Vehicle-to-everything (V2X) Market Global Review From 2017 to 2022 of 168 pages added by reports and reports explores Global V2X Market size, trends, demand, share, growth, industry, and companies’ analysis to 2022. According to study global V2X Market reaching $2,815.5 million at a CAGR of 29.69% by 2022. The benefits of V2I communication such as decrease in number of accident by notifying the drivers about the information obtained through the communications between the vehicles and sensors installed on the road and efficient traffic management are the major factors expected to drive the automotive V2I market.
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Augmented and Virtual Reality in Healthcare Company analysed in report are Continental AG (Germany), Qualcomm Inc. (U.S.), Daimler AG (Germany), Delphi Automotive PLC (U.K.), Infineon Technologies AG (Germany), Audi AG (Germany), Intel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), TOMTOM N.V. (Netherlands), IBM Corporation (U.S.), Cisco Systems Inc. (U.S.), AT&T Inc. (U.S.), Vodafone Group (U.K.), Robert Bosch GmbH (Germany), NVIDIA Corporation (U.S.), Mobileye N.V.
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(Israel), Harman International Industries (U.S.), PTC Inc. (U.S.), Autotalks Ltd. (Israel), and Cohada Wireless (Australia).
The factors restraining the market include lack of cellular coverage in developing countries, cost burden on consumers, and lack of infrastructure in the automotive V2X market.
“Vehicle-to-infrastructure systems is expected to grow at the highest rate for the automotive V2X market”
Automotive V2I is expected to grow at the highest rate. The benefits of V2I communication such as the decrease in the number of accident by notifying the drivers about the information obtained through the communications between the vehicles and sensors installed on the road and efficient traffic management are expected to drive the automotive V2I market.
In August 2016, Audi announced that it would launch the first V2I technology called Traffic light information on selected models such as Audi Q7, A4, and A4 in the U.S. by early 2017.
“Passenger vehicles are expected to hold the largest market and grow at the highest rate”
The passenger vehicles segment is expected to hold the largest market and is also expected to grow at the highest rate owing to the fact that there are many passenger vehicle companies such as General Motors (U.S.), Mercedes Benz-maker Daimler (Germany), BMW (Germany), Audi AG (Germany), and Volkswagen AG (Germany) working towards the commercialization of V2X communication technology.
“Automotive V2X market in Asia-Pacific is expected to grow at the highest rate”
Asia-Pacific is expected to grow at the highest rate in the automotive V2X market. This region has emerged as a hub for automotive production; OEMs and suppliers have set up production facilities to cater to the growing demand for automobile in the market.
This region houses established automakers such as Toyota Motor Corporation (Japan), Hyundai Motor Company (South Korea), and Honda Motor Company (Japan). One of the key drivers for the Asia- Pacific region is the increased demand for telematics and driver assistance.
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The automotive V2X market has been segmented on the basis of offerings, communication type, vehicle type, connectivity type, application, and geography. The market based on offering has further been segmented into hardware and software.
The market based on communication type includes vehicle-to-vehicle, vehicle-to-vehicle, vehicle-to-infrastructure, vehicle-to-pedestrian, vehicle-to-grid, vehicle-to-home, and vehicle-to-network. The market based on connectivity type includes DSRC and cellular.
The market based on vehicle type includes passenger vehicles and commercial vehicles. The applications for automotive V2X are automated driver assistance, intelligent traffic system, emergency vehicle notification, passenger information system, fleet and asset management, parking management system, remote monitoring and diagnostics, and predictive maintenance.
The market has been segmented on the basis of geography into North America, Europe, Asia-Pacific, and Rest of the World.
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This report segments the automotive V2X market comprehensively and provides the closest approximations of the market sizes for the overall market and sub-segments across the different applications and regions. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.