V2X Market Outlook and Opportunities in Grooming Regions with Forecast 2032

Market Research Future (MRFR) has published on the “Global V2X Market”.

The Snowmobile Parts & Accessories Market is estimated to register a CAGR of 32.9% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global V2X market - Continental AG, Infineon Technologies AG, Robert Bosch GmbH, Delphi Technologies, Denso Corporation, STMicroelectronics NV, NXP Semiconductors, Qualcomm Technologies, Inc., Autotalks Ltd., and HARMAN International.

Market Highlights

The Global V2X Market is accounted for to register a CAGR of 32.9% during the forecast period and is estimated to reach USD  43,897.0 million by 2032.

The need for improved automotive safety features and more effective traffic management is driving growth in the V2X technology industry. Numerous factors, such as the demand for safer automobiles, improved traffic control, and the advancement of linked and autonomous vehicles, are driving this. V2X technology can help optimize traffic flow and reduce gridlock, which is important in cities where there is a lot of traffic. Many vehicles today include features that assist drivers in specific circumstances, such as keeping us from drifting out of our lane or helping us stop in time to avoid a crash or reduce its severity. Newer vehicles are built better and have more safety features to protect drivers and passengers. The National Highway Traffic Safety Administration (NHTSA) has been involved in vehicle safety improvements, setting, and enforcing safety standards, and developing innovative approaches to vehicle safety.

Both domestically and globally, there has been a rise in traffic-related fatalities and accidents in recent years. In the first quarter of 2022, there was a record number of fatalities countrywide, according to the National Highway Traffic Safety Administration (NHTSA). An estimated 9,560 persons died in motor vehicle traffic crashes. A road accident may cause a loss of life/lives or grievous injury and minor injury to road users. The accident usually causes the neck to snap quickly. Other kinds of injuries due to the collisions include mild neck strain and dislocation of vertebrae bones of the spine. Such scenarios related to road accidents and neck injuries in vehicles raise concerns regarding passenger & vehicle safety, worldwide.

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Segment Analysis

The Global V2X Market has been segmented based on Technology, Component, Communication Type, Propulsion, Connectivity, Unit Type, Vehicle Type and Region

Based on technology, the market is segmented into Below Automated Driver Assistance Intelligent Traffic System, Emergency Vehicle Notification, Passenger Information System, Fleet & Asset Management, Parking Management System, Line of Sight, Non-line of Sight, and Others.

Based on components, the global V2X Betting market has been segmented into Hardware and Software. The Hardware segment was expected to hold the largest market share in 2024.

Based on the communication type, the market is segmented into V2C, V2D, V2G, V2P, V2V, and V2I. V2V segment is projected to have the largest market share during the forecast period.

Based on the propulsion, the market is segmented into Electric Vehicle (EV) and ICE Vehicle. The ICE Vehicle segment is projected to have the largest market share during the forecast period.

Based on the connectivity, the market is segmented into DSRC and Cellular. The cellular segment is projected to have the largest market share during the forecast period.

Based on the unit type, the market is segmented into the Onboard Unit and Roadside Unit. Onboard Unit segment is projected to have the largest market share during the forecast period.

Based on the vehicle type, the market is segmented into Passenger Car and Commercial Vehicle. Commercial Vehicle segment is projected to have the largest market share during the forecast period.

Regional Analysis

The global V2X market, based on region, has been divided into North America, Europe, Asia-Pacific, and Middle East & Africa, and South America. North America consists of US, Canada, and Mexico. The Europe V2X market comprises of UK, Germany, France, Italy, and the rest of Europe. The V2X market in Asia-Pacific has been segmented into China, India, Japan, and the rest of Asia-Pacific. The Middle East & Africa V2X market and South America.

The North American V2X (Vehicle-to-Everything) market is experiencing growth as electric vehicles (EVs) become more prevalent in the region. The term "Vehicle-to-Everything" (V2X) market describes the expanding trend in North America of linking automobiles to their environment in order to improve communication, safety, and navigation. Vehicles may communicate vital information with smart gadgets, people, infrastructure, and other vehicles thanks to V2X technology. Because of this connectivity, real-time communication is possible, allowing cars to make decisions based on their environment.

The European Union's commitment to reducing greenhouse gas emissions also acts as a driving force for the V2X market. V2X technology has the potential to optimize traffic flow, alleviate congestion, and enhance fuel efficiency, leading to a decrease in carbon emissions and the establishment of a more sustainable transportation system. To conclude, the V2X market in Europe is expected to witness significant growth in the future, fueled by concerns regarding road safety, the rise of autonomous vehicles, and the EU's commitment to sustainability. The development and implementation of V2X technology holds immense potential for improving road safety, reducing traffic congestion, and achieving a greener transportation system in Europe.

The Asia-Pacific V2X (Vehicle-to-Everything) market is a rapidly growing industry that utilizes technology to facilitate communication and data exchange between vehicles and other entities. This market encompasses various technologies such as vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), and vehicle-to-grid (V2G) communication. Several factors drive the growth of the Asia-Pacific V2X market. The increasing adoption of connected cars and advanced driver assistance systems (ADAS) is boosting the demand for V2X technologies. Many countries' governments also implement stringent regulations and policies to enhance road safety and traffic management, further propelling market growth.

The Middle East and Africa (MEA) region encompasses technologies that facilitate communication between vehicles and their surroundings, including other vehicles, infrastructure, pedestrians, and the cloud. This market is expanding significantly because of a number of important aspects. First, a greater emphasis on traffic safety is driving v2x technology adoption. Implementing these technologies to reduce accidents and enhance traffic management is actively encouraged by governments and automotive regulatory agencies. Second, the Middle East and Africa v2x market is being driven by the region's growing demand for connected automobiles.

The driving factors behind the growth of the South America V2X market include several key factors:

• The need for sophisticated car safety features and road safety are growing concerns. Vehicles may communicate in real time about possible barriers or hazards thanks to V2X technology, which makes roads safer and accident rates lower.


• To reduce road congestion and increase mobility, South American governments and regulatory agencies are pushing the adoption of V2X technologies. Transportation systems can operate more efficiently because to V2X communication, which enables improved traffic management, smarter routing, and decreased traffic congestion.

Key Findings of the Study

• The global V2X market is expected to reach USD 43,897.0 million by 2032, at a CAGR of 32.9% during the forecast period.


• The Europe region accounted for the fastest-growing global market, as it has the region’s large manufacturing and logistics industries.


• Based on technology, the Intelligent Traffic System segment was attributed to holding the largest market in 2022, with an approximate market share of 17.4%.


• Continental AG, Infineon Technologies AG, Robert Bosch GmbH, Delphi Technologies, Denso Corporation, STMicroelectronics NV, NXP Semiconductors, Qualcomm Technologies, Inc., Autotalks Ltd., and HARMAN International.