Industrialization and urbanization milestones are constantly encouraging technology integration thereby, offering lucrative opportunities for the global V2X network market
Surge in the adoption of advanced technologies such as the introduction of artificial intelligence along with strong penetration of high-speed internet and 5G are fuelling the automotive industry towards modernization. The automotive sector is hence adopting and implementing advanced systems thereby stimulating the global V2X network market which is anticipated to witness a CAGR growth of 35% throughout the forecast years 2018 to 2028, reaching an overall market size of USD 14,205 million.
V2X stands for vehicle-to-every communication technology allowing communication between two different vehicles or a vehicle and infrastructure and so on. V2X technology platform and services target the pitfalls of automotive applications helping establish more engaging vehicle communication system.
V2X network slicing is a broad-spectrum covering communication exchange across all the entities within a traffic model such as automotive, pedestrians, and other components of infrastructure focusing on improving monitoring and management of traffic congestion, preventing road accidents and maintaining safety along with an added advantage of achieving energy savings.
The current growth curve and the future progress of the global V2X network market is sketched out to realize the market attractiveness along with prominent industry trends. Major influencing growth variables of the global V2X network market primarily highlight the opportunities for the market growth over the forecast years.
Factors such as massive rate of adoption of advanced and next-generation technologies based on artificial intelligence and 5G integrated automotive sector to scale up the features of cars owing to the increasing need for predictive capabilities of vehicles along with increasing focus on development of smart cities across various developed and developing regions worldwide are accelerating the growth of the global V2X network market during the forecast years.
A major concern for the industry is the implementation costs associated with the technology and growing concerns regarding data communication security are major challenges hindering the global V2X network market.
Adroit Market Research report on the global V2X network market establishes a thorough research of the market spanning from 2018 to 2028 agglomerating multiple crucial aspects such as market drivers, restrains, emerging trends, opportunities, threats and challenges. The market has been assessed throughout the historic phases and the future forecast evaluating the past industry scenario conducted from 2018 to 2020 with the base year of evaluation considered as 2020 and the forecast estimations provided from 2021 to 2028.
The report highlights the nuances of the current industry dynamics and the future trends of the market at global and country level. The study further evaluates the market based on Porter’s five forces analysis followed by positioning of key market players based their strategic initiatives, product portfolio, overall revenue and geographic footprint identifying the prominently players operating the global V2X network market.
The V2X network market has a robust competitive landscape comprising of the well-known large-scale players and the emerging market entrants. Also, the V2X network industry players are approaching untapped potential markets with the purpose of pursuing new opportunities to gain a competitive advantage against other industry players by forming mergers, partnerships, collaborations, and deals with other players thereby expanding business presence.
Based on the communication type segment, the market is categorised into V2V, V2P, V2N, V2C, V2H, V2G, V2I, and V2D. the V2V segment is likely to dominate the communication segment during the forecast years owing to the aforementioned factors. Appealing range of features and advanced capabilities attributed to the implementation of V2V technologies is expected to gather momentum thereby propelling the growth of the segment over the forecast.
Europe is anticipated to lead the V2X network market during the forecast years owing to the well-flourished market consisting of major software developers providing advanced V2X network slicing services and platform. Europe possesses a well-established automotive industry with some of the large scale and high-end manufacturers spearheading the demand for V2X-based technologies. Market players such as Robert Bosch and Delphi established in the region are constantly scaling up the product development strategies along with the business presence by venturing into profitable partnerships with leading automotive manufacturers.
The major players of the global V2X network market are Robert Bosch, HARMAN International, Altran, Continental AG, Autotalks, Qualcomm Technologies, NXP Semiconductors, Infineon Technologies, Delphi Technologies, Google, IBM, Intel, AT&T and STMicroelectronics. The V2X network market consists of well-established local players with a strong foundation along with the international players. additionally, the previously identified market players are introducing highly advanced and novel strategies with the view of sustaining in the global competitive market.
Key segments of the Global V2X Network Market
Communication Type Overview, 2018-2028 (USD Million)
- V2V (vehicle-to-vehicle)
- V2P (vehicle-to-pedestrian)
- V2N (vehicle-to-network)
- V2I (vehicle-to-infrastructure)
- V2H (vehicle-to-home)
- V2G (vehicle-to-grid)
- V2D (vehicle-to-device)
- V2C (vehicle-to-cloud)
Connectivity Type Overview, 2018-2028 (USD Million)
- Dedicated Short-range Communication (DSRC)
- Cellular Connectivity (c-V2X)
Vehicle Type Overview, 2018-2028 (USD Million)
- Passenger Vehicle
- Commercial Vehicle
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa