Leading players profiled in the V2X market include Delphi Automotive (U.K.), Denso (Japan), Robert Bosch (Germany), NXP Semiconductors (Netherlands), Qualcomm (US), Continental (Germany), and others.
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The global V2X market is poised to have an incredible growth at a favorable CAGR over the forecast period (2011-2027). V2X or vehicle to everything technology is an umbrella term for the communication system of a vehicle where information from the sensor or other sources travels through low-latency, high-bandwidth and high-reliability links, thus paving the way for complete autonomous driving. This technology also helps to avoid traffic congestion thereby reducing vehicular emissions and surplus fuel consumption. The various applications of V2X technology include emergency vehicle notification, parking management systems, collision avoidance, intelligent traffic system and other forms of sub-applications. It utilizes a wireless signal of a short-range for communicating with compatible systems. This signal is resistant both to inclement weather and interference. V2X technology benefits in the likes of driver convenience, environmental sustainability, smart mobility, traffic efficiency and road safety.
There are plentiful factors that is boosting the growth of the V2X market. These factors as per the Market Research Future (MRFR) report include growing demand for real-time traffic, rise in government funding for improved traffic management, need for incident alerts for rising public safety, creation of connected vehicles, technological advancements in vehicles such as the advanced driver assistance system, increased emphasis via insurance companies, increasing disposable income and shift in consumers preference from looks and features to mileage of vehicles. On the contrary, lack of infrastructure, cost burden, lack of coverage of cellular connectivity in developing countries, range limitation, slow data transfer and poor security are factors that may impede the V2X market growth over the forecast period.
MRFR report provides an extensive segmental analysis of the V2X market on the basis of communication type, component type and propulsion type.
Based on communication type, it is segmented into V2I, V2V, V2P, V2G, V2D and V2C. Of these, the V2V segment will have the largest share in the market over the forecast period.
Based on component type, the V2X market is segmented into software and hardware. Of these, software will dominate the market over the forecast period.
Based on propulsion type, it is segmented into EV and ICE.
By region, the V2X market covers growth opportunities and latest trends across Middle East and Africa, South America, Asia Pacific, Europe and North America. Of these, the APAC region will domineer the market over the forecast period owing to the region’s rapidly increasing vehicle production, improving infrastructure, improved living standards, growing incidence of vehicle electrification, accessibility of cheap labor and rapidly expanding automotive infrastructure. Europe and North America will also witness a healthy growth over the forecast period owing to the presence of an established automotive industry. Besides, presence of key manufacturers here is also fueling the market growth. Huge investments in R&D activities are helping manufacturers in developing new products and techniques for capitalizing on the market trends in the future. On the contrary, in South America and the Middle East, the automotive sector is at the nascent stage. Here the V2X market is predicted to witness a steady growth over the forecast period. Both these regions are predicted to be highly lucrative in the coming years with several automotive manufacturers investing to capitalize on the regions sufficient demand.
April 2019- Leading automotive company, Ford has announced about its timeline to produce and deploy their first vehicles built with cellular V2X technology. The company is planning to launch this in China by 2021, thereby enabling its cars in directly communicating with the grid, with other vehicles and also cyclists and pedestrians for making roads safer for people. Customers of Ford in China will indeed be the first in receiving the perks of the smart technology that will aid make local streets less congested and safer. Post launch of this C-V2X in China, the automotive company is anticipating introducing this technology to each of its vehicle that is sold in the US beginning in 2022.
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Propulsionology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porter’s Five Forces Model
4.1.1 Bargaining Power Of Suppliers
4.1.2 Bargaining Power Of Customer
4.1.3 Intensity Of Competitor’s
4.1.4 Threat Of New Entrants
5 V2X, By Communication Type
6 V2X, By Component Type
7 V2X, By Propulsion Type
8 V2X, By Region
8.1.1 North America
22.214.171.124 Rest Of Europe
8.1.3 Asia Pacific
126.96.36.199 South Korea
188.8.131.52 Rest Of Asia Pacific
8.1.4 Middle East & Africa
9 Company Landscape
9.1.1 Mergers Acquisitions
9.1.3 Release/New Product Launches
9.1.4 Other (Expansion, Updates, Partnership)
List of Tables:
TABLE 1 EUROPE V2X, BY REGION 2011-2027, ($ MILLION) 19
TABLE 2 EUROPE V2X FOR ICE, BY REGION 2011-2027, (MILLION) 19
TABLE 3 EUROPE V2X FOR EV, BY REGION 2011-2027, (MILLION) 20
TABLE 4 EUROPE V2X FOR HARDWARE, BY REGION 2011-2027, (MILLION) 20
TABLE 5 EUROPE V2X FOR SOFTWARE, BY REGION 2011-2027, (MILLION) 20
TABLE 6 EUROPE V2X FOR V2C, BY REGION 2011-2027, (MILLION) 2
TABLE 7 EUROPE V2X FOR V2D, BY REGION 2011-2027, (MILLION) 21
TABLE 8 EUROPE V2X FOR V2G, BY REGION 2011-2027, (MILLION) 21
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