Automotive Vehicle to Everything (V2X) Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Automotive Vehicle to Everything (V2X) Market is expected to grow at a significant rate of around 42% during the forecast period. Automotive Vehicle to Everything (V2X) is a technology to connect cars with the surroundings like infrastructure, and other vehicles that help the vehicle to get the information about direction, distance, and location of pedestrians and other vehicles. Moreover, to increase the safety of road users and riders’ automotive vehicles to everything (V2X) is introduced. In addition, the market’s key players are introducing the technology and are responsible for the lucrative growth of the market. For instance, In August 2021, Hyundai Motor (South Korea) formed a strategic partnership with Autotalks through a direct investment to accelerate the development and deployment of the next-generation chipset for connected cars

Capgemini Engineering, Autotalks Ltd, Continental AG, Harman International Industries, Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies Inc, Robert Bosch GmbH, Savari Inc, STMicroelectronics are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst connectivity, Cellular Connectivity category to witness robust CAGR during the forecast period”

Based on type, the market is categorized into Cellular Connectivity and Dedicated Short Range Communication (DSRC). The Cellular Connectivity category to witness higher CAGR during the forecast period. As cellular connectivity has a wide coverage and great connectivity option. Moreover, cellular connectivity owing to its extensive coverage will require substantial time for deployment. In addition, cellular with its strong potential and exact response is the reason for gaining lucrative growth in this market.

“Amongst communication, the Vehicle-to-Vehicle (V2V) hold a significant share in the market in 2020”

Based on communication, the market is categorized into vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), vehicle-to-pedestrian (V2P), vehicle-to-cloud (V2C), and others. Among these, vehicle-to-vehicle (V2V) hold a significant share in the market in 2020. This is mainly due to the growing cases of accidents all over the world. Moreover, the V2X technology helps to connect with the surrounding vehicles and inform the driver about their location, direction, the speed which reduces the chances of any mishappening.

“Amongst vehicle type, passenger cars hold a significant share in the market in 2020”

Based on the vehicle type, the market is categorized into commercial vehicles and passenger cars. Among all these, Passenger Cars hold a significant share of the market in 2020. Moreover, with an increase in traveling and the growing preference of the population for the passenger vehicle and for the safety of passengers, V2X technology in the passenger type vehicle is driving the growth of this market. Moreover, factors such as the growing demand for passenger cars among private customers, the potential to reduce collisions, and increase extra safety for the rider as well as everything around.

“Asia-Pacific to hold a significant share in the market”     

In 2020, Asia-Pacific held a significant share of the global automotive vehicle to everything (V2X) market. The area has become a center for the manufacture of automobiles. Demand for Automotive Vehicle to Everything (V2X) has increased in the Asia Pacific due to rising environmental concerns and the rising purchasing power of the populace. As two of the world’s top producers of electronics, South Korea and Japan would be able to create V2X systems that perform better and are more affordable. Additionally, the important players’ confidence to enter this market has increased because of the rising demand in the area. Moreover, to increase the safety of the road users and the riders as well. For instance, according to the Ministry of Road Transport And Highways, a total of 1,20,806 fatal accidents were reported in 2020

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global automotive vehicle to everything (V2X) market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Automotive Vehicle to Everything (V2X) Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Automotive Vehicle to Everything (V2X) market were the three major steps undertaken to create and analyze the adoption of Automotive Vehicle to Everything (V2X) in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive vehicle to everything (V2X) market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Automotive Vehicle to Everything (V2X) market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Automotive Vehicle to Everything (V2X) market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as connectivity, communication, and vehicle type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive vehicle to everything (V2X) market. Further, we conducted factor analysis using dependent and independent variables such as connectivity, communication, and vehicle type of automotive vehicle to everything (V2X). A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive vehicle to everything (V2X) market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Automotive Vehicle to Everything (V2X) market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the automotive vehicle to everything (V2X) market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global automotive vehicle to everything (V2X) market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Automotive Vehicle to Everything (V2X) market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of connectivity, communication, and vehicle type in the global Automotive Vehicle to Everything (V2X) market.

The main objective of the Global Automotive Vehicle to Everything (V2X) Market Study

The current & future market trends of the global Automotive Vehicle to Everything (V2X) market was pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the automotive vehicle to everything (v2x) market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of connectivity, communication, and vehicle type.
• Define and analysis of the regulatory framework for the technology services
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Automotive Vehicle to Everything (V2X) market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Automotive Vehicle to Everything (V2X) market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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