Automotive Vehicle-to-everything Market

Automotive Vehicle-to-everything Market Outlook 2031

The global automotive vehicle-to-everything market size was valued at USD 2.60 Billion in 2022 and is anticipated to reach USD 52.69 Billion by 2031, expanding at a CAGR of 39.7% during the forecast period, 2023-2031. The growth of the market is attributed to the high demand for automobile safety features.

Vehicle-to-everything (V2X) is a communication system, which allows a vehicle to connect and communicate with other vehicles, infrastructure, and road-users. V2X technology is primarily used to increase energy efficiency, road safety, and traffic efficiency. These advancement in technology have challenged automotive makers to implement automotive V2X offerings, which will offer convenience, enhanced safety, and utility to their customers.

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The COVID-19 outbreak has brought negative impact on the market. Due to the lockdown imposed by governments globally, manufacturing units had to halt their production, which is likely to affect the purchase of vehicles integrated with V2X features. The market is expected to recover soon as several industries resumed their operation owing to subsiding the COVID cases gradually worldwide.

Automotive Vehicle-to-everything Market Trends, Drivers, Restraints, and Opportunities

• Traffic safety offered by V2X is one of the key factors driving the market growth.
• Rising sales of passenger vehicles as well as commercial vehicles integrated with the technology is expected to boost the market growth in the coming years.
• Increasing incidents of cyber-attacks presents a major challenge. This is likely to hinder the market growth during the forecast period.
• High cost associated with deployment is anticipated to hamper the market expansion during the projected period.
• Integration of several communication technologies is projected to create significant growth opportunities for the market in the near future.

Scope of Automotive Vehicle-to-everything Market Report

The report on the global automotive vehicle-to-everything market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Automotive Vehicle-to-everything Market Segment Insights

Vehicle Segment Analysis

Based on vehicles, the global automotive vehicle-to-everything market is bifurcated into commercial vehicles and passenger cars. The passenger cars segment is expected to grow at a rapid pace during the forecast period owing to urbanization and rising living standards.

However, the commercial vehicles segment is anticipated to hold a key share of the market in the coming years due to high travel time compared to passenger cars, which needs more safety features.

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Connectivity Type Segment Analysis

In terms of connectivity types, the market is segregated into cellular connectivity and dedicated short range connectivity (DSRC). The DSRC segment is projected to expand at a considerable CAGR during the forecast period attributed to the cost benefits offered on overall usage.

On the other hand, the cellular connectivity segment is anticipated to account for a major market share during the forecast period due to its secure and robust deployment strategy.

Communication Segment Analysis

On the basis of communication, the global automotive vehicle-to-everything market is segmented into Vehicle-to-network, Vehicle-to-pedestrian, Vehicle-to-infrastructure, Vehicle-to-grid, Vehicle-to-home, and Vehicle-to-vehicle. The vehicle-to-vehicle segment is anticipated to hold significant market share in the coming years owing to the growing stringency in safety regulations related to vehicle safety features.

However, the vehicle-to-network segment is expected to register a considerable CAGR during the forecast period due to resolution in problems, such as reduce emissions caused from traffics and congestions created by traffics.

Regional Outlook

In terms of regions, the global automotive vehicle-to-everything market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period attributed to the ease of adoption of advancement in technology across the region.

However, the market of Europe is anticipated to expand at a rapid pace during the forecast period owing to stringent safety as well as stringent emission norms by governments in the region.

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Segments

The global automotive vehicle-to-everything market has been segmented on the basis of

Vehicles

• Commercial Vehicles
• Passenger Cars

Connectivity Types

• Cellular Connectivity
• Dedicated Short Range Connectivity

Communications

• Vehicle-to-network (V2N)
• Vehicle-to-pedestrian (V2P)
• Vehicle-to-infrastructure (V2I)
• Vehicle-to-grid (V2G)
• Vehicle-to-home (V2H)
• Vehicle-to-vehicle (V2V)

Regions

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

Key Players

• NXP Semiconductors N.V.
• Delphi Technologies
• Qualcomm Technologies International Ltd.
• Continental AG
• STMicroelectronics
• Infineon Technologies AG
• DENSO Corp.
• Robert Bosch GmbH
• Cisco Systems, Inc.
• Harman International Industries, Inc.

Competitive Landscape

Key players competing in the global automotive vehicle-to-everything market are NXP Semiconductors N.V.; Delphi Technologies; Qualcomm Technologies International Ltd.; Continental AG; STMicroelectronics; Infineon Technologies AG; DENSO Corp.; Robert Bosch GmbH; Cisco Systems, Inc.; and Harman International Industries, Inc.

As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives, such as partnerships, collaborations, and mergers & acquisitions.

Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.