The global Automotive Vehicle-to-Everything (V2X) Market is expected to reach USD 110.3 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the increasing need for real-time traffic and incident alerts for public safety, governments initiatives regarding traffic management, due to increasing environmental concerns, intense competition in the car manufacturing market, need for lower fuel wastage, safer roads, and reduced traffic congestion and rise in the use of electronics in vehicles due to digitalization and connected mobility across the automotive industry
The vehicle-to-everything (V2X) communication is the exchange of information from a vehicle to any entity affecting the vehicle, and vice versa. It is the way of communication between entities that incorporates other specific types of communication such as V2N (vehicle-to-network), V2I (vehicle-to-infrastructure), V2P (vehicle-to-pedestrian), V2V (vehicle-to-vehicle), V2D (vehicle-to-device) and V2G (vehicle-to-grid).
Key participants include
Continental AG, Aptiv, Qualcomm Inc., Infineon Technologies AG, Arada Systems Inc, Cohda Wireless Pty, Kapsch TrafficCom, Savari Technologies Pvt. Ltd., Denso Corporation, eTrans Systems, Arada Systems, AutoTalks Ltd., Toyota Motor Corporation, Volkswagen AG, Daimler AG, General Motors Company, and BMW Group, among others.
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Further key findings from the report suggest
The passenger vehicle type is going to have the highest growth in the coming years, and commercial vehicles will continue dominating the market for the next few years.
V2X technology allows passenger and commercial vehicles communicate with each other, making driving safer and efficient for everyone. V2X warns the driver of road hazards, reducing the traffic fatalities and injuries along with the understanding and optimization of traffic flow, reducing the traffic congestion, and the transportation impacts on the environment.
Automated driver assistance is supposed to be the most demanding applications of the devices during the forecast period, due to the features such as obstacle detection, intersection collision warning, lane departure warning, lane change assistance, road departure warning, rollover warning, rear impact warning, forward collision warning, and safety margin for assistance vehicles, safeguarding the lives of the people on-car and the pedestrians.
The growth of electric vehicles is expected to witness the highest growth during the forecast period, due to the adoption of the technology by many vehicle manufacturers.
Vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications, a wireless technology, to witness the highest CAGR of 12.9%. These are based on a Wi-Fi derivative 5.9 GHz dedicated short-range communications, particularly defined for fast-moving objects.
North America dominates the market, and is forecasted to grow at a CAGR of 13.4% in the coming years. This is due to the fact that, North America is the hub for a number of manufacturers of V2X technology and aim for better infrastructure, has no budget constraints due to the region’s high income, favorable government policies and regulations for an effective transportation system.
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For this report, Reports and Data have segmented into the global Automotive Vehicle-to-Everything (V2X) market on the basis of resin type, composite phases, industry vertical, and region:
Vehicle type Outlook (Volume, Thousand units; 2018-2026 and Revenue, USD Billion; 2018-2026)
Communication type Outlook (Volume, Thousand units; 2018-2026 and Revenue, USD Billion; 2018-2026)
Technology type Outlook (Volume, Thousand units; 2018-2026 and Revenue, USD Billion; 2018-2026)
Dedicated Short Range Communication or DSRC Connectivity (WLAN-based)
Cellular Connectivity (C-V2X)
Offering type Outlook (Volume, Thousand units; 2018-2026 and Revenue, USD Billion; 2018-2026)
Propulsion type Outlook (Volume, Thousand units; 2018-2026 and Revenue, USD Billion; 2018-2026)
Electric Vehicle (EV)
Internal Combustion Engine (ICE) Vehicle
Applications Outlook (Volume, Thousand units; 2018-2026 and Revenue, USD Billion; 2018-2026)
Automated Driver Assistance
Intelligent Traffic System
Emergency Vehicle Notification
Passenger Information System
Fleet & Asset Management
Parking Management System
Line of Sight
Non-Line of Sight
Remote Monitoring And Diagnostics
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Latin America
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