PUBLISHER: Roots Analysis | PRODUCT CODE: 1883080
PUBLISHER: Roots Analysis | PRODUCT CODE: 1883080
As per Roots Analysis, the global automotive V2X market size is estimated to grow from USD 4.72 billion in the current year USD 185 billion by 2035, at a CAGR of 39.62% during the forecast period, till 2035.

The opportunity for automotive V2X market has been distributed across the following segments:
Type of Connectivity
Type of Communication
Type of Vehicle
Type of Propulsion
Type of Technology
Geographical Regions
Automotive V2X Market: Growth and Trends
According to the World Health Organization (WHO), around 1.19 million individuals die each year due to road accidents. To address these alarming statistics, Vehicle-to-Everything (V2X) technology in the automotive sector has become an essential element. These services utilize cameras, sensors, and wireless technologies to enable communication between the vehicle and the driver. Furthermore, they offer advanced functionalities such as line-of-sight, non-line-of-sight, and vehicle data analytics. Additionally, automated driver assistance can effectively inform the driver about their surroundings and road conditions, as well as operate the vehicle autonomously. It also includes features like fleet and asset management, enabling organizations to monitor their connected vehicles.
The global market for automotive V2X is projected to expand significantly throughout the forecast period, driven by rapid urbanization in developing countries such as China and India. The ease of implementation and well-designed technology have been crucial in shaping the future of automotive connectivity. Moreover, advancements in automotive V2X technology include the progression of cruise control, lane-change assistance, and blind spot detection, which allows vehicles to maintain speed and safely switch lanes. Additionally, these services offer V2X cybersecurity solutions that protect against hacking and data breaches. Furthermore, the exchange of real-time data and automotive IoT applications have propelled the development of V2X communication protocols.
Automotive V2X Market: Key Segments
Based on type of connectivity, the global automotive V2X market is segmented into DSRC and cellular. According to our estimates, currently, the dedicated short-range communications (DSRC) segment captures the majority of the market share. This can be attributed to the user-friendly applications, well-engineered technology, and established data security standards.
Conversely, the cellular segment is expected to grow at a higher CAGR during the forecast period. This is due to its effectiveness in providing connectivity over both low-range and wide-area short-range networks.
Based on type of communication, the global automotive V2X market is segmented into Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Vehicle (V2V) and others. According to our estimates, currently, the vehicle-to-vehicle (V2V) segment captures the majority of the market share. Furthermore, advancements in adaptive cruise control, lane-change assistance, driver assistance systems, and blind spot detection have contributed to the expansion of connected vehicle technologies. However, Vehicle-to-Infrastructure (V2I) segment is expected to grow at a higher CAGR during the forecast period, due to its enhanced safety, convenience, and efficiency.
Based on type of vehicle, the global automotive V2X market is segmented into commercial vehicle, passenger cars and others. According to our estimates, currently, the passenger cars segment captures the majority of the market share. Additionally, this segment is expected to experience a comparatively rapid growth rate during the forecast period, due to its significant demand.
Based on type of propulsion, the global automotive V2X market is segmented into electric vehicles (EVs) and ICE vehicles. According to our estimates, currently, the internal combustion engines (ICE) vehicles captures the majority of the market share. This is due to the fact that most consumers still prefer gasoline-powered cars, driven by ongoing demand for such vehicles. Furthermore, vehicle-to-network systems have been developed to enhance traffic management and control emissions.
On the other hand, the electric vehicle (EV) segment is projected to grow at a higher CAGR during the forecast period. This surge can be attributed to the increasing demand for EVs and their environmentally friendly transportation options.
Based on type of technology, the global automotive V2X market is segmented into automated driver assistance, emergency vehicle notification, fleet & asset management, intelligent traffic system, line of sight, non-line of sight, parking management system, passenger management system and others. According to our estimates, currently, the automated driver assistance segment captures the majority of the market share. This is due to the fact that it uses sensors, cameras, and radars to identify any obstacles or objects present on the road. Moreover, it enhances driving safety and reduces the chances of road accidents.
Based on geographical regions, the automotive V2X market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently Asia captures the majority share of the market. This leadership can be attributed to the adoption of newly introduced technologies and the high number of vehicles present, especially in countries such as South Korea, India, Taiwan, and China.
However, the market in North America is expected to experience a higher compound annual growth rate (CAGR) during the forecast period. Key factors contributing to this growth include favorable automotive V2X solutions for vehicles and investments in automated driver assistance systems, such as those from Tesla.
Automotive V2X Market: Research Coverage
The report on the automotive V2X market features insights on various sections, including:
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