DUBLIN--(BUSINESS WIRE)--Oct 13, 2021--

The Global V2X in Automotive Market was valued USD 881.62 Million in 2020 and is predicted to grow at CAGR of around 15.82%, in value terms, over the next five years, on the back of rapid increase in urbanization and industrialization across the globe.

V2X stands for Vehicle-to-Everything (V2X) technology which enables the automotive vehicle to interact virtually with everything moving in surrounding environment. It is a vehicular communication approach that supports the transmission of information from a vehicle to its surrounding traffic that can affect the movement of the vehicle.

The goal behind installing a Vehicle-to-Everything technology in a vehicle is to improve road safety, energy reduction, and to increase traffic efficiency on the roads. The V2X-based Intelligent Transport System (ITS) has been developed, which is considered as the key enabling technology to improve road safety, traffic competence and driving experience.

The growth of the Global V2X in Automotive Market is propelled by the ongoing development and commercialization of cellular technologies and related infrastructure. These include systems such as 5G, LTE, and radio access technology (RAT), which reinforce smart transportation applications such as collision warning & avoidance, lane keeping assistance, and obstacle detection.

The Global V2X in Automotive Market is segmented based on communication type, connectivity type, offering type, technology type, propulsion type, company and region. Majority of Vehicle-to-Everything (V2X) demands come from Asia Pacific region, hence organizing them as leaders of the mainstream market in 2020. Vehicle-to-Everything (V2X) technology demand is briskly growing in North America, but the dominance of Asia-Pacific in the Global V2X in Automotive Market is anticipated to continue in the forecast period.

The lockdown imposed to contain the spread of virus has disrupted the supply chain for the automotive industry, negatively influencing the V2X market. As different vehicle parts are manufactured and assembled in different regions, the lockdown and international trade restrictions due to closed borders, increased the shortage of required vehicle parts and limited the supply.

Moreover, companies adopted just-in-time production strategy due to tight budget which further makes the supply chain vulnerable to disruptions. Global auto production is strongly dependent on China and therefore lockdown in China has resulted in supply shortages for assembly of all OEMs in North America, Europe, and Asia.

Nevertheless, the market is showing positive signs of recovery, because of which the Global V2X in Automotive Market is expected to recover from the Covid-19 impact in around 3 years.

Some of the major players operating in the Global V2X in Automotive Market are Robert Bosch GmbH, Continental AG, NXP Semiconductors N.V., Infineon Technologies AG, DENSO Corporation.

Apart from these companies, other companies like Qualcomm Technologies, Inc., HARMAN International, etc. are also increasing their marketing activities and enriching their product portfolios to increase their customer outreach.

Objective of the Study:

  • To analyse the historical growth in the market size of the Global V2X in Automotive Market from 2016 to 2020.
  • To estimate and forecast the market size of the Global V2X in Automotive Market in terms of value as well as volume from 2021 to 2026 and growth rate until 2026.
  • To assess the demand-supply scenario of the Global V2X in Automotive Market which covers their production, demand, supply, and net inventory status globally.
  • To classify and forecast the Global V2X in Automotive Market based on communication type, connectivity type, offering type, technology type, propulsion type, company, and regional distribution.
  • To identify drivers and challenges for the Global V2X in Automotive Market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global V2X in Automotive Market.
  • To conduct the pricing analysis for the Global V2X in Automotive Market.
  • To identify and analyze the profile of leading players involved in the manufacturing of the Global V2X in Automotive Market.

Report Scope:

Years considered for this report:

  • Historical Years: 2016-2019
  • Base Year: 2020
  • Estimated Year: 2021
  • Forecast Period: 2022-2026

Global V2X in Automotive Market, By Communication Type:

  • V2C
  • V2G
  • V2P
  • V2I
  • V2V
  • V2D

Global V2X in Automotive Market, By Connectivity Type:

  • DSRC Connectivity
  • Cellular Connectivity

Global V2X in Automotive Market, By Offering Type:

  • Hardware
  • Software

Global V2X in Automotive Market, By Technology Type:

  • Emergency Vehicle Notification
  • Automated Driver Assistance
  • Passenger Information System
  • Line of Sight

Global V2X in Automotive Market, By Propulsion Type:

  • ICE Vehicles
  • Electric Vehicles

Global V2X in Automotive Market, By Region:

  • Asia-Pacific
  • Europe
  • North America
  • South America
  • Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global V2X in Automotive Market.

  • HARMAN International (Samsung Electronics Co. Ltd.)
  • Qualcomm Technologies, Inc.
  • DENSO Corporation
  • Autotalks Ltd.
  • Continental AG
  • NXP Semiconductors N.V.
  • Robert Bosch GmbH
  • Cohda Wireless Pty Ltd
  • Infineon Technologies AG
  • BorgWarner Inc.

For more information about this report visit https://www.researchandmarkets.com/r/2s4g3w

Laura Wood, Senior Press Manager

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KEYWORD:

INDUSTRY KEYWORD: FLEET MANAGEMENT NETWORKS AFTERMARKET AUTOMOTIVE TECHNOLOGY AUTOMOTIVE MANUFACTURING GENERAL AUTOMOTIVE MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 10/13/2021 12:30 PM/DISC: 10/13/2021 12:32 PM

Copyright Business Wire 2021.

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