Cyberattacks can be caused by heterogeneous nodes, sporadic connections, and varying speeds, rendering conventional security measures inadequate.

Market Segmentations

• The Global Vehicle-To-Everything Communication Market is segmented based on Vehicle Type, Component, Connectivity, Communication, Unit, and Geography.
• By Component, the market is classified into Hardware and Software.
• The Hardware segment is expected to have the highest market share during the forecast period. The physical parts and gadgets that permit communication between vehicles and other entities, such as roadside infrastructure and other gadgets, are referred to as the sector in Vehicle-to-Everything (V2X) communication. This is because automakers are relying more and more on V2X hardware products to guarantee product dependability, customer satisfaction, and safety, as well as because there are more hardware suppliers and manufacturers now, all of which are expected to increase the market share of these components globally. The segment, which facilitates communication between cars and other entities and for the exchange of crucial information that might increase road safety and efficiency, is essential to the success of V2X communication.
• By Vehicle Type, the market is classified into Passenger Car and Commercial Vehicles.
• The Passenger Cars segment held the largest share of the market. Big automakers have already started using V2X. For instance, Toyota has contributed significantly to the development of the vehicle-to-everything industry by deploying more than 100,000 Lexus and Toyota automobiles that are DSRC-equipped. VW has also deployed DSRC-based vehicle-to-everything in its new Golf vehicles in Europe. These elements are to blame for this segment's supremacy. With V2X communication, passenger cars can function as both information transmitters and receivers. Information regarding the weather, road conditions, and traffic flow can be obtained by a passenger automobile from nearby vehicles or roadside equipment. The driving experience can then be enhanced, accidents prevented, and travel times decreased using this information. It can also provide data to infrastructure and other cars.
• By Connectivity, the market is classified into Cellular Connectivity and DSRC.
• The Cellular Connectivity in the V2X market captured a significant market share. To offer a variety of V2X services, such as vehicle-to-vehicle, vehicle-to-pedestrian, and even vehicle-to-cloud communication, the cellular V2X (C-V2X) technology makes advantage of the current cellular networks. Because it can manage a lot of data, it is appropriate for cutting-edge uses like automatic driving. Compared to earlier V2X technologies, such Dedicated Short-Range Communication (DSRC), which required a dedicated wireless communication channel for V2X communication, it enables more sophisticated communication capabilities. It enables real-time communication between vehicles, pedestrians, bikers, and other infrastructure because it uses the same cellular network as mobile phones. It is capable of supporting a wide range of communication requirements, including low latency, high priority requirements for safety-critical applications and higher bandwidth, lower priority requirements for non-critical applications like infotainment services. A variety of industry participants, including automakers, cellular network operators, and technology firms, are working to create and implement it. Future advanced driver assistance systems (ADAS) and autonomous driving technologies are predicted to be greatly aided by the technology.
• By Communication, the market is classified into Vehicle-to-Grid Communication, Vehicle-to-Home Communication, Vehicle-to-Infrastructure Communication, Vehicle-to-Network Communication, Vehicle-to-Pedestrian Communication, and Vehicle-to-Vehicle Communication.
• The Vehicle-to-Vehicle Communication holds the largest share of the market. In circumstances like blind spots, heavy traffic, crossroads, and topographical problems, among others, V2V gives drivers information about other cars, including speed, direction, and location, and warns them of any potential hazard. It's a technology that permits wireless communication protocols between automobiles so they can talk to one other without a centralized infrastructure. Dedicated short-range communication (DSRC) or cellular technologies are used by V2V communication systems to send and receive data between vehicles. It supports a variety of safety and efficiency applications, such as vehicle platooning, traffic control, and accident avoidance. Moreover, real-time vehicle movement coordination is done with it to ease traffic congestion and enhance traffic flow.
• Vehicles are outfitted with specialized communication tools, such as on-board units (OBUs) or specialized communication modules, to enable V2V communication. These devices transmit and receive data between automobiles using short-range wireless communication protocols like Wi-Fi or DSRC. Information regarding the vehicle's speed, location, and direction of travel, as well as details about the state of the road and the weather, are all included in the data communicated between cars. The capacity to deliver real-time, low-latency communication between vehicles is a benefit of V2V communication, enabling safety-critical applications like collision avoidance. These elements will fuel the expansion of this market sector.
• By Unit, the market is classified into On-Board Units (OBUS) and Roadside Units (RSUS).
• On-Board Units (OBUS) holds the largest share of the market. Between the vehicle and other V2X-capable equipment, such as roadside units or other vehicles, OBUs are used to receive and transfer data. Usually, they are mounted on the dashboard of the car or another suitable place as small, compact gadget. They are equipped with a variety of sensors and connectivity options, such as cellular modems, Wi-Fi, Bluetooth, and GPS, that enable them to interact with other V2X network nodes. OBUs are essential to V2X communication since they oversee gathering, processing, and relaying data from a variety of sensors to other network nodes. It can be used to enable a wide range of V2X communication use cases, including vehicle-to-vehicle (V2V) communication, vehicle-to-infrastructure (V2I) communication, and vehicle-to-pedestrian (V2P) communication. Supporting real-time, low-latency communication is a key capability of OBUs and is essential for safety-critical V2X applications like collision avoidance and emergency braking. It is built to be dependable and secure, with strong authentication and encryption techniques to guarantee that data is shielded from misuse or unwanted access.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• Asia-Pacific holds the largest share of the market. China, Japan, South Korea, and India are some of the largest automotive markets in the world, and the area is seeing a significant rise in both car ownership and urbanization. Several nations in the Asia-Pacific area have started campaigns to encourage the growth and acceptance of V2X technology. V2X technology has been given top priority by the Chinese government in its 'Made in China 2025'initiative, which intends to expand high-tech sectors and raise the caliber and competitiveness of goods produced in China. With the aim of installing V2X systems on all of Japan's roadways by 2020, the Japanese government has also been actively supporting V2X technology. Together with government assistance, the area is home to several top technological firms that are creating V2X communication systems. A C-V2X platform was developed by Huawei, a Chinese telecommunications corporation, to handle a variety of V2X communication use cases, such as vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-pedestrian (V2P) communication. Companies in South Korea, including Samsung and LG, have been making investments in V2X technology, especially in the creation of 5G networks, which are anticipated to support more sophisticated V2X applications. In general, the region is anticipated to be an important market for V2X technology in the years to come, with significant expenditures anticipated to fuel the expansion of V2X communication systems in the region.

Recent Development

• Hyundai Motor partnership with Autotalks through a direct investment to accelerate the development and deployment of the next-generation chipset for connected cars. - August 2021
• EMnify enabled smart V2X communication and traffic telematics studies at TU Dresden. - January 2021
• Brandmotion LLC collaborated with DENSO Products and Services Americas to offer a one-stop service to cities seeking to equip their automobiles with advanced V2X technology. - October 2021

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 AUD, Autotalks, Cohda Wireless, Commsignia, Continental, Cubic Telecom, Denso, etc.

Countries Studied

• America (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)
• The report includes Competitive Quadrant, a proprietary tool 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 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 publisher analyses the Global Vehicle-To-Everything 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 publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Vehicle-To-Everything 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.
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• Excel data sheet for the market size will also be provided with the report.
• 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 on the market is also featured in the report.
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• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
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Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market