Automotive V2X Market Size is projected to reach USD 36.43 Billion by 2030, growing at a CAGR of 36.5%: Straits Research

The Total Addressable Market (TAM) for Automotive V2X was valued at USD 2.56 billion in 2021. It is expected to reach USD 36.43 billion by 2030, growing at a CAGR of 36.5% during the forecast period (2022–2030). Europe is the most significant shareholder in the global automotive V2X market and is expected to grow at a CAGR of 24.5% during the forecast period.

| Source: Straits Research Straits Research

New York, United States, Aug. 02, 2023 (GLOBE NEWSWIRE) -- A system for vehicular technology called V2X allows moving objects to communicate with their surroundings. The primary purposes of V2X communications systems are to increase safety and decrease collisions. In a typical car, V2X systems can give the driver vital information about bad weather, nearby accidents, road condition, and other cars' potentially risky behavior.


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Rising Industrialization and Urbanization Drives the Global Market

The key enabling technology for enhancing traffic efficiency, road safety, and the driving experience, the V2X-based intelligent transport system (ITS), has also advanced quickly due to global urbanization and industrialization. Macroeconomic factors like rising disposable income, higher employment rates, and a growing GDP are also encouraging the creation of smart cities with cutting-edge infrastructure, which is expected to support the growth of the automotive V2X market. The ongoing development and commercialization of cellular technologies and related infrastructure is also fueling the expansion of the automotive V2X market.

Future Potential of Cellular-V2X (C-V2X) and AI Technologies Creates Tremendous Opportunities

5G and AI enable more efficient V2X communications for vital driving safety and security. Cellular-V2X also contributes significantly to the development of vehicle automation by creating communication pathways between vehicles, infrastructure, and pedestrians, enhancing the vehicle's awareness of its surroundings. The C-V2X technology, designed to work with upcoming 5G network technologies, will enable the Cooperative Intelligent Transport Systems (C-ITS) services. This will make mission-critical V2X communications even more possible. As a result, it is anticipated that the rapidly developing use cases, including platooning, vehicle safety, and traffic efficiency, will present the automotive V2X market with a wealth of growth opportunities.


Report Scope

Report MetricDetails
Market SizeUSD 36.43 billion by 2030
CAGR36.5 %
Historical Data2019-2020
Base Year2021
Forecast Period2022-2030
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Communication, By Communication, By Vehicle Type
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/VendorsAltran, Auto talks Ltd, Continental Ag, Harman International, NXP Semiconductors, Qualcomm Technologies, Inc, Robert Bosch Gmbh, Savari, Inc, STMicroelectronics, and INFINEON TECHNOLOGIES AG.
Key Market OpportunitiesFuture Potential of Cellular-V2X (C-V2X) and AI Technologies
Key Market DriversRising Adoption of Smart Automobiles

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Regional Analysis

Europe is the most significant shareholder in the global automotive V2X market and is expected to grow at a CAGR of 24.5% during the forecast period. Europe is anticipated to experience high growth rates for the automotive V2X market during the forecast period due to the rising demand for sophisticated connectivity in surveillance and security features for the general public throughout the region. The Europe fleet management market is anticipated to grow significantly during the forecast period, especially in Germany and the UK. In addition, increasing telematics and GNSS adoption in fleet management services and population growth is expected to drive market expansion. Additionally, market participants in the Europe fleet management market are deciding to pursue long-term business opportunities and sign long-term contracts.

North America is expected to grow at a CAGR of 29.30%, during the forecast period. The market is driven by the emergence and integration of government initiatives and the development of IoT and other information, communication, and technology, particularly in the automotive industry. The rise in demand for intelligent transportation and user concern for the environment are the two main factors propelling the North American automotive V2X market growth. Additionally, investments in new smart city initiatives and fleet management innovation across various transportation modes are expected to significantly impact the automotive V2X market over the forecast period.

Key Highlights

  • The Automotive V2X market size is expected to reach USD 36.43 billion by 2030, growing at a CAGR of 36.5% during the forecast period (2022–2030).
  • Based on communication, the global automotive V2X market is bifurcated into vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), vehicle-to-cloud (V2C) and vehicle-to-device (V2D). The vehicle-to-infrastructure (V2I) segment is the highest contributor to the market and is expected to grow at a CAGR of 32.9% during the forecast period.
  • Based on connectivity, the global automotive V2X market is bifurcated into dedicated short-range communication (DSCR) and cellular-V2X (C-V2X) communication. The cellular-V2X (C-V2X) communication segment owns the highest market share and is expected to grow at a CAGR of 30.7% during the forecast period.
  • Based on vehicle type, the global automotive V2X market is bifurcated into passenger cars and commercial vehicles. The passenger cars segment is the highest contributor to the market and is expected to grow at a CAGR of 29% during the forecast period.
  • Europe is the most significant shareholder in the global automotive V2X market and is expected to grow at a CAGR of 24.5% during the forecast period.

Competitive Players

The global automotive V2X market’s major key players are Altran, Auto talks Ltd, Continental Ag, Harman International, NXP Semiconductors, Qualcomm Technologies, Inc, Robert Bosch Gmbh, Savari, Inc, STMicroelectronics, and INFINEON TECHNOLOGIES AG.


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Global Automotive V2X Market Segmentation

By Communication

  • Vehicle-to-Vehicle (V2V)
  • Vehicle-to-Infrastructure (V2I)
  • Vehicle-to-Pedestrian (V2P)
  • Vehicle-to-Device (V2D)
  • Vehicle-to-Cloud (V2C)

By Connectivity

  • Dedicated Short Range Communication (DSRC)
  • Cellular-V2X (C-V2X) communication

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA


TABLE OF CONTENT

  1. EXECUTIVE SUMMARY
  2. RESEARCH SCOPE & SEGMENTATION
    1. Research Objectives
    2. Market Definition
    3. Limitations & Assumptions
    4. Market Scope & Segmentation
    5. Currency & Pricing Considered
  3. MARKET OPPORTUNITY ASSESSMENT
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
    4. Investment Landscape
    5. New Business Models / Revenue Streams
    6. TAM
  4. MARKET TRENDS
    1. Drivers
    2. Market Warning Factors
    3. Latest Macro Economic Indicators
    4. Geopolitical Impact
    5. Human Factors
    6. Technology Factors
  5. MARKET ASSESSMENT
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
    3. Raw Material Analysis
    4. Sales And Distribution Channel Analysis
    5. Trade Analysis
    6. Average Pricing Analysis
    7. Case Study Analysis
    8. Patent Analysis
    9. M & A Agreements & Collabration Analysis
    10. Export Import Analysis
    11. Cost Structure Analysis
  6. ESG TRENDS
  7. GLOBAL AUTOMOTIVE V2X MARKET SIZE ANALYSIS
    1. Global Automotive V2X Market Introduction
    2. By Communication
      1. Introduction
        1. Communication By Value
      2. Vehicle-To-Vehicle (V2V)
        1. By Value
      3. Vehicle-To-Infrastructure (V2I)
        1. By Value
      4. Vehicle-To-Pedestrian (V2P)
        1. By Value
      5. Vehicle-To-Device (V2D)
        1. By Value
      6. Vehicle-To-Cloud (V2C)
        1. By Value
    3. By Connectivity
      1. Introduction
        1. Connectivity By Value
      2. Dedicated Short Range Communication (DSRC)
        1. By Value
      3. Cellular-V2X (C-V2X) Communication
        1. By Value
    4. By Vehicle Type
      1. Introduction
        1. Vehicle Type By Value
      2. Passenger Cars
        1. By Value
      3. Commercial Vehicles
        1. By Value
  8. NORTH AMERICA MARKET ANALYSIS
    1. Introduction
    2. By Communication
      1. Introduction
        1. Communication By Value
      2. Vehicle-To-Vehicle (V2V)
        1. By Value
      3. Vehicle-To-Infrastructure (V2I)
        1. By Value
      4. Vehicle-To-Pedestrian (V2P)
        1. By Value
      5. Vehicle-To-Device (V2D)
        1. By Value
      6. Vehicle-To-Cloud (V2C)
        1. By Value
    3. By Connectivity
      1. Introduction
        1. Connectivity By Value
      2. Dedicated Short Range Communication (DSRC)
        1. By Value
      3. Cellular-V2X (C-V2X) Communication
        1. By Value
    4. By Vehicle Type
      1. Introduction
        1. Vehicle Type By Value
      2. Passenger Cars
        1. By Value
      3. Commercial Vehicles
        1. By Value
    5. U.S.
      1. By Communication
        1. Introduction
          1. Communication By Value
        2. Vehicle-To-Vehicle (V2V)
          1. By Value
        3. Vehicle-To-Infrastructure (V2I)
          1. By Value
        4. Vehicle-To-Pedestrian (V2P)
          1. By Value
        5. Vehicle-To-Device (V2D)
          1. By Value
        6. Vehicle-To-Cloud (V2C)
          1. By Value
      2. By Connectivity
        1. Introduction
          1. Connectivity By Value
        2. Dedicated Short Range Communication (DSRC)
          1. By Value
        3. Cellular-V2X (C-V2X) Communication
          1. By Value
      3. By Vehicle Type
        1. Introduction
          1. Vehicle Type By Value
        2. Passenger Cars
          1. By Value
        3. Commercial Vehicles
          1. By Value
    6. Canada
  9. EUROPE MARKET ANALYSIS
    1. Introduction
    2. By Communication
      1. Introduction
        1. Communication By Value
      2. Vehicle-To-Vehicle (V2V)
        1. By Value
      3. Vehicle-To-Infrastructure (V2I)
        1. By Value
      4. Vehicle-To-Pedestrian (V2P)
        1. By Value
      5. Vehicle-To-Device (V2D)
        1. By Value
      6. Vehicle-To-Cloud (V2C)
        1. By Value
    3. By Connectivity
      1. Introduction
        1. Connectivity By Value
      2. Dedicated Short Range Communication (DSRC)
        1. By Value
      3. Cellular-V2X (C-V2X) Communication
        1. By Value
    4. By Vehicle Type
      1. Introduction
        1. Vehicle Type By Value
      2. Passenger Cars
        1. By Value
      3. Commercial Vehicles
        1. By Value
    5. U.K.
      1. By Communication
        1. Introduction
          1. Communication By Value
        2. Vehicle-To-Vehicle (V2V)
          1. By Value
        3. Vehicle-To-Infrastructure (V2I)
          1. By Value
        4. Vehicle-To-Pedestrian (V2P)
          1. By Value
        5. Vehicle-To-Device (V2D)
          1. By Value
        6. Vehicle-To-Cloud (V2C)
          1. By Value
      2. By Connectivity
        1. Introduction
          1. Connectivity By Value
        2. Dedicated Short Range Communication (DSRC)
          1. By Value
        3. Cellular-V2X (C-V2X) Communication
          1. By Value
      3. By Vehicle Type
        1. Introduction
          1. Vehicle Type By Value
        2. Passenger Cars
          1. By Value
        3. Commercial Vehicles
          1. By Value
    6. Germany
    7. France
    8. Spain
    9. Italy
    10. Russia
    11. Nordic
    12. Benelux
    13. Rest Of Europe
  10. APAC MARKET ANALYSIS
    1. Introduction
    2. By Communication
      1. Introduction
        1. Communication By Value
      2. Vehicle-To-Vehicle (V2V)
        1. By Value
      3. Vehicle-To-Infrastructure (V2I)
        1. By Value
      4. Vehicle-To-Pedestrian (V2P)
        1. By Value
      5. Vehicle-To-Device (V2D)
        1. By Value
      6. Vehicle-To-Cloud (V2C)
        1. By Value
    3. By Connectivity
      1. Introduction
        1. Connectivity By Value
      2. Dedicated Short Range Communication (DSRC)
        1. By Value
      3. Cellular-V2X (C-V2X) Communication
        1. By Value
    4. By Vehicle Type
      1. Introduction
        1. Vehicle Type By Value
      2. Passenger Cars
        1. By Value
      3. Commercial Vehicles
        1. By Value
    5. China
      1. By Communication
        1. Introduction
          1. Communication By Value
        2. Vehicle-To-Vehicle (V2V)
          1. By Value
        3. Vehicle-To-Infrastructure (V2I)
          1. By Value
        4. Vehicle-To-Pedestrian (V2P)
          1. By Value
        5. Vehicle-To-Device (V2D)
          1. By Value
        6. Vehicle-To-Cloud (V2C)
          1. By Value
      2. By Connectivity
        1. Introduction
          1. Connectivity By Value
        2. Dedicated Short Range Communication (DSRC)
          1. By Value
        3. Cellular-V2X (C-V2X) Communication
          1. By Value
      3. By Vehicle Type
        1. Introduction
          1. Vehicle Type By Value
        2. Passenger Cars
          1. By Value
        3. Commercial Vehicles
          1. By Value
    6. Korea
    7. Japan
    8. India
    9. Australia
    10. Taiwan
    11. South East Asia
    12. Rest Of Asia-Pacific
  11. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. Introduction
    2. By Communication
      1. Introduction
        1. Communication By Value
      2. Vehicle-To-Vehicle (V2V)
        1. By Value
      3. Vehicle-To-Infrastructure (V2I)
        1. By Value
      4. Vehicle-To-Pedestrian (V2P)
        1. By Value
      5. Vehicle-To-Device (V2D)
        1. By Value
      6. Vehicle-To-Cloud (V2C)
        1. By Value
    3. By Connectivity
      1. Introduction
        1. Connectivity By Value
      2. Dedicated Short Range Communication (DSRC)
        1. By Value
      3. Cellular-V2X (C-V2X) Communication
        1. By Value
    4. By Vehicle Type
      1. Introduction
        1. Vehicle Type By Value
      2. Passenger Cars
        1. By Value
      3. Commercial Vehicles
        1. By Value
    5. UAE
      1. By Communication
        1. Introduction
          1. Communication By Value
        2. Vehicle-To-Vehicle (V2V)
          1. By Value
        3. Vehicle-To-Infrastructure (V2I)
          1. By Value
        4. Vehicle-To-Pedestrian (V2P)
          1. By Value
        5. Vehicle-To-Device (V2D)
          1. By Value
        6. Vehicle-To-Cloud (V2C)
          1. By Value
      2. By Connectivity
        1. Introduction
          1. Connectivity By Value
        2. Dedicated Short Range Communication (DSRC)
          1. By Value
        3. Cellular-V2X (C-V2X) Communication
          1. By Value
      3. By Vehicle Type
        1. Introduction
          1. Vehicle Type By Value
        2. Passenger Cars
          1. By Value
        3. Commercial Vehicles
          1. By Value
    6. Turkey
    7. Saudi Arabia
    8. South Africa
    9. Egypt
    10. Nigeria
    11. Rest Of MEA
  12. LATAM MARKET ANALYSIS
    1. Introduction
    2. By Communication
      1. Introduction
        1. Communication By Value
      2. Vehicle-To-Vehicle (V2V)
        1. By Value
      3. Vehicle-To-Infrastructure (V2I)
        1. By Value
      4. Vehicle-To-Pedestrian (V2P)
        1. By Value
      5. Vehicle-To-Device (V2D)
        1. By Value
      6. Vehicle-To-Cloud (V2C)
        1. By Value
    3. By Connectivity
      1. Introduction
        1. Connectivity By Value
      2. Dedicated Short Range Communication (DSRC)
        1. By Value
      3. Cellular-V2X (C-V2X) Communication
        1. By Value
    4. By Vehicle Type
      1. Introduction
        1. Vehicle Type By Value
      2. Passenger Cars
        1. By Value
      3. Commercial Vehicles
        1. By Value
    5. Brazil
      1. By Communication
        1. Introduction
          1. Communication By Value
        2. Vehicle-To-Vehicle (V2V)
          1. By Value
        3. Vehicle-To-Infrastructure (V2I)
          1. By Value
        4. Vehicle-To-Pedestrian (V2P)
          1. By Value
        5. Vehicle-To-Device (V2D)
          1. By Value
        6. Vehicle-To-Cloud (V2C)
          1. By Value
      2. By Connectivity
        1. Introduction
          1. Connectivity By Value
        2. Dedicated Short Range Communication (DSRC)
          1. By Value
        3. Cellular-V2X (C-V2X) Communication
          1. By Value
      3. By Vehicle Type
        1. Introduction
          1. Vehicle Type By Value
        2. Passenger Cars
          1. By Value
        3. Commercial Vehicles
          1. By Value
    6. Mexico
    7. Argentina
    8. Chile
    9. Colombia
    10. Rest Of LATAM
  13. COMPETITIVE ASSESSMENT
    1. Adoption Matrix
    2. Automotive V2X Market Share By Manufacturers
    3. Automotive V2X Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
  14. MARKET PLAYERS ASSESSMENT
    1. Denso Corporation
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. Gross Margin
      6. Swot Analysis
      7. Recent Developmments
    2. Aptiv
    3. Infineon Technologies AG
    4. Continental AG
    5. Qualcomm Technologies, Inc.
    6. Autotalks Ltd.
    7. Cohda Wireless
    8. Kapsch TrafficCom
    9. Savari Inc.
    10. Lear Corporation
    11. LG Electronics
    12. Ford Motor Company
    13. Robert Bosch GmbH
    14. NXP Semiconductors
    15. Harman International
    16. STMicroelectronics
  15. RESEARCH METHODOLOGY
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data From Secondary Sources
      2. Primary Data
        1. Key Data From Primary Sources
        2. Breakdown Of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  17. DISCLAIMER


Table of Content and Figure @ https://straitsresearch.com/report/automotive-v2x-market/toc


Market News

  • In October 2022, At Infineon's OktoberTech Asia-Pacific 2022 Technology Forum in Singapore, VinFast, the first global manufacturer of smart electric vehicles in Vietnam, and Infineon Technologies AG, the industry leader in automotive semiconductor solutions, announced that they would be extending their partnership. In order to hasten VinFast's development of solutions for the future of smart mobility, the two businesses will establish a joint application competence center in Hanoi with a focus on electromobility.


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