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Vehicle-to-Everything (V2X) Market Size, Share, Regional Trend, Future Growth, Leading Players Updates, Industry Demand, Current and Future Plans by Forecast 2021 to 2028

7Newswire

The global vehicle-to-everything (V2X) market is projected to reach a market size of USD 11.27 Billion by 2028 and register a robust CAGR during the forecast period, according to latest analysis by Emergen Research. Growing demand for vehicle-to-everything can be attributed to rising demand for autonomous cars and vehicles with more advanced safety features, especially in developed economies. Implementation of vehicle-to-everything communication increases drivers’ awareness about the surroundings and aids in facilitating autonomous driving. V2X assists in communicating information such as speed accuracy, brake pedal status, and heading. It also warns autonomous vehicles regarding nearby objects that are not directly visible (non-line-of-sight), which is a crucial feature for vehicle safety and for facilitating better decisions by autonomous cars.

High incidence of road accidents is a significant factor driving demand for vehicle-to-everything communication. V2X communication help in accident prevention by warning the driver about a potential risk or object that may not be in line-of-sight of human vision or visible to other sensors. V2X reduces risk and vulnerability of drivers, especially motorcyclists and pedestrians, and improves their safety by providing real-time alerts about their location in related situations.

The report takes a closer look at the historical and current market scenarios to accurately predict the global Vehicle-to-Everything (V2X) market outlook over the forecast duration (2021-2028). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments. The report provides crucial details, such as the market shares of the key players, which help the reader attain a comprehensive outlook of the Vehicle-to-Everything (V2X) market.

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 Competitive Outlook:

The global Vehicle-to-Everything (V2X) market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector.  The global Vehicle-to-Everything (V2X) market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.

Some of the key participants in this industry include:

  • Continental AG, Infineon Technologies AG, Robert Bosch GmbH, NXP Semiconductors, Harman International, Delphi Technologies, Qualcomm Technologies Inc., DENSO Corporation, Autotalks Ltd., and STMicroelectronics.

 Emergen Research has segmented the global vehicle-to-everything (V2X) market on the basis of communication type, application, connectivity, and region:

    Communication Type Outlook (Revenue, USD Million; 2018–2028)

  • Vehicle-to-Vehicle (V2V)
  • Vehicle-to-Pedestrian (V2P)
  • Vehicle-to-Infrastructure (V2I)
  • Vehicle-to-Cloud (V2C)
  • Vehicle-to-Device (V2D)
  • Vehicle-to-Grid (V2G)
  • Others

    Application Outlook (Revenue, USD Million; 2018–2028)

  • Automated Driver Assistance
  • Emergency Vehicle Notification
  • Intelligent Traffic Systems
  • Passenger Information System
  • Fleet and Asset Management
  • Parking Management System
  • Others

    Connectivity Outlook (Revenue, USD Million; 2018–2028)

  • Dedicated Short Range Communication (DSRC)
  • Cellular V2X

Key regions covered in the report:

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

 Get More Information At: https://www.emergenresearch.com/industry-report/vehicle-to-everything-market

Key Highlights of Report

  • In June 2019, HARMAN International launched the Dual-Mode V2X system, intended for improving automotive safety.
  • Vehicle-to-infrastructure segment held a significant revenue share in 2020. V2I is capable of lane and congestion management and helps in fuel efficient consumption and reduced emissions. It has been estimated that optimized freeway lane management and signal operations can result in fuel savings to a maximum of 22.0%.
  • Intelligent traffic systems are immensely benefitted with vehicle-to-everything communication, which helps in improving traffic efficiency. Vehicles optimize their arrival by obtaining traffic light green signal cycle, and even traffic lights adjust on the basis of feedback received from arriving vehicles.
  • Revenue from the vehicle-to-everything market in Asia Pacific is projected to register a comparatively faster rate than other regional markets during the forecast period. This rapid growth rate can be attributed to various government initiatives for urban infrastructure digitalization in countries in the region. Besides, rising smartphone penetration and growing concerns about on-road vehicle and driver safety are other factors driving market growth.

Market Drivers:

The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.

Valuable Market Insights:

  • The report highlights the latest trends observed in the consumption pattern of each regional segment.
  • Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
  • The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Vehicle-to-Everything (V2X) market.
  • The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.

 Questions addressed in the report:

  • What is the estimated market growth rate throughout the forecast period?
  • Which end-use industry is expected to witness the highest demand for Vehicle-to-Everything (V2X) in the near future?
  • What is the regulatory framework governing the application of Vehicle-to-Everything (V2X) in the food industry?
  • Which manufacturing processes are utilized for the production of Vehicle-to-Everything (V2X)?

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