PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457944
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457944
Automotive V2X Market Size and Share Analysis by Offering, Communication, Connectivity, Vehicle Type, Technology, Unit - Global Industry Demand Forecast to 2030
The automotive V2X market generated revenue of USD 633.8 million in 2023, which is expected to witness a CAGR of 49.9% during 2024-2030, to reach USD 10,225.5 million by 2030. This can be credited to the growing demand for enhanced technology with respect to car safety, rising ecological concerns, and long-term price advantages.
Additionally, the demand is increasing for automatic vehicles, which compels manufacturers to incorporate advanced V2X systems in the vehicles.
Further, government regulations are also being incorporated for road infrastructure and vehicle safety which act as a potent growth driver of the market.
Market Drivers
In the past few years, road accidents and deaths associated with them have increased pressure on countries worldwide to implement advanced technologies to solve and eliminate road safety issues.
According to the WHO, approximately 1.19 million people die globally and 20-50 million people suffer from non-fatal injuries every year.
V2X technology has emerged as a revolutionary solution that has the potential to significantly improve road safety.
Real-time communication among automobiles, surrounding infrastructure, pedestrians, and other road users, becomes simpler through V2X.
Incorporation of 5G and AI Technology in Cellular-V2X (C-V2X) Technology
5G and AI are pivotal for the automotive industry's future, especially in enhancing prediction capabilities crucial for personalized driving experiences.
The integration of 5G and AI assists V2X (vehicle-to-everything) communications more efficiently, leading to essential communications that enhance security and safety while driving.
Cellular-V2X technology plays a critical role in advancing vehicle automation by facilitating communication among roadside equipment, vehicles, and pedestrians.
Software Category Is Growing at a High CAGR
The software category is forecasted to experience a 55% compound annual growth rate (CAGR) from 2024 to 2030 in the market.
This growth can be attributed to the integration of 5G technology and the continuous enhancement of features in vehicles.
The widespread adoption of V2X (vehicle-to-everything) technology is contributing significantly to the increased demand for V2X software solutions.
Vehicle-To-Vehicle (V2V) Category Holds the Largest Market Share
In 2023, on the basis of communication, vehicle-to-vehicle category had the largest industry share, of around 90%. Vehicle-to-vehicle aid in providing other vehicle info to drivers such as location, direction, and speed, and signals them of any possible intimidations such as intersections, heavy traffic, terrain issues and blind spots.
Vehicle-To-Infrastructure Category Is Growing with Fastest Pace
Vehicle-to-infrastructure communication category is showing strong growth, manifested in its CAGR of 53% since 2024 till 2030.
This boost is due to the use of V2I (vehicle-to-infrastructure) technology for enhancing driver assistance systems like smart parking and autonomous driving, providing better traffic lane and parking planning optimally for smoother traffic movement now and into the future.
Commercial Vehicles Category to Experience the Fastest Development
On the basis of vehicle type, the commercial Vehicles category is estimated to experience the highest CAGR, of 54%, over the projection period in the industry. Commercial vehicles cover both heavy and light commercial vehicles like large trucks, buses, and vans. Because of their better capacity than passenger cars, such vehicles are utilized for the transportation of goods or fare-paying passengers.
APAC Is the Market Leader
In 2023, the APAC region dominated the industry, with a revenue share of 60%. APAC has been a developing region for the making of cars in the recent years.
The demand for V2X technology in this region has increased as a result of the population's growing purchasing power and growing concerns regarding the environment.
Outstandingly, South Korea and Japan are ahead in the worldwide electronics industry and are situated to plan V2X arrangements with an upgraded performance at a competitive cost.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by offering
- 1.4.2. Market size breakdown, by communication
- 1.4.3. Market size breakdown, by connectivity
- 1.4.4. Market size breakdown, by vehicle type
- 1.4.5. Market size breakdown, by technology
- 1.4.6. Market size breakdown, by unit
- 1.4.7. Market size breakdown, by region
- 1.4.8. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Offering (2017-2030)
- 6.3. Market Revenue, by Communication (2017-2030)
- 6.4. Market Revenue, by Connectivity (2017-2030)
- 6.5. Market Revenue, by Vehicle Type (2017-2030)
- 6.6. Market Revenue, by Technology (2017-2030)
- 6.7. Market Revenue, by Unit (2017-2030)
- 6.8. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Offering (2017-2030)
- 7.3. Market Revenue, by Communication (2017-2030)
- 7.4. Market Revenue, by Connectivity (2017-2030)
- 7.5. Market Revenue, by Vehicle Type (2017-2030)
- 7.6. Market Revenue, by Technology (2017-2030)
- 7.7. Market Revenue, by Unit (2017-2030)
- 7.8. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Offering (2017-2030)
- 8.3. Market Revenue, by Communication (2017-2030)
- 8.4. Market Revenue, by Connectivity (2017-2030)
- 8.5. Market Revenue, by Vehicle Type (2017-2030)
- 8.6. Market Revenue, by Technology (2017-2030)
- 8.7. Market Revenue, by Unit (2017-2030)
- 8.8. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Offering (2017-2030)
- 9.3. Market Revenue, by Communication (2017-2030)
- 9.4. Market Revenue, by Connectivity (2017-2030)
- 9.5. Market Revenue, by Vehicle Type (2017-2030)
- 9.6. Market Revenue, by Technology (2017-2030)
- 9.7. Market Revenue, by Unit (2017-2030)
- 9.8. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Offering (2017-2030)
- 10.3. Market Revenue, by Communication (2017-2030)
- 10.4. Market Revenue, by Connectivity (2017-2030)
- 10.5. Market Revenue, by Vehicle Type (2017-2030)
- 10.6. Market Revenue, by Technology (2017-2030)
- 10.7. Market Revenue, by Unit (2017-2030)
- 10.8. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Offering (2017-2030)
- 11.3. Market Revenue, by Communication (2017-2030)
- 11.4. Market Revenue, by Connectivity (2017-2030)
- 11.5. Market Revenue, by Vehicle Type (2017-2030)
- 11.6. Market Revenue, by Technology (2017-2030)
- 11.7. Market Revenue, by Unit (2017-2030)
- 11.8. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Offering (2017-2030)
- 12.3. Market Revenue, by Communication (2017-2030)
- 12.4. Market Revenue, by Connectivity (2017-2030)
- 12.5. Market Revenue, by Vehicle Type (2017-2030)
- 12.6. Market Revenue, by Technology (2017-2030)
- 12.7. Market Revenue, by Unit (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Offering (2017-2030)
- 13.3. Market Revenue, by Communication (2017-2030)
- 13.4. Market Revenue, by Connectivity (2017-2030)
- 13.5. Market Revenue, by Vehicle Type (2017-2030)
- 13.6. Market Revenue, by Technology (2017-2030)
- 13.7. Market Revenue, by Unit (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Offering (2017-2030)
- 14.3. Market Revenue, by Communication (2017-2030)
- 14.4. Market Revenue, by Connectivity (2017-2030)
- 14.5. Market Revenue, by Vehicle Type (2017-2030)
- 14.6. Market Revenue, by Technology (2017-2030)
- 14.7. Market Revenue, by Unit (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Offering (2017-2030)
- 15.3. Market Revenue, by Communication (2017-2030)
- 15.4. Market Revenue, by Connectivity (2017-2030)
- 15.5. Market Revenue, by Vehicle Type (2017-2030)
- 15.6. Market Revenue, by Technology (2017-2030)
- 15.7. Market Revenue, by Unit (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Offering (2017-2030)
- 16.3. Market Revenue, by Communication (2017-2030)
- 16.4. Market Revenue, by Connectivity (2017-2030)
- 16.5. Market Revenue, by Vehicle Type (2017-2030)
- 16.6. Market Revenue, by Technology (2017-2030)
- 16.7. Market Revenue, by Unit (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Offering (2017-2030)
- 17.3. Market Revenue, by Communication (2017-2030)
- 17.4. Market Revenue, by Connectivity (2017-2030)
- 17.5. Market Revenue, by Vehicle Type (2017-2030)
- 17.6. Market Revenue, by Technology (2017-2030)
- 17.7. Market Revenue, by Unit (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Offering (2017-2030)
- 18.3. Market Revenue, by Communication (2017-2030)
- 18.4. Market Revenue, by Connectivity (2017-2030)
- 18.5. Market Revenue, by Vehicle Type (2017-2030)
- 18.6. Market Revenue, by Technology (2017-2030)
- 18.7. Market Revenue, by Unit (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Offering (2017-2030)
- 19.3. Market Revenue, by Communication (2017-2030)
- 19.4. Market Revenue, by Connectivity (2017-2030)
- 19.5. Market Revenue, by Vehicle Type (2017-2030)
- 19.6. Market Revenue, by Technology (2017-2030)
- 19.7. Market Revenue, by Unit (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Offering (2017-2030)
- 20.3. Market Revenue, by Communication (2017-2030)
- 20.4. Market Revenue, by Connectivity (2017-2030)
- 20.5. Market Revenue, by Vehicle Type (2017-2030)
- 20.6. Market Revenue, by Technology (2017-2030)
- 20.7. Market Revenue, by Unit (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Offering (2017-2030)
- 21.3. Market Revenue, by Communication (2017-2030)
- 21.4. Market Revenue, by Connectivity (2017-2030)
- 21.5. Market Revenue, by Vehicle Type (2017-2030)
- 21.6. Market Revenue, by Technology (2017-2030)
- 21.7. Market Revenue, by Unit (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Offering (2017-2030)
- 22.3. Market Revenue, by Communication (2017-2030)
- 22.4. Market Revenue, by Connectivity (2017-2030)
- 22.5. Market Revenue, by Vehicle Type (2017-2030)
- 22.6. Market Revenue, by Technology (2017-2030)
- 22.7. Market Revenue, by Unit (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Offering (2017-2030)
- 23.3. Market Revenue, by Communication (2017-2030)
- 23.4. Market Revenue, by Connectivity (2017-2030)
- 23.5. Market Revenue, by Vehicle Type (2017-2030)
- 23.6. Market Revenue, by Technology (2017-2030)
- 23.7. Market Revenue, by Unit (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Offering (2017-2030)
- 24.3. Market Revenue, by Communication (2017-2030)
- 24.4. Market Revenue, by Connectivity (2017-2030)
- 24.5. Market Revenue, by Vehicle Type (2017-2030)
- 24.6. Market Revenue, by Technology (2017-2030)
- 24.7. Market Revenue, by Unit (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Offering (2017-2030)
- 25.3. Market Revenue, by Communication (2017-2030)
- 25.4. Market Revenue, by Connectivity (2017-2030)
- 25.5. Market Revenue, by Vehicle Type (2017-2030)
- 25.6. Market Revenue, by Technology (2017-2030)
- 25.7. Market Revenue, by Unit (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Offering (2017-2030)
- 26.3. Market Revenue, by Communication (2017-2030)
- 26.4. Market Revenue, by Connectivity (2017-2030)
- 26.5. Market Revenue, by Vehicle Type (2017-2030)
- 26.6. Market Revenue, by Technology (2017-2030)
- 26.7. Market Revenue, by Unit (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Offering (2017-2030)
- 27.3. Market Revenue, by Communication (2017-2030)
- 27.4. Market Revenue, by Connectivity (2017-2030)
- 27.5. Market Revenue, by Vehicle Type (2017-2030)
- 27.6. Market Revenue, by Technology (2017-2030)
- 27.7. Market Revenue, by Unit (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Offering (2017-2030)
- 28.3. Market Revenue, by Communication (2017-2030)
- 28.4. Market Revenue, by Connectivity (2017-2030)
- 28.5. Market Revenue, by Vehicle Type (2017-2030)
- 28.6. Market Revenue, by Technology (2017-2030)
- 28.7. Market Revenue, by Unit (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Qualcomm Technologies Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Harman International
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. NXP Semiconductors
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Autotalks Ltd.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Robert Bosch GmbH
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. STMicroelectronics
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Continental AG
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Infineon Technologies AG
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Savari Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Denso Corporation
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
