The Global Automotive Vehicle-to-Everything Market size is expected to reach $26.67 billion by 2031, rising at a market growth of 42.6% CAGR during the forecast period.
Smart traffic management systems and intelligent transportation initiatives also encourage automakers to invest in V2V technology to optimize vehicle coordination, reduce congestion, and enhance driving efficiency. Therefore, the vehicle-to-vehicle (V2V) segment acquired 31% revenue share in the market in 2023. Governments worldwide are mandating V2V communication to reduce road accidents by enabling real-time data exchange between vehicles. The increasing adoption of autonomous vehicles, wireless communication technologies like 5G improvements, and AI-driven predictive analytics further accelerate the demand for V2V solutions.
The integration of V2X with ITS is not only beneficial for private vehicles but also plays a crucial role in public transportation and emergency response systems. Connected public transit systems can operate more efficiently by adjusting schedules based on real-time traffic data, ensuring minimal delays and better service reliability. Additionally, V2X can analyze real-time energy demand at charging stations, directing EVs to less crowded facilities, thus preventing bottlenecks at high traffic charging points. By incorporating AI-powered predictive analytics, V2X systems can suggest the best routes that balance energy consumption and travel efficiency, helping EV drivers maximize range without unnecessary detours. Therefore, the increasing demand for EVs and Avs supports the market's growth. Thus, such developments will drive the expansion of the market.
However, the absence of a global regulatory framework also delays interoperability between different automotive brands and smart city infrastructures. Without standardized protocols, automakers developing V2X-enabled vehicles risk creating incompatible systems, which could lead to market fragmentation. This situation is similar to past challenges in other technologies, such as the early days of mobile communication, when different network standards prevented global connectivity. Thus, these factors are hindering the growth of Vehicle-to-Everything (V2X) technology.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Smart traffic management systems and intelligent transportation initiatives also encourage automakers to invest in V2V technology to optimize vehicle coordination, reduce congestion, and enhance driving efficiency. Therefore, the vehicle-to-vehicle (V2V) segment acquired 31% revenue share in the market in 2023. Governments worldwide are mandating V2V communication to reduce road accidents by enabling real-time data exchange between vehicles. The increasing adoption of autonomous vehicles, wireless communication technologies like 5G improvements, and AI-driven predictive analytics further accelerate the demand for V2V solutions.
The integration of V2X with ITS is not only beneficial for private vehicles but also plays a crucial role in public transportation and emergency response systems. Connected public transit systems can operate more efficiently by adjusting schedules based on real-time traffic data, ensuring minimal delays and better service reliability. Additionally, V2X can analyze real-time energy demand at charging stations, directing EVs to less crowded facilities, thus preventing bottlenecks at high traffic charging points. By incorporating AI-powered predictive analytics, V2X systems can suggest the best routes that balance energy consumption and travel efficiency, helping EV drivers maximize range without unnecessary detours. Therefore, the increasing demand for EVs and Avs supports the market's growth. Thus, such developments will drive the expansion of the market.
However, the absence of a global regulatory framework also delays interoperability between different automotive brands and smart city infrastructures. Without standardized protocols, automakers developing V2X-enabled vehicles risk creating incompatible systems, which could lead to market fragmentation. This situation is similar to past challenges in other technologies, such as the early days of mobile communication, when different network standards prevented global connectivity. Thus, these factors are hindering the growth of Vehicle-to-Everything (V2X) technology.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Driving and Restraining Factors
Drivers
- Increasing Adoption of Intelligent Transportation Systems (ITS)
- Rising Demand for Electric and Autonomous Vehicles
Restraints
- Substantially High Implementation Costs
- Lack of Standardization & Regulatory Framework
Opportunities
- Expansion of 5G and Edge Computing
- Adoption of Blockchain for Secure V2X Communication
Challenges
- Cybersecurity & Data Privacy Concerns
- Limited Network Infrastructure & Connectivity Issues
Device Outlook
Based on device, the market is bifurcated into roadside unit and onboard unit. The roadside unit segment procured 37% revenue share in the market in 2023. Roadside units (RSUs) are stationary communication devices installed along roadways, intersections, and urban infrastructure to facilitate Vehicle-to-Infrastructure (V2I) and Vehicle-to-Network (V2N) communications. These units are critical in traffic management, road safety monitoring, and real-time data transmission between connected vehicles and smart city networks. Additionally, the expansion of 5G networks and edge computing solutions has enhanced the functionality of RSUs, making them more efficient in data processing, vehicle coordination, and predictive traffic analysis.Communication Outlook
On the basis of communication, the market is classified into vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), vehicle-to-home (V2H), vehicle-to-grid (V2G), and vehicle-to-network (V2N). The vehicle-to-home (V2H) segment witnessed 9% revenue share in the market in 2023. As EVs become more prevalent, the need for seamless connectivity between vehicles and home energy grids is increasing, allowing cars to serve as backup power sources through bi-directional charging (V2H integration). Additionally, advancements in IoT-enabled smart homes, AI-based automation, and remote vehicle control systems enhance V2H connectivity, enabling users to precondition their vehicles, schedule charging times, and integrate EVs into home energy management for improved efficiency.Connectivity Outlook
By connectivity, the market is divided into DSRC and cellular. The cellular segment procured 54% revenue share in the market in 2023. C-V2X enables direct and network-based communication, making it highly scalable and future-proof for smart mobility applications. Governments and automakers are investing in C-V2X pilot programs, especially in China and South Korea, where 5G deployment is accelerating. The technology's seamless integration with AI-driven traffic management systems, over-the-air (OTA) software updates, and autonomous driving applications makes it a more versatile and long-term connectivity solution.
Vehicle Outlook
Based on vehicle, the market is segmented into passenger cars and commercial vehicles. The commercial vehicles segment recorded 32% revenue share in the market in 2023. The integration of V2X technology in trucks, buses, and delivery vehicles improves fuel efficiency, route optimization, and accident prevention, making it a crucial component for fleet operators and logistics companies. Additionally, smart transportation initiatives and government support for connected commercial fleets drive the adoption of V2I and V2V communication systems in heavy-duty vehicles. The emergence of autonomous trucking, AI-driven fleet monitoring, and real-time traffic analytics is further enhancing the value proposition of V2X in commercial transportation.Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment witnessed 34% revenue share in the market in 2023. The regional market is primarily driven by early adoption of connected vehicle technology, government regulations for road safety, and strong investments in intelligent transportation systems (ITS). The presence of leading automotive manufacturers, technology firms, and telecom providers, coupled with a high demand for real-time traffic solutions, connected vehicle services, and advanced driver assistance systems (ADAS), continues to drive market growth.Recent Strategies Deployed in the Market
- Apr-2024: DENSO CORPORATION released MobiQ, an aftermarket smart mobility and vehicle-to-everything (V2X) solution. MobiQ enhances safety, efficiency, and traffic flow by upgrading existing vehicles and infrastructure with V2X technology.
- Nov-2023: Continental unveiled a scalable telematics platform for agricultural machinery, offering flexibility with 4G/5G standards and adaptable computing power. Emphasizing cybersecurity to counter rising cyber threats, the platform leverages Continental’s automotive expertise and aims to enhance connectivity and productivity in agriculture while meeting future cybersecurity requirements.
- Jan-2023: Continental AG came into partnership with Ambarella, an American semiconductor company, to develop scalable AI-driven hardware and software solutions for assisted and automated driving. By Integrating Ambarella's CV3-AD SoCs with Continental's ADAS expertise, the two companies aim to enhance vehicle safety and performance.
- Oct-2022: DENSO CORPORATION teamed up with NTT Com, a telecommunications company, to develop a Vehicle Security Operation Center (VSOC) to combat sophisticated cyber-attacks on vehicles. The collaboration combines NTT's IT security expertise with DENSO's vehicle cybersecurity knowledge to provide global, robust monitoring, detection, and response services, ensuring a secure mobility environment.
- Oct-2022: DENSO CORPORATION teamed up with NTT Com, a telecommunications company, to develop a Vehicle Security Operation Center (VSOC) to combat sophisticated cyber-attacks on vehicles. The collaboration combines NTT's IT security expertise with DENSO's vehicle cybersecurity knowledge to provide global, robust monitoring, detection, and response services, ensuring a secure mobility environment.
List of Key Companies Profiled
- Infineon Technologies AG
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- NXP Semiconductors N.V.
- Continental AG
- DENSO CORPORATION
- Harman International Industries, Inc. (Samsung Electronics Co., Ltd.)
- Lear Corporation
- Aptiv PLC
- Robert Bosch GmbH
- TomTom N.V.
Market Report Segmentation
By Device
- Onboard Unit
- Roadside Unit
By Connectivity
- Cellular
- DSRC
By Vehicle
- Passenger Cars
- Commercial Vehicles
By Communication
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Pedestrian (V2P)
- Vehicle-to-Network (V2N)
- Vehicle-to-Home (V2H)
- Vehicle-to-Grid (V2G)
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Automotive Vehicle-to-Everything Market by Device
Chapter 6. Global Automotive Vehicle-to-Everything Market by Connectivity
Chapter 7. Global Automotive Vehicle-to-Everything Market by Vehicle
Chapter 8. Global Automotive Vehicle-to-Everything Market by Communication
Chapter 9. Global Automotive Vehicle-to-Everything Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- Infineon Technologies AG
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- NXP Semiconductors N.V.
- Continental AG
- DENSO CORPORATION
- Harman International Industries, Inc. (Samsung Electronics Co., Ltd.)
- Lear Corporation
- Aptiv PLC
- Robert Bosch GmbH
- TomTom N.V.
Methodology
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