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Vehicle to Everything (V2X) Market by Component (Hardware, Software) by Communication (Vehicle-to Device (V2D), Vehicle-to-Cloud (V2C), Vehicle-to-Grid (V2G), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Vehicle (V2V)), by Connectivity (Cellular, DSRC), by Vehicle Type (Passenger car, Commercial vehicle): Growth, Future Prospects, and Competitive Analysis, 2015 – 2027

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Published: | Report ID: 11580 | Report Format : PDF

V2X Market Insights

The automobile industry is shifting toward producing vehicles that are more environmentally sustainable. Vehicles should be able to interact with infrastructure and Internet-based networks. The term “vehicle-to-everything” (V2X) has been coined to describe the cases such as vehicle to vehicle, vehicle to infrastructure, vehicle to cloud etc. Many application scenarios are becoming a reality as a result of advancements in electronics, sensor technologies, and computing approaches such as machine learning and computer vision. New vehicles equipped with V2X can play a major role in avoiding collisions with oncoming traffic, assisting with emergency braking, and monitoring intersections. The V2X market was valued at US$ 1,044.5 million in 2020, and it is expected to reach over US$ 13,404.1 million by 2027. The market is expected to grow at a CAGR of 44% over the forecast period.

Vehicle to Everything (V2X) Market

Interesting Facts of V2X Market

  • The number of road accidents, resulting in the loss of life and property, is increasing, which is a key growth factor for the V2X market. Every year, approximately 1.2 million people are killed and 20-50 million are injured in motor vehicle accidents
  • Rising disposable income, employment rates, and total GDP are encouraging innovations like smart cities with smart infrastructure, which will benefit the V2X market
  • Falling automobile sales and the closure of manufacturing plants due to covid-19 have hampered market growth.
  • Throughout the forecast period, the North American V2X market will lead the revenue share backed by strong demand from U.S.
  • The V2X market in Europe is expected to grow at the fastest rate during the forecast period
  • Cellular-V2X testing and deployments are expected to increase over the forecasted timeframe
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The market’s growth can be attributed to growing public and government concerns about road traffic accidents around the world. According to the National Highway Traffic Safety Administration, V2V communications could prevent 615,000 road accidents. Another major factor driving the growth of the automotive V2X market is the increase in environmental pollution caused by transportation, as V2X is expected to increase vehicles fuel efficiency  optimizing traffic flow and thus reducing pollution. V2X would be critical in reducing fuel consumption. Traffic congestion alone consumes 15 billion litres of gasoline in the United States each year (according to the US EPA).

COVID-19 Impact

COVID-19’s global ramifications are already being felt, and the automotive V2X sector will be significantly impacted by 2020. There are fears that the lockdown will be extended, causing manufacturing to suffer across the board, particularly in the automotive industry. Manufacturing facilities around the world have halted production as a result of the imposed shutdown, which is likely to have an impact on the purchase of vehicles with V2X capabilities. The COVID-19 issue has caused market instability, supply chain disruption, company loss, and increased client anxiety. Several governments have already declared a total lockdown and a temporary halt to industry, resulting in a decrease in overall output and sales. As a result, the global spread of the COVID-19 pandemic has had a negative impact on the global vehicle V2X market.

In terms of connectivity, the cellular segment is expected to be the fastest-growing segment in the market.

The market is divided into two segments based on connectivity: cellular and DSRC. Throughout the projection period, the cellular connection category is predicted to increase at the fastest CAGR. 5G technological advancements will enable the implementation of 5G-V2X applications, which are projected to improve cyber security and the processing of a high number of messages in congested traffic conditions. Another element that might increase the cellular business is the cost of hardware components. The DSRC portion necessitates the purchase of extra hardware components to offer V2P communication, making it more costly than C-V2X. In January 2019, Audi, Ducati, and Ford exhibited C-V2X technology. As a result of such advancements, the commercialization of C-V2X technology would be accelerated.

Europe is expected to grow with the highest CAGR throughout the forecast period.

Europe is expected to grow with the highest CAGR throughout the forecast period. Stringent safety and environmental regulations govern the European automotive industry. According to the European Environment Agency, automobile emissions continue to be the largest source of greenhouse gas emissions in the EU. As safety regulations tighten, technologies that use V2V communication, such as adaptive cruise control and blind-spot detection, will become mandatory, allowing the vehicle V2X sector to thrive.

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Global V2X Market key Players:

Autotalks LTD., Cohda Wireless, Continental AG, Delphi Technologies, Denso Corporation, Harman International, Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies, Inc., Robert Bosch GmbH, Savari, Inc., Stmicroelectronics are some of the major competitors in the global V2X market. The major strategy employed by top firms in the automotive V2X industry is the introduction of new products. Qualcomm Technologies introduced the Qualcomm® C-V2X reference platform for car and roadside units in January 2020. (RSUs). This device is designed to provide processing power as well as message security, among other things.

1.Preface

1.1.Report Description
1.1.1.Purpose of the Report
1.1.2.Target Audience
1.1.3.USP and Key Offerings
1.2.Research Scope
1.3.Research Methodology
1.3.1.Phase I – Secondary Research
1.3.2.Phase II – Primary Research
1.3.3.Phase III – Expert Panel Review
1.3.4.Approach Adopted
1.3.4.1.Top-Down Approach
1.3.4.2.Bottom-Up Approach
1.3.5.Assumptions
1.4.Market Segmentation

2.Executive Summary

2.1.Market Snapshot: Global V2X Market

3.Market Dynamics& Factors Analysis

3.1.Introduction
3.1.1. Global V2X Market Value, 2015-2027, (US$ Mn)
3.2.Market Dynamics
3.2.1.Key Growth Trends
3.2.2.Major Industry Challenges
3.2.3.Key Growth Pockets
3.3.Attractive Investment Proposition,2020
3.3.1.Component
3.3.2.Communication
3.3.3.Connectivity
3.3.4.Vehicle Type
3.3.5.Geography
3.4.Porter’s Five Forces Analysis
3.4.1.Threat of New Entrants
3.4.2.Bargaining Power of Buyers/Consumers
3.4.3.Bargaining Power of Suppliers
3.4.4.Threat of Substitute Applications
3.4.5.Intensity of Competitive Rivalry
3.5.Value Chain Analysis

4.Market Positioning of Key Players, 2020

4.1.Company market share of key players, 2020
4.2.Top 3 Players
4.3.Major Strategies Adopted by Key Players

5.COVID 19 Impact Analysis

5.1.Global V2X Market Pre Vs Post COVID 19, 2019 – 2027
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply

6.North America

6.1.North America V2X Market, by Country, 2015-2027(US$ Mn)
6.1.1.U.S.
6.1.2.Canada
6.2.North America V2X Market, by Component, 2015-2027(US$ Mn)
6.2.1.Overview
6.2.2.Hardware
6.2.3.Software
6.3.North America V2X Market, by Communication, 2015-2027(US$ Mn)
6.3.1.Overview
6.3.2.Vehicle-to Device (V2D)
6.3.3.Vehicle-to-Cloud (V2C)
6.3.4.Vehicle-to-Grid (V2G)
6.3.5.Vehicle-to-Infrastructure (V2I)
6.3.6.Vehicle-to-Pedestrian (V2P)
6.3.7.Vehicle-to-Vehicle (V2V)
6.4.North America V2X Market, by Connectivity, 2015-2027(US$ Mn)
6.4.1.Overview
6.4.2.Cellular
6.4.3.DSRC
6.5.North America V2X Market, by Vehicle Type, 2015-2027(US$ Mn)
6.5.1.Overview
6.5.2.Passenger car
6.5.3.Commercial vehicle

7.Europe

7.1.Europe V2X Market, by Country, 2015-2027(US$ Mn)
7.1.1.UK
7.1.2.France
7.1.3.Germany
7.1.4.Italy
7.1.5.Russia
7.1.6.Spain
7.1.7.Rest of Europe
7.2.Europe V2X Market, by Component, 2015-2027(US$ Mn)
7.2.1.Overview
7.2.2.Hardware
7.2.3.Software
7.3.Europe V2X Market, by Communication, 2015-2027(US$ Mn)
7.3.1.Overview
7.3.2.Vehicle-to Device (V2D)
7.3.3.Vehicle-to-Cloud (V2C)
7.3.4.Vehicle-to-Grid (V2G)
7.3.5.Vehicle-to-Infrastructure (V2I)
7.3.6.Vehicle-to-Pedestrian (V2P)
7.3.7.Vehicle-to-Vehicle (V2V)
7.4.Europe V2X Market, by Connectivity, 2015-2027(US$ Mn)
7.4.1.Overview
7.4.2.Cellular
7.4.3.DSRC
7.5.Europe V2X Market, by Vehicle Type, 2015-2027(US$ Mn)
7.5.1.Overview
7.5.2.Passenger car
7.5.3.Commercial vehicle

8.Asia Pacific

8.1.Asia Pacific V2X Market, by Country, 2015-2027(US$ Mn)
8.1.1.China
8.1.2.Japan
8.1.3.South Korea
8.1.4.India
8.1.5.Australia
8.1.6.Rest of Asia Pacific
8.2.Asia Pacific V2X Market, by Component, 2015-2027(US$ Mn)
8.2.1.Overview
8.2.2.Hardware
8.2.3.Software
8.3.Asia Pacific V2X Market, by Communication, 2015-2027(US$ Mn)
8.3.1.Overview
8.3.2.Vehicle-to Device (V2D)
8.3.3.Vehicle-to-Cloud (V2C)
8.3.4.Vehicle-to-Grid (V2G)
8.3.5.Vehicle-to-Infrastructure (V2I)
8.3.6.Vehicle-to-Pedestrian (V2P)
8.3.7.Vehicle-to-Vehicle (V2V)
8.4.Asia Pacific V2X Market, by Connectivity, 2015-2027(US$ Mn)
8.4.1.Overview
8.4.2.Cellular
8.4.3.DSRC
8.5.Asia Pacific V2X Market, by Vehicle Type, 2015-2027(US$ Mn)
8.5.1.Overview
8.5.2.Passenger car
8.5.3.Commercial vehicle

9.Latin America

9.1.Latin America V2X Market, by Country, 2015-2027(US$ Mn)
9.1.1.Brazil
9.1.2.Mexico
9.1.3.Argentina
9.1.4.Rest of Latin America
9.2.Latin America V2X Market, by Component, 2015-2027(US$ Mn)
9.2.1.Overview
9.2.2.Hardware
9.2.3.Software
9.3.Latin America V2X Market, by Communication, 2015-2027(US$ Mn)
9.3.1.Overview
9.3.2.Vehicle-to Device (V2D)
9.3.3.Vehicle-to-Cloud (V2C)
9.3.4.Vehicle-to-Grid (V2G)
9.3.5.Vehicle-to-Infrastructure (V2I)
9.3.6.Vehicle-to-Pedestrian (V2P)
9.3.7.Vehicle-to-Vehicle (V2V)
9.4.Latin America V2X Market, by Connectivity, 2015-2027(US$ Mn)
9.4.1.Overview
9.4.2.Cellular
9.4.3.DSRC
9.5.Latin America V2X Market, by Vehicle Type, 2015-2027(US$ Mn)
9.5.1.Overview
9.5.2.Passenger car
9.5.3.Commercial vehicle

10.Middle East

10.1.Middle East V2X Market, by Country, 2015-2027(US$ Mn)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Rest of Middle East
10.2.Middle EastV2X Market, by Component, 2015-2027(US$ Mn)
10.2.1.Overview
10.2.2.Hardware
10.2.3.Software
10.3.Middle EastV2X Market, by Communication, 2015-2027(US$ Mn)
10.3.1.Overview
10.3.2.Vehicle-to Device (V2D)
10.3.3.Vehicle-to-Cloud (V2C)
10.3.4.Vehicle-to-Grid (V2G)
10.3.5.Vehicle-to-Infrastructure (V2I)
10.3.6.Vehicle-to-Pedestrian (V2P)
10.3.7.Vehicle-to-Vehicle (V2V)
10.4.Middle EastV2X Market, by Connectivity, 2015-2027(US$ Mn)
10.4.1.Overview
10.4.2.Cellular
10.4.3.DSRC
10.5.Middle EastV2X Market, by Vehicle Type, 2015-2027(US$ Mn)
10.5.1.Overview
10.5.2.Passenger car
10.5.3.Commercial vehicle

11.Africa

11.1.Africa V2X Market, by Country, 2015-2027(US$ Mn)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Latin America V2X Market, by Component, 2015-2027(US$ Mn)
11.2.1.Overview
11.2.2.Hardware
11.2.3.Software
11.3.Latin America V2X Market, by Communication, 2015-2027(US$ Mn)
11.3.1.Overview
11.3.2.Vehicle-to Device (V2D)
11.3.3.Vehicle-to-Cloud (V2C)
11.3.4.Vehicle-to-Grid (V2G)
11.3.5.Vehicle-to-Infrastructure (V2I)
11.3.6.Vehicle-to-Pedestrian (V2P)
11.3.7.Vehicle-to-Vehicle (V2V)
11.4.Latin America V2X Market, by Connectivity, 2015-2027(US$ Mn)
11.4.1.Overview
11.4.2.Cellular
11.4.3.DSRC
11.5.Latin America V2X Market, by Vehicle Type, 2015-2027(US$ Mn)
11.5.1.Overview
11.5.2.Passenger car
11.5.3.Commercial vehicle

12.Global

12.1.Global V2X Market, by Component, 2015-2027(US$ Mn)
12.1.1.Overview
12.1.2.Hardware
12.1.3.Software
12.2.Global V2X Market, by Communication, 2015-2027(US$ Mn)
12.2.1.Overview
12.2.2.Vehicle-to Device (V2D)
12.2.3.Vehicle-to-Cloud (V2C)
12.2.4.Vehicle-to-Grid (V2G)
12.2.5.Vehicle-to-Infrastructure (V2I)
12.2.6.Vehicle-to-Pedestrian (V2P)
12.2.7.Vehicle-to-Vehicle (V2V)
12.3.Global V2X Market, by Connectivity, 2015-2027(US$ Mn)
12.3.1.Overview
12.3.2.Cellular
12.3.3.DSRC
12.4.Global V2X Market, by Vehicle Type, 2015-2027(US$ Mn)
12.4.1.Overview
12.4.2.Passenger car
12.4.3.Commercial vehicle

13.Company Profiles

13.1.Autotalks LTD.
13.2.Cohda Wireless
13.3.Continental AG
13.4.Delphi Technologies
13.5.Denso Corporation
13.6.Harman International
13.7.Infineon Technologies AG
13.8.NXP Semiconductors
13.9.Qualcomm Technologies, Inc.
13.10.Robert Bosch GmbH
13.11.Savari, Inc.
13.12. Stmicroelectronics

 

List of Figures

FIG. 1 Global V2Xs Market: Research Methodology

FIG. 2 Market Size Estimation – Top Down & Bottom up Approach

FIG. 3 Global V2Xs Market Segmentation

FIG. 4 Global V2Xs Market, by Component, 2019(US$ Mn)

FIG. 5 Global V2Xs Market, by Communication, 2019(US$ Mn)

FIG. 6 Global V2Xs Market, by Connectivity, 2019(US$ Mn)

FIG. 7 Global V2Xs Market, by Vehicle Type, 2019(US$ Mn)

FIG. 8 Global V2Xs Market, by Geography, 2019(US$ Mn)

FIG. 9 Attractive Investment Proposition, by Geography, 2019

FIG. 10 Global Market Positioning of Key V2Xs Market Companies, 2019

FIG. 11 Global V2Xs Market Value Contribution, By Application, 2020 & 2027 (Value %)

FIG. 12 North AmericaV2Xs Market, 2015-2027(US$ Mn)

FIG. 13 EuropeV2Xs Market, 2015-2027(US$ Mn)

FIG. 14 Asia PacificV2Xs Market, 2015-2027(US$ Mn)

FIG. 15 Middle EastV2Xs Market, 2015-2027 (US$ Mn)

FIG. 16 AfricaV2Xs Market, 2015-2027 (US$ Mn)

FIG. 17 U.S. V2Xs Market, 2015-2027(US$ Mn)

FIG. 18 CanadaV2Xs Market, 2015-2027(US$ Mn)

FIG. 19 U.K. V2Xs Market, 2015-2027(US$ Mn)

FIG. 20 Germany V2Xs Market, 2015-2027(US$ Mn)

FIG. 21 FranceV2Xs Market, 2015-2027(US$ Mn)

FIG. 22 Italy V2Xs Market, 2015-2027(US$ Mn)

FIG. 23 Russia V2Xs Market, 2015-2027(US$ Mn)

FIG. 24 Spain V2Xs Market, 2015-2027(US$ Mn)

FIG. 25 Rest of Europe V2Xs Market, 2015-2027(US$ Mn)

FIG. 26 China V2Xs Market, 2015-2027(US$ Mn)

FIG. 27 Japan V2Xs Market, 2015-2027(US$ Mn)

FIG. 28 South Korea V2Xs Market, 2015-2027(US$ Mn)

FIG. 29 India V2Xs Market, 2015-2027(US$ Mn)

FIG. 30 Australia V2Xs Market, 2015-2027(US$ Mn)

FIG. 31 Rest of Asia Pacific V2Xs Market, 2015-2027(US$ Mn)

FIG. 32 Brazil V2Xs Market, 2015-2027(US$ Mn)

FIG. 33 Mexico V2Xs Market, 2015-2027(US$ Mn)

FIG. 34 Argentina V2Xs Market, 2015-2027(US$ Mn)

FIG. 35 Rest of Latin America V2Xs Market, 2015-2027(US$ Mn)

FIG. 36 UAE V2Xs Market, 2015-2027(US$ Mn)

FIG. 37 KSAV2Xs Market, 2015-2027(US$ Mn)

FIG. 38 Israel V2Xs Market, 2015-2027(US$ Mn)

FIG. 39 Rest of Middle East V2Xs Market, 2015-2027(US$ Mn)

FIG. 40 South Africa V2Xs Market, 2015-2027(US$ Mn)

FIG. 41 Egypt V2Xs Market, 2015-2027(US$ Mn)

FIG. 42 Nigeria V2Xs Market, 2015-2027(US$ Mn)

Rest of Africa V2Xs Market, 2015-2027(US$ Mn)

List of Tables

TABLE 1 Market Snapshot: Global V2Xs Market

TABLE 2 Global V2Xs Market, by Component, 2015-2027 (US$ Mn)

TABLE 3 Global V2Xs Market, by Communication, 2015-2027 (US$ Mn)

TABLE 4 Global V2Xs Market, by Connectivity, 2015-2027 (US$ Mn)

TABLE 5 Global V2Xs Market, by Vehicle Type, 2015-2027 (US$ Mn)

TABLE 6 Global V2Xs Market, by Geography, 2015-2027 (US$ Mn)

TABLE 7 North America V2Xs Market, by Component, 2015-2027 (US$ Mn)

TABLE 8 North America V2Xs Market, by Communication, 2015-2027 (US$ Mn)

TABLE 9 North America V2Xs Market, by Connectivity, 2015-2027 (US$ Mn)

TABLE 10 North America V2Xs Market, by Vehicle Type, 2015-2027 (US$ Mn)

TABLE 11 North America V2Xs Market, by Country, 2015-2027 (US$ Mn)

TABLE 12 Europe V2Xs Market, by Component, 2015-2027 (US$ Mn)

TABLE 13 Europe V2Xs Market, by Communication, 2015-2027 (US$ Mn)

TABLE 14 Europe V2Xs Market, by Connectivity, 2015-2027 (US$ Mn)

TABLE 15 Europe V2Xs Market, by Vehicle Type, 2015-2027 (US$ Mn)

TABLE 16 Europe V2Xs Market, by Country/Region, 2015-2027 (US$ Mn)

TABLE 17 Asia Pacific V2Xs Market, by Component, 2015-2027 (US$ Mn)

TABLE 18 Europe V2Xs Market, by Communication, 2015-2027 (US$ Mn)

TABLE 19 Europe V2Xs Market, by Connectivity, 2015-2027 (US$ Mn)

TABLE 20 Asia Pacific V2Xs Market, by Vehicle Type, 2015-2027 (US$ Mn)

TABLE 21 Asia Pacific V2Xs Market, by Country/Region, 2015-2027 (US$ Mn)

TABLE 22 Latin America V2Xs Market, by Component, 2015-2027 (US$ Mn)

TABLE 23 Latin America V2Xs Market, by Communication, 2015-2027 (US$ Mn)

TABLE 24 Latin America V2Xs Market, by Connectivity, 2015-2027 (US$ Mn)

TABLE 25 Latin America V2Xs Market, by Vehicle Type, 2015-2027 (US$ Mn)

TABLE 26 Latin America V2Xs Market, by Country/Region, 2015-2027 (US$ Mn)

TABLE 27 Middle East V2Xs Market, by Component, 2015-2027 (US$ Mn)

TABLE 28 Middle East V2Xs Market, by Communication, 2015-2027 (US$ Mn)

TABLE 29 Middle East V2Xs Market, by Connectivity, 2015-2027 (US$ Mn)

TABLE 30 Middle East V2Xs Market, by Vehicle Type, 2015-2027 (US$ Mn)

TABLE 31 Middle East V2Xs Market, by Country/Region, 2015-2027 (US$ Mn)

TABLE 32 Africa V2Xs Market, by Component, 2015-2027 (US$ Mn)

TABLE 33 Africa V2Xs Market, by Communication, 2015-2027 (US$ Mn)

TABLE 34 Africa V2Xs Market, by Connectivity, 2015-2027 (US$ Mn)

TABLE 35 Africa V2Xs Market, by Vehicle Type, 2015-2027 (US$ Mn)

TABLE 36 Africa V2Xs Market, by Country/Region, 2015-2027 (US$ Mn)

Frequently Asked Questions:

What is the current size of the global V2Xmarket?

The V2Xs market is expected to grow from US$ 1,044.5 million in 2020 to US$ 13,404.1 million by 2027, with a CAGR of 44% from 2020 to 2027.

What are the major opportunities in V2X industry?

The market’s key opportunities are government support for V2X technology increased, 5G technology advances.

What is major growth driving factor for V2X industry?

Rising demand for fully autonomous driving and safe vehicles, as well as growing concerns about vehicle-related pollution, are some of the market’s driving forces.

Which region is expected to have the largest share of the V2X market?

Throughout the forecast period, North America is expected to have the largest market share.

Which communication sector will dominate the V2X market?

The V2V communication sector is expected to account for the majority of the V2X market.

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