V2X Market Research Report - Global Forecast till 2030

V2X Market Research Report: Information By Component (Hardware and Software), By Communication Type (V2C, V2D, V2G, V2P, V2V and V2I), By Propulsion (EV and ICE) - Forecast till 2030

ID: MRFR/AM/4066-CR | December 2020 | Region: Global | 154 Pages         

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS 15

1.1.1 GLOBAL V2X MARKET, BY COMPONENT 15

1.1.2 GLOBAL V2X MARKET, BY COMMUNICATION TYPE 16

1.1.3 GLOBAL V2X MARKET, BY PROPULSION 17

1.1.4 GLOBAL V2X MARKET, BY REGION 18

2 MARKET INTRODUCTION

2.1 DEFINITION 19

2.2 SCOPE OF THE STUDY 19

2.3 MARKET STRUCTURE 19

2.4 KEY BUYING CRITERIA 20

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS 21

3.2 PRIMARY RESEARCH 22

3.3 SECONDARY RESEARCH 23

3.4 MARKET SIZE ESTIMATION 24

3.5 TOP-DOWN AND BOTTOM-UP APPROACH 24

3.6 FORECAST MODEL 25

3.7 LIST OF ASSUMPTIONS 26

4 MARKET DYNAMICS

4.1 INTRODUCTION 27

4.2 DRIVERS 28

4.2.1 INCREASE IN SALE OF EV AND LUXURY VEHICLES 28

4.2.2 INCREASING DEATHS DUE TO ROAD ACCIDENTS 30

4.2.3 DRIVER IMPACT ANALYSIS 31

4.3 RESTRAINT 31

4.3.1 HIGH COST 31

4.3.2 RESTRAINT IMPACT ANALYSIS 32

4.4 OPPORTUNITIES 32

4.4.1 RISING ADOPTION IN DEVELOPED COUNTRIES 32

4.4.2 DEVELOPMENT OF SEMI-AUTONOMOUS AND AUTONOMOUS VEHICLES 33

4.5 COVID-19 IMPACT ANALYSIS 33

4.5.1 ECONOMIC IMPACT ON AUTOMOTIVE INDUSTRY 33

4.5.2 IMPACT ON AUTOMOTIVE PRODUCTION 34

4.5.2.1 FORD 34

4.5.2.2 AMERICAN HONDA 34

4.5.2.3 FCA 35

4.5.2.4 KIA 35

4.5.2.5 VOLKSWAGEN 35

4.5.3 IMPACT ON V2X MARKET 35

4.5.3.1 IMPACT ON SUPPLY CHAIN 35

4.5.3.2 CASH FLOW CONSTRAINTS 36

4.5.4 IMPACT ON WORLD TRADE 36

5 MARKET FACTOR ANALYSIS

5.1 PORTER’S FIVE FORCES MODEL 37

5.1.1 THREAT OF NEW ENTRANTS 38

5.1.2 BARGAINING POWER OF SUPPLIERS 38

5.1.3 THREAT OF SUBSTITUTES 38

5.1.4 BARGAINING POWER OF BUYERS 38

5.1.5 INTENSITY OF RIVALRY 38

5.2 SUPPLY CHAIN ANALYSIS 39

5.2.1 DESIGN & DEVELOPMENT 39

5.2.2 COMPONENT SUPPLY 39

5.2.3 MANUFACTURE/ASSEMBLY 40

5.2.4 END USE 40

6 GLOBAL V2X MARKET, BY COMPONENT

6.1 OVERVIEW 41

6.2 HARDWARE 42

6.3 SOFTWARE 42

7 GLOBAL V2X MARKET, BY PROPULSION

7.1 OVERVIEW 43

7.2 ELECTRIC VEHICLE (EV) 44

7.3 INTERNAL COMBUSTION ENGINE (ICE) VEHICLE 44

8 GLOBAL V2X MARKET, BY COMMUNICATION TYPE

8.1 OVERVIEW 45

8.2 VEHICLE-TO-CLOUD (V2C) 46

8.3 VEHICLE-TO-DEVICE (V2D) 46

8.4 VEHICLE-TO-GRID (V2G) 46

8.5 VEHICLE-TO-PEDESTRIAN (V2P) 46

8.6 VEHICLE-TO-VEHICLE (V2V) 47

8.7 VEHICLE-TO-INFRASTRUCTURE (V2I) 47

9 GLOBAL V2X MARKET, BY REGION

9.1 OVERVIEW 48

9.1.1 GLOBAL V2X MARKET, BY REGION, 2020-2027 48

9.2 NORTH AMERICA 49

9.2.1 US 51

9.2.2 CANADA 52

9.2.3 MEXICO 53

9.3 EUROPE 54

9.3.1 GERMANY 56

9.3.2 UK 57

9.3.3 FRANCE 58

9.3.4 ITALY 59

9.3.5 REST OF EUROPE 60

9.4 ASIA-PACIFIC 61

9.4.1 CHINA 63

9.4.2 JAPAN 64

9.4.3 INDIA 65

9.4.4 REST OF ASIA-PACIFIC 66

9.5 REST OF THE WORLD 67

9.5.1 MIDDLE EAST & AFRICA 69

9.5.2 SOUTH AMERICA 71

10 COMPETITIVE LANDSCAPE

10.1 COMPETITIVE OVERVIEW 73

10.2 MAJOR GROWTH STRATEGY IN THE GLOBAL V2X MARKET 74

10.3 COMPETITIVE BENCHMARKING 75

10.4 MARKET SHARE ANALYSIS 76

10.5 KEY DEVELOPMENTS IN THE GLOBAL V2X MARKET 76

10.5.1 KEY DEVELOPMENTS: MERGERS & ACQUISITIONS 76

10.5.2 KEY DEVELOPMENTS: PARTNERSHIPS/COLLABORATIONS 77

10.5.3 KEY DEVELOPMENTS: EXPANSIONS 77

10.5.4 KEY DEVELOPMENTS: PRODUCT DEVELOPMENTS/LAUNCHES 78

11 COMPANY PROFILES

11.1 CONTINENTAL AG 79

11.1.1 COMPANY OVERVIEW 79

11.1.2 FINANCIAL OVERVIEW 80

11.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 80

11.1.4 KEY DEVELOPMENTS 81

11.1.5 SWOT ANALYSIS 81

11.1.6 KEY STRATEGY 82

11.2 INFINEON TECHNOLOGIES AG 83

11.2.1 COMPANY OVERVIEW 83

11.2.2 FINANCIAL OVERVIEW 84

11.2.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 84

11.2.4 KEY DEVELOPMENTS 85

11.2.5 SWOT ANALYSIS 85

11.2.6 KEY STRATEGIES 85

11.3 ROBERT BOSCH GMBH 86

11.3.1 COMPANY OVERVIEW 86

11.3.2 FINANCIAL OVERVIEW 87

11.3.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 87

11.3.4 KEY DEVELOPMENTS 88

11.3.5 SWOT ANALYSIS 88

11.3.6 KEY STRATEGIES 89

11.4 DELPHI TECHNOLOGIES 90

11.4.1 COMPANY OVERVIEW 90

11.4.2 FINANCIAL OVERVIEW 91

11.4.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 91

11.4.4 KEY DEVELOPMENTS 92

11.4.5 SWOT ANALYSIS 92

11.4.6 KEY STRATEGIES 92

11.5 DENSO CORPORATION 93

11.5.1 COMPANY OVERVIEW 93

11.5.2 FINANCIAL OVERVIEW 94

11.5.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 94

11.5.4 KEY DEVELOPMENTS 95

11.5.5 SWOT ANALYSIS 95

11.5.6 KEY STRATEGIES 95

11.6 STMICROELECTRONICS N.V. 96

11.6.1 COMPANY OVERVIEW 96

11.6.2 FINANCIAL OVERVIEW 97

11.6.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 97

11.6.4 KEY DEVELOPMENTS 98

11.7 NXP SEMICONDUCTORS 99

11.7.1 COMPANY OVERVIEW 99

11.7.2 FINANCIAL OVERVIEW 100

11.7.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 100

11.7.4 KEY DEVELOPMENTS 101

11.8 QUALCOMM TECHNOLOGIES, INC. 102

11.8.1 COMPANY OVERVIEW 102

11.8.2 FINANCIAL OVERVIEW 103

11.8.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 104

11.8.4 KEY DEVELOPMENTS 104

11.9 AUTOTALKS LTD. 105

11.9.1 COMPANY OVERVIEW 105

11.9.2 FINANCIAL OVERVIEW 105

11.9.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 105

11.9.4 KEY DEVELOPMENTS 105

11.10 HARMAN INTERNATIONAL 106

11.10.1 COMPANY OVERVIEW 106

11.10.2 FINANCIAL OVERVIEW 106

11.10.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 106

11.10.4 KEY DEVELOPMENTS 106

12 APPENDIX

12.1 DATA SOURCES 107

13 LIST OF TABLES

TABLE 1 LIST OF ASSUMPTIONS 26

TABLE 2 GLOBAL V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 42

TABLE 3 GLOBAL V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 44

TABLE 4 GLOBAL V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 47

TABLE 5 GLOBAL V2X MARKET, BY REGION, 2020-2027 (USD MILLION) 48

TABLE 6 NORTH AMERICA: V2X MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 49

TABLE 7 NORTH AMERICA: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 49

TABLE 8 NORTH AMERICA: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 50

TABLE 9 NORTH AMERICA: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 50

TABLE 10 US: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 51

TABLE 11 US: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 51

TABLE 12 US: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 51

TABLE 13 CANADA: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 52

TABLE 14 CANADA: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 52

TABLE 15 CANADA: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 52

TABLE 16 MEXICO: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 53

TABLE 17 MEXICO: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 53

TABLE 18 MEXICO: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 53

TABLE 19 EUROPE: V2X MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 54

TABLE 20 EUROPE: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 55

TABLE 21 EUROPE: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 55

TABLE 22 EUROPE: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 55

TABLE 23 GERMANY: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 56

TABLE 24 GERMANY: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 56

TABLE 25 GERMANY: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 56

TABLE 26 UK: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 57

TABLE 27 UK: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 57

TABLE 28 UK: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 57

TABLE 29 FRANCE: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 58

TABLE 30 FRANCE: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 58

TABLE 31 FRANCE: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 58

TABLE 32 ITALY: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 59

TABLE 33 ITALY: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 59

TABLE 34 ITALY: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 59

TABLE 35 REST OF EUROPE: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 60

TABLE 36 REST OF EUROPE: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 60

TABLE 37 REST OF EUROPE: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 60

TABLE 38 ASIA-PACIFIC: V2X MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 61

TABLE 39 ASIA-PACIFIC: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 62

TABLE 40 ASIA-PACIFIC: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 62

TABLE 41 ASIA-PACIFIC: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 62

TABLE 42 CHINA: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 63

TABLE 43 CHINA: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 63

TABLE 44 CHINA: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 63

TABLE 45 JAPAN: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 64

TABLE 46 JAPAN: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 64

TABLE 47 JAPAN: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 64

TABLE 48 INDIA: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 65

TABLE 49 INDIA: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 65

TABLE 50 INDIA: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 65

TABLE 51 REST OF ASIA-PACIFIC: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 66

TABLE 52 REST OF ASIA-PACIFIC: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 66

TABLE 53 REST OF ASIA-PACIFIC: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 66

TABLE 54 REST OF THE WORLD: V2X MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 67

TABLE 55 REST OF THE WORLD: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 67

TABLE 56 REST OF THE WORLD: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 67

TABLE 57 REST OF THE WORLD: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 68

TABLE 58 MIDDLE EAST & AFRICA: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 69

TABLE 59 MIDDLE EAST & AFRICA: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 69

TABLE 60 MIDDLE EAST & AFRICA: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 70

TABLE 61 SOUTH AMERICA: V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 71

TABLE 62 SOUTH AMERICA: V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 71

TABLE 63 SOUTH AMERICA: V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 72

TABLE 64 KEY DEVELOPMENTS: MERGERS & ACQUISITIONS 76

TABLE 65 KEY DEVELOPMENTS: PARTNERSHIPS/COLLABORATIONS 77

TABLE 66 KEY DEVELOPMENTS: EXPANSIONS 77

TABLE 67 KEY DEVELOPMENTS: PRODUCT DEVELOPMENTS/LAUNCHES 78

TABLE 68 CONTINENTAL AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 80

TABLE 69 CONTINENTAL AG: KEY DEVELOPMENTS 81

TABLE 70 INFINEON TECHNOLOGIES AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 84

TABLE 71 INFINEON TECHNOLOGIES AG: KEY DEVELOPMENTS 85

TABLE 72 ROBERT BOSCH GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 87

TABLE 73 ROBERT BOSCH GMBH: KEY DEVELOPMENTS 88

TABLE 74 DELPHI TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 91

TABLE 75 DELPHI TECHNOLOGIES: KEY DEVELOPMENTS 92

TABLE 76 DENSO CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 94

TABLE 77 DENSO CORPORATION: KEY DEVELOPMENTS 95

TABLE 78 STMICROELECTRONICS NV: PRODUCTS/SOLUTIONS/SERVICES OFFERED 97

TABLE 79 STMICROELECTRONICS NV: KEY DEVELOPMENTS 98

TABLE 80 NXP SEMICONDUCTORS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 100

TABLE 81 NXP SEMICONDUCTORS: KEY DEVELOPMENTS 101

TABLE 82 QUALCOMM TECHNOLOGIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 104

TABLE 83 QUALCOMM TECHNOLOGIES, INC.: KEY DEVELOPMENTS 104

TABLE 84 AUTOTALKS LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 105

TABLE 85 AUTOTALKS LTD.: KEY DEVELOPMENTS 105

TABLE 86 HARMAN INTERNATIONAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 106

TABLE 87 HARMAN INTERNATIONAL: KEY DEVELOPMENTS 106

14 LIST OF FIGURES

FIGURE 1 MARKET SYNOPSIS 14

FIGURE 2 GLOBAL V2X MARKET ANALYSIS, BY COMPONENT 15

FIGURE 3 GLOBAL V2X MARKET ANALYSIS, BY COMMUNICATION TYPE 16

FIGURE 4 GLOBAL V2X MARKET ANALYSIS, BY PROPULSION 17

FIGURE 5 GLOBAL V2X MARKET ANALYSIS, BY REGION 18

FIGURE 6 GLOBAL V2X MARKET: MARKET STRUCTURE 19

FIGURE 7 KEY BUYING CRITERIA OF GLOBAL V2X MARKET 20

FIGURE 8 RESEARCH PROCESS OF MRFR 21

FIGURE 9 MARKET DYNAMICS: GLOBAL V2X MARKET 27

FIGURE 10 TOTAL NUMBER OF ELECTRIC VEHICLES ON ROAD, 2020–2027 (MILLIONS) 28

FIGURE 11 EUROPE LUXURY VEHICLES REGISTRATIONS, 2020–2027 (MILLION) 29

FIGURE 12 ROAD ACCIDENT DEATHS PER LAKH POPULATION (2018) 30

FIGURE 13 DRIVER IMPACT ANALYSIS: GLOBAL V2X MARKET 31

FIGURE 14 RESTRAINT IMPACT ANALYSIS: GLOBAL V2X MARKET 32

FIGURE 15 PORTER’S FIVE FORCES ANALYSIS: GLOBAL V2X MARKET 37

FIGURE 16 SUPPLY CHAIN ANALYSIS: GLOBAL V2X MARKET 39

FIGURE 17 GLOBAL V2X MARKET, BY COMPONENT, 2020 (% SHARE) 41

FIGURE 18 GLOBAL V2X MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 41

FIGURE 19 GLOBAL V2X MARKET, BY PROPULSION, 2020 (% SHARE) 43

FIGURE 20 GLOBAL V2X MARKET, BY PROPULSION, 2020-2027 (USD MILLION) 43

FIGURE 21 GLOBAL V2X MARKET, BY COMMUNICATION TYPE, 2020 (% SHARE) 45

FIGURE 22 GLOBAL V2X MARKET, BY COMMUNICATION TYPE, 2020-2027 (USD MILLION) 46

FIGURE 23 GLOBAL V2X MARKET, BY REGION, 2020 (% SHARE) 48

FIGURE 24 PRODUCT DEVELOPMENTS/LAUNCHES: THE MAJOR STRATEGY ADOPTED BY KEY PLAYERS IN GLOBAL V2X MARKET 74

FIGURE 25 BENCHMARKING OF MAJOR COMPETITORS 75

FIGURE 26 GLOBAL V2X MARKET SHARE ANALYSIS, 2020 76

FIGURE 27 CONTINENTAL AG: FINANCIAL OVERVIEW SNAPSHOT 80

FIGURE 28 CONTINENTAL AG: SWOT ANALYSIS 81

FIGURE 29 INFINEON TECHNOLOGIES AG: FINANCIAL OVERVIEW SNAPSHOT 84

FIGURE 30 INFINEON TECHNOLOGIES AG: SWOT ANALYSIS 85

FIGURE 31 ROBERT BOSCH GMBH: FINANCIAL OVERVIEW SNAPSHOT 87

FIGURE 32 ROBERT BOSCH GMBH: SWOT ANALYSIS 88

FIGURE 33 DELPHI TECHNOLOGIES: FINANCIAL OVERVIEW SNAPSHOT 91

FIGURE 34 DELPHI TECHNOLOGIES: SWOT ANALYSIS 92

FIGURE 35 DENSO CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 94

FIGURE 36 DENSO CORPORATION: SWOT ANALYSIS 95

FIGURE 37 STMICROELECTRONICS NV: FINANCIAL OVERVIEW SNAPSHOT 97

FIGURE 38 NXP SEMICONDUCTORS: FINANCIAL OVERVIEW SNAPSHOT 100

FIGURE 39 QUALCOMM TECHNOLOGIES, INC.: FINANCIAL OVERVIEW SNAPSHOT 103

V2X Market

V2X Market is expected to reach up to 15 billion and register a 35% CAGR during forecast period 2021 - 2027

Segmentation

By Component Hardware Software
By Communication Type V2 C V2 D V2 G V2 P V2 V V2 I
By Propulsion Ev Ice

Key Players

  • STMicroelectronics NV
  • Denso Corporation
  • Delphi Technologies
  • Robert Bosch GmbH
  • Infineon Technologies AG
  • Continental A

Drivers

  • Growing demand for semi-autonomous cars that are equipped with advanced driver assistance systems
  • Rise in fuel consumption
  • wastage of time due to traffic congestion
  • Growing need for better traffic management
  • automobile safety features
  • Advancements in technology in automotive electronics like cloud technology that is used for vehicle platooning
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V2X Market Analysis:


Automotive V2X Market is projected to be worth USD 15 billion by 2028, registering a CAGR of 35% during the forecast period (2021 - 2027), The market was valued at USD 767 million in 2020., reveals the current Market Research Future (MRFR) report. The strong growth is due to the advances in 5G technology.


COVID-19 Analysis


The ongoing COVID-19 pandemic had a negative impact on the V2X market. Fall in customer footfalls at showrooms and shutdown of manufacturing plants has hindered the market growth. The lockdown and physical distancing trends has led to a fall in the sales of vehicles that in turn will impact the V2X market growth. The efforts and fast track strategies made by key manufacturers to overcome the huge loss can help in recovering the damage resulting from the pandemic that in turn will reinforce the supply chain as well as accelerate the global V2X market size. Besides most companies have offered the option of work from home, thus the increase in remote working options has declined the need for passenger cars as well as the market demand for modern connected vehicle technologies. Again the semiconductor industry is experiencing shortage in finished goods, components, and materials that is successively affecting the suppliers. Further, the auto industry is experiencing reduced vehicle sales worldwide and shutting down of production facilities that are seriously impacting the availability chains. However, with an aim to fight the deadly virus, suppliers and OEMs are reconfiguring the plant capabilities to supply PPE and medical equipment. Mahindra, for instance, aims in building personal ventilators while Ford in association with General Motors is manufacturing PPE surgical gear and ventilators.


Competitive Landscape


The global V2X market is highly fragmented and competitive in nature with the presence of several key players. These industry players have encompassed several strategies to widen their portfolios and also strengthen their position in the market such as acquisitions and mergers, partnerships and collaborations, extensive R&D, new product launches, and more.


Key Players


Prominent players profiled in the global V2X market report include STMicroelectronics NV, Denso Corporation, Delphi Technologies, Robert Bosch GmbH, Infineon Technologies AG, and Continental AG.


Market Dynamics



  • Drivers


Demand for Semi-Autonomous Cars to Bolster Market Growth


The growing demand for semi-autonomous cars that are equipped with advanced driver assistance systems is likely to bolster V2X market value over the forecast period. OEMs are putting in a lot of efforts to expand their autonomous vehicles.


Additional factors adding to the global automotive vehicle-to-everything market growth include the rise in fuel consumption, wastage of time due to traffic congestion, growing need for better traffic management and automobile safety features, growing technological advances, growing trend for connected cars, favorable government initiatives regarding traffic management, participation of different automotive manufacturers, rising pollution and vehicular congestion, and growing need for real-time traffic. Besides, incident alerts for public safety, increasing environmental concerns, high competition in the car manufacturing market, the need for lower fuel wastage, and rise in the use of electronics in cars due to digitalization are also adding market growth.



  • Opportunities


Technological Advances in Automotive Electronics to Offer Robust Opportunities


Advancements in technology in automotive electronics like cloud technology that is used for vehicle platooning is likely to offer robust opportunities to market players in the future.



  • Restraints


Dip in Car Sales to Act as a Market Restraint


The dip in the sales of cars during the COVID-19 pandemic may act as a market restraint in the forecast period.



  • Challenges


Security Issues to Act as a Market Challenge


Security of data communication coupled with the need for robust legal framework may act as major market challenges for market players in the future.


Market Segmentation


V2X Industry has been bifurcated based on Propulsion, Communication Type, and Component.


Hardware Segment to Lead V2X Market


By component, the global V2X market is segmented into software and hardware. Of these, the hardware segment will lead the market over the forecast period. It is likely to develop at a stellar 60.49% CAGR by 2026.


V2V Segment to Dominate V2X Market


By communication type, the global V2X market is segmented into V2I, V2V, V2P, V2G, V2D, and V2C. Of these, the V2V segment will dominate the market over the forecast period. It is likely to develop at a healthy 44.27% CAGR by 2026.


ICE Segment to Spearhead V2X Market


By propulsion, the global V2X market is segmented into ICE and EV. Of these, the ICE segment will spearhead the market over the forecast period. It is likely to develop at a whopping 56.48% CAGR by 2026.


Regional Analysis


Europe to Dominate V2X Market


The automotive V2X market geographically has been bifurcated into Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, Europe will dominate the market over the forecast period. Improved infrastructure facility that allows easy use of V2X, the presence of several top players, the automotive industry being governed by stringent safety and strict emission norms, blind-spot detection and adaptive cruise control that uses V2V communication to become absolute features, and growing adoption of semi-autonomous and autonomous cars are adding to the global V2X market share in the region. Besides, the growing adoption in England, France, and Germany, and the presence of several V2X communication manufacturers and automotive OEMs, are also adding market growth.


North America to Have Healthy Growth in V2X Market


In North America, the global V2X market is predicted to have healthy growth over the forecast period. The presence of several technologically advanced countries like Canada and the US, ease of technological adoption, the presence of one of the largest automotive markets, lower gas emissions and better traffic control, and increasing production of luxury cars in the US are adding to the global V2X market growth in the region.


APAC to Have Notable Growth in V2X Market


In the Asia Pacific region, the V2X market is predicted to have notable growth over the forecast period. Several favorable government initiatives for large-scale digitalization of urban infrastructure in India, South Korea, and China, constantly increasing smartphone penetration that is facilitating the increasing awareness associated to modern communication technologies, and rapid adoption and production of cars are adding to the global V2X market growth in the region. It is predicted to grow at a high CAGR by 2026.


Recent Developments



  • January 2021- EMnify has enabled smart V2X communication and traffic telematics research at TU Dresden. Their objective is in collecting and sending environmental, traffic, and vehicle data to the university research data center from an auto fleet using own data gathering devices. The ultimate goal is in post processing this data for uncovering new applications and valuable insights.

  • January 2021- CES 2021 ArcRAN has developed comprehensive cybersecurity solutions for V2X/IoT sites. The core functions of iSecV and iSecMaster that are based on machine learning algorithms include risk evaluation, attack simulation, and cybersecurity analysis.

  • The global certification forum together with the 5G automotive association has announced a partnership for supporting the drive for safety, reliability, and interoperability of emerging cellular vehicle to everything C-V2X systems.


Report Scope 


The V2X market report by Market Research Future throws light on the current trends and niches in the industry. The report also lays emphasis on the various market drivers, opportunities, market restraints, and challenges, as well as offers insights for the forecast period. It also throws light on the different market segments for a comprehensive understanding of the reader.


By Component



  • Hardware

  • Software


By Communication Type



  • V2C

  • V2D

  • V2G

  • V2P

  • V2V

  • V2I


By Propulsion



  • EV

  • ICE


By Region



  • North America

  • Europe

  • The Asia Pacific (APAC)

  • Rest of the World (RoW)



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2028: USD 15 billion
  • 2030 : Significant value
  •   CAGR   35% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2018
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Component, Communication Type, Propulsion
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   STMicroelectronics NV, Denso Corporation, Delphi Technologies, Robert Bosch GmbH, Infineon Technologies AG, and Continental A
      Key Market Opportunities   Advancements in technology in automotive electronics like cloud technology that is used for vehicle platooning
      Key Market Drivers

  • Growing demand for semi-autonomous cars that are equipped with advanced driver assistance systems
  • Rise in fuel consumption, wastage of time due to traffic congestion
  • Growing need for better traffic management and automobile safety features
  • Growing technological advances
  • Growing trend for connected cars, favourable government initiatives regarding traffic management, participation of different automotive manufacturers, rising pollution and vehicular congestion
  • Growing need for real-time traffic. Besides, incident alerts for public safety
  • Increasing environmental concerns, high competition in the car manufacturing market, the need for lower fuel wastage, and rise in the use of electronics in cars


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    Frequently Asked Questions (FAQ) :

    The global V2X is expected to record a substantial market valuation due to the increasing expansion of the automotive industry over the world

    The global V2X is projected to register a CAGR of 35% in the forecast period.

    The hardware segment is slated to expand as the fastest-growing segment.

    The ICE segment is slated to expand as the fastest-growing segment.

    A few major market players operating in the global V2X are Continental (Germany), NXP Semiconductors (Netherlands), Robert Bosch (Germany), Qualcomm (US), among others.