V2X Market Highlights:
The V2X market is driven by various factors such as the growing demand for connectivity features in cars and the ability to carry out vehicle diagnostics. However, the coverage and range limitation of V2X coupled with its slow data transfer is a major restraint in the market. Poor security offered by V2X technology, also acts as a hindrance to the widespread implementation of V2X.
Key Companies analyzed are: Continental (Germany), Qualcomm (US), NXP Semiconductors (Netherlands), Robert Bosch (Germany), and Delphi Automotive (U.K.). In 2016, these companies accounted for a share of the global market.
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V2X is completely dependent on the automotive industry. Thus, the increase or decrease in demand for the automobiles directly has an impact on the market for V2X and other automotive driver assistance systems. The total four wheeler production for the year 2015 was approximately 90 million units, and it is expected to witness further growth and reach more than 100 million units by the year 2020. This becomes a primary factor driving the V2X market, as the interiors of the automobiles have gained prevalence in recent times with numerous technological developments and rapidly increasing disposable income among the consumers. Thus, the growth of the V2X market is expected to go hand in hand with the automotive industry.
The V2X market is currently booming in the Asia Pacific region. Rapidly rising vehicle production in this region is one of the primary driving factors. Improving infrastructure in this region combined with improving living standards have positively impacted the automotive industry as a whole. Increasing incidence of vehicle electrification in the Asia Pacific region is also expected to impact the V2X market positively. Availability of cheap labor in Asia Pacific has also been a critical factor in the V2X market. Additionally rapidly growing automotive infrastructure in this region is expected to lay the groundwork for the rapid development of the automotive sector.
North America and Europe are the two other leading regions, mainly, due to the established automotive industry. The existence of major manufacturers in this region, is also a key driver for the V2X industry. Massive investment in research and development enables manufacturers in this region to develop new techniques and products to tap capitalizing on the future market trends. The automotive industry in the Middle East and South America is at a nascent stage. The market for V2X is expected to have steady growth during the forecast period. These regions are expected to be lucrative in the future with many automotive manufacturers pumping investments to capitalize on the sufficient demand in these regions.
The V2X market has witnessed significant growth in recent times mainly due to the advent of advanced technology in vehicles as advanced driver assistance systems. Rapidly rising safety concerns among individuals and increased emphasis by the insurance companies, the market for V2X is expected to register high growth rate. Increasing demand for vehicles and the corresponding increasing production is expected to have significant contribution in the V2X market. Rapidly developing infrastructure across the globe to accommodate the changing tide in the automotive industry, will have a positive impact on the V2X market. Additionally increasing demand for real-time traffic data and development of connected vehicles, are expected to raise the demand of the market further. With government authorities formulating policies to encourage major automotive manufacturers to push for technological development, the market for V2X is poised for rapid growth during the forecast period.
Major Table Of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimatio
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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