This report describes and evaluates the global automotive V2X market. It covers three five-year periods including, 2016-2021, termed the historic period, 2021-2026 forecast period, and 2026-2031 forecast period.
The global automotive V2X market reached a value of nearly $547.0 million in 2021, having increased at a compound annual growth rate (CAGR) of 39.7%. The market is expected to grow at a CAGR of 44.6% from 2021 to reach $3,396.7 million in 2026. The global automotive V2X market is expected to reach $23,577.3 million in 2031, at a CAGR of 47.3%.
Growth in the historic period resulted from robust demand for passenger cars, increased investment in smart cities, enhanced user comfort, safety and convenience, and increased occurrence of vehicle theft. Factors that negatively affected growth in the historic period were negative impact of COVID-19 on the overall automotive industry and high cost of implementation.
Going forward, growing global automotive industry, growing demand for autonomous and electric vehicles, increasing concerns regarding road traffic and vehicle safety and advancements in next-gen communication technologies will drive the market growth. Factors that could hinder the growth of the market in the future include latency issues and vulnerability to cyberattacks.
The automotive V2X market is segmented by technology into emergency vehicle notification, automated driver assistance, passenger information system, line of sight and others. The automated driver assistance market was the largest segment of the automotive V2X market segmented by technology, accounting for 31.2% of the total in 2021. Going forward, the automated driver assistance market is expected to be the fastest-growing segment in the automotive V2X market segmented by technology, at a CAGR of 46.8% during 2021-2026.
The automotive V2X market is also segmented by vehicle type into passenger cars and commercial vehicles. The passenger cars market was the largest segment of the automotive V2X market segmented by vehicle type, accounting for 72.6% of the total in 2021. Going forward, the passenger cars market is expected to be the fastest-growing segment in the automotive V2X market segmented by vehicle type, at a CAGR of 45.1% during 2021-2026.
The automotive V2X market is also segmented by connectivity into DSRC and cellular. The DSRC market was the largest segment of the automotive V2X market segmented by connectivity, accounting for 89.8% of the total in 2021. Going forward, the cellular market is expected to be the fastest-growing segment in the automotive V2X market segmented by connectivity, at a CAGR of 94.8% during 2021-2026.
The automotive V2X market is also segmented by communication into 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 vehicle to vehicle (V2V) market was the largest segment of the automotive V2X market segmented by communication, accounting for 45.3% of the total in 2021. Going forward, the vehicle to cloud (V2C) market is expected to be the fastest-growing segment in the automotive V2X market segmented by communication, at a CAGR of 63.4%.
Asia Pacific was the largest region in the global automotive V2X market, accounting for 48.2% of the market in 2021. North America was the second largest region accounting for 32.1% of the global automotive V2X market. Africa was the smallest region in the global automotive V2X market. Going forward, South America and Eastern Europe will be the fastest growing regions in this market, where growth will be at CAGRs of 62.08% and 62.06% respectively. These will be followed by the Middle East and Africa where the markets will grow at CAGRs of 62.06% and 62.06% respectively.
The automotive V2X market is fairly fragmented with a small number of large players dominating the market. The top ten competitors in the market made up to 81.37% of the total market in 2021. Major players in the market include Robert Bosch GmbH, NXP Semiconductors N.V., HARMAN International (Samsung Electronics Co. Ltd.), Continental AG and Lear Corporation.
The top opportunities in the automotive V2X market segmented by technology will arise in the automated driver assistance segment, which will gain $976.7 million of global annual sales by 2026. The top opportunities in the automotive V2X market segmented by vehicle type will arise in the passenger cars segment, which will gain $2,119.4 million of global annual sales by 2026. The top opportunities in the automotive V2X market segmented by connectivity will arise in the cellular segment, which will gain $1,480.8 million of global annual sales by 2026. The top opportunities in the automotive V2X market segmented by communication will arise in the vehicle to vehicle (V2V) segment, which will gain $856.7 million of global annual sales by 2026. The automotive V2X market size will gain the most in USA at $604.1 million.
Market-trend-based strategies for the automotive V2X market include companies should focus on adoption of cellular V2X in automotive V2X to enhance the safety of the vehicles, on the adoption of 5G connectivity in automotive V2X to improve connectivity, on the integration of AI in automotive V2X to enhance the features in automotive V2X operating systems, and on the installation of cybersecurity systems in automotive V2X to reduce the risk of cyber-attacks.
Player adopted strategies include advancement in technologies through strategic collaborations, expansion of business through strategic partnership, expansion of business through strategic acquisitions, and developing of new technology platforms.
To take advantage of the opportunities, the publisher reccomends the automotive V2X companies to adopt 5G technology in automotive V2X, integrate artificial intelligence (AI) technology, install of cybersecurity systems, continue to focus on developed markets, expand in emerging markets, focus on expanding through collaborations, offer value-based pricing, leverage technology to maximize reach, focus on business-to-business (B2B) promotions, focus on post purchase services and target automotive industry companies and professionals.
The global automotive V2X market reached a value of nearly $547.0 million in 2021, having increased at a compound annual growth rate (CAGR) of 39.7%. The market is expected to grow at a CAGR of 44.6% from 2021 to reach $3,396.7 million in 2026. The global automotive V2X market is expected to reach $23,577.3 million in 2031, at a CAGR of 47.3%.
Growth in the historic period resulted from robust demand for passenger cars, increased investment in smart cities, enhanced user comfort, safety and convenience, and increased occurrence of vehicle theft. Factors that negatively affected growth in the historic period were negative impact of COVID-19 on the overall automotive industry and high cost of implementation.
Going forward, growing global automotive industry, growing demand for autonomous and electric vehicles, increasing concerns regarding road traffic and vehicle safety and advancements in next-gen communication technologies will drive the market growth. Factors that could hinder the growth of the market in the future include latency issues and vulnerability to cyberattacks.
The automotive V2X market is segmented by technology into emergency vehicle notification, automated driver assistance, passenger information system, line of sight and others. The automated driver assistance market was the largest segment of the automotive V2X market segmented by technology, accounting for 31.2% of the total in 2021. Going forward, the automated driver assistance market is expected to be the fastest-growing segment in the automotive V2X market segmented by technology, at a CAGR of 46.8% during 2021-2026.
The automotive V2X market is also segmented by vehicle type into passenger cars and commercial vehicles. The passenger cars market was the largest segment of the automotive V2X market segmented by vehicle type, accounting for 72.6% of the total in 2021. Going forward, the passenger cars market is expected to be the fastest-growing segment in the automotive V2X market segmented by vehicle type, at a CAGR of 45.1% during 2021-2026.
The automotive V2X market is also segmented by connectivity into DSRC and cellular. The DSRC market was the largest segment of the automotive V2X market segmented by connectivity, accounting for 89.8% of the total in 2021. Going forward, the cellular market is expected to be the fastest-growing segment in the automotive V2X market segmented by connectivity, at a CAGR of 94.8% during 2021-2026.
The automotive V2X market is also segmented by communication into 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 vehicle to vehicle (V2V) market was the largest segment of the automotive V2X market segmented by communication, accounting for 45.3% of the total in 2021. Going forward, the vehicle to cloud (V2C) market is expected to be the fastest-growing segment in the automotive V2X market segmented by communication, at a CAGR of 63.4%.
Asia Pacific was the largest region in the global automotive V2X market, accounting for 48.2% of the market in 2021. North America was the second largest region accounting for 32.1% of the global automotive V2X market. Africa was the smallest region in the global automotive V2X market. Going forward, South America and Eastern Europe will be the fastest growing regions in this market, where growth will be at CAGRs of 62.08% and 62.06% respectively. These will be followed by the Middle East and Africa where the markets will grow at CAGRs of 62.06% and 62.06% respectively.
The automotive V2X market is fairly fragmented with a small number of large players dominating the market. The top ten competitors in the market made up to 81.37% of the total market in 2021. Major players in the market include Robert Bosch GmbH, NXP Semiconductors N.V., HARMAN International (Samsung Electronics Co. Ltd.), Continental AG and Lear Corporation.
The top opportunities in the automotive V2X market segmented by technology will arise in the automated driver assistance segment, which will gain $976.7 million of global annual sales by 2026. The top opportunities in the automotive V2X market segmented by vehicle type will arise in the passenger cars segment, which will gain $2,119.4 million of global annual sales by 2026. The top opportunities in the automotive V2X market segmented by connectivity will arise in the cellular segment, which will gain $1,480.8 million of global annual sales by 2026. The top opportunities in the automotive V2X market segmented by communication will arise in the vehicle to vehicle (V2V) segment, which will gain $856.7 million of global annual sales by 2026. The automotive V2X market size will gain the most in USA at $604.1 million.
Market-trend-based strategies for the automotive V2X market include companies should focus on adoption of cellular V2X in automotive V2X to enhance the safety of the vehicles, on the adoption of 5G connectivity in automotive V2X to improve connectivity, on the integration of AI in automotive V2X to enhance the features in automotive V2X operating systems, and on the installation of cybersecurity systems in automotive V2X to reduce the risk of cyber-attacks.
Player adopted strategies include advancement in technologies through strategic collaborations, expansion of business through strategic partnership, expansion of business through strategic acquisitions, and developing of new technology platforms.
To take advantage of the opportunities, the publisher reccomends the automotive V2X companies to adopt 5G technology in automotive V2X, integrate artificial intelligence (AI) technology, install of cybersecurity systems, continue to focus on developed markets, expand in emerging markets, focus on expanding through collaborations, offer value-based pricing, leverage technology to maximize reach, focus on business-to-business (B2B) promotions, focus on post purchase services and target automotive industry companies and professionals.
Table of Contents
1. Automotive V2X Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure
6. Introduction
7. Automotive V2X Market Characteristics
8. Automotive V2X Market Trends And Strategies
9. Impact Of COVID-19 On The Automotive V2X Market
10. Global Automotive V2X Market Size And Growth
11. Global Automotive V2X Market Segmentation
12. Automotive V2X Market, Regional And Country Analysis
13. Asia-Pacific Automotive V2X Market
14. Western Europe Automotive V2X Market
15. Eastern Europe Automotive V2X Market
16. North America Automotive V2X Market
17. South America Automotive V2X Market
18. Middle East Automotive V2X Market
19. Africa Automotive V2X Market
20. Automotive V2X Global Market Competitive Landscape
21. Key Mergers and Acquisitions In The Automotive V2X Market
22. Automotive V2X Market Opportunities And Strategies
23. Automotive V2X Market, Conclusions And Recommendations
24. Appendix
Executive Summary
Automotive V2X Global Market Opportunities And Strategies To 2031 provides the strategists; marketers and senior management with the critical information they need to assess the global automotive V2X market as it emerges from the COVID-19 shut down.
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Description:
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 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. It places the market within the context of the wider automotive V2X market; and compares it with other markets.
The report covers the following chapters
- Executive Summary - The executive summary section of the report gives a brief overview and summary of the report.
- Report Structure - This section gives the structure of the report and the information covered in the various sections.
- Introduction - The introduction section of the report gives brief introduction about segmentation by geography, segmentation by technology, segmentation by vehicle type, segmentation by connectivity and segmentation by communication.
- Market Characteristics - The market characteristics section of the report defines and explains the automotive V2X market. This chapter also defines and describes goods and related services covered in the report.
- Trends And Strategies - This chapter describes the major trends shaping the global automotive V2X market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
- COVID-19 Impact - This chapter describes the impact of the COVID-19 pandemic on the automotive V2X market.
- Global Market Size And Growth - This section contains the global historic (2016-2021) and forecast (2026F, 2031F) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.
- Regional Analysis - This section contains the historic (2016-2021), forecast (2021-2026F, 2031F) market value and growth and market share comparison by region.
- Segmentation - This section contains the market values (2016-2021, 2026F, 2031F) and analysis for different segments in the market.
- Regional Market Size and Growth - This section contains the region’s market size (2021), historic and forecast (2016-2026, 2031F) market values, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa).
- Competitive Landscape - This section covers details on the competitive landscape of the global automotive V2X market, estimated market shares and company profiles of the leading players.
- Key Mergers And Acquisitions - This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies - This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions And Recommendations - This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for automotive V2X providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
- By Technology: Emergency Vehicle Notification; Automated Driver Assistance; Passenger Information System; Line Of Sight; Others
- By Vehicle Type: Passenger Cars; Commercial Vehicles
- By Connectivity: DSRC; Cellular
- By Communication: Vehicle To Vehicle (V2V); Vehicle To Infrastructure (V2I); Vehicle To Pedestrian (V2P); Vehicle To Grid (V2G); Vehicle To Cloud (V2C); Vehicle To Device (V2D)
Companies Mentioned:
Robert Bosch GmbH; NXP Semiconductors N.V; HARMAN International (Samsung Electronics Co. Ltd.); Continental AG; Lear Corporation
Countries:
China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions:
Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series:
Five years historic and ten years forecast.
Data:
Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; automotive V2X indicators comparison.
Data segmentations:
country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:
Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Robert Bosch GmbH
- NXP Semiconductors N.V
- HARMAN International (Samsung Electronics Co. Ltd.)
- Continental AG
- Lear Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 236 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 537 Million |
| Forecasted Market Value ( USD | $ 23577.3 Million |
| Compound Annual Growth Rate | 46.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
