Automotive V2X Communication Market by Connectivity Type (DSRC, Cellular); by Communication Type (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Others); by Vehicle Type (Passenger Cars, Commercial Vehicles); by Unit Type (Onboard Unit, Roadside Unit); and by Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2021 to 2027

The Global Automotive V2X Communication Market was valued at USD 560 Mn in 2020 and is expected to reach USD 6584 Mn by 2027, with a growing CAGR of 42.2% during the forecast period.

Global Automotive V2X Communication Market Definition:

Vehicle-to-everything (V2X) communication is vital to redefine transportation by providing real-time, highly reliable, and actionable insights to enhance safety, mobility, and environmental applications. It enables the exchange of data between vehicles and vehicles infrastructure. The V2X technology is to improve road safety, increase the efficient flow of traffic, and decrease environmental impacts.

Global Automotive V2X Communication Market Dynamics:

The increase in the adoption of connected cars across the globe is one of the major influencing factors that propel the automotive V2X communication market during the forecast period. The connected cars enable vehicles to link with other vehicles, road infrastructure, and the cloud via the V2X technology platform. Connected cars accumulate information from their surroundings and communicate with others and provide real-traffic information to the authorities for improved road management and infrastructure planning. For instance, according to secondary sources, in 2020, the global connected car market generated around USD 54 Bn. Thus, these facts supported the growth of automotive V2X communication market with an increasing penetration of connected cars across the globe.  

The Global Automotive V2X Communication Market Segmentation:

By Connectivity Type

• DSRC
• Cellular

By Communication Type

• Vehicle-to-Vehicle (V2V)
• Vehicle-to-Infrastructure (V2I)
• Vehicle-to-Pedestrian (V2P)
• Others

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

By Unit Type

• Onboard Unit
• Roadside Unit

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Automotive V2X Communication Market Company Profiles and Competitive Intelligence:

• Volkswagen AG
• Continental AG
• General Motors
• Toyota Motor Corporation
• Robert Bosch GmbH
• NXP Semiconductors
• Cisco Systems, Inc.
• TomTom International BV
• HARMAN International
• Denso Corporation
• Capgemini
• Autotalks
• Infineon Technologies AG
• Qualcomm Technologies, Inc.
• STMicroelectronics

Based on the connectivity type, the cellular segment is expected to be the fastest-growing in the automotive V2X communication market during the forecast period owing to the rapid deployment of 5G technology across the globe

Based on the connectivity type, the automotive V2X communication market has been segmented into the DSRC (Dedicated Short-Range Communications), and Cellular. The cellular segment is expected to be the fastest-growing in the automotive V2X Communication market during the forecast period owing to the rapid deployment of 5G technology across the globe. The 5G technology is featured with low latency, higher capacity, and increased bandwidth as compared to 4G. These network developments will have greater impacts on peoples live, work, and play across the globe. Moreover, the cellular segment is cost-effectively associated with the hardware components. Thus, proliferating the growth of the segment during the forecast period.

Based on the communication type, the V2V segment is growing at the highest CAGR during the forecast period due to the increasing safety concerns among individuals and governments

Based on the communication type, the automotive V2X communication market is segmented into Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), and others. The Vehicle-to-Vehicle (V2V) segment is growing at the highest CAGR during the forecast period due to the increasing safety concerns among individuals and governments. For instance, V2V improves vehicle safety through features such as Forward Collision Warning (FCW) and lane changing warning (LCW). V2V communications represent an additional step in helping to warn drivers about impending danger. Thus, proliferating the segment growth of automotive V2X communication market during the forecast period.

Based on region, Europe is expected to witness the largest market share in automotive V2X communication industry during the forecast period

Europe is expected to witness the largest market share in automotive V2X communication industry during the forecast period. The growth in the region is attributed to the highly robust infrastructure facility. Moreover, the presence of prominent players such as Robert Bosch GmbH, Continental AG, Delphi Technologies, along with the large-scale adoption of V2X equipped vehicles propels the market growth. For instance, in March 2020, Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, introduced that a couple of Cellular Vehicle-to-Everything (C-V2X) merchandise from leading automotive and infrastructure suppliers, offering the Qualcomm® 9150 C-V2X Platform, have completed certification according to the European Radio Equipment Directive (“RED”) Certification in Europe, demand for placing radio device on the market. This is a primary breakthrough in the direction of the commercial introduction of C-V2X in Europe. Furthermore, the addition of V2X to the 2025 EuroNCAP roadmap will further boost the automotive V2X communication market growth in the region in the forecast period.

The report also provides an in-depth analysis of automotive V2X communication market dynamics such as drivers, restraints, opportunities, and challenges:

Drivers

• Increasing dependency on the internet
• The emergence of autonomous vehicles
• Increasing government initiatives across the globe

Restraints

• Lack of standardization and shortage of IT resources

Opportunities

• Rapid development in 5G infrastructure

Challenges

• Requirement for a robust legal framework

COVID-19 Impact on the Automotive V2X Communication Market Analysis:

The COVID-19 pandemic has impacted various industries such as oil & gas, retail, manufacturing, and others due to the strict lockdown imposed by the government across the globe. The disruption in the supply chain of products and services impacted the market growth of the various industries. Similarly, the automotive V2X communication market has been negatively impacted by the COVID-19 pandemic due to the standby in the manufacturing plant of the automotive industry. The supply chain of the automotive parts is impacted due to the COVID-19. Moreover, the automotive industry represents the decline in the sales of vehicles in 2020. For instance, according to the International Organization of Motor Vehicle Manufacturers, 2020, the global auto production in 2020 is majorly impacted by the COVID-19 pandemic with a 16% drop in the world auto production. However, government initiatives across the globe to support EVs, connected cars, and autonomous vehicles will provide a lucrative opportunity for the growth of V2X technologies in the coming years.

*Note: A detailed analysis is specific to the automotive V2X communication market will be provided in the report

The report also provides an in-depth analysis of key trends in the automotive V2X communication market:

• The growing concerns related environment and increasing growth of EV (Electric Vehicles) propel the market growth
• The emergence of connected cars and autonomous vehicles is the key trend that influences the demand for V2X (Vehicle to Everything) technology

The report also provides an in-depth analysis of recent news developments and investments:

• In January 2021, EMnify (Germany) has enabled smart V2X communication and traffic telematics studies at TU Dresden. Their goal is in accumulating and sending environmental, traffic, and vehicle information to the university research data centre from a vehicle fleet the usage of their information-collecting devices. The final aim is in post-processing these records for uncovering new applications and precious insights.
• In January 2021, CES 2021 ArcRAN (Taiwan) has developed complete cybersecurity solutions for V2X/IoT sites. The core features of iSecV and iSecMaster which are based on device learning algorithms encompass risk evaluation, attack simulation, and cybersecurity analysis.

The unique insights provided by this report also include the following:

• In-depth Value Chain Analysis
• Opportunity Mapping
• Sector Snapshot
• Key Players Positioning Matrix
• Regulatory Scenario
• Strategies Adopted-benchmarking Heat Map
• Market Trends
• Covid-19 Impact Analysis
• Product Comparison
• Pre & Post COVID-19 Impact on the Automotive V2X Communication Market
• Competitive Landscape

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