Selbyville, Delaware, June 27, 2023 (GLOBE NEWSWIRE) --
Automotive Vehicle-To-Everything (V2X) Market size is expected to cross a valuation of USD 25 billion by 2032, according to latest research report by Global Market Insights Inc.
The V2X industry is experiencing rapid expansion, driven by several factors. First and foremost, the rise of connected vehicles has played a pivotal role. As more vehicles become equipped with advanced sensors, processors, and communication modules, the potential for seamless communication and coordination between vehicles increases exponentially. Additionally, the advent of 5G technology has opened up new possibilities for V2X communication, enabling faster and more reliable data transfer. This high-speed connectivity will enable real-time exchange of critical information, such as traffic conditions, road hazards, and emergency situations, leading to improved safety and efficiency on the roads.
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Furthermore, the growing interest among automakers and technology companies who are investing heavily in R&D to create advanced V2X solutions and communication protocols will contribute to automotive vehicle-to-everything (V2X) market development. Collaboration between automotive manufacturers, telecom providers, and infrastructure developers is crucial for the widespread adoption of V2X technology. The collective effort of these industry stakeholders is driving the innovation and standardization necessary to unlock the full potential of V2X technology.
Need for seamless communication to drive software demand
The software segment will showcase significant growth over 2023-2032. With the rapid expansion of smart transportation systems, the integration of sophisticated software solutions has become pivotal for enabling seamless communication and data exchange between vehicles, infrastructure, pedestrians, and other entities. These software components encompass a range of applications such as advanced driver assistance systems (ADAS), traffic management systems, fleet management, and intelligent transportation systems (ITS). They play a vital role in enhancing vehicle safety, optimizing traffic flow, reducing congestion, and enabling efficient transportation networks.
Integration of fleet vehicles to smart infrastructure to fuel industry share
Automotive vehicle-to-everything market share from fleet management application will grow considerably through 2032. Fleet management leverages the capabilities of the V2X technology to enhance operational efficiency and safety. The technology allows fleet managers to monitor and track vehicles in real-time, enabling them to optimize routing, reduce fuel consumption, and minimize idle time. With V2X communication, fleet vehicles can exchange information about traffic conditions, road hazards, and weather, enabling proactive decision-making and route adjustments. This technology also enables remote diagnostics and predictive maintenance, improving vehicle uptime and reducing maintenance costs.
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Advanced infrastructure development in North America
North America automotive vehicle-to-everything industry will witness significant expansion during 2023 and 2032. The region boasts advanced automotive infrastructure, strong government support, and a favorable regulatory environment. The presence of key automotive manufacturers and technology companies also contributes to business progression. The region is at the forefront of V2X technology development, with ongoing trials and deployments across the United States and Canada.
The industry growth is driven by the increasing emphasis on road safety, the demand for efficient traffic management systems, and the pursuit of autonomous driving. With robust investments and collaborations, North America is poised to play a leading role in shaping the future of the V2X market.
Competitive landscape of the global market
Some of the leading players in the global automotive vehicle-to-everything market are Motive Inc, Emfit Ltd., Garmin Ltd., Google LLC, Oura Health oy, Sleepace, Eight Sleep, Sleepme Inc., Sleep Number Corporation, Ultrahuman Healthcare Pvt Ltd, Whoop, Xiaomi Corporation, Withings, Tempur Pedic North America, LLC, Koninklijke Philips, N.V., and SLEEPON.
Partial Chapter of the Table of Content
Chapter 2 Executive Summary
2.1 Automotive V2X market 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Connectivity type trends
2.5 Vehicle type trends
2.6 Communication type trends
2.7 Component trends
2.8 Application trends
Chapter 3 Automotive V2X Market Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising adoption of autonomous and connected cars
3.10.1.2 Increasing need for safety and accident prevention
3.10.1.3 Growing focus on infrastructure development and smart cities
3.10.1.4 Rising demand for vehicle telematics
3.10.1.5 Increasing government initiatives and regulations
3.10.2 Industry pitfalls & challenges
3.10.2.1 Data privacy and security concerns
3.10.2.2 Lack of infrastructure
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
