Automotive V2X Market Estimated to Cross US$ 13.3 Bn by 2030
The worldwide Automotive V2X market measurement is anticipated to achieve USD 13.3 billion by 2030 and is anticipated to increase at a CAGR of 53% from 2021 to 2030.
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Vehicle-to-everything (V2X) is a communication technology that allows a vehicle to communicate with other vehicles, road users, and infrastructure. The major purpose of V2X technology is to improve road safety, energy savings, and traffic efficiency on roads. The key components of V2X include vehicle-to-vehicle (V2V) & vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), vehicle-to-grid (V2G), vehicle-to-cloud (V2C), and vehicle-to-device (V2D) communication systems. The automotive industry is evolving in the front of technology, enabling cars to interact with infrastructure such as traffic signals, pedestrian’s communication devices, other digital devices. These advancements in technology have challenged automotive makers to incorporate automotive V2X solutions that will offer enhanced safety, utility, and convenience to their customers.
Major factors driving the growth of the Automotive V2X Market
- Features such as improved road safety, energy savings, and traffic efficiency on roads are expected to increase the adoption of V2X technology
- The rise in adoption of connected cars and rapid increase in urbanization & industrialization are expected to drive the market growth
- Furthermore, the automotive V2X market is likely to benefit from the future potential of 5G and AI technologies, as well as advancements in cellular-V2X (C-V2X) technology and developments in semi-autonomous and autonomous vehicles.
Trends influencing the growth of Automotive V2X Market
The rise in the adoption of connected cars is expected to increase the growth of the Automotive V2X Market. Connected vehicles allow cars to connect with other vehicles, road infrastructure, and the cloud via a V2X platform. Connected vehicles gather data from their surroundings and communicate it to one another, as well as connect to intelligent transportation infrastructure and send real-time traffic data to transportation authorities for better road management and infrastructure planning.
The rapid increase in urbanization & industrialization is expected to further fuel the growth of the automotive V2X market. The expansion of the automotive V2X industry is predicted to be fueled by macroeconomic variables such as an increase in disposable income, an increase in employment rates, and an increase in overall GDP, which are encouraging projects such as smart cities with smart infrastructure facilities.
The future potential of 5G & AI technology coupled with the advancement in cellular-V2X (C-V2X) technology is expected to increase the growth of the Automotive V2X Market. Artificial intelligence (AI) and 5G have an important role in the future of the automotive industry, as predictive capabilities are becoming more prevalent in cars, personalizing the driving experience. Furthermore, V2X is better equipped with 5G and AI to carry out vital communications for safer and more secure driving. The C-V2X technology is built to interact with impending 5G network technologies, allowing mission-critical V2X and C-V2X to serve as ultimate platforms for cooperative intelligent transportation systems (C-ITS) services and technology.
Presence of Major OEMs to Augment Growth in North America
The market in North America is expected to witness a high growth rate during the forecast period owing to the presence of major manufactures in the region. The growing production of luxury vehicles in the US will have a positive influence on the market in the region. Europe is expected to witness a substantial growth rate in the forthcoming years due to the existing Automotive V2X manufacturers in the region.
The growing adoption of autonomous and semi-autonomous vehicles will further enhance the market potential in European countries such as Germany, France, England, and others. Asia Pacific is predicted to rise excellently in the forthcoming years. The growth in the region is attributed to the rapid expansion of the automotive industry in the region.
COVID-19 Impacts
The global impacts of the COVID-19 are already starting to be felt, and will significantly affect the automotive V2X market in 2020. There are apprehensions of extension to the lockdown period that could further hamper the production activity across all sectors, including the automotive industry. Thus, owing to the lockdown imposed, manufacturing units across the globe have halted their production, which is likely to affect the purchase of vehicles equipped with vehicle-to-everything (V2X) features. The COVID-19 crisis is creating uncertainty in the market, disruption of supply chain, decline in businesses, and increase in panic among customer segments. Governments of different regions have already announced total lockdown and temporarily shutdown of industries, which have affected the overall production and sales adversely. Therefore, the spread of the COVID-19 pandemic has negatively impacted the global automotive V2X market.
Market Share Analysis
- Based on region, Europe was the highest revenue contributor, accounting for USD 853 Million in 2020, and is estimated to reach USD 3.2 billion by 2030, with a CAGR of 25%. This dominance of Europe is attributed to the increase in penetration of connected vehicles and technological shifts in the automotive industry across the country.
- On the other hand, Asia Pacific is expected to exhibit the highest CAGR of 34% during 2021-2030.
- Based on communication, the vehicle-to-infrastructure (V2I) segment is expected to register significant growth during the forecast period.
- Based on connectivity, the cellular-V2X (C-V2X) communication segment is projected to lead the global market in terms of market share by the end of the forecast period.
- Based on vehicle type, the passenger cars segment is expected to register significant CAGR during the forecast period.
Key Players
The key players operating in the market are Delphi Automotive PLC, Continental AG, Infineon Technologies AG, Qualcomm Inc., Cohda Wireless Pty, Arada Systems Inc, Savari Technologies Pvt. Ltd., Kapsch TrafficCom, eTrans Systems, Denso Corporation, AutoTalks Ltd among others.
| Report Coverage | Details |
| Market Size | US$ 13.3 billion by 2030 |
| Growth Rate | CAGR of 53% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Offering, communication, Vehicle, Technology, Connectivity, Propulsion, Unit |
| Regional Scope | Asia Pacific, Europe, North America, RoW |
| Companies Mentioned | Delphi Automotive PLC, Continental AG, Infineon Technologies AG, Qualcomm Inc., Cohda Wireless Pty, Arada Systems Inc, Savari Technologies Pvt. Ltd., Kapsch TrafficCom, eTrans Systems, Denso Corporation, AutoTalks Ltd |
Market Segmentation
Market by offering
- Hardware
- Software
Market by communication
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Pedestrian (V2P)
- Vehicle-to-Grid (V2G)
- Vehicle-to-Cloud (V2C)
- Vehicle-to Device (V2D)
Market by propulsion
- ICE
- EV
Market by connectivity
- Cellular
- DSRC
Market by technology
- Automated driver assistance
- Intelligent traffic systems
- Emergency vehicle notification
- Passenger information system
- Fleet & asset management
- Parking management system
- Line of sight
- Non-line of sight
- Backing
- Others
Market by vehicle type
- Passenger car
- Commercial vehicle
Market by unit type
- On-Board Unit
- Roadside Unit
Market By Region
- Asia Pacific
- Europe
- North America
- RoW
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Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
Table of Contents
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Technology Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Automotive V2X Market, By Vehicle Type
7.1. Automotive V2X Market, by Vehicle Type, 2021-2030
7.1.1. Passenger Cars
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Commercial vehicle
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Automotive V2X Market, By Offering Type
8.1. Automotive V2X Market, by Offering Type, 2021-2030
8.1.1. Hardware
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Software
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Automotive V2X Market, By Communication Type
9.1. Automotive V2X Market, by Communication Type, 2021-2030
9.1.1. Vehicle-to-Vehicle (V2V)
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Vehicle-to-Infrastructure (V2I)
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Vehicle-to-Pedestrian (V2P)
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Vehicle-to-Grid (V2G)
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Vehicle-to-Cloud (V2C)
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Vehicle-to Device (V2D)
9.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Automotive V2X Market, By Texture Type
10.1. Automotive V2X Market, by Texture Type, 2021-2030
10.1.1. Metallic
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Solid
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Matte
10.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Automotive V2X Market, By Propulsion
11.1. Automotive V2X Market, by Propulsion, 2021-2030
11.1.1. ICE
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. EV
11.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Automotive V2X Market, By Technology
12.1. Automotive V2X Market, by Offering Type, 2021-2030
12.1.1. Automated driver assistance
12.1.1.1. Market Revenue and Forecast (2017-2030)
12.1.2. Intelligent traffic systems
12.1.2.1. Market Revenue and Forecast (2017-2030)
12.1.3. Emergency vehicle notification
12.1.3.1. Market Revenue and Forecast (2017-2030)
12.1.4. Passenger information system
12.1.4.1. Market Revenue and Forecast (2017-2030)
12.1.5. Fleet & asset management
12.1.5.1. Market Revenue and Forecast (2017-2030)
12.1.6. Parking management system
12.1.6.1. Market Revenue and Forecast (2017-2030)
12.1.7. Others
12.1.7.1. Market Revenue and Forecast (2017-2030)
Chapter 13. Global Automotive V2X Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.1.2. Market Revenue and Forecast, by Offering (2017-2030)
13.1.3. Market Revenue and Forecast, by Communication (2017-2030)
13.1.4. Market Revenue and Forecast, by Texture (2017-2030)
13.1.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.1.6. Market Revenue and Forecast, by Technology (2017-2030)
13.1.7. U.S.
13.1.7.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.1.7.2. Market Revenue and Forecast, by Offering (2017-2030)
13.1.7.3. Market Revenue and Forecast, by Communication (2017-2030)
13.1.7.4. Market Revenue and Forecast, by Texture (2017-2030)
13.1.8. Market Revenue and Forecast, by Propulsion (2017-2030)
13.1.8.1. Market Revenue and Forecast, by Technology (2017-2030)
13.1.9. Rest of North America
13.1.9.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.1.9.2. Market Revenue and Forecast, by Offering (2017-2030)
13.1.9.3. Market Revenue and Forecast, by Communication (2017-2030)
13.1.9.4. Market Revenue and Forecast, by Texture (2017-2030)
13.1.10. Market Revenue and Forecast, by Propulsion (2017-2030)
13.1.11. Market Revenue and Forecast, by Technology (2017-2030)
13.1.11.1.
13.2. Europe
13.2.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.2.2. Market Revenue and Forecast, by Offering (2017-2030)
13.2.3. Market Revenue and Forecast, by Communication (2017-2030)
13.2.4. Market Revenue and Forecast, by Texture (2017-2030)
13.2.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.2.6. Market Revenue and Forecast, by Technology (2017-2030)
13.2.7.
13.2.8. UK
13.2.8.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.2.8.2. Market Revenue and Forecast, by Offering (2017-2030)
13.2.8.3. Market Revenue and Forecast, by Communication (2017-2030)
13.2.9. Market Revenue and Forecast, by Texture (2017-2030)
13.2.10. Market Revenue and Forecast, by Propulsion (2017-2030)
13.2.10.1. Market Revenue and Forecast, by Technology (2017-2030)
13.2.11. Germany
13.2.11.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.2.11.2. Market Revenue and Forecast, by Offering (2017-2030)
13.2.11.3. Market Revenue and Forecast, by Communication (2017-2030)
13.2.12. Market Revenue and Forecast, by Texture (2017-2030)
13.2.13. Market Revenue and Forecast, by Propulsion (2017-2030)
13.2.14. Market Revenue and Forecast, by Technology (2017-2030)
13.2.14.1.
13.2.15. France
13.2.15.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.2.15.2. Market Revenue and Forecast, by Offering (2017-2030)
13.2.15.3. Market Revenue and Forecast, by Communication (2017-2030)
13.2.15.4. Market Revenue and Forecast, by Texture (2017-2030)
13.2.16. Market Revenue and Forecast, by Propulsion (2017-2030)
13.2.16.1. Market Revenue and Forecast, by Technology (2017-2030)
13.2.17. Rest of Europe
13.2.17.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.2.17.2. Market Revenue and Forecast, by Offering (2017-2030)
13.2.17.3. Market Revenue and Forecast, by Communication (2017-2030)
13.2.17.4. Market Revenue and Forecast, by Texture (2017-2030)
13.2.18. Market Revenue and Forecast, by Propulsion (2017-2030)
13.2.18.1. Market Revenue and Forecast, by Technology (2017-2030)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.3.2. Market Revenue and Forecast, by Offering (2017-2030)
13.3.3. Market Revenue and Forecast, by Communication (2017-2030)
13.3.4. Market Revenue and Forecast, by Texture (2017-2030)
13.3.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.3.6. Market Revenue and Forecast, by Technology (2017-2030)
13.3.7. India
13.3.7.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.3.7.2. Market Revenue and Forecast, by Offering (2017-2030)
13.3.7.3. Market Revenue and Forecast, by Communication (2017-2030)
13.3.7.4. Market Revenue and Forecast, by Texture (2017-2030)
13.3.8. Market Revenue and Forecast, by Propulsion (2017-2030)
13.3.9. Market Revenue and Forecast, by Technology (2017-2030)
13.3.10. China
13.3.10.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.3.10.2. Market Revenue and Forecast, by Offering (2017-2030)
13.3.10.3. Market Revenue and Forecast, by Communication (2017-2030)
13.3.10.4. Market Revenue and Forecast, by Texture (2017-2030)
13.3.11. Market Revenue and Forecast, by Propulsion (2017-2030)
13.3.11.1. Market Revenue and Forecast, by Technology (2017-2030)
13.3.12. Japan
13.3.12.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.3.12.2. Market Revenue and Forecast, by Offering (2017-2030)
13.3.12.3. Market Revenue and Forecast, by Communication (2017-2030)
13.3.12.4. Market Revenue and Forecast, by Texture (2017-2030)
13.3.12.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.3.12.6. Market Revenue and Forecast, by Technology (2017-2030)
13.3.13. Rest of APAC
13.3.13.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.3.13.2. Market Revenue and Forecast, by Offering (2017-2030)
13.3.13.3. Market Revenue and Forecast, by Communication (2017-2030)
13.3.13.4. Market Revenue and Forecast, by Texture (2017-2030)
13.3.13.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.3.13.6. Market Revenue and Forecast, by Technology (2017-2030)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.4.2. Market Revenue and Forecast, by Offering (2017-2030)
13.4.3. Market Revenue and Forecast, by Communication (2017-2030)
13.4.4. Market Revenue and Forecast, by Texture (2017-2030)
13.4.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.4.6. Market Revenue and Forecast, by Technology (2017-2030)
13.4.7. GCC
13.4.7.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.4.7.2. Market Revenue and Forecast, by Offering (2017-2030)
13.4.7.3. Market Revenue and Forecast, by Communication (2017-2030)
13.4.7.4. Market Revenue and Forecast, by Texture (2017-2030)
13.4.8. Market Revenue and Forecast, by Propulsion (2017-2030)
13.4.9. Market Revenue and Forecast, by Technology (2017-2030)
13.4.10. North Africa
13.4.10.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.4.10.2. Market Revenue and Forecast, by Offering (2017-2030)
13.4.10.3. Market Revenue and Forecast, by Communication (2017-2030)
13.4.10.4. Market Revenue and Forecast, by Texture (2017-2030)
13.4.11. Market Revenue and Forecast, by Propulsion (2017-2030)
13.4.12. Market Revenue and Forecast, by Technology (2017-2030)
13.4.13. South Africa
13.4.13.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.4.13.2. Market Revenue and Forecast, by Offering (2017-2030)
13.4.13.3. Market Revenue and Forecast, by Communication (2017-2030)
13.4.13.4. Market Revenue and Forecast, by Texture (2017-2030)
13.4.13.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.4.13.6. Market Revenue and Forecast, by Technology (2017-2030)
13.4.14. Rest of MEA
13.4.14.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.4.14.2. Market Revenue and Forecast, by Offering (2017-2030)
13.4.14.3. Market Revenue and Forecast, by Communication (2017-2030)
13.4.14.4. Market Revenue and Forecast, by Texture (2017-2030)
13.4.14.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.4.14.6. Market Revenue and Forecast, by Technology (2017-2030)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.5.2. Market Revenue and Forecast, by Offering (2017-2030)
13.5.3. Market Revenue and Forecast, by Communication (2017-2030)
13.5.4. Market Revenue and Forecast, by Texture (2017-2030)
13.5.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.5.6. Market Revenue and Forecast, by Technology (2017-2030)
13.5.7. Brazil
13.5.7.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.5.7.2. Market Revenue and Forecast, by Offering (2017-2030)
13.5.7.3. Market Revenue and Forecast, by Communication (2017-2030)
13.5.7.4. Market Revenue and Forecast, by Texture (2017-2030)
13.5.8. Market Revenue and Forecast, by Propulsion (2017-2030)
13.5.8.1. Market Revenue and Forecast, by Technology (2017-2030)
13.5.9. Rest of LATAM
13.5.9.1. Market Revenue and Forecast, by Vehicle (2017-2030)
13.5.9.2. Market Revenue and Forecast, by Offering (2017-2030)
13.5.9.3. Market Revenue and Forecast, by Communication (2017-2030)
13.5.9.4. Market Revenue and Forecast, by Texture (2017-2030)
13.5.9.5. Market Revenue and Forecast, by Propulsion (2017-2030)
13.5.9.6. Market Revenue and Forecast, by Technology (2017-2030)
Chapter 14. Company Profiles
14.1. Delphi Automotive PLC
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Continental AG
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. Infineon Technologies AG
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Qualcomm Inc.
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. Cohda Wireless Pty
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Arada Systems Inc
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. Savari Technologies Pvt. Ltd.
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Kapsch TrafficCom
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. eTrans Systems
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Denso Corporation
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
14.11. AutoTalks Ltd
14.11.1. Company Overview
14.11.2. Product Offerings
14.11.3. Financial Performance
14.11.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
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