The global Automotive V2X Market generated USD 4,870 million in 2017 and is anticipated to grow at a CAGR of 24.1% during the forecast period.
V2X enables vehicles to communicate with other vehicles and infrastructure forming a part of the traffic system around them. V2X includes Vehicle-To-Vehicle, Vehicle-To-Infrastructure, Vehicle-To-Cloud, Vehicle-To-Grid, Vehicle-To-Pedestrian, and Vehicle-To-Device among others. V2V or vehicle to vehicle, enables vehicles to communicate with other vehicles in the vicinity, whereas V2I, or vehicle to infrastructure, enables vehicles to communicate with external systems such as streetlights, buildings, and pedestrians. The technology uses a short-range wireless signal to communicate with compatible systems, and this signal is resistant to interference and inclement weather.
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The demand for automotive V2X has increased owing to increasing need for road safety, and growing demand for luxury vehicles. The growth in global automotive industry and increasing popularity of autonomous vehicles has resulted in market growth. The growing incidences of road accidents, and introduction of stringent government regulations regarding vehicular safety, and initiatives for efficient traffic management further increase the demand for automotive V2X systems in the recent past. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automotive V2X Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Asia-Pacific generated the highest revenue in the automotive V2X market in 2017 owing to increasing disposable income and living standards in the region. The established automotive industry, and strict government regulations regarding road and vehicular safety have resulted in increasing adoption of automotive V2X in the region.
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Competitive Landscape and Key Vendors
The global automotive V2X market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies in the include automotive V2X market Delphi Automotive PLC, Robert Bosch GmbH, NXP Semiconductors, TomTom International B.V., Cisco Systems, Inc., Continental AG, Infineon Technologies, Harman International, Cohda Wireless, and Qualcomm.
- Passenger Vehicles
- Commercial Vehicles
- Cellular Connectivity
- DSRC Connectivity
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
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