V2X automotive market growth will be at a high rate of 38%
LONDON, December 14, 2021 (GLOBE NEWSWIRE) – According to The Business Research Company’s research report on the V2X automotive market, the global V2X automotive market is expected to grow from $ 517.31 million in 2020 to $ 619.42 million in 2021 at a compound annual growth rate (CAGR) of 19.7%. The growth of the V2X automotive market is primarily driven by companies resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving the social distancing, remote working and the shutdown of business activities which have resulted in operational challenges. V2X automotive market is expected to reach $ 2,258.04 million in 2025 at 38.2% CAGR.
The Automotive V2X market comprises the sales of Automotive V2X technologies by entities (organizations, sole proprietorships, and partnerships) that are primarily used to increase safety and prevent collisions. Vehicle to Everything (V2X) is a communication system used in a vehicle that supports the exchange between a vehicle and moving components of the traffic system that may impact the vehicle. Technology improves traffic efficiency by advising drivers to approach traffic, providing alternative routes to avoid traffic, and identifying unoccupied parking spaces.
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The main types of technologies in V2X automotive are Emergency Vehicle Notification, Automated Driver Assistance, Passenger Information System, Line of Sight, others, with various connectivity such as DSRC, cellular. Emergency vehicle notification technology provides an emergency vehicle notification system which is a method for notifying traffic of an approaching emergency vehicle. The different types of vehicles include passenger cars and commercial vehicles. The different types of communications involved in automotive V2X are vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), vehicle-to-network (V2G), vehicle-to-cloud (V2C) and vehicle to device (V2D).
North America was the larger region in the V2X automotive market in 2020. Asia Pacific should be the fastest growing region in the forecast period. The regions covered by the V2X Automotive Market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Business Research Company report Automotive V2X Global Market Report 2021 – By Technology (Emergency Vehicle Notification, Automated Driving Assistance, Passenger Information System, Line of Sight), By Vehicle Type (Passenger Cars) tourism, commercial vehicles), by connectivity (DSRC, cellular), by communication (vehicle to vehicle (V2V), vehicle to infrastructure (V2I), vehicle to pedestrian (V2P), vehicle to network (V2G), vehicle to cloud (V2C) ), Vehicle-To Device (V2D), COVID-19 Growth And Change Covers Major V2X Automotive Companies, V2X Automotive Market Share by Company, V2X Automotive Manufacturers, V2X Automotive Market Size, and V2X Automotive Market Forecast The report also covers the global V2X automotive market and its segments.
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Growing technological advancements such as LTE-V2X technology are a key trend that is gaining popularity in the V2X automotive market. LTE-V2X technology is an innovative information and communication technology used in road transport systems to enable the exchange of information between vehicles, humans, networks and infrastructure. Large companies operating in V2X automotive sector are focusing on developing LTE-V2X technology to strengthen their position. For example, in 2019 Qualcomm, a US semiconductor company, released a Snapdragon Automotive 4G platform, which is a 6th generation multimode LTE modem with built-in V2X technology used for automotive vehicles. Vehicle-to-vehicle (V2V) and vehicle-to-road infrastructure (V2I) communications for security, high-bandwidth, low-latency remote operations, precise location, and multi-gigabit cloud connectivity are all benefits of these platforms. -forms.
In February 2021. Harman International, a United States-based company specializing in automotive connected devices in customer and enterprise markets, acquired the assets of Savari, Inc. for an undisclosed amount. With the acquisition of Savari, Harman International aims to improve its automotive telematics and advanced driver assistance systems (ADAS) linked to the v2x automotive market, and to extend the qualities of the organization in 5G Edge, Multi-Access Edge Computing (MEC). Savari is a US-based automotive innovation company that creates new technologies in the Vehicle-to-Everything (V2X) and 5G Edge technology markets.
The major players in the V2X automotive industry are Autotalks Ltd., Continental AG, Denso Corporation, Harman International, Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies Inc., Robert Bosch, Cohda Wireless, STMicroelectronics, TE Connectivity Ltd., Qorvo Inc ., Ford Motor Company, Danlaw Inc. and Amphenol Corporation.
Global Automotive V2X Market Report 2021 – Growth and Change COVID-19 is part of a series of new reports from The Business Research Company that provide insights into the Automotive V2X market, analyze the Automotive V2X market, and forecast the size and growth The market for the overall market, Automotive V2X market segments and geographies, Automotive V2X market trends, Automotive V2X market drivers, Automotive V2X market restraints, Revenue, profiles and market share for the major competitors of the Automotive V2X market in over 1,000 industry reports, covering over 2,500 market segments and 60 geographic areas. The report also gives an in-depth analysis of the impact of COVID-19 on the market.
The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.
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