PUBLISHER: The Business Research Company | PRODUCT CODE: 1672303
PUBLISHER: The Business Research Company | PRODUCT CODE: 1672303
Vehicle-to-Everything (V2X) is a communication system integrated into vehicles, enabling exchanges of data with various elements of the traffic system. This technology enhances traffic efficiency by alerting drivers to traffic conditions, suggesting alternate routes, and identifying available parking spaces.
Automotive V2X technologies encompass emergency vehicle notification, automated driver assistance, passenger information systems, line of sight, and others. Connectivity options include Dedicated Short-Range Communication (DSRC) and cellular networks. Emergency vehicle notification facilitates alerts about approaching emergency vehicles. Vehicle types involved primarily comprise passenger cars and commercial vehicles. Communications within V2X include Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Grid (V2G), Vehicle-to-Cloud (V2C), and Vehicle-to-Device (V2D).
The automotive V2X market research report is one of a series of new reports from The Business Research Company that provides automotive V2X market statistics, including automotive V2X industry global market size, regional shares, competitors with a automotive V2X market share, detailed automotive V2X market segments, market trends and opportunities, and any further data you may need to thrive in the automotive V2X industry. This automotive V2X market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive V2X market size has grown exponentially in recent years. It will grow from $1.59 billion in 2024 to $2.28 billion in 2025 at a compound annual growth rate (CAGR) of 43.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in investments in smart cities, increase in occurrences of vehicle theft, increase in occurrences of vehicle theft and rise in demand for autonomous mobility.
The automotive V2X market size is expected to see exponential growth in the next few years. It will grow to $10.76 billion in 2029 at a compound annual growth rate (CAGR) of 47.5%. The growth in the forecast period can be attributed to rapid urbanization, increasing safety features in automobiles, the growing automotive industry, and growing demand for electric vehicles (EVs). Major trends in the forecast period include a focus on advanced vehicle-to-everything (v2x) connectivity solutions to provide reliable products to their customers and strengthen their market, focusing on new c-v2x technology pilot projects, advancements in technology, use of 5g technology in automotive v2x, focus on partnerships and collaborations, increasing adoption of cellular v2x to enhance safety of vehicles, and integration of artificial intelligence (AI) technology.
The rising demand for fully autonomous vehicles is anticipated to accelerate the growth of the automotive V2X market in the upcoming years. Autonomous vehicles are characterized as self-driving vehicles that operate without human intervention or with minimal human oversight. V2X technology provides an advantage for autonomous vehicles by offering information about objects that may be undetectable by other sensors. Additionally, it can enhance traffic efficiency by providing details about traffic signals. For instance, a report published in December 2022 by the Insurance Institute for Highway Safety, a US-based non-profit organization, projected that there would be 3.5 million autonomous vehicles, or self-driving cars, on American roads by 2025. Furthermore, it is expected that 4.5 million autonomous vehicles will be on the road by 2030. Therefore, the increasing demand for fully autonomous vehicles is driving the growth of the automotive V2X market.
Advancements in next-generation communication technologies, such as 5G, will propel the automotive V2X market. 5G represents the fifth generation of wireless network technology, offering enhanced speeds and improved capacity for wireless services. Compared to earlier generations like 4G and 3G, 5G enables greater data transfer potential, enhancing V2X communication systems. For instance, a report by 5G Americas, a US-based industry trade organization comprised of leading telecommunications service providers and manufacturers, indicated that global 5G wireless connections surged by 76% from the end of 2021 to the end of 2022, reaching 1.05 billion. This figure is projected to grow to 5.9 billion by the end of 2027. The increasing adoption of 5G will drive the demand for V2X technologies utilized in vehicles, thus fueling the automotive V2X market.
The automotive V2X market is experiencing a noteworthy trend with the proliferation of technological advancements, particularly the adoption of LTE-V2X technology. LTE-V2X, or Long-Term Evolution Vehicle-to-Everything, represents an innovative information and communication technology applied in road transportation systems. It facilitates the exchange of information between vehicles, humans, networks, and infrastructure. Key companies in the automotive V2X sector are actively engaged in the development of LTE-V2X technology to fortify their market positions. A notable example is Cohda Wireless, an Australia-based developer of safe and connected vehicle solutions, which introduced the MK6 Road-Side Unit (RSU) in September 2022. This RSU is a sophisticated and versatile vehicle-to-everything connectivity solution designed to enhance communication technology in connected vehicles. The MK6 RSU supports various communication capabilities, including DSRC, C-V2X, LTE/5G, and Wi-Fi/Bluetooth, offering reliability, flexibility, and interoperability for connected car deployments on smart roads and highways globally.
A prominent trend shaping the automotive V2X market is the integration of 5G technology. 5G, denoting the fifth generation of wireless mobile network technology, is designed to connect a myriad of objects, machines, and devices. In the context of automotive V2X, 5G technology is revolutionizing the driving experience by enabling cars to communicate with each other, share data regarding their current destination and speed based on previous road conditions, and connect to a city's smart network for accessing services and finding available parking. Tethered automotive V2X involves bringing in the modem and the UICC (SIM), while embedding intelligence/applications, and utilizing the vehicle HMI (human-machine interface). Automotive HMIs enhance interactions between drivers and vehicles in a more intuitive manner. Major players in the market are strategically focusing on the development of automotive V2X systems capable of 5G connectivity to advance connected technologies. A notable instance is General Motors, a USA-based automotive manufacturing company, which launched 5G connectivity vehicles for Chinese consumers in 2022.
In January 2023, Danlaw Inc., a US-based firm specializing in Vehicle-to-Everything (V2X) technology, acquired Cohda Wireless for an undisclosed sum. This acquisition is part of Danlaw's initiative to enhance connected vehicle safety and smart city solutions as it aims for global expansion. By merging the strengths, resources, and expertise of both companies, the goal is to improve safety solutions, boost connectivity and location accuracy, promote smart city developments, accelerate innovations in V2X technology, and expand their global presence. Cohda Wireless is a provider of V2X technology based in Australia.
Major companies operating in the automotive V2X market include Robert Bosch GmbH, NXP Semiconductors N.V., Samsung Electronics Co. Ltd., Lear Corporation, Continental AG, Qualcomm Technologies, Inc., LG Electronics, Aptiv PLC, Autotalks Ltd., Infineon Technologies AG, STMicroelectronics, Renesas Electronics, Aisin Automotive, Jost India, Mando Automotive India Pvt. Ltd, Automotive Axles Ltd, Denso India Pvt Ltd, Volvo Cars, Audi AG, Fibocom, Mercedes, Cohda Wireless, BMW Group, Delphi Technologies, Avtovaz, Avtotor, Kamaz, Sreda Ltd., Fort Telecom, Savari Inc., Harman International, Ford Motor Company, Verizon Communications, AT&T Inc.
North America was the largest region in the automotive V2X market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive v2x market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive V2X market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The automotive V2X market includes revenues earned by entities by offering optimize traffic flow, reduce traffic congestion and lessen the environmental impact of transportation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive V2X Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive v2x market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive v2x ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive v2x market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.