Top Companies in the Automotive V2X Industry: Global Trends, Statistics, and Key Facts

 

Overview

Vehicle-to-everything (V2X) technology relies on sensors, cameras, and wireless connectivity to allow vehicles to interact with their drivers and surroundings through communication. Global Automotive V2X market is expected to grow from USD 0.6 Billion in 2023 to USD 38.49 Billion by 2033, at a CAGR of 51.61 % during the forecast period 2023-2033. The automotive V2X market is anticipated to be supported by government backing for C-V2X technology and enhancements in road infrastructure.

 

Competitive Landscape

Major players, such as Qualcomm Incorporated (US), Autotalks (Israel), Harman International (US), and Huawei Technologies Co., LTD, control the automotive V2X market. NXP Semiconductors is from the Netherlands, while China is the other country. These companies provide V2X automotive technology and possess robust global distribution networks. These companies have implemented broad expansion plans and engaged in collaborations, partnerships, and mergers & acquisitions to establish a stronger presence in the market. For instance, Autotalks unveiled its third-generation chipsets, TEKTON3 and SECTON3, designed to fulfill future V2X needs, in June 2022. These groundbreaking gadgets are the first in the world to provide support for 5G-V2X in Day 2 situations.

 

Pioneering Progress in V2G and V2X Technologies: Key Initiatives, Market Insights, and Asia Pacific’s Leading Role

Different programs are making progress in V2G (Vehicle-to-Grid) and V2X (Vehicle-to-Everything) technologies, expanding the limits of these advancements. Important initiatives involve trials and experimentation areas like the UK’s “Electric Nation” and California’s “EV Grid Integration,” which are vital in evaluating the potential and expandability of V2G technologies. Collaboration between companies like Nissan, Tesla, and BMW with energy providers is key in developing V2G-compatible vehicles and charging infrastructure. Furthermore, the advancement of specialized software platforms is improving these technologies; cloud-based systems are being more commonly utilized to oversee intricate data interactions, utilizing machine learning to enhance energy transactions and forecast vehicle availability. Together, these efforts help move forward V2G and V2X technologies, pushing for the merging of electric vehicles with energy systems and smart infrastructure. Furthermore, the Asia Pacific region dominated the automotive V2X market with a market share of USD 259.0 million in 2021. The main stakeholders involved in the advancement of vehicle-to-everything technology in this area are telecommunication technology providers and automotive OEMs. It is anticipated that Japan and China will be at the forefront of technological development in the Asia-Pacific region. In Chongqing, a pilot area in Yongchuan district spanning 20 square kilometers is experimenting with level 4 autonomous vehicles that are capable of driving autonomously for the majority of the time.

 

The report provides a summary of the global top trends and future prospects for the global Automotive V2X market based on historical data sets (current trends, industry statistics, and emerging trends shaping the Automotive V2X industry’s future, preliminary estimates from 2020-2021, 2022, and 2023), as well as projections for the global automotive V2X trends and future prospects for global regions in 2024 and 2025. This data-driven research offers users an industry-wide view of emerging technologies and innovative insights to help them make critical business decisions. 

 

Growth Factors and Emerging Trends in the Automotive V2X Market

 

1. Growing need for cutting-edge technologies to tackle vehicle safety issues.

Recently, the increasing numbers of road accidents and deaths have heightened the worldwide focus on using advanced technologies to tackle and reduce safety issues on the road. In light of this pressing need, V2X technology has emerged as a game-changing solution with the ability to greatly improve road safety. V2X enables instant communication among vehicles, with surrounding infrastructure, pedestrians, and other road users. This network of connections allows vehicles to share important data about where they are, how fast they are going, and any possible dangers, which helps prevent accidents and collisions by detecting hazards in advance. Self-driving cars use vehicle-to-vehicle communication to exchange data on speed, direction, and plans, thereby improving safety in different maneuvers. Consistent communication enables self-driving cars to prevent crashes and improve routes in advance. V2I interaction offers traffic updates and road conditions, helping optimize routing and decrease congestion.

 

1. Market growth will be propelled by the advantages of traffic safety.

As per a report from WHO concerning road safety, over 1.3 million deaths occur annually due to traffic accidents. Research from the U.S. Department of Transportation (DOT) suggests that vehicle-to-everything technology can decrease road accidents by 80%. By identifying unseen objects and warning the driver, it has the potential to minimize fatalities caused by traffic accidents. For example, a V2X system in a car could warn the driver of the car behind them ahead of time if it senses the car in front suddenly slowing down while going around a corner, preventing a collision. Based on U.S. DOT estimates, vehicle-to-everything technology could prevent over 1,000 fatalities annually and decrease 2.3 million non-fatal injuries. As a result, these factors will enhance the market's expansion.

 

Opportunities and Future Prospects in the Automotive V2X Market

 

Economic Growth Enhanced by Vehicle-To-Everything Leading to Cost Savings.

Traffic jams in Europe result in a financial loss of approximately $109 billion each year. There are huge potential economic savings with a transportation system that is safer and more efficient. The U.S. Department of Transportation estimates that every year, approximately $871 billion could be saved in the U.S. through the use of automotive V2X technology. Road closures lead to delays in the supply chain, raising the complexity and cost of operations, and reducing productivity. This technology can detect factors that cause congestion ahead of time, allowing vehicles to respond accordingly. By integrating real-time data with simulation models, more efficient routes can be found to enhance speed during rides. The growing need for vehicle-to-everything in the automotive sector is caused by these factors.

 

List of Key Companies in the Automotive V2X Market

• Denso Corporation
• Aptiv
• Infineon Technologies AG
• Continental AG
• Qualcomm Technologies, Inc.
• Autotalks Ltd.
• Cohda Wireless
• Kapsch TrafficCom
• Savari Inc.
• Lear Corporation
• LG Electronics
• Ford Motor Company
• Robert Bosch GmbH
• NXP Semiconductors
• Harman International
• Others

 

Top 5 Key Players Profile in Automotive V2X Market

 

1. CONTINENTAL

 

Headquarters: Hanover

Continental AG, based in Hanover, Germany, is a top player in automotive technology and manufacturing worldwide. Established in 1871, Continental is famous for its extensive knowledge of various automotive parts, such as tires, brakes, powertrains, and advanced driver assistance systems (ADAS). The company functions with multiple divisions, each specializing in various areas of automotive technology and mobility solutions. Continental is widely known for its pioneering advancements in safety systems, connectivity solutions, and autonomous driving technologies, making significant contributions to the advancement of intelligent and environmentally friendly transportation. Continental consistently pushes the limits of technology to address the changing demands of the automotive industry with a focus on research and development. The company's commitment to advancing progress and offering innovative solutions in the automotive industry is shown through its global presence, which includes multiple facilities and partnerships around the world.

 

2. QUALCOMM

 

Headquarters: San Diego, CA

Qualcomm Incorporated, headquartered in San Diego, California, is a top technology company globally recognized for its innovations in semiconductor and telecommunications technology. Since its founding in 1985, Qualcomm has been a leader in the advancement of mobile communication technologies, notably with its Snapdragon processors and 5G connectivity solutions. The company has a wide range of knowledge in various fields, such as wireless technologies, the Internet of Things, automotive solutions, and artificial intelligence. Qualcomm's advancements enhance the functions and features of cell phones, tablets, and other interconnected gadgets, positioning it as a key player in the worldwide tech industry. By prioritizing research and development, Qualcomm remains at the forefront of creating advanced technologies that improve connectivity and computing experiences. The extensive patent portfolio and strategic partnerships of the company highlight its importance as a key facilitator of technological advancement and industry change.

 

3. COHDA WIRELESS

 

Headquarters: Wayville, SA

Cohda Wireless is a well-known Australian technology firm that specializes in advanced communication solutions for vehicles. Established in Adelaide in 2004, Cohda Wireless specializes in creating and implementing Vehicle-to-Everything (V2X) communication technologies, vital for improving road safety and facilitating autonomous driving. The company is well-known for its advanced V2X solutions, which include DSRC and C-V2X systems enabling immediate data sharing among vehicles, infrastructure, and other road users. Cohda Wireless partners with car makers, tech companies, and government bodies to promote V2X technology and enhance intelligent transportation systems in the future. Their dedication to creativity and excellence establishes them as a key player in the advancement of connected vehicle solutions, making a substantial impact on the progress of intelligent mobility and road safety.

 

4. NXP SEMICONDUCTORS

 

Headquarters: Eindhoven, Noord-Brabant

NXP Semiconductors, based in Eindhoven, Netherlands, is a top semiconductor company worldwide. Founded in 2006 as a branch of Philips, NXP focuses on creating and producing cutting-edge semiconductor solutions for various industries such as automotive, industrial, IoT, and mobile. The company is well-known for its advancements in automotive electronics, providing modern solutions like advanced driver assistance systems (ADAS), in-car infotainment, and vehicle-to-everything (V2X) communication technologies. NXP's wide range of products consists of microcontrollers, processors, sensors, and secure connectivity solutions that play a crucial role in powering intelligent, connected devices and systems. By prioritizing research and development, NXP strives to advance technology and provide strong semiconductor solutions for its customers worldwide. The company's dedication to innovation and quality establishes it as a major influencer in shaping the future of electronic and automotive technologies.

 

5. HARMAN INTERNATIONAL

Headquarters: Stamford, Connecticut

HARMAN International, a company entirely owned by Samsung Electronics, is a top worldwide supplier of connected technologies and solutions for the automotive, consumer, and enterprise sectors. Established in 1980 and based in Stamford, Connecticut, HARMAN is widely known for its specialization in automotive infotainment systems, connected car solutions, and high-quality audio systems. The company provides various cutting-edge products such as ADAS, infotainment systems, and audio solutions under popular brands like JBL, AKG, and Harman Kardon. HARMAN's technologies play a crucial role in improving the driving experience, offering top-notch connectivity, and delivering premium audio experiences. Dedicated to advancing connected experiences through innovative solutions and strategic partnerships, HARMAN emphasizes innovation and integration. The company's worldwide reach and prominent position highlight its importance in shaping the future of interconnected technologies and intelligent transportation.

 

Recent Developments

 

• In October 2023, Huawei revealed a complete set of solutions for 5.5G in the industry. This solution is predicted to speed up the progress of V2X services, aiding in the development of smart transportation systems.

 

• In February 2023, During the Mobile World Congress (MWC) in Barcelona on February 27, 2023, Qualcomm introduced its new 5G modem-RF platform for connected cars. Qualcomm Technologies' Snapdragon Digital Chassis connected car technology portfolio includes the recent addition called Snapdragon Auto 5G Modem-RF Gen 2. This platform brings significant improvements in 5G technology, with a focus on enhancing in-car broadband connectivity and providing new support for satellite communications within vehicles.

 

• In October 2022, During the OktoberTech Asia-Pacific 2022 Technology Forum in Singapore hosted by Infineon, VinFast and Infineon Technologies AG, the top player in automotive semiconductor solutions, revealed their decision to prolong their collaboration, making VinFast the first global producer of intelligent electric vehicles in Vietnam. To speed up VinFast's progress in creating future smart mobility solutions, the two companies will set up a joint application competence center in Hanoi, specifically concentrating on electromobility.

 

• In July 2022, Autotalks unveiled its TEKTON3 and SECTON3 chipsets, the third generation specifically designed to fulfill the forthcoming V2X needs. These new gadgets are the first of their kind in the world to support 5G-V2X for Day 2 situations.

 

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