Vehicle-to-Everything Market Forecasts to 2030 - Global Analysis by Communication Type, Vehicle Type, Component, Connectivity, Propulsion, Application, End User and By Geography

According to Stratistics MRC, the Global Vehicle-to-Everything (V2X) Market is accounted for $2.6 billion in 2024 and is expected to reach $21.3 billion by 2030 growing at a CAGR of 41.2% during the forecast period. Vehicle-to-Everything (V2X) refers to a communication system that enables vehicles to interact with their surroundings, including other vehicles (V2V), infrastructure (V2I), pedestrians (V2P), and networks (V2N). This technology enhances road safety, traffic efficiency, and driving convenience by enabling real-time data exchange, which supports applications such as collision avoidance, traffic management, and autonomous driving.

Market Dynamics:

Driver:

Enhanced road safety

V2X technology significantly improves road safety by enabling real-time communication between vehicles, infrastructure, and other road users. This communication allows for early warning systems, collision avoidance, and improved traffic management. By providing drivers with crucial information about their surroundings, potential hazards, and road conditions, V2X helps reduce accidents and save lives. The technology's ability to enhance safety is a major driving force for its adoption, as governments and automakers prioritize reducing road fatalities and injuries.

Restraint:

High implementation costs

The implementation of V2X technology involves substantial costs, including infrastructure development, vehicle equipment, and system integration. These high costs can be a significant barrier to widespread adoption, particularly in developing countries or regions with limited resources. Additionally, the need for extensive roadside infrastructure and the potential requirement for retrofitting existing vehicles add to the overall expense. The cost factor may slow down the market growth.

Opportunity:

Autonomous vehicles

V2X technology is crucial for enabling safe and efficient autonomous driving by providing vehicles with comprehensive situational awareness. As the automotive industry moves towards higher levels of autonomy, the demand for advanced V2X systems is expected to surge. This synergy between V2X and autonomous vehicles could accelerate market growth, drive innovation, and potentially lead to new applications and use cases for V2X technology beyond traditional transportation.

Threat:

Regulatory hurdles

The V2X market faces potential threats from regulatory challenges and uncertainties. Different regions and countries may adopt varying standards and regulations for V2X technology, leading to fragmentation in the global market. Issues such as spectrum allocation, data privacy concerns, and cybersecurity requirements can complicate the deployment of V2X systems. Regulatory delays or inconsistencies could slow down market growth and create barriers to entry for some players.

Covid-19 Impact:

The COVID-19 pandemic initially slowed V2X market growth due to disruptions in automotive production and reduced investments. However, it also highlighted the importance of connected technologies for resilient transportation systems. The pandemic accelerated interest in contactless and automated solutions, potentially driving long-term adoption of V2X technologies for safer and more efficient mobility.

The passenger cars segment is expected to be the largest during the forecast period

The passenger cars segment is estimated to dominate the V2X market due to its high volume and consumer-facing nature. Automakers are increasingly integrating V2X technologies into new car models to enhance safety features, improve traffic efficiency, and provide value-added services to consumers. The large existing fleet of passenger cars also presents opportunities for aftermarket V2X solutions. As consumer awareness of connected car benefits grows and regulations promoting V2X adoption come into effect, the passenger car segment is expected to drive significant market growth and innovation in V2X applications.

The electric vehicles (EVs) segment is expected to have the highest CAGR during the forecast period

The electric vehicles (EVs) segment is estimated to register the highest growth rate during the forecast period. EVs are often at the forefront of automotive technology adoption, making them ideal platforms for integrating advanced V2X systems. V2X can significantly benefit EVs by optimizing charging infrastructure usage, improving range estimation, and enhancing overall energy efficiency. As governments worldwide push for electrification to reduce emissions, the synergy between EVs and V2X technologies is expected to drive rapid adoption and innovation, leading to a higher growth rate.

Region with largest share:

Asia Pacific's dominance is expected to dominate the Vehicle-to-Everything (V2X) market. The region has a large and rapidly growing automotive market, particularly in countries like China, Japan, and South Korea. These countries are also at the forefront of technological innovation and have made significant investments in smart transportation infrastructure. Government initiatives promoting connected and autonomous vehicles, coupled with the presence of major automotive and technology companies, contribute to the region's market leadership.

Region with highest CAGR:

Asia Pacific is expected to maintain the highest growth rate in the V2X market due to several dynamic factors. Rapid urbanization and increasing vehicle ownership in emerging economies are creating urgent needs for smart transportation solutions. Governments in the region are actively supporting V2X technology through favorable policies and infrastructure investments. The region's strong 5G rollout is providing the necessary communication backbone for advanced V2X applications. Additionally, the fast-growing EV market in countries like China is driving innovation in connected vehicle technologies, further accelerating V2X adoption and market growth.

Key players in the market

Some of the key players in Vehicle-to-Everything (V2X) market include Qualcomm Technologies, Inc., Autotalks Ltd., Harman International, Huawei Technologies Co., Ltd., Continental AG, NXP Semiconductors, Infineon Technologies AG, Robert Bosch GmbH, STMicroelectronics, Aptiv PLC, Denso Corporation, Cisco Systems, Inc., Cohda Wireless Pty Ltd., Kapsch TrafficCom AG, AUTOCRYPT Co., Ltd., Renesas Electronics Corporation, Texas Instruments, and Harman International Industries, Inc.

Key Developments:

In January 2024, the global semiconductor manufacturer and leader in power systems and IoT Infineon Technologies AG announced its partnership with OMRON Social Solutions Co. Ltd., a pioneering company in social systems technology. Combining Infineon's first-class gallium nitride (GaN) based power solutions with the innovative circuit topology and control technology of OMRON now enables one of Japan's smallest and lightest vehicle-to-everything (V2X) charging systems by OMRON Social Solutions. This partnership will further drive innovation towards wide bandgap materials in power supplies, help to accelerate the transition to renewable energies, a smarter grid, and the adoption of electric vehicles, while fostering decarbonization and digitalization.

In October 2023, HARMAN, an automotive technology company and subsidiary of Samsung Electronics Co., Ltd., announced it has been selected as "Vehicle-to-Everything (V2X) Company of the Year" in the fourth annual AutoTech Breakthrough Awards conducted by AutoTech Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global automotive and transportation technology markets today.

In May 2023, Qualcomm announced that its subsidiary, Qualcomm Technologies, Inc., has entered into a definitive agreement to acquire Autotalks. The transaction is subject to customary closing conditions.

Communication Types Covered:

• Vehicle-to-Vehicle (V2V)
• Vehicle-to-Pedestrian (V2P)
• Vehicle-to-Cloud (V2C)
• Vehicle-to-Infrastructure (V2I)
• Vehicle-to-Grid (V2G)
• Vehicle-to-Network (V2N)
• Vehicle-to-Device (V2D)

Vehicle Types Covered:

• Passenger Cars
• Commercial Vehicles
• Emergency Vehicles

Components Covered:

• Hardware
• Software
• Services

Connectivity's Covered:

• Dedicated Short Range Communication (DSRC)
• Cellular-V2X
• Hybrid

Propulsions Covered:

• Electric Vehicle (EV)
• Internal Combustion Engine (ICE)

Applications Covered:

• Automated Driver Assistance Systems (ADAS)
• Emergency Vehicle Notification
• Traffic Management
• Parking Assistance
• Fleet Management
• Other Applications

End Users Covered:

• Automotive Manufacturers
• Tier-1 Suppliers
• Telecommunication Companies
• Government Agencies
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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