Automotive V2X Market Opportunity by 2029 is expected to be USD 25.02 Billion : 5G and IoT technologies to create growth prospects for automotive V2X
Automotive V2X Market Opportunity by 2029 is expected to be USD 25.02 Billion : 5G and IoT technologies to create growth prospects for automotive V2X
Pune, Dec 5, 2022: Automotive V2X Market was worth USD 1.88 Bn. in 2021 and is expected to grow at a CAGR of 38.2% during the forecast period. Maximize Market research has published a market intelligence report on Automotive V2X Market which has covered 22 major economies in the world by region. As per the report, the total market opportunity by 2029 is expected to be USD 25.02 Billion.
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Automotive V2X Market Report Scope & Research Methodology:
The research includes complete market insights for industry stakeholders, including an explanation of complex market statistics in clear terms, the history and current state of the industry, as well as estimated market size and trends. The study looks at all industry segments, with a focus on major firms such as market leaders, followers, and new entrants. Various sources from both the supply and demand sides were interviewed throughout the main research phase to collect qualitative and quantitative information for the report. Product manufacturers (and their rivals), opinion leaders, industry experts, research institutes, distributors, dealers, and traders, are among the key primary sources.
Automotive V2X Market Overview:
According to the WHO, about 1.36 million people die in road accidents each year, and deploying V2X technology can cut these fatalities by 80%. V2X technology’s key aims are to increase traffic efficiency, energy saving, and road safety by enabling automobiles to communicate their position, speed, and direction to one another over a mesh network. The automotive V2X sector is massive, and an increasing number of organizations are becoming involved and investing in V2X technologies.
Automotive V2X Market Dynamics:
Since predictive capabilities become increasingly prominent in personalizing the driving experience, artificial intelligence and 5G are expected to play an important role in the automobile industry’s future. Additionally, with V2X, 5G and AI are better poised to undertake vital communications for safer and more secure driving. Cellular-V2X contributes significantly to the advancement of vehicle automation by enabling communication between automobiles, roadside units, and pedestrians, making the vehicle more aware of its surroundings. C-V2X technology is intended to be interoperable with future 5G network technologies, allowing mission-critical V2X and C-V2X to function as ultimate platforms for cooperative intelligent transportation systems (C-ITS) services and technology.
Automotive V2X Market Regional Insights:
Over the forecast period, Asia Pacific is expected to be the largest Automotive V2X market. The Asia Pacific region includes both developing and developed countries such as China and India. This location has been a hotspot for vehicle manufacturing since the last decade. People’s increasing purchasing power, along with growing environmental concerns, has spurred demand for V2X across the Asia Pacific. The Asia-Pacific region continues to have the fastest growth rates in new car sales and connected vehicle penetration.
China’s connected car adoption rate is at 45.2%. Since South Korea and Japan are electronics powerhouses, it would allow them to develop V2X systems with superior performance at a cheaper cost. In the Asia Pacific automotive V2X market, Denso Corporation, Mitsubishi Corporation, Hitachi Solutions, Ltd, Huawei Technologies Co., Ltd, and Hyundai Motor Company are all prominent. The existence of these firms is expected to drive the Asia Pacific automotive V2X market growth in the forecast period
Automotive V2X Market Segmentation:
By Vehicle Type:
- Commercial
- Passenger
By Application:
- Predictive Maintenance
- Remote Monitoring and Diagnostics
- Parking Management System
- Fleet and Asset Management
- Passenger Information System
- Emergency Vehicle Notification
- Intelligent Traffic System
- Automated Driver Assistance
By Communication Type:
- Vehicle-to-Vehicle
- Vehicle-to-Network
- Vehicle-to-Home
- Vehicle-to-Grid
- Vehicle-to-Pedestrian
- Vehicle-to-Infrastructure
By Offering:
- Hardware
- Software
By Connectivity Type
- Cellular
- DSRC
Automotive V2X Market Key Competitors:
- Continental AG
- Qualcomm Technologies Inc.
- NXP Semiconductors N.V.
- Robert Bosch GmBH
- Intel Corporation
- Infineon Technologies AG
- TomTom International BV.
- Harman International Industries, Inc.
- Nvidia Corporation
- Autotalks ltd.
- Cohda Wireless
- Daimler AG
- Audi AG
Key Questions answered in the Automotive V2X Market Report are:
- What is the competitive scenario of the Automotive V2X Market?
- What key trends are likely to emerge in the Automotive V2X Market during the forecast period?
- What is the expected Automotive V2X Market size by 2029?
- Which company held the largest share of the Automotive V2X Market in 2021?
- Which application segment is expected to emerge as the leading segment in the Automotive V2X Market?
- Which product segment held the largest share of the Automotive V2X Market in 2021?
Maximize Market Research, one of the leading automotive industry research firms, has also published the following reports:
Off-Highway Electric Vehicle Market – The Off-Highway Electric Vehicle Market size is expected to reach USD 40.28 Billion by 2029, at a CAGR of 31.7% during the forecast period. Due to their constant advancements in electric vehicle technology, Europe and North America accounted for over 80% of off-highway electric vehicle demand in 2021.
Fluid Transfer System Market – The Fluid Transfer System Market size is expected to reach USD 38.69 Billion by 2029, at a CAGR of 5.6% during the forecast period. In 2021, the Asia Pacific region dominated the market with 45% of the total shares.
Contract Logistics Market – The Contract Logistics Market size is expected to reach USD 437.52 Billion by 2029, at a CAGR of 7.6% during the forecast period. The fundamental advantage of contract logistics is cost reduction. They are not only financial investments, such as renting a warehouse, buying automobiles, or hiring new personnel, but they also save time.
About Maximize Market Research:
Maximize Market Research provides syndicate as well as custom-made business and market B2B and B2C research on 6,500 high-growth emerging technologies and opportunities as well as threats to the companies across the Chemical, Healthcare, Pharmaceuticals, Electronics and Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Maximize Market Research is positioned to estimate and forecast the market size with the competitive landscape of the industries. Additional information is available at https://www.maximizemarketresearch.com/.
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