Vehicle-to-Everything (V2X) Communications System Market to Register 36.85% CAGR Through 2027 | Key Drivers and Opportunities
MarkNtel Advisors recently published a detailed industry analysis of the Global Vehicle-to-Everything (V2X) Communications System Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Vehicle-to-Everything (V2X) Communications System Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2027
The Vehicle-to-Everything (V2X) Communications System Market is projected to grow at a CAGR of around 36.85% during the forecast period, 2022-27.
What are the major Driver the Global Vehicle-to-Everything (V2X) Communications System industry?
Rising Focus of Government Institutions to Integrate V2X Technology to Aid the Market Growth- The significant rise in industrialization, urbanization, and an increase in vehicle ownership rates across North America, Asia-Pacific, Europe, and the Middle East & Africa has notably increased accidents & emission rates. Moreover, a surge in the depletion of fossil fuel reserves and heightening prices of crude have raised concerns among the international government organizations to shift toward sustainable mobility solutions. This fueled the demand for electric and autonomous vehicles across the globe owing to their fuel efficiency & ability to minimize road accidents, owing to the deployment of advanced safety systems and sensors.
- In 2021, the Government of Korea announced the initiation of a C-ITS, a Cooperative Intelligent Transport System rollout in 44 cities & national expressways, which includes the integration of V2X technologies. With the release, the Korean government intends to complete the C-ITS deployment across the entire expressways network, covering a length of 4075 Km by 2025.
These initiatives launched by the national and international government organizations would substantially support the demand for Vehicle-to-Everything (V2X) Communication systems in the forecast years.
Key Findings in Global Vehicle-to-Everything (V2X) Communications System Market:
- Historical Analysis: 2017 –2020
- Base Year: 2021
- Forecast Period: 2022-2027
Leading Market Players- Autotalks Ltd., Continental AG, HARMAN International, Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies, Inc., Robert Bosch GmbH, STMicroelectronics, Cohda Wireless, Others
Key Highlights of the Report
- Market Dimensions And Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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What segments define the Global Vehicle-to-Everything (V2X) Communications System Market from 2022 to 2027? How do these segments contribute to market dynamics and growth?
By Vehicle Type
- Passenger
- Commercial
According to report, Of them all, the Passenger Vehicles captured a major market share in the Global Vehicle-to-Everything (V2X) Communication Systems market during 2017-21, owing to a significant increase in the vehicle ownership rates across North America, Europe, Asia-Pacific, and the Middle East & Africa.
By Connectivity
- Dedicated Short Range Communication (DSRC)
- Cellular-V2X (C-V2X)
According to report, Here, the Dedicated Short Range Communication (DSRC) captured a considerable share in the Vehicle-to-Everything (V2X) market during 2017-21 & is expected to continue the same trend in the forthcoming years.
By Technology
- Vehicle-to-Vehicle
- Vehicle-to-Infrastructure
- Intelligent Traffic System
- Emergency Vehicle Notification
- Passenger Information System
- Fleet & Asset Management
- Parking Management System
- Vehicle-to-Pedestrians (V2P)
- Others (Vehicle-to-Grid, Vehicle-to-Device, etc.)
According to report, Among them, vehicle-to-vehicle technology is expected to gain a significant share in the global V2X market during the forecast period. Increased mandates by the European Union & the US government to implement Advanced Driving Assistance Systems (ADAS) such as sensors, cameras, and data recorders will contribute immensely to the market growth.
By Demand Type
- OEMs
- Aftermarkets
According to report, Of them all, the OEMs acquired a major share in the Global Vehicle-to-Everything Communication Systems market during the historical period
By Vehicle Autonomy
- Autonomous
- Semi-Autonomous
By Component
- Hardware
- On-board Units (OBU)
- Roadside Units (RSU)
- Others (Antenna, Evaluation Kits, etc.)
- Software
- V2X Software Stack
- V2X Software Development Kit
Explore the Complete Global Vehicle-to-Everything (V2X) Communications System Market Analysis Report – https://www.marknteladvisors.com/research-library/vehicle-to-everything-v2x-communications-system-market.html
Geographical Analysis: Global Vehicle-to-Everything (V2X) Communications System Market
By Region
- North America
- Europe
- Middle East & Africa
- Asia-Pacific
Global Vehicle-to-Everything (V2X) Communications System Industry Recent Development:
- In 2021, Infineon technologies, Inc. announced the launch of the SLS37 V2X hardware security module (HSM), which is a plug-and-play security solution for vehicle-to-everything communication (V2x). The new module is a highly secured & tamper-resistant microcontroller tailored to the security needs in V2X applications within telematics control units.
- In 2020, Cohda announced to update its C-v2X Software Development Kit that features an extensive range of useful applications & tools, as well as a virtual simulation tool (vsim).
- In 2019, Harman International unveiled a new Dual-Mode V2X system aimed at enhancing automotive safety that features both hardware & software.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Global Vehicle-to-Everything (V2X) Communications System?
- How is the Global Vehicle-to-Everything (V2X) Communications System expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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