The Global Automotive Vehicle-to-Everything (V2X) market is projected to grow at a rapid pace on account of the burgeoning demand for automobile safety features, rising customer inclination toward V2X, introduction of various government initiative for better traffic management and surging vehicle pollution. Moreover, escalating advancement in the 5G technology, burgeoning investment for the development of cellular-V2X communication along with improving infrastructure facilities among various countries and snowballing adoption of V2X-equipped vehicles are some of the factors placing a lucrative opportunity for the growth of the market in the forecast period.
According to MarkNtel Advisors’ research report “Global Automotive V2X Market Analysis, 2020”, the Global Automotive V2X market is anticipated to grow at a CAGR 45% during 2021-26F. Based on Communication Type, the Vehicle-2-Vehicle (V2V) communication segment acquired a significant market share in 2020. It is an integral part of V2X and V2N, nodes which include smart traffic signals, road sensors, and other V2I components. The improving vehicle safety, rising safety concerns among the individuals and government, increase in traffic accidents, congestion, and also alert the driver about an imminent hazard. Thus, these are fueling the growth of the segment.
“Global Automotive V2X Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Automotive V2X providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia Pacific Registers fastest Growth
Asia-Pacific is expected to register the fastest growth in the Global Automotive V2X market in 2019. The market growth of attributed to rising investment by the government in an intelligent transportation systems, burgeoning demand for efficient traffic management, and escalating demand for autonomous and semi-autonomous vehicles. Moreover, a significant surge in the number of road accidents, snowballing advancement in the technology in the field of automotive electronics and growing disposable income of people are some of the factors anticipated to bolster the growth of the Automotive V2X Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Automotive V2X Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Automotive V2X market are Continental AG, Delphi Automotive LLP, Qualcomm, Inc., NXP Semiconductors, Robert Bosch GmbH, TomTom International B.V, HARMAN International, Mobileye, Cisco Systems, Inc., Infineon Technologies AG, Denso Corporation, Autotalks Ltd., Cohda Wireless, Neusoft Corporation, Huawei Technologies Co., Ltd. etc.
Key questions answered in the study: