Automotive V2X Market, By Vehicle Type, By Communication, By Connectivit, By Propulsion, By Unit ,By Offering, By Technology and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI508123 | Publish Date: May 2024 | No. of Pages: 167

Automotive V2X Market Overview

Automotive V2X Market was valued at US$ 8.5 Billion in 2024 and is projected to grow at a CAGR of 10.40% to reach US$ 21 Billion by 2034.

V2X is the surrounding traffic conditions which are transmitted to vehicles with greater precision that warns of traffic jams and street closures. C-V2X (Cellular vehicle-to-everything) is the V2X standard which uses LTE cellular bands separated from cellphone subscribers and also covers two systems for road conditions, real-time traffic, vehicle to cyclists, vehicle-to-infrastructure, and vehicle-to-vehicle.

Growing environmental concern among individuals has become the major factor in target market growth. Rising demand for connected vehicles has further driven the target market growth. Innovative technologies with advancement in 5G technology is further expected to create new opportunities in Automotive V2X Market growth over the forecast period

Automotive V2X Market Dynamics

Automotive V2X Market-Drivers and Restraints

Growing automotive industries and demand for vehicles

Rising demand for cars & other vehicles with growing automotive industries has become the major factor in target market growth. Disposable income allows the consumer to enhance their lifestyle and spend more on transportation needs in today’s busy life. V2X technology help in increasing traffic efficiency with cost saving of energy and time spent in traffic. Growing automotive industries with demand for vehicles is expected to fruitful the Automotive V2X Market growth in coming years.

Further, according to data published by Economic Times, in 2018, reveals that India has 22 cars per 1000 individuals, US has 980 cars per 1000 individuals while UK has 850 cars per 1000 individuals. New Zealand-774, Australia -740, Canada-662, Japan-591 and China-164 motor vehicles per 1000 individuals.

Rising demand for electric vehicles and adoption of V2X technology

Rising demand for electric vehicles due to increasing fuel prices has become the major contribution in target market growth. Further, adoption of V2X technology in electric vehicles is expected to propel the demand for Automotive V2X Market growth in future.

For instance, in 2022, In India, demand for electric vehicles has picked up exponentially. An Indian carmaker Tata Motors has won the category with sales of 15,198 electric cars with share of 85.37% and MG Motor India sold 2,045 cars with share of 11.49% and won second place. Benefits of V2X technology in Electric Vehicles has boost the target market growth.

For instance, in April 2022, Hyundai Motor planned to expand its portfolio energy solutions with development of V2X technology that integrates (BEV) battery electric vehicles and renewable energy into society.

Restrains:

However, lack of internet connectivity and lack of IT and communication infrastructure on highways in developing regions has restrained the Automotive V2X Market growth. Further, lack of 5G network in rural areas has hampered the Automotive V2X Market growth.

Access Crucial Insights at a Fraction of the Cost | Request Your Discount

Automotive V2X Market Segmentation

Automotive V2X Market is segmented based on Vehicle Type, Communication, Connectivity, Propulsion, Unit, Offering, Technology and Region.

Automotive V2X Market-Segmentation

Vehicle Type Insight

On the basis of Vehicle Type, Automotive V2X Market is segmented into Commercial Cars, Passenger Cars. Passenger Car is expected to dominate the target market growth because of disposable income and due to low interest rates the demand for cars is rising.

Communication Insights

On the basis of Communication, Automotive V2X Market is segmented into V2I, V2V, V2G, V2C, V2P and V2D.

Connectivity Insights

On the basis of Connectivity, Automotive V2X Market is segmented into Cellular, DSRC. Cellular connectivity is expected to dominate the target market growth due to its advanced wireless technology which enable the vehicle to stay connected on way and to communicate virtually with other vehicles.

Propulsion Insights

On the basis of Propulsion, Automotive V2X Market is segmented into EV, ICE

Unit Insights

On the basis of Units, Automotive V2X Market is segmented into Roadside Units, On-Board Units. On-Board Units is expected to dominate the target market growth as it offers safety measures for V2X and perform operation even when vehicle is at stationary phase.

Offering Insights

On the basis of Offering, Automotive V2X Market is segmented into Hardware and Software.

Technology Insights

On the basis of Technology, Automotive V2X Market is segmented into Intelligent Traffic Systems, Automated Driver Assistance, Passenger Information System, Emergency Vehicle Notification, Parking Management System, Fleet & Asset Management, Non-line of Sight, Line of Sight, Backing and Others.

Regional Insights:

On region the Automotive V2X Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period. Moreover, growing automotive industries, rapidly growing urbanization with rising economic status and purchasing power of an individual, rising adoption of advanced technologies, digital platform solutions and growing environmental concern is anticipated to increase demand for Automotive V2X in the region.

Reduce costs by up to 30% with a custom report tailored to your specific needs | Request Customized Report

Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Vehicle Type - Commercial Cars, Passenger Cars

By Communication - V2I, V2V, V2G, V2C, V2P, V2D

By Connectivity - Cellular, DSRC

By Propulsion - EV, ICE

By Unit - Roadside Units, On-Board Units

By Offering, By Technology

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Automotive V2X Market report based on Vehicle Type, Communication, Connectivity, Propulsion, Unit, Offering, Technology and Region

Automotive V2X Market, By Vehicle Type:

  • Commercial Cars
  • Passenger Cars

Automotive V2X Market, By Communication:

  • V2I (vehicle to infrastructure)
  • V2V (vehicle to vehicle)
  • V2G (vehicle to grid)
  • V2C (vehicle to cloud)
  • V2P (vehicle to pedestrian)
  • V2D (vehicle to device)

Automotive V2X Market, By Connectivity:

  • Cellular
  • DSRC (Dedicated short range communications)

Automotive V2X Market, By Propulsion:

  • EV (Electric Vehicles)
  • ICE (Internal Combustion Engines)

Automotive V2X Market, By Unit:

  • Roadside Units
  • On-Board Units

Automotive V2X Market, By Offering:

  • Hardware
  • Software

Automotive V2X Market, By Technology:

  • Intelligent Traffic Systems
  • Automated Driver Assistance
  • Passenger Information System
  • Emergency Vehicle Notification
  • Parking Management System
  • Fleet & Asset Management
  • Non-line of Sight
  • Line of Sight
  • Backing
  • Others

Automotive V2X Market, By Region:

  • North America
    • Middle East & Africa
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa
    • Latin America
        • Brazil
        • Mexico
        • Rest of Latin America
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Europe
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
      • U.S.
      • Canada

Automotive V2X Market Key Players

The key players operating the Automotive V2X Market includes, Qualcomm Inc., Continental AG, Robert Bosch GmbH, Autotalks Ltd., Cohda Wireless, Altran, STMicroelectronics, Infenion Technologies AG, Savari Inc., NXP Semiconductor, and others.

Automotive V2X Market Key Issues Addressed

 

  • In September 2022, Cohda Wireless launched world’s most advanced and versatile V2X connectivity solution “MK6 OBU” and “MK6 RSU” which will help to pave the way for introducing connected vehicles on highways and smart roads across the globe.
  • In January 2020, Qorvo launched complete new “V2X Front-end Solution” in TCU (Telematics and Control Unit) and antenna. New launched solution includes, first Band 47/Wi-Fi bulk acoustic wave co-existence filter.
  • In October 2020, Qualcomm joined with 100 automotive and technology companies in China to complete C-V2X large scale capacity test with interoperability demonstration. Tested vehicles and OBUs were equipped with Qualcomm “9150 C-V2X” chipset solution featured with its “Snapdragon Automotive 4G Platform” by supporting stable connectivity.
  • In January 2019, Novis Danlaw Inc., launched C-V2X (cellular vehicle to everything) RoutLink Roadside Unit and AutoLink On-board Unit and able to offer traffic efficiency, automated driving and improves safety of automotive.

Automotive V2X Market Company Profile

  • Qualcomm Inc.*
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Continental AG
  • Robert Bosch GmbH
  • Autotalks Ltd.
  • Cohda Wireless
  • Altran
  • STMicroelectronics
  • Infenion Technologies AG
  • Savari Inc.
  • NXP Semiconductor

“*” marked represents similar segmentation in other categories in the respective section

Automotive V2X Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Preview
    • Executive Summary
    • Key Findings—Global Outlook for medical carts Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Vehicle Type
      • Market Snippet, By Communication
      • Market Snippet, By Connectivity
      • Market Snippet, By Propulsion
      • Market Snippet, By Unit
      • Market Snippet, By Offering
      • Market Snippet, By Technology
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restrains
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Market Segmentation, By Vehicle Type
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Commercial Cars
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Passenger Cars
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034

 

  1. Market Segmentation, By Communication, 2024 – 2034, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • V2I
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • V2V
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • V2G
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • V2C
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • V2P
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • V2D
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  2. Market Segmentation, By Connectivity, 2024 – 2034, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Cellular
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • DSRC
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  3. Market Segmentation, By Propulsion, 2024 – 2034, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • EV
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • ICE
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  4. Market Segmentation, By Unit, 2024 – 2034, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Roadside Units
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • On-Board Units
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  5. Market Segmentation, By Offering, 2024 – 2034, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Hardware
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Software
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  6. Market Segmentation, By Technology, 2024 – 2034, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Intelligent Traffic Systems
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Automated Driver Assistance
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Passenger Information System
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Emergency Vehicle Notification
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Parking Management System
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Fleet & Asset Management
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Non-line of Sight
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Line of Sight
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Backing
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Others
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  7. Global Market, By Region, 2024 – 2034, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Vehicle Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Communication, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Connectivity, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Propulsion, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Unit, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Offering, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Technology, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By Vehicle Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Communication, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Connectivity, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Propulsion, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Unit, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Offering, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Technology, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Vehicle Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Communication, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Connectivity, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Propulsion, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Unit, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Offering, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Technology, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
  •  
    • Latin America
      • Market Size and Forecast (US$ Bn), By Vehicle Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Communication, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Connectivity, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Propulsion, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Unit, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Offering, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Technology, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Bn), By Vehicle Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Communication, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Connectivity, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Propulsion, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Unit, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Offering, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Technology, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  1. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  2. Company Profiles
  • Qualcomm Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Continental AG
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Robert Bosch GmbH
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Autotalks Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Cohda Wireless
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Altran
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • STMicroelectronics
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Infenion Technologies AG
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Savari Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • NXP Semiconductor
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

Automotive V2X Market is segmented into Vehicle Type, Communication, Connectivity, Propulsion, Unit, Offering, Technology and Region.

Automotive V2X Market is driven by factors like growing automotive industries and demand for vehicles and rising demand for electric vehicles and adoption of V2X technology

By region, the Automotive V2X market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.

The key players operating the Automotive V2X Market includes, Qualcomm Inc., Continental AG, Robert Bosch GmbH, Autotalks Ltd., Cohda Wireless, Altran, STMicroelectronics, Infenion Technologies AG, Savari Inc., NXP Semiconductor, and others.

Automotive V2X Market accounted for US$ 8.5 Billion in 2024 and is estimated to be US$ 21 Billion by 2034 and is anticipated to register a CAGR of 10.40%.