Market Overview:
The global V2X market is expected to grow from USD 1.5 billion in 2018 to USD 7.8 billion by 2030, at a CAGR of 23.9% during the forecast period. The growth of the market can be attributed to the increasing demand for advanced safety features in passenger cars and commercial vehicles, and rising government initiatives for vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication systems. However, high installation cost of V2X systems is restraining the growth of the global V2X market. Based on type, the hardware segment is expected to hold a larger share of the global V2X market during the forecast period. The hardware segment comprises sensors, transmitters/receivers, microcontrollers/processors, and other components used in V2X systems. The increasing demand for advanced safety features in passenger cars and commercial vehicles is drivingthe growth of this segment. Based on application,the passenger car segment isexpectedtogrow at a higher CAGR than thenon-passenger carsegmentduringthe forecastperiod .
Product Definition:
Vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) are two types of Vehicle to Everything (V2X) communication. V2X is a term used to describe the various ways in which vehicles can communicate with each other, other transportation modes, and roadside infrastructure.
The importance of V2X technology is that it has the potential to improve safety on our roads by providing drivers with information about their surroundings that they would not otherwise have. For example, if a car approaching from behind knows that the traffic ahead has come to a stop, it can slow down or even stop itself before reaching the obstruction.
Hardware:
Hardware is the term used to define the physical components of a vehicle. It can be categorized into two types: active and passive. The hardware in a car enables it to communicate with other road users, including pedestrians, cyclists and other vehicles on the road by implementing some or the other form of V2V communication.
Hardware plays an important role in enabling Vehicle-to-Vehicle (V2V) communication between different vehicles on roads as well as between roads.
Software:
Software is the collection of tools and techniques that are used to create, test, modify or destroy any kind of information. In other words, software is all about rules and processes that help in managing data. Software helps in creating a model of real world by simulating it with the use of computers; this process is known as computer simulation or virtual reality.
Application Insights:
The passenger car segment is expected to emerge as the fastest-growing application segment over the forecast period. The increasing need for safety features, such as blind-spot detection and lane departure warning in vehicles, is anticipated to drive the demand for V2X technology in passenger cars. Furthermore, government initiatives aimed at improving road safety are likely to boost market growth over the forecast period. For instance, according to a study conducted by IIHS and Volvo Car Safety Center, about 40% of drivers do not use their turn signal even when they intend to change lanes. Such behavior leads to an accident 1 out of 3 times when a driver does not use his/her turn signal. Such accidents can be avoided if V2X technology is used; therefore, such factors are expected fuel demand in future years.
Commercial vehicles include trucks.
Regional Analysis:
North America dominated the global v2x market in terms of revenue share in 2017. The region is expected to continue its dominance over the forecast period as well owing to early adoption of V2X technology and stringent regulations imposed by government bodies, such as National Highway Traffic Safety Administration (NHTSA), Department of Transportation (DOT) and Environmental Protection Agency (EPA). In addition, growing number of accidents due to traffic congestion is also one major factor that can be attributed for high demand for V2X systems in this region.
Asia Pacific regional market captured a significant revenue share in 2017 owing to increasing road accidents caused due to traffic congestion and rapid urbanization taking place across countries like China, India, Indonesia etc., which has led governments across these countries adopt advanced safety technologies such as V2X system.
Growth Factors:
- Increasing demand for safety and security in vehicles
- Government regulations for vehicle safety and security
- Development of new technologies and applications for V2X communication
- Growing number of partnerships and collaborations among industry players
- Rising demand from emerging markets
Scope Of The Report
Report Attributes
Report Details
Report Title
V2X Market Research Report
By Type
Hardware, Software
By Application
Passenger Car, Commercial Vehicle
By Companies
Continental Automotive, Qualcomm, NXP, Bosch, Delphi, Intel, Infineon, Tomtom, Harman, Nvidia, Autotalks, Cohda Wireless, Daimler, Audi
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
146
Number of Tables & Figures
103
Customization Available
Yes, the report can be customized as per your need.
Global V2X Market Report Segments:
The global V2X market is segmented on the basis of:
Types
Hardware, Software
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Continental Automotive
- Qualcomm
- NXP
- Bosch
- Delphi
- Intel
- Infineon
- Tomtom
- Harman
- Nvidia
- Autotalks
- Cohda Wireless
- Daimler
- Audi
Highlights of The V2X Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- By Application:
- Passenger Car
- Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the V2X Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
V2X is a term used to describe the ability of vehicles and infrastructure to communicate with each other in order to provide enhanced safety, mobility, and convenience. V2X technology can be used for a variety of purposes, such as warning drivers about potential hazards ahead on the road, providing real-time traffic updates, or helping drivers find parking spots.
Some of the key players operating in the v2x market are Continental Automotive, Qualcomm, NXP, Bosch, Delphi, Intel, Infineon, Tomtom, Harman, Nvidia, Autotalks, Cohda Wireless, Daimler, Audi.
The v2x market is expected to grow at a compound annual growth rate of 23.9%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 V2X Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 V2X Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 V2X Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the V2X Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global V2X Market Size & Forecast, 2020-2028
4.5.1 V2X Market Size and Y-o-Y Growth
4.5.2 V2X Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global V2X Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 V2X Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Car
9.10.2 Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Car
10.10.2 Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Car
11.10.2 Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Car
12.10.2 Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Car
13.10.2 Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 V2X Market: Competitive Dashboard
14.2 Global V2X Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Continental Automotive
14.3.2 Qualcomm
14.3.3 NXP
14.3.4 Bosch
14.3.5 Delphi
14.3.6 Intel
14.3.7 Infineon
14.3.8 Tomtom
14.3.9 Harman
14.3.10 Nvidia
14.3.11 Autotalks
14.3.12 Cohda Wireless
14.3.13 Daimler
14.3.14 Audi
