Automotive V2X Market by Communication Type, Connectivity (Cellular-V2X Communication, Dedicated Short-Range Communication), Offering, Vehicle Type

List of Tables

[193 Pages Report] The Automotive V2X Market size was estimated at USD 4.90 billion in 2023 and expected to reach USD 6.53 billion in 2024, at a CAGR 33.70% to reach USD 37.48 billion by 2030.

Automotive vehicle-to-everything (V2X) technology enables communication between a vehicle, reducing the possibilities of any entity or other vehicle get affected. This technology utilizes sensors, cameras, and wireless connectivity, allowing cars to associate with and communicate with their drivers and surroundings. V2X technology enables real-time data transmission using wireless communication protocols, such as dedicated short-range communication (DSRC) or cellular vehicle-to-everything (C-V2X). Vehicle-to-everything, or V2X solutions, connect road users and the infrastructure. The rising adoption of connected cars, rapid urbanization, and industrialization drive the market. The increasing demand for cloud-based V2X communication in traffic systems and the need for scalable, flexible, and intelligent traffic management solutions are the major factors of the market expansion. Governments globally are placing a significant focus on road safety features to enhance the safety of road users, which has significantly increased the demand for the automotive vehicle-to-everything (V2X) market. However, the privacy of users of vehicles is at risk due to their locations and other details being collected by the system, and the high cost of developing and deploying V2X infrastructure, including vehicle-to-vehicle and vehicle-to-infrastructure communication, posing financial hurdles for widespread adoption of the market. V2X technology holds significant potential to enhance environmental sustainability in the greener transportation ecosystem, and government support for integrating V2X technology in automated vehicles is creating a lucrative opportunity in the forecasted period.

KEY MARKET STATISTICS
Base Year [2023]	USD 4.90 billion
Estimated Year [2024]	USD 6.53 billion
Forecast Year [2030]	USD 37.48 billion
CAGR (%)	33.70%

Communication Type: Rising usage of vehicle-to-vehicle communication for road safety

Vehicle-to-cloud communication enables vehicles to communicate with applications running in cloud computing environments to improve situational awareness and increase road efficiency and safety. The vehicle-to-cloud (V2C) type allows vehicles to access real-time data from external sources such as traffic, weather, and other information. Vehicle-to-device (V2D) is usually implemented via Bluetooth protocol with smart devices to exchange information, providing enhanced support services such as navigation assistance, remote diagnostics, and over-the-air updates. Vehicle-to-grid (V2G) is preferably utilized in battery-operated vehicles to balance electric grids during peak loads and reduce energy costs by allowing vehicles to return electricity to the grid when necessary. Vehicle-to-infrastructure (V2I) is part of intelligent transportation systems (ITS), offering a bidirectional exchange of information between the vehicle and the road infrastructure. Vehicle-to-infrastructure communication type captures information from data broadcasted from the ITS (weather conditions, accidents, and speed limits) and sensors installed in the road infrastructure (cameras, traffic lights, lane markers, streetlights, road signs, and parking meters). 360-degree cameras, LiDAR technology to facilitate collision warnings, and blind spot warnings are provided to detect pedestrians through vehicle-to-pedestrian (V2P) communication systems. Vehicle-to-vehicle (V2V) communication exchanges data between vehicles to increase drivers' situational awareness and overall road safety by providing real-time updates about any nearby obstacles & dangers.

Connectivity: Increasing adoption of cellular-V2X communication to exchange messages between vehicles

Cellular V2X communication uses 3GPP standardized 4G LTE or 5G mobile cellular connectivity to exchange messages between vehicles, pedestrians, and wayside traffic control devices such as traffic signals. It utilizes the existing cellular infrastructure to provide a wide range of communication capabilities for vehicles, including vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), and vehicle-to-network (V2N) communications. Dedicated short-range communications is a technology for directly exchanging vehicle-to-everything data and other intelligent transportation systems between vehicles, other road users, and roadside infrastructure.

Offering: Growing preference for automotive V2X for traffic management systems

Vehicle-based offerings focus on integrating V2X technology within vehicles to enable communication and enhance driving capabilities. In contrast, infrastructure-based offerings focus on deploying components and systems in the physical environment to facilitate V2X communication and improve overall transportation systems. V2X relies upon supportive network infrastructure, such as a mesh network between vehicles and fixed Infrastructure, to give the necessary coverage. A roadside unit (RSU) helps communicate with the traffic management center and the vehicles. V2X involves vehicles sending data to a wider network, which is later aggregated by a traffic management system to support cooperative, safe, and efficient traffic management. Both types of V2X communication have their characteristics depending on specific application requirements such as coverage area or latency needs. Infrastructure-based systems are more suitable for high-reliability applications, such as emergency services or adaptive traffic control systems, due to their higher coverage areas and lower latency than vehicle-based systems. On the other hand, for applications where mobility is important, such as passenger cars traveling long distances between large cities, Vehicle-based solutions are more appropriate due to their less restrictive installation requirements than infrastructure-based ones. These offerings create a connected ecosystem that enhances safety, efficiency, and the driving experience.

Vehicle Type: Increasing application of automotive V2X for passenger cars to create safe and connected vehicles

Automotive V2X technology is used in commercial vehicles and passenger cars to provide road safety, traffic efficiency, energy savings, and mass surveillance. By integrating V2X technology into passenger cars, automotive manufacturers can create safer, more efficient, and connected vehicles that can communicate and cooperate with other vehicles and the surrounding infrastructure. Automotive V2X technology in commercial vehicles improves fleet management, enhances safety, increases operational efficiency, and enables connectivity and telematics services. Commercial vehicle operators can optimize operations, reduce costs, and provide safer and more efficient transportation services by leveraging the capabilities of V2X technology.

Regional Insights

Americas has a highly developed infrastructure for the automotive V2X market, owing to the rising adoption of automatic and smart vehicles. The developments in the Internet of Things (IoT), 5G technology, and increased awareness of road safety are contributing to the development of the automotive V2X market in the region. Established market players focus on research and development to implement technological advancements in the European market. The rapidly growing consumer preference for connected vehicles is increasing the market growth in European countries. The European Union has predicted 175 zettabytes of data to be generated by connected devices by 2025 and created regulations for data sharing between the connected vehicles, ensuring users' data safety. Governments across countries in the APAC region have been investing heavily in the V2X technology to ensure safety, security, and efficiency of transportation systems. Japan, South Korea, and China have invested significantly in developing V2X infrastructure, such as roadside units, dedicated short-range communication networks, traffic control centers, etc., to support connected mobility services.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Automotive V2X Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Automotive V2X Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Automotive V2X Market, highlighting leading vendors and their innovative profiles. These include Capgemini SE, Cohda Wireless Pty Ltd., Continental AG, Denso Corporation, Fermata Energy LLC, Ford Motor Company, Gateworks Corporation, General Motors, Huawei Technologies Co., Ltd., Hyundai Motor Company, Infineon Technologies AG, Intel Corporation, International Business Machines Corporation, Kapsch TrafficCom AG, Lear Corporation, LG Electronics Inc., Microsec Ltd., Nokia Corporation, NTT Docomo, Inc., NXP Semiconductors N.V., Panasonic Holdings Corporation, Qualcomm Incorporated, Quectel Wireless Solutions Co., Ltd., Robert Bosch GmbH, Rohde & Schwarz GmbH & Co. KG, Samsung Electronics Co., Ltd., Siemens AG, STMicroelectronics N.V., TDK Corporation, Telefonaktiebolaget LM Ericsson, Texas Instruments Incorporated, Thales Group, Toyota Motor Corporation, u-blox AG, Valeo S.A., Vector Informatik GmbH, Visteon Corporation, and Volkswagen AG.

Market Segmentation & Coverage

This research report categorizes the Automotive V2X Market to forecast the revenues and analyze trends in each of the following sub-markets:

Communication Type
- Vehicle-to-Cloud
- Vehicle-to-Device
- Vehicle-to-Grid
- Vehicle-to-Infrastructure
- Vehicle-to-Pedestrian
- Vehicle-to-Vehicle

Connectivity
- Cellular-V2X Communication
- Dedicated Short-Range Communication

Offering
- Infrastructure-Based
  - Communication Infrastructure
  - Roadside Units
  - Traffic Management Systems

Vehicle-Based
- Connected Vehicle Applications
- In-Vehicle Displays
- On-Board Units

Vehicle Type
- Commercial Vehicles
- Passenger Cars

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Automotive V2X Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Automotive V2X Market?

3. What are the technology trends and regulatory frameworks in the Automotive V2X Market?

4. What is the market share of the leading vendors in the Automotive V2X Market?

5. Which modes and strategic moves are suitable for entering the Automotive V2X Market?

Product Code: MRR-205091A8587F

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand for in-vehicle connectivity solutions
  - 5.1.1.2. Government focus on road safety features
  - 5.1.1.3. Rising demand for cloud-based V2X communication in traffic systems
- 5.1.2. Restraints
  - 5.1.2.1. High cost of implementation and limitations of automotive V2X system
- 5.1.3. Opportunities
  - 5.1.3.1. Potential of 5G & AI technology coupled with the advancements in cellular-V2X (CV2X) technology
  - 5.1.3.2. Potential of V2X technology to enhance environmental sustainability
- 5.1.4. Challenges
  - 5.1.4.1. Security and privacy issues associated with V2X communication systems
5.2. Market Segmentation Analysis
- 5.2.1. Communication Type: Rising usage of vehicle-to-vehicle communication for road safety
- 5.2.2. Connectivity: Increasing adoption of cellular-V2X communication to exchange messages between vehicles
- 5.2.3. Offering: Growing preference for automotive V2X for traffic management systems
- 5.2.4. Vehicle Type: Increasing application of automotive V2X for passenger cars to create safe and connected vehicles
5.3. Market Trend Analysis
- 5.3.1. Growing regulatory support for the development and deployment of V2X technologies in the automotive sector in the Americas
- 5.3.2. Supportive government initiatives for connected vehicle infrastructure and ongoing advancements in product portfolios in the APAC region
- 5.3.3. EMEA's focus on road safety, traffic efficiency, and autonomous vehicle deployment
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis

6. Automotive V2X Market, by Communication Type

6.1. Introduction
6.2. Vehicle-to-Cloud
6.3. Vehicle-to-Device
6.4. Vehicle-to-Grid
6.5. Vehicle-to-Infrastructure
6.6. Vehicle-to-Pedestrian
6.7. Vehicle-to-Vehicle

7. Automotive V2X Market, by Connectivity

7.1. Introduction
7.2. Cellular-V2X Communication
7.3. Dedicated Short-Range Communication

8. Automotive V2X Market, by Offering

8.1. Introduction
8.2. Infrastructure-Based
8.3. Vehicle-Based

9. Automotive V2X Market, by Vehicle Type

9.1. Introduction
9.2. Commercial Vehicles
9.3. Passenger Cars

10. Americas Automotive V2X Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Automotive V2X Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Automotive V2X Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Hyundai Mobis and Autotalks Collaborate to Implement Cutting-edge V2X Technology for Connected Cars
- 13.3.2. TTTech Auto, ZettaScale Extend Collaboration to Launch in-Vehicle, V2X Service
- 13.3.3. Qualcomm Acquires Autotalks to Boost Snapdragon's Automotive Safety Technology, Reportedly for USD 350-400M
- 13.3.4. FCC Waiver Enables Harman to Deploy C-V2X Technology
- 13.3.5. LG Innotek Preoccupying the Autonomous Driving Vehicle Components Market with 2nd Generation '5G-V2X Cellular Module
- 13.3.6. Applied Information Granted Patent to Streamline Data and Reduce Bandwidth for Cellular Vehicle to Everything Communications up to 97%
- 13.3.7. VicOne and DFI Expand Partnership to Provide Advanced Embedded Automotive Cybersecurity Solutions for Safely Integrating Connected Cars and Smart Cities
- 13.3.8. MobileDrive Details ADAS-Focused Technology Partnership with Siemens
- 13.3.9. Charging Firm Indra Receives New Tranche of Investment
- 13.3.10. Hankook & Company Acquires Autonomous Driving Technology from 3Secondz
- 13.3.11. HARMAN and American Center for Mobility (ACM) Announce Strategic Collaboration at MWC 2023
- 13.3.12. Phoenix Motorcars & Fermata Energy Form Long-Term Partnership for V2X Bidirectional Charging
- 13.3.13. UK announces GBP 16 Million (USD 19.57 million) in V2X and Demand Side Response Projects
- 13.3.14. CEVA and Autotalks Expand Collaboration to Create World's First 5G-V2X Solution
- 13.3.15. Quectel Launches Automotive Grade 5G NR Release 16 Modules to Support Autonomous Driving

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio