Vehicle-To-Everything Market Revenue, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2028
According to the most recent analysis by Emergen Research, the worldwide vehicle-to-everything (V2X) market is anticipated to reach a market value of USD 11.27 billion by 2028 and exhibit a strong CAGR over the forecast period. Rising desire for autonomous vehicles and automobiles with more sophisticated safety features, especially in developed nations, can be linked to an increase in vehicle-to-everything demand. Autonomous driving is made possible by the implementation of vehicle-to-everything connectivity, which also raises drivers’ awareness of their surroundings. Information like heading, brake pedal condition, and speed accuracy are all communicated with the use of V2X.
Additionally, it alerts autonomous vehicles to surrounding objects that are not in their direct line of sight (non-line-of-sight), which is an important feature for vehicle safety and for assisting autonomous vehicles in making better decisions. A crucial aspect driving demand for vehicle-to-everything connectivity is the high frequency of traffic accidents. By alerting the driver to a potential risk or object that might not be in the driver’s line of sight or visible to other sensors, V2X communication aids in preventing accidents. By giving real-time notifications regarding their whereabouts in relevant circumstances, V2X lowers the risk and vulnerability of drivers, particularly motorcyclists and pedestrians, and increases their safety.
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Key Highlights of Report
The Dual-Mode V2X technology was introduced in June 2019 by HARMAN International with the goal of enhancing car safety.
In 2020, the segment of vehicles to infrastructure retained a sizable revenue share. In addition to managing traffic and lanes, V2I promotes fuel efficiency and lowers pollutants. According to estimates, improved freeway lane management and signal operations can save up to 22.0% on fuel.
Vehicle-to-everything connection greatly benefits intelligent traffic systems and improves traffic efficiency. Vehicles maximise their arrival by waiting for a green signal at a traffic light, and even traffic lights change based on input from approaching vehicles.
During the forecast period, revenue from the Asia Pacific vehicle-to-everything market is anticipated to grow more quickly than that of other regional markets. Numerous government initiatives for the digitalization of urban infrastructure in the region’s countries are responsible for this quick growth rate. Other factors influencing market growth include the increased use of smartphones and worries over driver and on-road vehicle safety.
Continental AG, Infineon Technologies AG, Robert Bosch GmbH, NXP Semiconductors, Harman International, Delphi Technologies, Qualcomm Technologies Inc., DENSO Corporation, Autotalks Ltd., and STMicroelectronics are significant players in the vehicle-to-everything sector.
Emergen Research has segmented the global vehicle-to-everything (V2X) market on the basis of communication type, application, connectivity, and region:
Communication Type Outlook (Revenue, USD Million; 2018–2028)
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Pedestrian (V2P)
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Cloud (V2C)
- Vehicle-to-Device (V2D)
- Vehicle-to-Grid (V2G)
Application Outlook (Revenue, USD Million; 2018–2028)
- Automated Driver Assistance
- Emergency Vehicle Notification
- Intelligent Traffic Systems
- Passenger Information System
- Fleet and Asset Management
- Parking Management System
Connectivity Outlook (Revenue, USD Million; 2018–2028)
- Dedicated Short Range Communication (DSRC)
- Cellular V2X
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
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