“Rising global demand for real-time traffic and incident alerts for increasing public safety to fuel the demand for V2X market”
The global V2X market is projected to grow at a CAGR of 17.61% from 2017 to 2025, to reach a market size of USD 99.55 billion by 2025 from USD 27.19 billion in 2017. The major factors driving the growth of the market are the increase in government funds for better traffic management and the development of connected vehicles. On the other hand, lack of infrastructure and additional cost burden on consumers may hinder the growth of the V2X market.
“V2V communication is estimated to show high growth potential”
The market for V2V communication is estimated to grow at the highest CAGR during the forecast period. Government initiatives to commercialize V2V communication are expected to drive the V2V market in North America. In 2014, the National Highway Traffic Safety Administration (NHTSA) announced steps to enable V2V communication for light vehicles, which would help improve safety.
“Better infrastructure and high income would drive the V2X market in North American region”
North America is estimated to account for the largest share, by value and volume, of the V2X market in 2017. However, the Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The largest share of North America in the automotive V2X market can be attributed to factors such as a huge demand for automobiles because of better infrastructure and high income, favorable policies and regulations by the government, and the need for a better and effective transportation system.
The study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The breakup of the primaries is as follows:
• By Company Type: Tier 1 – 45%, Tier 2 – 35%, OEM– 20%
• By Designation: C level – 35%, D level – 25%, Others – 40%
• By Region: North America – 40%, Europe – 30%, Asia Pacific – 25%, RoW – 5%
Major players profiled in the report are:
o Continental (Germany)
o Qualcomm (US)
o Delphi Automotive (UK)
o Infineon Technologies (Germany)
o Intel (US)
o NXP Semiconductors (Netherlands)
o TomTom (Netherlands)
o Harman International (US)
o Cohda Wireless (Australia)
o Autotalks (Israel)
o NVIDIA (US)
o Robert Bosch (Germany)
o Daimler (Germany)
o Audi (Germany)
The report segments the V2X market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and RoW), offering type (Hardware and Software), communication type (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Device (V2D), Vehicle-to-Grid (V2G), and Vehicle-to-Cloud (V2C)), connectivity type (Dedicated Short Range Communication (DSRC) and Cellular Connectivity), propulsion type (ICE and EV), and technology type (Automated Driver Assistance, Intelligent Traffic Systems, Emergency Vehicle Notification, Passenger Information System, Fleet & Asset Management, Parking Management System, Line of sight, Non-line of sight, Backing, and others).
Reasons to Buy the Report:
This report contains various levels of analysis, including industry analysis, competitive leadership mapping, and company profiles, which together discuss the basic views on the emerging and high growth segments of the V2X market; high-growth regions and countries; government initiatives; and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights into the following points:
• Market Penetration: The report offers comprehensive information about the V2X market and the top 14 players in the market.
• Product Development/Innovation: The report provides detailed insights into upcoming technologies and new product launches in the V2X market.
• Market Development: The report analyzes the market for V2X across regions and provides comprehensive information about lucrative emerging markets.
• Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the V2X market.