Automotive V2X Market Share Poised to Reach USD 65.81 Billion by 2032 Amidst Technological Advancements and Safety Initiatives

The Automotive V2X Market Share is expected to grow from USD 4.94 billion in 2024 to USD 65.81 billion by 2032, recording a staggering compound annual growth rate (CAGR) of 38.2% during the period of 2024 to 2032. The primary factors supporting this unprecedented growth include increasing demand for advanced safety features, growing penetration of autonomous vehicles, and considerable investments in smart infrastructure.



Drivers & Opportunities for Market Growth

With autonomous and connected cars being prepared for mass development and rollout globally, the demand for V2X communication, which helps vehicular communications with infrastructure and pedestrian, is witnessing unprecedented growth. In addition, to reduce road accidents, governments across the globe are introducing strict vehicle and road safety regulations and investing in intelligent transportation systems, which, in turn, has been a significant boost to the market development. Moreover, the emergence of V2X communication with 5G technology offerings is expected to utilize substantial revenue details depicting significant growth opportunities for the players in the industry.

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Segmentation Analysis

Automotive V2X Market is segmented based on communication types, vehicle types, connectivity, and regions.

by Communication Type: Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Device (V2D), Vehicle-to-Grid (V2G), Vehicle-to-Network (V2N) (millimeter wave, infrared, and others). V2V communication accounts for a large share of this, due to its ability to improve road safety by allowing vehicles to exchange information about speed, position and direction.

by Nature of Vehicles : The market is segmented on passenger and commercial vehicles. Market for passenger vehicle segment accounted for the largest share in 2020, due to rise in enabling V2X technologies in newer vehicles to enhance safety and driving experience.

by Connectivity: The market is segmented Type into Dedicated Short-Range Communication (DSRC) and Cellular-V2X (C-V2X). DSRC has been the tried-and-true technology, but C-V2X is rising because it provides better communication range and reliability—especially now that 5G networks are being deployed.

Country-Level Analysis

United States — The U.S. is spearheading the chase for V2X adoption due to government policies within the Intelligent transportation systems (ITS), and private partnerships between automotive and technology companies. Market Growth Factors Easy Market Entry of Key Players and Early Adoption of Vehicles by End-users

Germany as an automotive nation is engaged in a lot of V2X R&D. The increasing government initiatives to curb traffic congestions and improve road safety through technology is fueling the market growth.

China: Strong demand from government for smart transport infrastructure and high rate of urbanization are projected to boost the V2X market in the region. The nations leap towards becoming a frontrunner of autonomous vehicle tech only quickens the pace to V2X implementation.

Japan has its own strong emphasis in technological innovation while it is also a leading cultivator of Intelligent Transportation Systems which brings Japan as a major player of V2X. They are driving the development of the market, especially through partnerships between automobile manufacturers and technology businesses.

South Korea — Due to South Korea's high-level IT infrastructure and government initiatives towards misty city projects, the integration of V2X technologies is undergoing development which contributes towards a positive market outlook.

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Competitor Analysis

The Automotive V2X market is fragmented with the presence of players striving to achieve high market share through strategic initiatives.

Qualcomm Technologies, Inc.: A leader in wireless technologies, Qualcomm offers C-V2X solutions that enable direct communication between vehicles and infrastructure, enhancing safety and traffic efficiency.

NXP Semiconductors N.V.: NXP offers end-to-end V2X solutions, with DSRC-based chipsets that enable secure and reliable communications between vehicles and infrastructure.

Autotalks Ltd.: Autotalks is a leading provider of V2X communication solutions, with chipsets that support both DSRC and C-V2X to meet the diverse needs of automotive manufacturers.

Continental AG: Continental works on smart mobility solutions that include V2X technologies to enhance safety and efficiency on roads.

Robert Bosch GmbH: Bosch's V2X solutions complement vehicle safety systems helping to advance autonomous driving technologies.

The latest in the industry are collaborations between automotive and technology companies expedite V2X.Consumer Electronics ShowCES 2023 recently ended, bringing together several automobile companies to showcase their products. As an example, Qualcomm has collaborated with major automotive manufacturers to help enable C-V2X solutions in V2X capable next generation vehicles for the purpose of safety and level 4 and level 5 driver-assistance systems.

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Conclusion

The world Automotive V2X market is witnessing an outsized growth, owing to technological advancements, government regulations, and the demand for safer and more efficient transport systems. The continued innovation and collaboration between the key players is going to make that happen and widespread adoption of V2X will change the automotive landscape, making road idiot proof across globe.

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