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Market Synopsis: Global Automotive V2X Market

Vehicle to everything (V2X) is a technology which helps to increase road safety by means of advanced technological improvements in automotive electronics. V2X technology enables a Vehicle to communicate with the other vehicles, any obstacles such as pedestrian, infrastructure, and even with a vehicle out of sight or any other elements in a traffic-congested area. Rapid urbanization and industrialization in developing nation coupled with increasing disposable income and spending power rising the demand of smart cities. Further, technological advancements in the field of automotive electronics such as cloud technology are being used for vehicle platooning. Rising adoption of connected cars for applications such as real-time updates, navigation, and in-car infotainments and to enhanced driving experience. These are some of the major factors which drive the global automotive V2X market during the forecast period. However, the recent pandemic crisis and economic slowdown have declined the growth for a limited period. The rising population and the necessity of new automotive ways to address consumer demand are likely to drive the growth of the global automotive V2X market over the forecast period. The automotive V2X market in emerging economies is expected to grow with a significant CAGR during the forecast period, 2022-2030.

Impact of Covid-19 pandemic on market

COVID-19 crisis impacted manufacturers involved in various industries and obstructed the entire supply chain, from raw materials to end product delivery. Moreover, government and policymakers are mostly engaged in handling and controlling the medical crisis to meet a healthy and safe environment for the nation’s population. The lack of understanding to manage economic risks and the business sector is expected to put the economic and industrial growth towards vulnerability. The report will include the impact of COVID-19 on the target market in detail.

Market Dynamics: Global Automotive V2X Market

Rising number of road accidents is increase the need for increased public safety and rising government support for improving traffic management is expected to drive the automotive V2X market during estimated period.

Lack of awareness and disrupted supply chains in underdeveloped countries has been a prominent hindrance for the global Automotive V2X market. Furthermore, the less adoption rate of advanced technology and poor infrastructure in developing nations may hamper the growth of the global automotive V2X market.

The company’s focus and goal of making a decisive contribution to shaping technological progress in business segments are likely to propel the demand and increase the sales volume of automotive V2X across the global market.

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Market Segmentation: Global Automotive V2X Market

The global automotive V2X market is segmented based on communication, connectivity, vehicle type, offering, and regions.

The global automotive V2X market is segmented based on communication as 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). The Vehicle-to-vehicle (V2V) segment accounts for a major market share attributing to grow safety concerns among the public and government dues to increasing traffic accidents is an important driving factor for the growth of the automotive V2V market.

Based on vehicle type, the target market is segregated into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment is subjected to grow the market. Rapid urbanization and industrialization in developing nation of world, increases the demand of passenger car, helps to drive the vehicle type segment.

PCs, LCV’s, and HCV’s. The LCV’s vehicle type segment is anticipated to promote the demand for headliners due to its high volume usage in commercial vehicles as compared to passenger cars. The target market is segmented based on material type as Cellular, and DSRC. The demand for modern features in vehicles including noise control interiors is likely to influence the choice for different materials of Automotive V2X.

Based on the offering, the global automotive V2X market is segmented into hardware and software. The software segment is dominant the offering segment, the global automotive V2X market is expected to experience significant CAGR in coming years.

Regional Overview: Global Automotive V2X Market

In the region, the global Automotive V2X market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast period, the North America Automotive V2X market is projected to endure its dominance owing to the rapid technological advancements in the field of vehicle-to-vehicle connectivity in the region, rising public preference toward vehicles equipped with high-tech features such as vehicle-to-vehicle connectivity increasing disposable income of people, the, and the increasing concern about reducing excessive fuel consumption in the region.

Competitive Landscape: Global Automotive V2X Market

The key players operating in the global Automotive V2X market include Continental AG, Delphi Automotive PLC, NXP Semiconductors N.V., Robert Bosch GmbH, Infineon Technologies AG, Tomtom N.V., Denso Corporation, Altran, Autotalks Ltd., Continental AG, HARMAN International, Qualcomm Technologies, Inc., Savari, Inc., STMicroelectronics and other players. The market players have an opportunity to work on establishing and improving new distribution channels to attract the prominent consumer segment across developing countries.

Detailed Segmentation: Global Automotive V2X Market

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2028.  For the purpose of this study, analyst has segmented the global Automotive V2X market report based on the headliner communication, connectivity, vehicle type, offering, and region.

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Global Automotive 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 V2X Market, By Connectivity:

• Cellular
• DSRC

Global Automotive V2X Market, By Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Global Automotive V2X Market, By Offering:

• Hardware
• Software

Global Automotive V2X Market, By Region:

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Russia
• Italy

• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea

• Rest of Asia Pacific

• Latin America

• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• GCC
• Israel
• South Africa
• Rest of Middle East & Africa

Company Profile:

• Continental AG*

• Company Overview
• Product Portfolio
• Key Highlights
• Financial Performance
• Business Strategies

• Delphi Automotive PLC
• NXP Semiconductors N.V.
• Robert Bosch GmbH
• Infineon Technologies AG
• Tomtom N.V.
• Denso Corporation
• Altran
• Autotalks Ltd.
• Continental AG
• HARMAN International
• Qualcomm Technologies, Inc.
• Savari, Inc.
• STMicroelectronics