The global market for V2X should grow from $1.0 billion in 2021 to $6.5 billion by 2026, at a compound annual growth rate (CAGR) of 45.0% for the period of 2021-2026.
Report Scope
In this report, the market has been segmented based on offering, communication, connectivity, propulsion, unit and geography. The report provides an overview of the global market for V2X and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period from 2021 through 2026. Market values have been estimated based on the total revenues of V2X manufacturers.
The report covers the market for V2X with regards to their applications and types across different regions. It also focuses on the major trends and challenges that affect the market and the vendor landscape.
The Report Includes
- 37 tables
- A brief general outlook of the global market for V2X (vehicle-to-everything) communication and related technologies
- Analyses of the global market trends, with historic data from 2020, market estimation for 2021, 2023 and 2025, and projections of compound annual growth rates (CAGRs) through 2026
- Estimation of the market size and revenue forecast for V2X vehicular communication system, and corresponding market share analysis by type of communication, connectivity/navigation technology, propulsion, offering technology, vehicle unit, and geographic region
- Discussion of market trends and industry structure with relate to connected vehicles technology, applications and business considerations of the global V2X market and descriptions of market forces relevant to V2X and its related segments
- Outlining details of key market dynamics (DROs) for V2X technology, regulatory scenario, and impact of COVID-19 on the progress of this market
- Highlights of the growth strategies adopted by leading automotive players in the ecosystem, their competitive benchmarking and company share analysis
- Descriptive company profiles of the major manufacturers of V2X metrology including, Autotalks ltd., HARMAN International, Huawei, NXP Semiconductors, Qualcomm, and Robert Bosch
Table of Contents
Chapter 1 Introduction
- Study Goals and Objectives
- Scope of Report
- Reasons for Doing This Study
- Intended Audiences
- Information Sources
- Methodology
- Geographic Breakdown
- Analyst's Credentials
- Custom Research
- Related Reports
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
- Overview
- Impact of COVID-19 on the V2X Market
- Applicability of V2X by Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Dynamics
- Market Drivers
- Market Opportunities
- Market Challenges
Chapter 4 Market Breakdown by Solution
- Introduction
- Hardware
- Software
Chapter 5 Market Breakdown by Connectivity
- Introduction
- Dedicated Short-Range Communications (DSRC)
- Cellular-V2X (C-V2X)
Chapter 6 Market Breakdown by Communication
- Introduction
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Grid (V2G)
- Vehicle-to-Pedestrian (V2P)
- Vehicle-to-Cloud (V2C)
- Vehicle-to-Device (V2D)
Chapter 7 Market Breakdown by Propulsion
- Introduction
- Internal Combustion Engines (ICE)
- Electric Vehicles (EVs)
Chapter 8 Market Breakdown by Unit
- Introduction
- Onboard Units
- Roadside Units
Chapter 9 Market Breakdown by Region
- Introduction
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Spain
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Chapter 10 Company Profiles
- Companies Involved on the Supply Side
- Arada Systems Inc.
- Autotalks Ltd.
- Cohda Wireless Pty
- Commsignia
- Connected Signals
- Continental Ag
- Denso Corp.
- Derq Inc.
- Haas Alert
- Harman International
- Huawei Technologies Co., Ltd.
- Infineon Technologies Ag
- Kapsch Group
- Nxp Semiconductors
- Qualcomm Inc.
- Robert Bosch Gmbh
- Savari Technologies Pvt. Ltd.
- STMicroelectronics N.V.
- Valerann
- Visteon
- Companies Involved On The Demand Side
- Audi Ag
- Bayerische Motoren Werke Ag (Bmw)
- Daimler
- General Motors
- Ford Motor Co.
- Geely
- Groupe Psa
- Jaguar Land Rover
- Saic Motor Co. Ltd.
- Toyota Motor Corp.
- Volkswagen Ag
- Volvo
Chapter 11 Appendix: Acronyms
List of Tables
Summary Table A: Global Market for V2X, by Region, Through 2026
Table 1: Autonomous Cars: Levels and Technologies
Table 2: Global Market for V2X, by Solution, Through 2026
Table 3: Global Market for V2X System Hardware, by Region, Through 2026
Table 4: Global Market for V2X Software, by Region, Through 2026
Table 5: Global Market for V2X, by Connectivity, Through 2026
Table 6: Global Market for V2X-Based Dedicated Short-Range Communication (DSRC), by Unit, Through 2026
Table 7: Global V2X Market for V2X-Based DSRC, by Region, Through 2026
Table 8: Global Market for Cellular V2X, by Unit, Through 2026
Table 9: Global Market for Cellular V2X, by Region, Through 2026
Table 10: Global Market for V2X Communication, by Type of Communication, Through 2026
Table 11: Global V2X Market for V2V Communication, by Region, Through 2026
Table 12: Global V2X Market for V2I Communication, by Region, Through 2026
Table 13: Global V2X Market for V2G Communication, by Region, Through 2026
Table 14: Global V2X Market for V2P Communication, by Region, Through 2026
Table 15: Global V2X Market for V2C Communication, by Region, Through 2026
Table 16: Global V2X Market for V2D Communication, by Region, Through 2026
Table 17: Global Market for V2X Onboard Units, by Propulsion, Through 2026
Table 18: Global Market for V2X, by Unit, Through 2026
Table 19: Global Market for V2X Onboard Units, by Connectivity, Through 2026
Table 20: Global Market for V2X Roadside Units, by Connectivity, Through 2026
Table 21: Global Market for V2X, by Region, Through 2026
Table 22: North American Market for V2X, by Country, Through 2026
Table 23: North American Market for V2X, by Solution, Through 2026
Table 24: North American Market for V2X Communication, by Connectivity Technology, Through 2026
Table 25: North American Market for V2X, by Type of Communication, Through 2026
Table 26: European Market for V2X, by Country, Through 2026
Table 27: European Market for V2X, by Solution, Through 2026
Table 28: European Market for V2X Communication, by Connectivity Technology, Through 2026
Table 29: European Market for V2X, by Type of Communication, Through 2026
Table 30: Asia-Pacific Market for V2X, by Country, Through 2026
Table 31: Asia-Pacific Market for V2X, by Solution, Through 2026
Table 32: Asia-Pacific Market for V2X Communication, by Connectivity Technology, Through 2026
Table 33: Asia-Pacific Market for V2X, by Type of Communication, Through 2026
Table 34: RoW Market for V2X, by Solution, Through 2026
Table 35: RoW Market for V2X Communication, by Connectivity Technology, Through 2026
Table 36: RoW Market for V2X, by Type of Communication, Through 2026
Table 37: Acronyms Used in This Report
List of Figures
Summary Figure A: Global Market Shares of V2X, by Region, 2020
Summary Figure B: Global Market Shares of V2X, by Region, 2026
Figure 1: 5G Applications
Figure 2: Threat Vectors
Figure 3: Global Market Shares of V2X, by Solution, 2020
Figure 4: Global Market Shares of V2X, by Solution, 2026
Figure 5: Global Market Shares of V2X System Hardware, by Region, 2020
Figure 6: Global Market Shares of V2X System Hardware, by Region, 2026
Figure 7: Global Market Shares of V2X Software, by Region, 2020
Figure 8: Global Market Shares of V2X Software, by Region, 2026
Figure 9: Global Market Shares of V2X, by Connectivity, 2020
Figure 10: Global Market Shares of V2X, by Connectivity, 2026
Figure 11: Global Market Shares of V2X-Based Dedicated Short-Range Communication (DSRC), by Unit, 2020
Figure 12: Global Market Shares of V2X-Based DSRC, by Unit, 2026
Figure 13: Global Market Shares of V2X-Based DSRC, by Region, 2020
Figure 14: Global Market Shares of V2X-Based DSRC, by Region, 2026
Figure 15: Global Market Shares of Cellular V2X, by Unit, 2020
Figure 16: Global Market Shares of Cellular V2X, by Unit, 2026
Figure 17: Global Market Shares of Cellular V2X, by Region, 2020
Figure 18: Global Market Shares of Cellular V2X, by Region, 2026
Figure 19: Global Market Shares of V2X Communication, by Type of Communication, 2020
Figure 20: Global Market Shares of V2X Communication, by Type of Communication, 2026
Figure 21: Global V2X Market Shares of V2V Communication, by Region, 2020
Figure 22: Global V2X Market Shares of V2V Communication, by Region, 2026
Figure 23: Vehicle-to-infrastructure (V2I) Architecture
Figure 24: Global V2X Market Shares of V2I Communication, by Region, 2020
Figure 25: Global V2X Market Shares of V2I Communication, by Region, 2026
Figure 26: Global V2X Market Shares of V2G Communication, by Region, 2020
Figure 27: Global V2X Market Shares of V2G Communication, by Region, 2026
Figure 28: Global V2X Market Shares of V2P Communication, by Region, 2020
Figure 29: Global V2X Market Shares of V2P Communication, by Region, 2026
Figure 30: Global V2X Market Shares of V2C Communication, by Region, 2020
Figure 31: Global V2X Market Shares of V2C Communication, by Region, 2026
Figure 32: Global V2X Market Shares of V2D Communication, by Region, 2020
Figure 33: Global V2X Market Shares of V2D Communication, by Region, 2026
Figure 34: Global Market Shares of V2X Onboard Units, by Propulsion, 2020
Figure 35: Global Market Shares of V2X Onboard Units, by Propulsion 2026
Figure 36: Global Market Shares of V2X, by Unit, 2020
Figure 37: Global Market Shares of V2X, by Unit, 2026
Figure 38: Global Market Shares of V2X Onboard Units, by Connectivity, 2020
Figure 39: Global Market Shares of V2X Onboard Units, by Connectivity, 2026
Figure 40: Global Market Shares of V2X Roadside Units, by Connectivity, 2020
Figure 41: Global Market Shares of V2X Roadside Units, by Connectivity, 2026
Figure 42: Global V2X Market, by Region
Figure 43: Global Market Shares of V2X, by Region, 2020
Figure 44: Global Market Shares of V2X, by Region, 2026
Figure 45: North American Market Shares of V2X, by Country, 2020
Figure 46: North American Market Shares of V2X, by Country, 2026
Figure 47: North American Market Shares of V2X, by Solution, 2020
Figure 48: North American Market Shares of V2X, by Solution, 2026
Figure 49: North American Market Shares of V2X Communication, by Connectivity Technology, 2020
Figure 50: North American Market Shares of V2X Communication, by Connectivity Technology, 2026
Figure 51: North American Market Shares of V2X, by Type of Communication, 2020
Figure 52: North American Market Shares of V2X, by Type of Communication, 2026
Figure 53: European Market Shares of V2X, by Country, 2020
Figure 54: European Market Shares of V2X, by Country, 2026
Figure 55: European Market Shares of V2X, by Solution, 2020
Figure 56: European Market Shares of V2X, by Solution, 2026
Figure 57: European Market Shares of V2X Communication, by Connectivity Technology, 2020
Figure 58: European Market Shares of V2X Communication, by Connectivity Technology, 2026
Figure 59: European Market Shares of V2X, by Type of Communication, 2020
Figure 60: European Market Shares of V2X, by Type of Communication, 2026
Figure 61: Asia-Pacific Market Shares of V2X, by Country, 2020
Figure 62: Asia-Pacific Market Shares of V2X, by Country, 2026
Figure 63: Asia-Pacific Market Shares of V2X, by Solution, 2020
Figure 64: Asia-Pacific Market Shares of V2X, by Solution, 2026
Figure 65: Asia-Pacific Market Shares of V2X Communication, by Connectivity Technology, 2020
Figure 66: Asia-Pacific Market Shares of V2X Communication, by Connectivity Technology, 2026
Figure 67: Asia-Pacific Market Shares of V2X, by Type of Communication, 2020
Figure 68: Asia-Pacific Market Shares of V2X, by Type of Communication, 2026
Figure 69: RoW Market Shares of V2X, by Solution, 2020
Figure 70: RoW Market Shares of V2X, by Solution, 2026
Figure 71: RoW Market Shares of V2X Communication, by Connectivity Technology, 2020
Figure 72: RoW Market Shares of V2X Communication, by Connectivity Technology, 2026
Figure 73: RoW Market Shares of V2X, by Type of Communication, 2020
Figure 74: RoW Market Shares of V2X, by Type of Communication, 2026
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Executive Summary
The intelligent transport system (ITS) has become one of the critical systems used to manage traffic and control pollution and environmental impacts. Owing to its expected impact on the economic growth of the transport sector, currently, V2X technologies is largely creating opportunities for ITS, backed up by the key players of various automotive manufacturers, telecommunication and transport industries. Dedicated short-range communications (DSRC) and cellular vehicle-to-everything (C-V2X), respectively based on IEEE 802.11p and 3rd Generation Partnership Project (3GPP) long-term evolution/5G new radio (LTE/5G NR), are being used. While DSRC already has deployments, C-V2X is expected to see larger scale trials and deployments during the forecast period.
Leading players in the market for V2X include Robert Bosch GMBH, Continental AG, Qualcomm Technologies Inc., Autotalks Ltd. and Delphi Technologies. All these companies are investing in V2X technology as a response to increasing demand for fully autonomous driving and safe vehicles. Increasing collaborations and mergers and acquisitions, along with product development and launches, are expected to optimize the environmental and economic advantages by enhancing and utilizing new and innovative ideas and technologies.
The ongoing COVID-19 pandemic had a negative impact on the V2X market specifically. Declining car sales and a shutdown of manufacturing plants has hampered market growth. The lockdown and social distancing regulations have led to a fall in the sales of vehicles, impacting the growth of V2X market. The strategies adopted by key manufacturers to overcome the huge loss can help recover damages resulting from the pandemic to strengthen the supply chain and encourage the global V2X market. Most companies have offered the option of work from home, so the increase in remote working options has declined the need for passenger cars as well as the market demand for modern connected vehicle technologies. Furthermore, the semiconductor industry is experiencing a shortage in finished goods, components and materials that is affecting suppliers.
There is a rapid growth of urbanization and industrialization due to the development of economies and a raise in disposable income in various developed countries across the globe.
V2X communication technology is being customized to offer ITS solutions improve road safety, traffic efficiency and driving experience. Furthermore, the increase in disposable income, rise in employment rates and surge in overall GDP is encouraging advancements including smart cities with smart infrastructures facilities. These factors are playing a crucial role in the growth of the V2X market.
The global market for V2X is segmented based on communication, connectivity, offering, unit, propulsion and geography. In terms of communication, the market is categorized into V2V, V2I, V2G, V2C, V2D and V2P. The market by connectivity is segmented into DSRC and C-V2X. The market for offering is segmented into hardware and software. The market by unit is segmented into onboard units and roadside units. Regions covered in the report include North America, Europe, Asia-Pacific and the Rest of the World (RoW), which includes South America and the Middle East and Africa.
Companies Mentioned
- Arada Systems Inc.
- Audi Ag
- Autotalks Ltd.
- Bayerische Motoren Werke Ag (Bmw)
- Cohda Wireless Pty
- Commsignia
- Connected Signals
- Continental Ag
- Daimler
- Denso Corp.
- Derq Inc.
- Ford Motor Co.
- Geely
- General Motors
- Groupe Psa
- Haas Alert
- Harman International
- Huawei Technologies Co., Ltd.
- Infineon Technologies Ag
- Jaguar Land Rover
- Kapsch Group
- NXP Semiconductors
- Qualcomm Inc.
- Robert Bosch Gmbh
- Saic Motor Co. Ltd.
- Savari Technologies Pvt. Ltd.
- STMicroelectronics N.V.
- Toyota Motor Corp.
- Valerann
- Visteon
- Volkswagen Ag
- Volvo
Table Information
| Report Attribute | Details |
|---|---|
| Published | July 2021 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value ( USD | $ 1 Billion |
| Forecasted Market Value ( USD | $ 6.5 Billion |
| Compound Annual Growth Rate | 45.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 32 |
