Market Research Report
Automotive Vehicle-to-Everything Market, By Communication Type, By Offerings, By Connectivity Type, By Vehicle Type, By Application, and Geography - Analysis, Share, Trends, Size, & Forecast From 2020 - 2026
|Published by||AnalystView Market Insights||Product code||930141|
|Published||Content info||201 Pages
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|Automotive Vehicle-to-Everything Market, By Communication Type, By Offerings, By Connectivity Type, By Vehicle Type, By Application, and Geography - Analysis, Share, Trends, Size, & Forecast From 2020 - 2026|
|Published: March 1, 2020||Content info: 201 Pages||
Automotive Vehicle-to-Everything (V2X) Market was valued at USD 6.41 billion by 2019, growing with 24.8% CAGR during the forecast period, 2020-2026
Vehicle to everything (V2X) ensures road safety by implementing advanced technology. It works on the concept of an intelligent transport system (ITS) and is being used for managing traffic. This technology allows vehicles to interact with their neighboring vehicle, pedestrian, or even other vehicles which are not in sight.
The tremendous growth in the automobile sector is anticipated to drive the market of V2X in the near future. Automated vehicles running on the road is likely to meet an accident in case they are unable to detect any human-driven vehicle crosses it. The growing need for semi-automated vehicles operated by an advanced driver assistance system along with the rising efforts of manufacturers to come up with autonomous vehicles will drive the market during the forecast period. However, the need for better infrastructure and cost burden on consumers may restrict the market growth in the near future.
Communication Type Takeaway
Based on the communication type, the market is segmented into (Vehicle-To-Vehicle (V2V), Vehicle-To-Infrastructure (V2I), Vehicle-To-Pedestrian (V2P), Vehicle-To-Home (V2H), Vehicle-To-Grid (V2G), and Vehicle-To-Network (V2N)).
Among these, V2I, V2V, and V2P are expected to grab maximum market share during the forecast period. V2I allows wireless connection for exchanging operational data of infrastructure, and vehicles. Its aim is not only to avoid any mishap but also take care of other safety and environmental concerns. V2V connection enables data exchange among vehicles present in the nearby vicinity. It is most appropriate for short-range networks. Emergency brake light warning, do-not-pass warning, forward collision warning are some of the important functions of V2V. V2P detects the presence of a pedestrian present on-road or nearby area. This system warns the driver regarding pedestrian. In V2P, the hand device is used by the pedestrian, which is just like a smartphone. This device allows data exchange between the pedestrian and vehicle.
Based on offerings, the industry is segregated into hardware and software. Among this, the software segment is anticipated to show its dominance in the near future. This segment has the potential to grow at a significant rate, and this change in dynamics makes it imperative for business persons to stay ahead with this market change.
Connectivity Type Takeaway
As per connectivity, the industry is divided into Dedicated Short Range Communication (DSRC), and Cellular Connectivity. DSRC is expected to lead the market. The main benefit of DSRC is it improves flexibility and accident avoidance. A car with a DSRC facility can detect pedestrians carrying DSRC-enabled smartphone. It can determine the speed and direction of the pedestrian.
Vehicle Type Takeaway
Based on the vehicle, the market is bifurcated into passenger and commercial vehicles. The rising preference of consumers for passenger vehicles will accelerate this segment at a remarkable rate in the near future. V2X technology enables both passengers and commercial vehicles to interact with each other to avoid road hazards and traffic fatalities.
On the basis of application, the industry is categorized into Predictive Maintenance, Intelligent Traffic System, Parking Management, Emergency Vehicle Notification, Automated Driver Assistance, Remote Monitoring, and Fleet and Asset Management.
Automated Driver Assistance is expected to flourish in the near future. This is because of its offerings like obstacle detection, lane change assistance, rollover warning, intersection collision warning, and so on. The popularity of these features is expected to witness the growth of V2X in automated driver assistance.
North America is projected to capture the highest V2X market during the forecast period. The credit of this growth in this region goes to better infrastructure, speeding technological advancement, government policies, and an increase in disposable income. The European countries are estimated to have the second-largest market of V2X. The accelerating popularity of V2X with telematics applications is anticipated to drive the market.
The leading companies of this industry include Continental AG, HARMAN International, NXP Semiconductors, Delphi Automotive LLP, Cisco Systems, Inc., Qualcomm, Inc., Infineon Technologies AG, Robert Bosch GmbH, Mobileye, and TomTom International B.V.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year - 2014 & 2016
Base Year - 2017
Estimated Year - 2020
Projected Year - 2026
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
Delphi Automotive LLP
Cisco Systems, Inc.
Infineon Technologies AG
Robert Bosch GmbH
TomTom International B.V.
MARKET, BY COMMUNICATION TYPE
MARKET, BY OFFERING
MARKET, BY CONNECTIVITY TYPE
Dedicated Short Range Communication
MARKET, BY VEHICLE TYPE
MARKET, BY APPLICATION
Fleet and Asset Management
Emergency Vehicle Notification
Intelligent Traffic System
Automated Driver Assistance
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
Vehicle-To-Infrastructure (V2I) market size forecast and trend analysis, 2015 to 2026 (USD Million)