Dublin, March 15, 2022 (GLOBE NEWSWIRE) -- The "Automotive Vehicle-to-Everything (V2X) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Automotive Vehicle-to-Everything (V2X) Market to Reach $3.1 Billion by 2026
The global market for Automotive Vehicle-to-Everything (V2X) estimated at US$461.7 Million in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2026, growing at a CAGR of 37.9% over the analysis period. Software, one of the segments analyzed in the report, is projected to grow at a 41.9% CAGR to reach US$3.4 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hardware segment is readjusted to a revised 28.9% CAGR for the next 7-year period. This segment currently accounts for a 37.3% share of the global Automotive Vehicle-to-Everything (V2X) market.
Growth in the global market is set to be fueled by increasing focus on efficient traffic management and automobile safety. The increasing number of cars on road and the resulting congestion has prompted various governments to implement automotive V2X solutions to reduce fuel wastage and reduce carbon emissions.
Rising environmental concerns and the need for real-time traffic flow alerts are expected to drive the demand for automotive V2X technology. Other factors spurring growth include macroeconomic scenario, rising incomes, rapid urbanization & industrialization, increasing automation and technological advances.
The U.S. Market is Estimated at $156.7 Million in 2021, While China is Forecast to Reach $529.4 Million by 2026
The Automotive Vehicle-to-Everything (V2X) market in the U.S. is estimated at US$156.7 Million in the year 2021. The country currently accounts for a 27.96% share in the global market.
China, the world`s second largest economy, is forecast to reach an estimated market size of US$529.4 Million in the year 2026 trailing a CAGR of 48.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 27% and 34.8% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 32.2% CAGR while Rest of European market (as defined in the study) will reach US$780.3 Million by the end of the analysis period. Growth in European market is bound to gain from stringent safety norms encompassing features like blind-spot detection and adaptive cruise control. The heavy reliance of these technologies on V2V communication is expected to facilitate expansion of the market.
The regional market is slated to benefits from the collaboration of major companies including Ford, BMW, Groupe PSA and 5GAA with Savari and Qualcomm to demonstrate C-V2X communications in countries like Germany and France.
The North American market is buoyed by implementation of sophisticated technologies in countries including the US and Canada. The region is a major automotive market, and accounts for a huge global automobile population playing on roads.
Key Topics Covered:
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
- 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
- With High Double Digit Growth for V2X, We Are Not Very Far from the Autonomous Driving Reality
- 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
- 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
- Regional Analysis: Europe Becomes the Central Market for Automotive Vehicle-to-Everything
- Competitive Scenario
- Recent Market Activity
- Select Innovations
2. FOCUS ON SELECT PLAYERS (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
3. MARKET TRENDS & DRIVERS
- V2X Technology Alleviates Traffic Concerns
- Smart Cities Poised to Drive Demand
- Focus on Smart Highway to Enhance V2X Deployments
- The Growing Need to Bridge Infrastructure Gap Which is the Highest for Roadways Promises Robust Opportunity for Smart Highways
- Smart Roads Embedded with Sensors Support V2X Uptake
- Growing Investments in Road Infrastructure Development
- Continuous Development of World's Highways to Expand Market Opportunities for Intelligent Transportation Systems (ITS) & Allied Markets
- Connected Cars Pave the Way for Wider Uptake
- Growing Role of Automotive Ethernet Augments Prospects
- V2X Becomes Relevant in Electronic Toll Collection
- V2X Empowers Smart Parking Strategies
- Emphasis on Electric Vehicles to Fuel Demand
- V2X Technology Improves Vehicle Telematics
- IoT to Expand V2X Application Areas
- Importance of Wireless Communication in ITS Networks Augurs Well
- V2X Gains Traction in Traffic Control Strategies
- Breakdown of Annual Hours of Delay Due to Traffic Congestions in Select Countries & Cities Worldwide
- On-Road Safety Drives Business Case for V2X
- 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. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/og7mve
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