Automotive V2X Market is Anticipated to Reach a Value of $98.7 Billion by 2025 and is Expected to Grow at a CAGR of 17.10 % During the Forecast Period 2018-2025, Says Esticast Research and Consulting
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As per the report “Automotive V2x Market By Communication Type (Vehicle-To-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Device (V2D), Vehicle-to-Grid (V2G), Vehicle-to-Cloud (V2C)), By Offering (Hardware, Software), By Connectivity (Dedicated Short Range Communication (DSRC), Cellular Connectivity), By Technology (Automated Driver Assistance, Intelligent Traffic Systems, Emergency Vehicle Notification, Passenger Information System, Fleet & Asset Management, Parking Management System, Line 0f Sight, Non-Line of Sight, Backing), By Propulsion Type (ICE, EV), Industry Trends, Estimation & Forecast, 2018 – 2025″,
Automotive V2X Market is Anticipated to Reach a Value of $98.7 Billion by 2025 and is Expected to Grow at a CAGR of 17.10 % During the Forecast Period 2018-2025. In 2017, the V2C segment generated the highest revenue share in the automotive V2X market. Among major regions, North America was the largest market for V2X in 2017.
“Market players operating in the V2X market are focusing on various strategic collaborations, in order to achieve a profitable market dynamics. In addition, they are also investing heavily in their R&D activities to explore the potential applications of autonomous vehicle connectivity technologies and pave the way for lucrative opportunities during the upcoming years.”
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The V2C communication segment is estimated to hold the largest market share in the global Automotive V2X market
The surging trend of autonomous vehicles is the major propellant which is pushing the market growth of V2C communication technology. In the upcoming decade, it is expect to witness a considerable rise in the connected capabilities, supporting safety features of the semi-autonomous and fully-autonomous systems in the vehicles. A growing demand for ADAS in the passenger cars has also contributed in the growth of V2C technology segment. Apart from supporting automation of the vehicle, V2C technology provides cloud based security, entertainment, connected car services which makes the driving efficient and equally enjoyable for the driver. Firmware updates, security authentications, parking spot finding, real time traffic & routing and reservations & reviews are some of the major features which are provided by VTC to the vehicle owners. As per a data revealed by Forbes, more than 10 million cars will be running on the roads by 2020. Sensor data and video/imaging content for autonomous driving vehicles is creating huge amounts of upstream traffic, as well as downstream traffic. This requires a distributed vehicle-to-cloud model that enables safety services, which will eventually boost the market growth.
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North America to emerge out as the largest market for Automotive V2X, holding more than 1/4th of the global market revenue
North America is estimated to be the largest automotive V2X market during the forecast period. Favorable regulatory policies of government, advanced infrastructure and rising demand for highly ergonomic and autonomous vehicles are the major factors which have created a high demand for V2X communication solutions in North America. Recently Nevada and California states of the U.S. have given permission for the trials for fully autonomous vehicles. Apart from that, increasing disposable income of people is also a major factor which is stimulating the growth of the regional market.
Strategic collaborations between automobile manufacturing firms and V2X technology providing companies are creating future growth pathways for the market to flourish in the region. For instance, Qualcomm Technologies and Ford Motor Company have recently gone through a strategic collaboration for developing the V2X technology within the passenger cars. Ford and Qualcomm Technologies are currently working together on the first announced U.S. C-V2X trials in San Diego, along with additional trials in Detroit, with both trials utilizing the 9150 C-V2X solution.
Key players of the market are Continental AG, Daimler and Audi, Tomtom, Cohda Wireless, Infineon Technologies, Qualcomm, NXP Semiconductors, Robert Bosch, Harman International, Nvidia Corporation, Autotalks, Intel and Delphi Automotive