Rising concerns regarding safety is the major factor driving growth of the global V2X communication market
Summary of the Report
Global V2X Communication Market, By Communication Type (V2C, V2D, V2G, V2P, V2V, V2I, V2H, and V2N), By Offering Type (Hardware and Software), By Connectivity Type (DSRC and Cellular), By Vehicle Type (Passenger Cars and Commercial Vehicles), By Propulsion Type (ICE and EV), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018 -2026.
Vehicle-to-Everything (V2X) communication technology has become the buzzword in the automotive industry. It is a new communication system that will enable vehicles to communicate with smart infrastructure. It is a key element of autonomous driving and connected cars. It is also designed to reduce fuel consumption and improve safety. It uses wireless communication technology to provide real-time information to drivers and pedestrians. However, it does have its drawbacks. With dense data networks and the use of sensors in cars, Vehicle-to-Everything (V2X) technologies are making our roads safer. For example, the ESP stability system in the car can send messages to other drivers, without ever having to lift a finger. Salt litter services can identify dangerous areas and sprinkle salt where it’s needed. Moreover, if the car is damaged, the car can automatically send an emergency call to let everyone know.
Major players operating in the global V2X communication market include Delphi Technologies, Autotalks Ltd., Qualcomm Technologies, Inc., Continental AG, and Robert Bosch GMBH.
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Key Market Drivers:
The increasing prevalence of vehicles in the world is expected to augment the growth of the global V2X communication market. For instance, according to Hedges & Company, currently, there are more than 1.446 billion vehicles in the world. Vehicle-to-Everything (V2X) communication technology has two modes: low-latency and high-latency. The low-latency mode is a wireless connection and has a range of about a hundred meters. The second mode is the mobile-phone mode. Participating vehicles must be equipped with a SIM card. This data is stored onboard the car in case it loses network reception. When it returns online, it sends corresponding data to other cars. Currently, the Vehicle-to-Everything (V2X) communication technology has two modes. The low-latency mode is a short-range communication and is used for communicating with other vehicles. In addition to the car, the V2X system can connect to other objects, such as pedestrians and other traffic signals. While the latter mode can be useful for preventing accidents, low-latency communication is still very limited. Moreover, increasing product and service launches by key market players are estimated to enhance the growth of the global V2X communication market.
Geographically, the report examines production, consumption, revenue, market share, growth rate, and forecasts for the following regions:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)
Covid-19 Impact Analysis:
During the COVID-19 pandemic, the increasing COVID-positive cases have affected the growth of the global V2X communication market significantly. For instance, according to Financial Express, the Indian auto industry got majorly affected during the pandemic. The pandemic-induced lockdown measures have resulted in the closing down of manufacturing plants. The pandemic also led to the reduction of the gross value chain of several industries in India.
Some of the important questions answered in this report include:
What are the top five V2X Communication Market players?
What will the V2X Communication Market look like in the following years?
Which product and application will dominate the V2X Communication Market?
What are the V2X Communication Market’s drivers and restraints?
Which regional market will represent the highest growth?
What will be the CAGR and market size of the V2X Communication Market over the forecast period?
What is the present market size, what will it be in 2029, and what will be the growth rate?
What are the constraints to market growth?
What market opportunities and risks do the key companies face?
Who are the main competitors, and what is their strategic approach?
What are the market’s entry challenges for new players?
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Detailed TOC of V2X Communication Market Forecast Report:
1 V2X Communication Market Overview
1.1 Product Overview and Scope of V2X Communication Market
1.2 Segment by Type
1.3 Global Segment by Application
1.4 Global Market, Region Wise (2017-2022)
1.5 Global Market Size of V2X Communication Market (2017-2029)
2 Global V2X Communication Market Landscape by Player
2.1 Global V2X Communication Market Sales and Share by Player (2017-2022)
2.2 Global Revenue and Market Share by Player (2017-2022)
2.3 Global Average Price by Player (2017-2022)
2.4 Global Gross Margin by Player (2017-2022)
2.5 Manufacturing Base Distribution, Sales Area and Product Type by Player
2.6 Market Competitive Situation and Trends
3 V2X Communication Market Upstream and Downstream Analysis
3.1 Industrial Chain Analysis
3.2 Key Raw Materials Suppliers and Price Analysis
3.3 Key Raw Materials Supply and Demand Analysis
3.4 Manufacturing Process Analysis
3.5 Market Concentration Rate of Raw Materials
3.6 Downstream Buyers
3.7 Value Chain Status Under COVID-19
4 V2X Communication Market Manufacturing Cost Analysis
4.1 Manufacturing Cost Structure Analysis
4.2 V2X Communication Market Key Raw Materials Cost Analysis
4.3 Labor Cost Analysis
4.4 Energy Costs Analysis
4.5 RandD Costs Analysis
5 Market Dynamics
5.2 Restraints and Challenges
5.3.1 Advances in Innovation and Technology for V2X Communication Market
5.3.2 Increased Demand in Emerging Markets
5.4 V2X Communication Market Industry Development Trends under COVID-19 Outbreak
5.4.1 Global COVID-19 Status Overview
5.4.2 Influence of COVID-19 Outbreak on V2X Communication Market Industry Development
5.5 Consumer Behavior Analysis
6 Research Findings and Conclusion
72. Research Data Source
Market Scale and Segment Analysis:
On the basis of the component, the market is segmented into:
On the basis of the communication type, the market is segmented into:
On the basis of the vehicle type, the market is segmented into:
Light Commercial Vehicle
Medium and Heavy Commercial Vehicle (M&HCV)
On the basis of the Application, the market is segmented into:
Intelligent Traffic System
Parking Management System
Automated Driver Assistance
Emergency Vehicle Notification
On the basis of the Technology, the market is segmented into:
Dedicated Short-range Communications (DSRC)
Cellular Vehicle-to-everything (C-V2X)
On the basis of the region, the market is segmented into:
Middle East and Africa
The size of the global V2X communication market is assessed to grow at a CAGR of 44.2%, owing to the increasing prevalence of vehicles in the world. For instance, according to Naijauto, in 2020, there were around 1.42 billion operational cars in the world, which includes 363 million commercial vehicles and 1.06 billion passenger cars.
North America is expected to dominate the growth of the global V2X communication market, owing to the increasing prevalence of cars in the region. For instance, according to the American Automobile Association, in 2020, there were around 286.9 million registered cars in the United States 2020.
The Asia Pacific is estimated to witness high growth in the global V2X communication market, owing to the increasing prevalence of car manufacturers in the region. For instance, according to the Automobile Association of Upper India, there are over 14,000 automobile companies in India.
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