Wilmington, Delaware, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Global Automotive V2X Market was valued at US$ 2,548.6 million in 2023 and is expected to grow at a significant CAGR of over 27.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Automotive V2X, or Vehicle-to-Everything communication, refers to a set of technologies that enable vehicles to communicate with various elements in their environment. This communication can be with other vehicles (V2V), infrastructure (V2I), pedestrians (V2P), and cloud or network services (V2N).
V2X technology has the potential to greatly improve road safety. It enables vehicles to exchange real-time information about their speed, position, and direction with other vehicles, assisting in the prevention of accidents, the reduction of traffic congestion, and the improvement of overall road safety.
- According to a deep-dive market assessment by RationalStat, the global Automotive V2X market has been analyzed on the basis of market segments, including type, application, wireless communication technology type, vehicle type, component and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Automotive V2X market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Automotive V2X market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Automotive V2X Market: Segmental and Market Share Analysis
- On the basis of wireless communication technology type, Due to its ease of implementation, well-built technology, and confirmed data security standards, the DSRC category held the biggest market share in 2022.
- On the basis of type, the vehicle-to-vehicle (V2V) sector dominated the market. V2V can provide drivers with information about other cars, such as speed, direction, and location, as well as warn them of any potential risk.
- On the basis of vehicle type, the passenger vehicles segment accounted for the major number share of market share. V2X is already being used by major automakers.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2,548.6 million |
| Market Size Forecast | US$ 18,101.2 million |
| Growth Rate | 27.8% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Automotive V2X companies and leadiing players are adopting various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global automotive V2X market include,
- In October 2021, Brandmotion LLC, an automotive safety technology business, announced a partnership with DENSO products and services Americas to provide one-stop shopping for cities looking to outfit their vehicles with innovative V2X technology.
- In October 2021, Infineon Technologies announced the release of the SLS37 V2X hardware security module (HSM) and plug-and-play V2X security solutions.
Some of the prominent players and suppliers operating and contributing significantly to the global automotive V2X market growth include Qualcomm Technologies, Inc., NXP B.V., Autotalks, Cohda Wireless, Askey Computer Corp., Applied Information, Inc., HARMAN International, Commsignia Ltd., Danlaw, Inc., The Ford Motor Company, General Motors, Infineon Technologies AG, Continental AG, Cisco Systems Inc., and Robert Bosch GmbH, among others.
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RationalStat has segmented the global automotive V2X market based on type, application, wireless communication technology type, vehicle type, component and region
- Global Automotive V2X Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Vehicle-to-home (V2H)
- Vehicle-to-vehicle (V2V)
- Vehicle-to-infrastructure (V2I)
- Vehicle-to-devices (V2D)
- Vehicle-to-cloud (V2C)
- Vehicle-to-pedestrians (V2P)
- Global Automotive V2X Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Blind Spot Warning
- Intersection Movement Assist
- Lane Change Warning
- Do Not Pass Warning
- Left/Right Turn Assist
- Forward Collision Warning
- Electronic Emergency Brake Light
- Reduced Speed Warning Zone
- Others (Curve Speed Warning, etc.)
- Global Automotive V2X Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Wireless Communication Technology Type
- DSRC
- C-V2X
- Global Automotive V2X Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Vehicle Type
- Passenger Vehicles
- Sedan
- Hatchback
- SUVs
- Crossover
- Luxury
- Commercial Vehicles
- Light Commercial Vehicles
- Medium Commercial Vehicles
- Heavy Commercial Vehicles
- Passenger Vehicles
- Global Automotive V2X Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Component
- On-Board Unit
- Roadside Unit
- Central/Cloud Server
- Application for Communication
- Global Automotive V2X Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Automotive V2X Market
- US
- Canada
- Latin America Automotive V2X Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Automotive V2X Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Automotive V2X Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Automotive V2X Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Automotive V2X Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Automotive V2X Market
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Key Questions Answered in the Automotive V2X Report:
- What will be the market value of the global Automotive V2X market by 2030?
- What is the market size of the global Automotive V2X market?
- What are the market drivers of the global Automotive V2X market?
- What are the key trends in the global Automotive V2X market?
- Which is the leading region in the global Automotive V2X market?
- What are the major companies operating in the global Automotive V2X market?
- What are the market shares by key segments in the global Automotive V2X market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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