India V2X Market Research Report By Technology (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, Others), By Component (Hardware, Software), By Communication Type (V2C, V2D, V2G, V2P, V2V, V2I), By Propulsion (Electric Vehicle (EV), ICE Vehicle), By Connectivity (DSRC, Cellular), By Unit Type (Onboard Unit, Roadside Unit) and By Vehicle Type (Passenger Car, Commercial Vehicle)-Forecast

India V2X Market Overview

As per MRFR analysis, the India V2X Market Size was estimated at 305.1 (USD Million) in 2023.The India V2X Market Industry is expected to grow from 810(USD Million) in 2024 to 9,016 (USD Million) by 2035. The India V2X Market CAGR (growth rate) is expected to be around 24.491% during the forecast period (2025 - 2035).

Key India V2X Market Trends Highlighted

The India V2X market is experiencing substantial market trends that are influenced by a variety of key factors. The demand for advanced communication technologies that improve traffic management and road safety is driven by the rapid urbanization and increasing vehicle ownership in India. The Indian government's favorable policies promoting electric and connected vehicles, as well as its drive for smart city initiatives, are also contributing to Market growth.

The government's emphasis on the development of a resilient infrastructure for V2X communication presents an opportunity to improve the connectivity between vehicles and their surroundings. This paves the way for local companies and entrepreneurs to innovate and offer customized solutions for the road conditions in India. In recent years, there has been a significant increase in the collaboration between government bodies, technology firms, and manufacturers.

The objective of these partnerships is to establish a comprehensive ecosystem for V2X technologies, which encompasses the data security measures, protocols, and facilitating standards that are essential for their widespread adoption. Furthermore, the integration of artificial intelligence and machine learning into V2X systems is becoming a critical trend, as it offers enhanced predictive capabilities and analytics that enhance traffic flow and decrease the number of accidents.

In rural areas where road infrastructure is still in the process of development, there are additional opportunities for research and development in V2X technologies as electric and autonomous vehicles acquire traction.The V2X market is experiencing a surge in innovation as a result of the growing awareness of environmental concerns, road safety, and efficient traffic management. The India V2X market is a vital area for growth and development in the upcoming years, as a result of the vibrant landscape that all of these elements have created.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

India V2X Market Drivers

Government Initiatives and Policies

The Government of India has been actively promoting smart transportation solutions, which significantly impacts the India V2X Market Industry. One of the key initiatives is the National Electric Mobility Mission Plan, which aims to boost electric vehicle adoption that is foundational for Vehicle-to-Everything technology. The introduction of favorable policies, incentives for electric with connectivity features, and investments in infrastructure for smart mobility are expected to enhance the growth prospects of this market.

For instance, the Ministry of Road Transport and Highways reported that over 20% of vehicles in urban India are expected to adopt V2X capabilities over the next decade, reflecting governmental commitment towards digitized transport networks, which in turn stimulates the India V2X Market.

Rising Adoption of Smart Transportation Solutions

The adoption of smart transportation solutions in India is witnessing an upward trend, driven by technological advancements and increasing urbanization. According to data from the Ministry of Urban Development, urban population in India is likely to reach about 600 million by 2031, necessitating efficient traffic management and communication between vehicles and infrastructure.

This creates a favorable environment for the India V2X Market Industry, as smart vehicles equipped with V2X technology can aid in reducing congestion and enhancing road safety.Leading automotive manufacturers, such as Tata Motors and Mahindra & Mahindra, are also accelerating their development of connected vehicles, ensuring the increasing demand for V2X systems is met.

Increased Focus on Road Safety

The growing emphasis on road safety standards is a critical driver for the India V2X Market Industry. The Ministry of Road Transport and Highways reported more than 151,000 road accidents in 2021, with significant numbers of fatalities. The deployment of V2X technology can reduce accidents by facilitating better communication and coordination among vehicles and between vehicles and road infrastructure.

With various automotive safety organizations advocating for enhanced safety measures, the necessity for smart technologies like V2X has become crucial.Companies like Bosch and Continental are working on innovative V2X solutions, contributing to safer driving conditions and addressing the urgent need highlighted by these statistics.

India V2X Market Segment Insights

V2X Market Technology Insights

The Technology segment within the India V2X Market is rapidly evolving, driven by the need for enhanced vehicle-to-everything communication capabilities that improve road safety and traffic management. This segment encompasses various components such as Automated Driver Assistance, which has gained significant traction as it leverages advanced sensors and algorithms to minimize human error in driving, contributing to safer vehicle operation. Intelligent Traffic Systems play a crucial role by integrating real-time data to manage traffic flows and reduce congestion, reflecting a growing trend towards smart city initiatives in India.

Emergency Vehicle Notification technologies are vital for ensuring prompt responses during emergencies, thereby enhancing public safety and a quicker response time for critical situations. On the other hand, Passenger Information Systems are pivotal for enhancing the travel experience through timely updates and routing information, catering to the evolving expectations of commuters in urban environments.

Fleet and Asset Management solutions are also becoming increasingly important as they provide operational efficiency and real-time monitoring for logistics companies, representing a significant opportunity for businesses to optimize their operations in a competitive landscape. Furthermore, Parking Management Systems address the persistent issues related to urban parking challenges by improving space utilization and reducing downtime for drivers searching for parking spots.

The implementation of both Line of Sight and Non-Line of Sight technologies is crucial for comprehensive communication between vehicles and infrastructure, reinforcing safety protocols and operational efficiency. Each of these areas contributes to the overall goals of reducing accidents, improving traffic management, and enhancing the user experience in urban environments across India.

The growing focus on sustainable transportation solutions from the Indian government, such as green initiatives and smart infrastructure projects, further fuels the momentum in the Technology segment of the India V2X Market, creating an environment ripe for innovation and growth in various applications that shape the future of mobility. As emerging technologies continue to be developed and integrated into this space, opportunities abound for enhancing connectivity, safety, and efficiency in transportation systems throughout the country.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

V2X Market Component Insights

The Component segment of the India V2X Market plays a crucial role in shaping the future of connected vehicle technology in the region. With the Indian government's push towards smart transportation and infrastructure, the demand for innovative solutions is on the rise. Hardware within this segment, including advanced communication devices and sensor technologies, is essential for enabling vehicle-to-everything communication, enhancing safety and efficiency on the roads.

In parallel, Software components are increasingly vital for processing vast amounts of data generated by vehicles and facilitating real-time communication between vehicles and infrastructure.These technologies not only support traffic management and reduce congestion but also pave the way for the development of autonomous vehicles, which is a growing priority in India's automotive sector.

The integration of these components is driving significant advancements in the telematics ecosystem, ensuring that the India V2X Market revenue continues to expand as technological adoption grows. Overall, the segmentation of the India V2X Market emphasizes both Hardware and Software as foundational elements, contributing to the successful implementation of innovative transportation solutions.

V2X Market Communication Type Insights

The India V2X Market is evolving rapidly, particularly in the Communication Type segment, which plays a crucial role in enhancing vehicle interaction with infrastructure, other vehicles, and pedestrians. Each communication type such as Vehicle-to-Cloud (V2C), Vehicle-to-Device (V2D), Vehicle-to-Grid (V2G), Vehicle-to-Pedestrian (V2P), Vehicle-to-Vehicle (V2V), and Vehicle-to-Infrastructure (V2I), contributes uniquely to the overall functionality and growth of the market.

V2V communication is significant, as it enables vehicles to share information about speed, direction, and potential hazards, thus improving road safety and efficiency.Similarly, V2I is pivotal for traffic management and smart city initiatives in India, as it connects vehicles with traffic signals and roadside infrastructures. The increasing government focus on road safety and advancements in smart transportation solutions in India are expected to drive the adoption of these communication types.

Furthermore, the integration of innovative technology and the growing emphasis on electric and connected vehicles represent vast opportunities for advancement, shaping the future landscape of the India V2X Market. As urbanization progresses, the demand for efficient transportation solutions aligns with the capabilities of these communication types, contributing significantly to market growth and development.

V2X Market Propulsion Insights

The Propulsion segment within the India V2X Market plays a crucial role in the transformation of transportation, particularly in the context of the country’s ambition to enhance mobility through advanced technologies. The Electric Vehicle (EV) segment is significant as it aligns with India’s goal to reduce carbon emissions and promote sustainable transportation solutions.

The government's focus on initiatives like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme has accelerated the adoption of EVs, driving innovation and investments in this segment.Conversely, the Internal Combustion Engine (ICE) Vehicle segment remains prevalent, as traditional vehicles still dominate the market. However, the ongoing shift towards electric mobility is slowly reshaping consumer preferences and increasing the presence of EVs on Indian roads. Increased infrastructure development, including charging stations, is expected to support the growth of the EV segment as it offers a cleaner alternative to traditional transportation.

As the India V2X Market evolves, the propulsion segment will face both challenges and opportunities, particularly in balancing the existing ICE technologies with emerging EV solutions that promise improved efficiency and lower environmental impacts.The dynamic nature of this segment highlights the importance of continuous advancements in vehicle propulsion technology to meet the demands of urban mobility in India.

V2X Market Connectivity Insights

The Connectivity segment within the India V2X Market plays a critical role in enhancing communication systems between vehicles and infrastructure, thereby fostering safer and more efficient transportation networks. With the rise of smart cities in India, the demand for robust connectivity solutions has surged. Dedicated Short Range Communication (DSRC) has emerged as a prominent technology, offering low-latency communication essential for real-time applications such as collision avoidance and traffic management.

Similarly, Cellular networks have gained traction, leveraging existing mobile infrastructure to provide broader coverage and higher bandwidth for vehicle communication, which is crucial for applications like remote vehicle diagnostics and real-time navigation.The integration of these technologies supports the government's Smart City Mission, aiming to improve urban mobility and reduce traffic congestion.

As the focus on electric and connected vehicles increases, the emphasis on reliable connectivity solutions continues to grow, positioning this segment as a key driver in the evolution of India's transportation ecosystem. The market is also influenced by evolving regulations and standards that encourage the adoption of advanced connectivity solutions, paving the way for innovative services in the automotive sector.Overall, developments in the Connectivity segment are set to significantly shape the landscape of India's transportation infrastructure.

V2X Market Unit Type Insights

The India V2X Market, focusing on the Unit Type segment, exhibits significant growth as the integration of vehicular communication technologies becomes a priority in urban mobility solutions. The Onboard Unit plays a crucial role in enabling vehicle-to-vehicle and vehicle-to-infrastructure communication, facilitating real-time data exchange that enhances road safety and traffic efficiency.

Meanwhile, the Roadside Unit complements this by providing critical connectivity and infrastructure support, making it essential for the implementation of smart city concepts across India.With the Indian government's push towards electric vehicles and smart transportation ecosystems, both units are vital in transforming the national infrastructure landscape. Increased adoption is driven by rising concerns over road safety, congestion, and pollution, presenting opportunities for innovation and investment in intelligent transport systems. The growth in India V2X Market segmentation highlights an upward trend in demand for advanced communication technologies, setting the stage for substantial market developments in the near future.

V2X Market Vehicle Type Insights

The Vehicle Type segment of the India V2X Market encompasses a range of vehicles, primarily focusing on Passenger Cars and Commercial Vehicles. This segment has shown significant growth potential, driven by the increasing need for efficient and safe transportation solutions in urban areas of India. The rapid surge in vehicle ownership and rising awareness about smart transportation solutions have catalyzed the demand for V2X technology in Passenger Cars, which play a crucial role in enhancing traffic management and reducing accidents.

Conversely, Commercial Vehicles are significant contributors, given their impact on logistics and supply chain efficiency in a growing economy.The integration of V2X technology in these vehicles is poised to improve connectivity and optimize fleet management, catering to India's vast transportation needs.

With the Indian government's push towards smart cities and sustainable mobility solutions, the Vehicle Type segment in the V2X Market is expected to witness dynamic developments, aligning with broader trends in urbanization and technology adoption. This segment represents a critical component reflecting the evolution of the transportation landscape, with substantial implications for both economic growth and urban infrastructure.

India V2X Market Key Players and Competitive Insights

The India V2X Market, representing Vehicle-to-Everything communication technology, is rapidly evolving as a key component in the advancement of smart transportation systems and autonomous vehicles. This market encompasses various applications such as vehicular communication with infrastructure, other vehicles, and even pedestrians.

The competitive landscape is characterized by a mix of both established players and emerging startups, all vying for market share through innovative solutions and strategic partnerships. The push towards smart cities and the adoption of electric vehicles further intensify competition, encouraging companies to constantly innovate while also navigating regulations and consumer expectations.

As the demand for enhanced road safety, traffic efficiency, and energy management rises, the competition in this market is expected to intensify with new participants and technologies entering the fray.Bosch has established a solid foothold in the India V2X Market, leveraging its extensive experience in automotive technology and a commitment to smart mobility solutions.

The company is recognized for its portfolio of advanced technology offerings, including connected vehicle solutions that enhance communication between vehicles and infrastructure, ultimately improving road safety and efficiency. With a strong brand reputation and deep technological expertise, Bosch is well-positioned to address the increasing demand for V2X solutions in India.

The company's focus on integrating Internet of Things technologies with automotive applications enables them to offer robust and reliable systems favored by both consumers and regulatory bodies. Bosch's ongoing investment in research and development ensures its continued relevance in the evolving landscape, making it a formidable player in the Indian V2X Market.

Ericsson is equally significant in the India V2X Market, leveraging its robust telecommunications infrastructure to support vehicle-to-everything communications. Known for providing advanced connectivity solutions, Ericsson's portfolio includes essential components such as network services, cloud solutions, and real-time data analytics that are vital for effective V2X communication.

As India pushes towards becoming a major player in smart mobility, Ericsson's strengths lie in its innovative technologies that facilitate high-speed, low-latency communications crucial for autonomous driving applications. The company has actively pursued partnerships and collaborations within the Indian ecosystem to expand its reach and capabilities. In addition, Ericsson has embraced mergers and acquisitions to enhance its service offerings tailored to the Indian market, allowing it to integrate localized insights and expertise into its V2X solutions. This positions Ericsson as a pivotal player driving the evolution of smart vehicles and connected infrastructure in India.

Key Companies in the India V2X Market Include

• Bosch


• Ericsson


• Wipro


• HCL Technologies


• Qualcomm


• Bharat Electronics


• L&T Technology Services


• Infosys


• Reliance Industries


• NVIDIA


• CureMetrix


• Tata Consultancy Services


• Mahindra Group


• Ashok Leyland


• Siemens

India V2X Market Industry Developments

The India V2X (Vehicle-to-Everything) market has recently witnessed significant developments, particularly with several major companies actively enhancing their capabilities. Bosch and Tata Consultancy Services are collaborating on innovative solutions to improve traffic management and vehicle safety through advanced connectivity technologies. In current affairs, Reliance Industries has announced its intent to integrate V2X technologies into its smart city initiatives, enhancing urban mobility.

As for market valuation, several firms, including Qualcomm and HCL Technologies, have seen growth in valuation attributed to their advancements in automotive connectivity solutions. In terms of mergers and acquisitions, in June 2023, Ashok Leyland acquired a minority stake in CureMetrix to leverage artificial intelligence for enhancing vehicle safety, a move widely recognized in the automotive sector.

The past couple of years have also highlighted collaborations, such as Siemens and Infosys joining hands in late 2021 to develop smart infrastructure aimed at supporting vehicle connectivity. Overall, the enhancements in the India V2X market are poised to revolutionize the transportation sector, aligning with the government's commitment to advancing smart mobility solutions.

India V2X Market Segmentation Insights

V2X Market Technology Outlook

• 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


• Others

V2X Market Component Outlook

• Hardware


• Software

V2X Market Communication Type Outlook

• V2C


• V2D


• V2G


• V2P


• V2V


• V2I

V2X Market Propulsion Outlook

• Electric Vehicle (EV)


• ICE Vehicle

V2X Market Connectivity Outlook

• DSRC


• Cellular

V2X Market Unit Type Outlook

• Onboard Unit


• Roadside Unit

V2X Market Vehicle Type Outlook

• Passenger Car


• Commercial Vehicle

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	305.1(USD Million)
MARKET SIZE 2024	810.0(USD Million)
MARKET SIZE 2035	9016.0(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	24.491% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	Bosch, Ericsson, Wipro, HCL Technologies, Qualcomm, Bharat Electronics, L&T Technology Services, Infosys, Reliance Industries, NVIDIA, CureMetrix, Tata Consultancy Services, Mahindra Group, Ashok Leyland, Siemens
SEGMENTS COVERED	Technology, Component, Communication Type, Propulsion, Connectivity, Unit Type, Vehicle Type
KEY MARKET OPPORTUNITIES	Government policy incentives, Rapid urbanization and smart cities, Growing electric vehicle adoption, Rising safety and traffic management needs, Advancements in 5G connectivity
KEY MARKET DYNAMICS	Government initiatives and policies, Increasing demand for connected vehicles, Growing focus on road safety, Advancements in communication technology, Urbanization and smart city development
COUNTRIES COVERED	India