The Perfect Enemy | Automotive V2X Market Worth USD 25.02 Bn by 2029 Technological … - GlobeNewswire
January 29, 2023

Automotive V2X Market Worth USD 25.02 Bn by 2029 Technological … – GlobeNewswire

Automotive V2X Market Worth USD 25.02 Bn by 2029 Technological …  GlobeNewswire

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Pune, Jan. 23, 2023 (GLOBE NEWSWIRE) — Maximize Market research has published a market intelligence and industry analysis report on “Automotive V2X Market“. Automotive V2X Market accounted for USD 1.88 billion in 2021 and is expected to reach USD 25.02 billion by 2029 at a CAGR of 38.2 % during the forecast period.

Automotive V2X Market Scope and Research Methodology

The report on Automotive V2X Market is a comprehensive analysis that covers trends and highlights prevailing in the Automotive V2X Market, helping clients explore the opportunities and formulate strategies in the market. Analysis of key market players and new entrants is provided based on goods and services offered, revenue, financial status, portfolio, growth strategies, and regional presence. Recent developments regarding acquisitions and mergers, and the strategic stance of the companies with information on joint alliances give an accurate picture of the competitive landscape in the Automotive V2X Market. To understand the products and services of the Automotive V2X Market, segment-wise analysis is conducted by type, function and end-use industry equipped with factors affecting the market and current technological changes and innovations adopted. The report also explains in detail the drivers, challenges, restraints and challenges of the Automotive V2X Market. Regional analysis of the market focusing on the local, regional and global levels is provided to prove as a guide for market followers and entrants to develop pricing and marketing strategies.

The bottom-up approach was used for market estimation and global market trend analysis. Data was collected employing both primary and secondary research methods for a large sample to get accurate inferences. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to understand the strengths and weaknesses of key companies and PESTLE to grasp the various factors affecting the market. Thus the report provides a complete overview of the Automotive V2X Market.

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Automotive V2X Market Overview

Vehicle-to-everything (V2X) technology for the automotive industry enables communication between cars to learn about any obstructions, such as infrastructure, traffic lights, toll gates, pedestrians, or other parts in a space with heavy traffic. The idea of an intelligent transportation system (ITS) is supported and aids in enhancing road safety through the use of cutting-edge technical advancements and effective traffic management.

Automotive V2X Market Dynamics

The global market demand is being driven by factors such as the increasing usage of connected automobiles globally, the amount of technological breakthroughs in the automotive industry, as well as recent strategic initiatives from top market players. For instance, Statista estimates that the global market for connected cars would be worth USD 65 billion in 2020.

By 2025, it is expected that this market will increase to USD 121 billion. Furthermore, the development of the global automotive V2X market would be impacted by strategic initiatives from governmental bodies. For instance, the Vehicle to Everything (V2X) Memorandum of Understanding was unveiled by the US Department of Energy (DOE) and partners in April 2022. (MOU). During the forecast period, it is predicted that the growing use of 5G and AI technologies as well as rising personal vehicle ownership in emerging economies would act as a catalyst for market demand. Over the projection period of 2022–2029, the market will likely continue to develop, but high implementation and maintenance costs associated with V2X technology and growing cyber security concerns may restrain it.

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Automotive V2X Market Regional Insights

As telecommunication technology providers and car OEMs are the key actors deciding on vehicles for development in this region, Asia Pacific held the greatest market share. It is projected that China and Japan will dominate technological progress in the Asia Pacific.

The market is also expected to grow significantly in Europe. This area saw a number of research projects, business partnerships, and group testing for vehicle-to-everything connectivity. For instance, the CAR 2 CAR collaboration focuses on improving intelligent transport systems and implementing them on European roads. It is made up of numerous technology companies and automakers.

Market Size in 2021 USD 1.88 Bn.
Market Size in 2029 USD 25.02 Bn.
CAGR 38.2 % (2022-2029)
Forecast Period 2022-2029
Base Year 2021
Number of Pages 210
No. of Tables 105
No. of Charts and Figures 112
Segement Covered Vehicle Type, Application, Communication Type, Offering, Connectivity Type
Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Automotive V2X Market Key Competitors:

• Intel Corporation (US)

• Qualcomm Technologies Inc.(US)

• Harman International Industries, Inc.(US)

• Nvidia Corporation(US)

• NXP Semiconductors N.V.(Netherland)

• TomTom International BV.(Netherland)

• Autotalks ltd. (Israel)

• Cohda Wireless (Australia)

•Continental AG(Germany)

• Daimler AG(Germany)

• Audi AG(Germany)

• Infineon Technologies AG (Germany)

• Robert Bosch GmBH (Germany)

Key questions answered in the Automotive V2X Market are:

  • What are the technological innovations in Automotive V2X Market?
  • What are the factors driving the growth of the Automotive V2X Market?
  • Which technology insight dominated the Automotive V2X Market in 2021?
  • How COVID-19 affected the growth of the Automotive V2X Market?
  • What is the growth rate of the Automotive V2X Market during the forecast period?
  • What are the trends of the Asia-Pacific region in the Automotive V2X Market?
  • Who are the market leaders in Automotive V2X Market in North America region?
  • Which deployment mode led the Automotive V2X Market in 2021?
  • Who are the key players in the Automotive V2X Market?
  • What are the factors restraining the growth of the Automotive V2X Market?
  • Which region held the largest market share in Automotive V2X Market?

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Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Type, Distribution Channel, Application, Price Point, and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading automotive and transportation research firm, has also published the following reports:

V2X Cybersecurity Market size was valued at US$ 1.2 Bn. in 2021 and the total revenue is expected to grow at 18.3% of CAGR through 2022 to 2029, reaching nearly US$ 4.60 Bn. An increase in cyberattacks on the automotive sector, and increased consumer demand for electric vehicles with connected car technologies are the key driving factors that help to grow the market

IoT in Automotive Market was valued US$ 66.76 Bn. in 2021 and is expected to reach US$ 373.17 Bn. by 2029, at a CAGR of 24 % during the forecast period. The growing focus and investments from the worldwide automobile manufacturers is boosting the development in the sector and opening doors for launch of advanced vehicles embedded with latest technology.

Cellular Vehicle-to-Everything Market is expected to grow at a CAGR of 9.21% during the forecast period and is expected to reach US$ 14.68 Bn by 2029. Adoption of advanced technology, rising demand of autonomous vehicle is another major factor that fuels the growth of the market.

Fog Computing Market is expected to grow at a CAGR of 54.97 % over the forecast period 2022-2029, to account for US$ 1.63 Bn in 2029. The IoT has become more popular as a result of the agility and flexibility of big data solutions.

Vehicle Analytics Market size was valued at US$ 2.16 Bn. in 2021 and the total Vehicle Analytics Revenue is expected to grow at 24.3 % through 2022 to 2029, reaching nearly US$ 12.31 Bn. The rise of connectivity solutions in automotive is boosting the market growth over the forecast period.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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