The V2X market is projected to grow at a CAGR of 17.61% during the forecast period, to reach a market size of USD 99.55 Billion by 2025. The key factors driving the growth of the market include the rising demand for real-time traffic and incident alerts for increasing public safety, increase in government funds for better traffic management, and the development of connected vehicles.
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The report "V2X Market for Automotive by Communication Type (V2C, V2D, V2G, V2P, V2V and V2I), Offering Type (Hardware and Software), Connectivity Type (DSRC and Cellular), Propulsion Type (ICE and EV), Technology Type, and Region - Global Forecast to 2025"
The V2X market is projected to grow at a CAGR of 17.61% from 2017 to 2025, to reach a market size of USD 99.55 Billion by 2025 from USD 27.19 Billion in 2017.
The major factors driving the growth of the V2X market are the rising demand for real-time traffic and incident alerts for increasing public safety, increase in government funds for better traffic management, and the development of connected vehicles.
Browse 62 market data Tables and 54 Figures spread through 168 Pages and in-depth TOC on "V2X Market for Automotive by Communication Type (V2C, V2D, V2G, V2P, V2V and V2I), Offering Type (Hardware and Software), Connectivity Type (DSRC and Cellular), Propulsion Type (ICE and EV), Technology Type, and Region - Global Forecast to 2025"
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Automated driver assistance-A high growth potential market
The automated driver assistance segment of the V2X market is expected to witness the highest growth during the forecast period.
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V2X communication offers features such as intersection collision warning, obstacle detection, lane change assistance, lane departure warning, rollover warning, road departure warning, forward collision warning, rear impact warning, and safety margin for assistance vehicles. The increasing demand for these features is expected to drive the growth of the automotive V2X market in automated driver assistance.
Electric vehicle-Promising vehicle segments for V2X technology
The electric vehicle segment is expected to witness the highest growth in the V2X market during the forecast period. In 2017, Toyota Prius is the only EV model that has vehicle-to-vehicle communication technology.
The cars can communicate up to 300 m (nearly 1000 feet) in a 360-degree radius.
North America: Largest market for V2X market
North America is estimated to be the largest V2X market during the forecast period. The market growth in the region can be attributed to better infrastructure and high income, favorable policies and regulations by the government, and need for a better and effective transportation system.
The European region is estimated to be the second largest V2X market for automotive during the forecast period. The increasing concerns about the safety of travelers and vehicles on the road have led to the adoption of V2X technology by the European Transport Safety Council (ETSC).
The increasing demand for V2X systems with telematics applications is expected to drive the market in this region.
The report profiles all major players in the V2X market, including Continental (Germany), Qualcomm (US), Delphi Automotive (UK), NXP Semiconductors (Netherlands), and Robert Bosch (Germany). The report also covers a comprehensive study of the key vendors operating in the V2X market.
The evaluation of these vendors has been done by considering various factors such as product development, R&D expenditure, business strategies, and product revenue.
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