Pune, India, December 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global V2X Market.
The V2X market will witness a healthy growth from 2022 to 2030, a research report suggests. Growing at a CAGR of 35%, the market is projected to reach US$15 billion by 2030. Demand for semi-autonomous cars is expected to support the market growth along with the rise in fuel consumption. As predicted by analysts, dip in car sales will negatively affect the market’s performance from 2022 to 2030. During the forecast period, the market will be supported by wastage of time due to traffic congestion and growing technological advances. The dip in the sales of cars on the other hand will challenge vehicle-to-everything sector based organizations functioning in the global V2X market.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of V2X Market Research Report
Analysts have split the market into propulsion, communication type, and component segments based on products and services. Vehicle-to-everything based companies have been profiled. Security issues are set to affect the global market during the forecast period 2020 to 2026. The report also provides the market’s performance forecasts till 2026. Analysts have studied the strategy of vehicle-to-everything segment based organizations to help new entrants and established businesses. The vehicle-to-everything sector itself is supported by growing need for better traffic management as well as technological advances in automotive electronics. During the forecast period 2020 to 2026, the V2X market is set to witness a health growth across propulsion, communication type, and component segments as well as regional markets.
The vehicle-to-everything sector has seen growth across propulsion, communication type, and component segments owing to the rapidly growing population and the increasing disposable income. To study the market, analysts have further segmented propulsion, communication type, and component into software and hardware on the basis of component. The market is further segmented into a communication type sub segment which is split into V2C, V2D, V2G, V2I, V2P, and V2V. Additionally, the V2X market on the basis of propulsion is segmented into ICE and EV.
The segmental analysis presented in the report provides vehicle-to-everything field based organizations insights into key growth factors such as high demand across industry verticals as well as challenges such as the growing penetration of alternatives in the market the market will face from 2020 to 2026. The growing demand for semi-autonomous cars and technological advancements are some of the key factors having an influence on vehicle-to-everything industry based companies, suggest analysts as per the V2X market report. But the report also identifies dynamic policies and regulations and the lack of demand from certain regional markets as major threats companies in vehicle-to-everything will face till 2026.
V2X market based companies in the V2X market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Consumers aiming for more convenience will be a key growth driver for regional markets. However, the shifting preference for cheaper alternatives will turn out to be a threat. For the forecast period 2020 to 2026 each of these regional markets are studied in the report. Starting from North America, the regional market and vehicle-to-everything vertical based companies are spread across the United States, Canada, and Mexico. Security of data communication will turn out to be a major challenge from 2020 to 2026. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the increasing awareness among consumers as well as the presence of untapped market opportunities, suggests the report. Similarly, the vehicle-to-everything sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the V2X market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2026.
The global V2X market research report brings a comprehensive study of propulsion, communication type, and component market segments, regional analysis, and vehicle-to-everything vertical based company details of key players. As the forecast period 2020 to 2026 will bring new opportunities for the market owing to a rise in disposable income and the increasing demand from various industry verticals, the market is set to grow at a compound annual growth rate of 58.84% and is predicted to reach a value of US$15,050.0 million by 2026. With SWOT analysis of vehicle-to-everything sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as growing concerns regarding high cost and low research and development budgets, companies in the vehicle-to-everything sector can change the way business is done.
HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focusing on connected innovations for the automobile, industrial, and business industries, announced today that it has acquired virtually all of the properties of Savari, Inc., a Silicon Valley-based automotive technology firm pioneering vehicle-to-everything connectivity (V2X) technology in 5G Edge and automotive devices. HARMAN's robust vehicle telematics and automated driving assistance systems (ADAS) capabilities will be enhanced by Savari's software and hardware innovations, as well as the company's strengths in 5G Edge, multi-access edge computing (MEC), and smart networking solutions.