The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Vehicle-to-Everything (V2X) Market. The rising demand for the Vehicle-to-Everything (V2X) Market is expected to drive the demand for Vehicle-to-Everything (V2X), thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
Growing demand for vehicle-to-everything can be attributed to rising demand for autonomous cars and vehicles with more advanced safety features, especially in developed economies. Implementation of vehicle-to-everything communication increases drivers’ awareness about the surroundings and aids in facilitating autonomous driving. V2X assists in communicating information such as speed accuracy, brake pedal status, and heading. It also warns autonomous vehicles regarding nearby objects that are not directly visible (non-line-of-sight), which is a crucial feature for vehicle safety and for facilitating better decisions by autonomous cars. High incidence of road accidents is a significant factor driving demand for vehicle-to-everything communication. V2X communication help in accident prevention by warning the driver about a potential risk or object that may not be in line-of-sight of human vision or visible to other sensors.
Key Highlights of Report
- In June 2019, HARMAN International launched the Dual-Mode V2X system, intended for improving automotive safety.
- Vehicle-to-infrastructure segment held a significant revenue share in 2020. V2I is capable of lane and congestion management and helps in fuel efficient consumption and reduced emissions. It has been estimated that optimized freeway lane management and signal operations can result in fuel savings to a maximum of 22.0%.
- Intelligent traffic systems are immensely benefitted with vehicle-to-everything communication, which helps in improving traffic efficiency. Vehicles optimize their arrival by obtaining traffic light green signal cycle, and even traffic lights adjust on the basis of feedback received from arriving vehicles.
The latest research report entails an in-depth analysis of the current growth opportunities for various regions of the Vehicle-to-Everything (V2X) Market, gauging their revenue share over the forecast timeline. Furthermore, the report analyses the year-on-year growth rate of these regions over the forecast duration. The leading market regions profiled in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Major companies operating in vehicle-to-everything market include Continental AG, Infineon Technologies AG, Robert Bosch GmbH, NXP Semiconductors, Harman International, Delphi Technologies, Qualcomm Technologies Inc., DENSO Corporation, Autotalks Ltd., and STMicroelectronics.
Emergen Research has segmented the global vehicle-to-everything (V2X) market on the basis of communication type, application, connectivity, and region:
Communication Type Outlook (Revenue, USD Million; 2018–2028)
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Pedestrian (V2P)
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Cloud (V2C)
- Vehicle-to-Device (V2D)
- Vehicle-to-Grid (V2G)
Application Outlook (Revenue, USD Million; 2018–2028)
- Automated Driver Assistance
- Emergency Vehicle Notification
- Intelligent Traffic Systems
- Passenger Information System
- Fleet and Asset Management
- Parking Management System
Connectivity Outlook (Revenue, USD Million; 2018–2028)
- Dedicated Short Range Communication (DSRC)
- Cellular V2X
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