Market Research Report
Global V2X Market Research Report - Forecast till 2026
|Published by||Market Research Future||Product code||988639|
|Published||Content info||154 Pages
Delivery time: 1-2 business days
|Global V2X Market Research Report - Forecast till 2026|
|Published: December 2, 2020||Content info: 154 Pages||
According to Market Research Future Analysis, the Global V2X Market in terms of value is estimated to register a 58.84% CAGR during the review period to surpass a value of USD 15,050.0 Million by 2026. Vehicle to Everything (V2X) is a communication system that supports the transfer of information from a vehicle to other components of the traffic system that may affect the vehicle. The V2X technology is intended to enhance road safety, energy accumulation, and traffic capability on the roads. The communication is obtained by transforming data from sensors and other sources travel through high-bandwidth, low-latency, high-reliability links, paving the way to fully autonomous driving.
The global V2X market is expected to register substantial growth during the review period owing to the increase in the sale of EVs and luxury vehicles and the rising deaths due to road accidents. The growth of the major market players is attributed to the market conditions, government support, and industrial development. Thus, the major manufacturers are concentrating on growing their presence and enhancing their services worldwide. The growth of semi-autonomous and autonomous vehicles is set to create lucrative opportunities for market players in the future. However, the rising initial and maintenance cost is estimated to hinder the market growth during the forecast period.
Global Market for V2Xs has been categorized based on Component, Communication Type, and Propulsion.
In terms of Components, the Global Market has been classified into hardware and software. The hardware segment is expected to exhibit a 60.49% CAGR during the review timeframe.
By Communication Type segment, the global market has been segregated into V2C, V2D, V2G, V2P, V2V, and V2I. V2V segment accounted for the largest market contribution. By Propulsion, the global market has been divided into EV and ICE. The ICE segment is expected to register a 56.48% CAGR during the forecast period.
Geographically, the report on the global V2X market has been classified into North America, Europe, Asia-Pacific, and the rest of the world.
Europe is expected to dominate the global V2X market with the largest market share of 38.49% in 2019. The regional market is attributed to the various norms of the European Union regarding vehicle safety, which cause the automotive OEMs and electronic component manufacturers to consistently integrate electronics into automobiles. Germany leads the regional market as the major manufacturers have world-class R&D infrastructure, which enables them to develop cutting-edge technologies and systems and aids in meeting the requirement for mobility in the future.
Asia-Pacific is anticipated to lead the second largest market of the global V2X market followed by North America. As per the China Association of Automobile Manufacturers, China is one of the largest manufacturers and consumers of electric vehicles (EVs) in the world. Additionally, the country's government and related organizations have been investing in promoting the adoption of EVs.
The key players of the global V2X Market research report include Continental AG, Infineon Technologies AG, Robert Bosch GmbH, Delphi Technologies, Denso Corporation, and STMicroelectronics NV.
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