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Automotive V2X Market Size to Surpass US$ 20.2 Billion by 2027 - IMARC Group

Automotive V2X Market

The global automotive V2X market size reached US$ 2.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.2 Billion by 2027

SHERIDAN, WYOMING, UNITED STATES, October 4, 2022 / -- According to the latest report by IMARC Group "Automotive V2X Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global automotive V2X market size reached US$ 2.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.2 Billion by 2027, exhibiting a growth rate (CAGR) of 45.89% during 2022-2027.

Automotive vehicle to everything (V2X) refers to a vehicular communication system that facilitates real-time sharing of data between users. It is utilized to convey important information regarding road conditions, collisions, weather and traffic. It includes vehicle-to-infrastructure (V2I), vehicle-to-home (V2H), vehicle-to-network (V2N), vehicle-to-vehicle (V2V) and vehicle-to-pedestrian (V2P). It assists in improving road management, safety, traffic efficiency and avoiding road accidents, injuries and collisions.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

The global automotive V2X market is primarily being driven by the widespread adoption of autonomous and connected vehicles for reduced travel time, fuel consumption, and enhanced safety. Moreover, the rising expenditure capacities of the consumers and the increasing demand for advanced features, such as collision warning and lane-keeping assists systems, are positively impacting the market growth. Other factors, including various technological advancements, such as the integration of 5G technology and artificial intelligence (AI) in automobiles for high-speed communication and enhanced network connectivity, are anticipated to drive the market growth.

Breakup 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)

Breakup by Connectivity:

Dedicated Short-Range Communication (DSRC)
Cellular-V2X (C-V2X) Communication

Breakup by Vehicle Type:

Passenger Cars
Commercial Vehicles

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

Autotalks Ltd
Capgemini SE
Continental AG
HARMAN International (Samsung Electronics Co. Ltd.)
Infineon Technologies AG
NXP Semiconductors
Qualcomm Technologies Inc
Robert Bosch GmbH

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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