Automotive V2X Market is Forecasted to Reach US$2.3 Billion in 2031, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global automotive V2X market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics

Market Size in 2024: US$0.5 billion

Market Size in 2031: US$2.3 billion

Growth (CAGR): 25.1% during 2024-2031

Leading Technology Type: DSRC

Leading Communication Type: Integrated V2X

Leading Region: Europe

Forecast Period: 2024-2031

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 3

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Automotive V2X Market:

The global automotive V2X market is segmented based on Technology type, Communication type, and Region.

Based on Technology Type –

·      The automotive V2X market is segmented into DSRC and C-V2X. DSRC (Dedicated Short-Range Communications) has been dominant in Europe and was also widely used in the USA by 2023. However, from 2024 onward, C-V2X (Cellular V2X) is expected to take over in the USA due to the FCC agreement in April 2023, which approved the deployment of C-V2X technology for connected vehicles.

·      Europe continues to rely on DSRC, but the shift towards C-V2X is gaining traction globally, especially with advancements in 5G networks. C-V2X is rapidly gaining popularity and widespread adoption due to its better range, higher bandwidth, lower latency, cost efficiency, 5G compatibility, and strong support from the automotive and telecom industries.

Based on the Communication Type –

·      The market is segmented into V2V & V2I and integrated. Integrated V2X is likely to remain the dominant communication type of the market over the next six years.

·      V2V stands for vehicle-to-vehicle communication. It is a key component of V2X that enables direct communication between vehicles to enhance road safety and traffic efficiency. In V2V communication, vehicles share information about their location, speed, direction, and other relevant real-time data to avoid accidents and make driving safer and more efficient. The integrated communication type includes Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), and Vehicle-to-Network (V2N) communication types.

·      Integrated V2X (V2V, V2I, V2P, and V2N) provides more comprehensive, real-time, and future-proof solutions. It ensures broader connectivity, enhances road safety, supports autonomous vehicles, optimizes traffic flow, and leverages 5G for real-time data exchange.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Europe is expected to remain the largest market for automotive V2X during the forecast period. This growth outlook is majorly attributed to the following–

-         Europe’s strict safety regulations, early DSRC adoption, strong smart city investments, leadership in automotive innovation, and growing 5G-based C-V2X deployment are key factors driving its dominance in the automotive V2X market.

-         The presence of key automakers, such as Volkswagen, BMW, Mercedes-Benz, Audi, and Volvo, are pioneers in V2X adoption; partnerships with telecom and tech firms push C-V2X and 5G-based deployments in the region.

Likewise, the Asia-Pacific is likely to experience rapid growth in the automotive V2X market owing to key factors, such as strong government initiatives & regulations; the largest automotive market with China, India, and Japan being the leading vehicle producers; increasing demand for connected and autonomous vehicles; rising investment in smart city and intelligent transportation infrastructure; and increasing consumer focus on safety and advanced driving features.

Automotive V2X Market Drivers:

Some of the key drivers listed in the report are given below.

-         Growing demand for connected and autonomous vehicles is fueling massive expansion.

-         Increasing safety concerns and stricter emission regulations are pushing automakers toward V2X adoption for enhanced road safety and environmental compliance.

-         Government support for smart infrastructure initiatives and regulatory frameworks are significantly accelerating market growth with substantial public investments.

-         Rapid 5G network deployment enables real-time, high-bandwidth, low-latency V2X communications essential for advanced driver assistance systems.

-         Rising integration of advanced driver assistance systems (ADAS) in passenger vehicles is driving demand as automakers focus on enhanced safety and passenger experience.

Top Companies in the Automotive V2X Market:

The global market for Automotive V2X is highly concentrated, with the top four companies capturing a lion’s share. Apart from technological expertise and financial capabilities, the growth of companies is directly dependent on government support and overall industry conditions. Stratview Research has identified the following companies as the top market players:

-         Harman International (A Samsung Company)

-         LG Electronic Vehicle Solution

-         NXP Semiconductor

-         JOYNEXT

-         Robert Bosch GmbH

-         DENSO Corporation

-         Continental AG

Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the automotive V2X market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to make convincing business decisions.

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