Automotive V2X Market 2020-2030: Vehicle to everything (V2X) is a technology, which transmits the information related to a vehicle to its neighboring vehicle or any obstacles such as a pedestrian, a building and even a vehicle out of sight. V2X technology helps increase the road safety by major technological improvements such as intelligent transport system (ITS) which helps in efficient traffic management. Vehicles those are semi-autonomous and running alongside each other are likely to lead to accidents as they will not be able to detect a human-driven vehicle. Thus, the growing demand for semi-autonomous vehicles that are installed with advanced driver assistance systems (ADAS) is projected to further boost the automotive V2X market.
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Market scope and structure analysis:
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value (USD)|
|Segments covered||Offering, Communication, Propulsion, Connectivity, Technology, Vehicle Type, Unit Type, and Region|
|Regions covered||North America (the U.S. and Canada), Europe (Germany, the U.K., France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and the Middle East & Africa|
|Companies covered||Delphi Automotive PLC, Continental AG, Infineon Technologies AG, Qualcomm Inc., Arada Systems, Volkswagen AG, Toyota Motor Corporation, General Motors Company, Daimler AG, and BMW Group.|
COVID-19 scenario analysis:
- The pandemic has had a negative impact on the global automotive vehicle to everything market size for the year 2020 due to falling business confidence, a major deviation is noticed in the growth of automated vehicle manufacturers due to coronavirus.
- As the governments all over the world have declared lockdowns over the past few months, the demand and supply cycle of many automated vehicle manufacturers is vulnerable.
- Majority of automotive vehicle to everything manufacturers are facing issues such as closure of factories and unavailability of workforce due to the lockdowns which further affects the production of automated car as well.
- Global automotive vehicle to everything is an evolving sector which is hampered due to coronavirus, because of which all type of production and installation across the affected countries had been shut down & all operations were disrupted due to the pandemic.
- The vendors in V2X industry across the globe is being affected severely due to the restrictions on producers as well as the declared lockdowns which in turn affecting the global automated vehicle manufacturers worldwide.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increase in demand for fully autonomous driving & safe vehicles and rise in concerns over environmental pollution caused by vehicles are driving the growth of the market. However, reliability challenges such as dependence on artificial intelligence (AI) is expected to hamper the growth of the market. Contrarily, increase in support from government for V2X technology and advancements in 5G technology can be seen as an opportunity for the market investments.
The automotive vehicle to everything market trends are as follows:
Increase in concerns over environmental pollution caused by vehicles
Autonomous vehicles (AV) can significantly cut down greenhouse gas & carbon discharge from the environment and move towards a pollution as well as carbon free economy. AVs will help in reducing the traffic congestions on the road, using artificial intelligence (AI) to plan efficient routes to travel due to which the pollution level will decline. Furthermore, vehicles will communicate with each other using V2X technology because of which their neighboring vehicles will drive more smoothly. Therefore, growing concerns regarding pollution will boosts the growth of the automotive V2X market.
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Key segments covered:
Key benefits of the report:
- This study presents the analytical depiction of the V2X industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive vehicle to everything market.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the automotive vehicle to everything market growth scenario.
- We can also determine V2X will remain a significant revenue shareholder in the global automotive vehicle to everything market through the predictable future.
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Questions answered in the global automotive vehicle to everything market research report:
- Which are the leading market players active in the automotive vehicle to everything market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
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