Market Overview

The Global Automotive V2X Market size was valued at USD 1,339.83 Million in 2023 and is projected to grow from USD 1,955.62 Million in 2024 to USD 40,286.11 Million by 2032, exhibiting a CAGR of 45.96% during the forecast period (2024-2032).

Vehicles interaction with the environment and with other vehicles are about to change according to the Automotive Vehicle to Everything(V2X) business in which it is rapidly increasing  importance in the automotive sector. Different communication technologies which allow vehicles to communicate with local infrastructure such as traffic lights(V2I) with pedestrians(V2P) with networks (V2N) and even with cloud services (V2C) are all included as V2X technology. The goal of this complete communication system is to reduce traffic, improve safety on the roads, reduce energy and eventually aid in the development of fully autonomous vehicles.

The power of V2X technology to provide real time data transmission between vehicles and their environment is one of its main features. This data contains information on weather, traffic, road hazards and other variables that may effect on a drivers decision to drive. Vehicles that have access to this data can anticipate possible threats and take precautions to prevent collisions. For a car can alert other cars of any obstructing the road ahead so they get the time for slow down or change lanes and prevent an accident.

V2X technology facilitates better traffic flow. Congestion can be lessened using V2X by allowing communication between cars and other infrastructure such as traffic signals. Vehicles equipped with V2X can receive updates on when traffic lights will change which enables them to modify their speed and prevent needless stops and starts. This results in reduced emissions and increased fuel economy making the transportation system more environmentally friendly.

The development of driverless cars requires the use of V2X technology. These self driving cars require a thorough awareness of their environment in order to function safely and V2X provide the information they require. Autonomous automobiles are able to make intelligent decisions in real time which results in safer and more effective driving by interacting with other cars, the infrastructure and pedestrians.

A greater emphasis on road safety, the trend toward smart cities, and the growing need for advanced driver assistance systems (ADAS) are some of the drivers propelling the growth of the automotive V2X market. Governments all throughout the world are promoting the adoption of V2X technology by establishing guidelines and standards. It is anticipated that the adoption of V2X systems would accelerate due to developments in communication technologies such as 5G.

Market Drivers

Increasing Demand For Advanced Technologies To Address Vehicle Safety Concerns

• Growing difficulty in modern transportation systems and expanding consumer, automaker and government regulatory awareness of road safety are driving up demand for cutting edge technologies to address vehicle safety concerns. Modern safety measures are essential to averting collisions, safeguarding passengers and guaranteeing the security of all road users as cars grow to increase and automated and also  networked. These days new cars are equipped with advanced driver assistance systems(ADAS) including adaptive cruise control, lane departure warnings and automated emergency braking. This demonstrates the industry commitment to lowering human error which is an important factor to road accidents.
• By enabling vehicles to take action to avoid possible hazards technologies like V2X (Vehicle to Everything) connectivity which allows vehicles to talk with traffic infrastructure and with each other in real time and make roads even safer. Government regulations and safety standards which require specific safety features in cars are another factor driving the desire for these technologies. In order to develop new technologies that can anticipate and lower dangers on the road, the car industry is fully spending in research and development. This will make driving safer more everyone.

Development Of Connected Car Technology

• Advance in the automotive sector is connected car technology in allowing the cars to use sophisticated connectivity tools to communicate with one another to their environment and external networks. Technology shares data in real time using a variety of communication channels including Wi-Fi, cellular networks and dedicated short range communication (DSRC). GPS internet connectivity and sensor systems enable connected cars to exchange data on traffic patterns, road conditions and vehicle performance. With the use of technologies like collision avoidance and rapid emergency response connection not only increases safety but also makes driving more enjoyable by providing real time navigation, entertainment . Systems of vehicles can interact with parking meters and traffic signals to improve traffic flow and lessen congestion. Connected car technology is expected to transform transportation, making it safer, more effective and more convenient for everybody as automakers, digital companies and governmental organizations RaNaik continue to inprove connectivity standards and prioritize cyber security. With the continued advancement of cyber security and improved connection standards by automakers, digital companies and governmental organizations connected car technology is poised to revolutionize transportation and make it safer, more effective and more convenient for all.

Market Opportunities

Government support for V2X technology

• Vehicle to Everything or V2X, technology must have the permission of the government in order to be commonly employed and integrated into transportation networks. The introduction of V2X has the potential to decrease traffic congestion increase road safety and help in the development of autonomous vehicles that governments everywhere are aggressively promoting its use through a number of initiatives. Developing standards and legal frameworks to guarantee complete compatibility between various V2X devices and systems is a common task that comes with this assistance. To expedite the adoption of V2X technology, governments may also finance pilot programs, infrastructural improvements and research and development initiatives.
• The expenses of connected with implementing V2X can also be decreased by laws and incentives for manufacturers and customers like tax cut or subsidy. Governments also support collaborations amongst government offices, automakers and digital companies to tackle concerns like privacy, data security and communication dependability. Governments hope to construct safer and more effective transportation networks, which also contribute to the larger objectives of smart city development and sustainable mobility by fostering an environment that encourages innovation and investment in V2X technology.

Market Restraining Factors

Lack Of Infrastructure For Proper Functioning

• One of the main obstacles to the general acceptance and efficacy of V2X (Vehicle to Everything) technology is the absence of the infrastructure required for it to function. Vehicle to vehicle (V2X) systems rely on a robust network of communication infrastructure like high speed data networks, roadside devices and sensors to allow continuous interaction between automobiles, traffic lights and other transportation system components. The current infrastructure may be out of date or insufficiently developed in many locations particularly in less developed or rural areas to support the high speed, low latency connection required for V2X technology to function efficiently.
• The real time data sharing required for safety applications like traffic management and collision avoidance may be limited by this gap. It can be costly to set up and maintain the necessary infrastructure requiring large investments from both the public and commercial sectors. The entire potential of V2X technology including reduced traffic, increased road safety and increased vehicle efficiency may not realize without full and steady infrastructure development in which it would restrict the technology influence on contemporary transportation systems.

Key Industry Developments

In October 2023, Huawei has introduced a complete range of 5.5G solutions, It is anticipated that this will boost the growth of intelligent transportation systems and V2X services.

In February 2023, At the Mobile World Congress (MWC) in Barcelona on February 27, 2023, Qualcomm launched its connected car 5G modem-RF platform. The new Snapdragon Auto 5G Modem-RF Gen 2, part of Qualcomm Technologies' Snapdragon Digital Chassis portfolio, features significant upgrades in 5G technology. This platform aims to enhance in vehicle broadband connectivity and introduces new support for satellite communications within vehicles.

Report Coverage

The report will cover the qualitative and quantitative data on the Global Automotive V2X Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Automotive V2X Market Players 

• Denso Corporation
• Aptiv
• Infineon Technologies AG
• Continental AG
• Qualcomm Technologies, Inc.
• Autotalks Ltd.
• Cohda Wireless
• Kapsch TrafficCom
• Savari Inc.
• Lear Corporation
• LG Electronics
• Ford Motor Company
• Robert Bosch GmbH
• NXP Semiconductors
• Harman International

Market Segmentation 

By Connectivity Type

• DSRC
• Cellular

By Communication Type

• Vehicle-to-Vehicle (V2V)
• Vehicle-to-Infrastructure (V2I)
• Vehicle-to-Pedestrian (V2P)
• Others

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

By Unit Type

• Onboard Unit
• Roadside Unit

Segmentation Analysis

The market scope is segmented because of by Connectivity Type, by Communication Type, by Vehicle Type, By Unit Type.

By Connectivity Type

Based on the Connectivity Type of the market is segmented DSRC, Cellular.

Cellular connectivity has emerged as the industry standard among the various forms of connectivity utilized for V2X (Vehicle to Everything) technologies. The reason for this is because cellular communication is superior to dedicated short range communication in a number of ways (DSRC). Protection, quicker data transfer speeds and greater flexibility are available with cellular connectivity than with DSRC thanks to the developments in 4G LTE and the launch of 5G technology. The vast network architecture of cellular connectivity in which it makes use of already existing cellular towers and networks and is one of its main advantages. This facilitates the integration of V2X technology in a variety of geographical contexts like cities, suburbs and rural areas. DSRC needs its own infrastructure and roadside unit network in which it can be costly and challenging to put up on a big scale.

By Communication Type

Based on the Communication Type of the market is segmented into Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Others.

Vehicle to Vehicle(V2V) has long had the largest share in the V2X(Vehicle to Everything) business. The Mostly due to the fact that V2V communication is essential for raising road safety and lowering collision rates. The Cars can communicate in real time about their position speed and direction because of V2V technology in which also makes advanced safety features like to avidence and lane change assistance possible. V2V communication is a very useful feature in both conventional and self driving cars because it can prevent accidents by providing timely alerts of impending risks. This fact that V2V technology is important for the creation of more advanced V2X applications contributes to its popularity. V2V communication is an essential component of the V2X system and serves as the basis for integrating additional communication types like Vehicle to Pedestrian (V2P) and Vehicle to Infrastructure (V2I). V2V is a major goal for automakers and government organizations because to its direct impact on reducing collisions and increasing safety even though V2I and V2P are becoming more important for bettering traffic management and pedestrian safety.

Regional Snapshots

North America has long been the market leader in the vehicle to everything (V2X) segment. This is mostly due to the regions rapid adoption of cutting edge automotive technologies, robust regulatory support and large infrastructural investments. The United States has become a leader in the integration of V2X technology because of its aggressive efforts to enhance road safety and robust automobile sector. The introduction of this technology in North America has also been accelerated by government initiatives such as the funding of V2X pilot programs and the installation of dedicated short-range communication (DSRC) systems. The region strong concentration of tech and automakers encourages innovation and develops industry standards increasing its hold in the market.

Asia Pacific is expected to grow at the quickest rate in the future V2X industry. There are several reasons behind this quick expansion. Automobile technology and the creation of smart cities are booming in nations like China, Japan and South Korea. One important contributing element is China aggressive push for smart infrastructure and driverless cars as well as its substantial investments in V2X technology. V2X technology is especially important because of the region high population density and growing urbanization which raises the need for improved traffic management and safety measures. The fast expansion of the V2X industry in the Asia Pacific region is also helped by government policies in these nations that encourage the creation of intelligent transportation systems and the construction of telecommunications infrastructure.

Automotive V2X Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions

• How much the global Automotive V2X Market valued?
• Which region has the largest share in 2024 for the global Automotive V2X Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Automotive V2X Market

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Automotive V2X Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: