Vehicle-to-Everything (V2X) Communications System Market Poised for Robust Growth, forecasted to Expand at 36.85% CAGR from 2022-27

MarkNtel Advisors has released its latest report highlighting strong growth in The Global Vehicle-to-Everything (V2X) Communication System Market is projected to grow at a CAGR of around 36.85% during the forecast period, 2022-27.

Report Coverage

This report offers a comprehensive analysis of the Vehicle-to-Everything (V2X) Communications System Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2021
• Forecast Years: 2022-27
• Historical Years: 2017-20

Vehicle-to-Everything (V2X) Communications System Market Overview

The market growth imputes to the rising mandates of the international & national governments to deploy advanced connected car technologies to enhance traffic efficiency by warning drivers about the traffic & suggesting alternative routes to avoid the collision. According to the World Health Organization, road traffic accidents cause a total of around 1.3 million fatalities globally, with over 20-30 million suffering from non-fatal injuries, with any incurring disabilities as a result of their injuries. This notably increased the demand for the deployment of advanced communication systems in vehicles.

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Vehicle-to-Everything (V2X) Communications System Market Segmentation Outlook

The Vehicle-to-Everything (V2X) Communications System is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Vehicle Type

• Passenger
• Commercial

By Connectivity

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

By Technology

• Vehicle-to-Vehicle
• Vehicle-to-Infrastructure
  • Intelligent Traffic System
  • Emergency Vehicle Notification
  • Passenger Information System
  • Fleet & Asset Management
  • Parking Management System
• Vehicle-to-Pedestrians (V2P)
• Others (Vehicle-to-Grid, Vehicle-to-Device, etc.)

By Demand Type

• OEMs
• Aftermarkets

By Vehicle Autonomy

• Autonomous
• Semi-Autonomous

By Component

• Hardware
  • On-board Units (OBU)
  • Roadside Units (RSU)
  • Others (Antenna, Evaluation Kits, etc.)
• Software
  • V2X Software Stack
  • V2X Software Development Kit

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Vehicle-to-Everything (V2X) Communications System Market Trend

Fueling Adoption of Autonomous Vehicles to Provide Lucrative Growth Opportunities for the V2X Market Globally- The rising traction of consumers towards adopting semi-autonomous & fully autonomous vehicles supported by an increase in purchasing power & a boost in government support have escalated the demand for V2X communication systems globally. Autonomous vehicles rely on advanced V2X technologies & systems to collect & share real-time data to verticals such as automotive, banking & insurance, among others, to monetize the vehicle-collected data for future technological developments.

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Top Vehicle-to-Everything (V2X) Communications System Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies Autotalks Ltd., Continental AG, HARMAN International, Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies, Inc., Robert Bosch GmbH, STMicroelectronics, Cohda Wireless, Others as key players shaping the market landscape.

Vehicle-to-Everything (V2X) Communications System Market News

• In 2021, Infineon technologies, Inc. announced the launch of the SLS37 V2X hardware security module (HSM), which is a plug-and-play security solution for vehicle-to-everything communication (V2x). The new module is a highly secured & tamper-resistant microcontroller tailored to the security needs in V2X applications within telematics control units. 
• In 2020, Cohda announced to update its C-v2X Software Development Kit that features an extensive range of useful applications & tools, as well as a virtual simulation tool (vsim).
• In 2019, Harman International unveiled a new Dual-Mode V2X system aimed at enhancing automotive safety that features both hardware & software.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2027?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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