Global Automotive V2X Market Insights Forecasts to 2033

• The Global Automotive V2X Market Size was Valued at USD 0.6 Billion in 2023
• The Market Size is Growing at a CAGR of 51.61% from 2023 to 2033
• The Worldwide Automotive V2X Market Size is Expected to Reach USD 38.49 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Automotive V2X Market Size is Anticipated to Exceed USD 38.49 Billion by 2033, Growing at a CAGR of 51.61% from 2023 to 2033.

Market Overview

Vehicle-to-everything (V2X) technology enables a vehicle to connect with other vehicles, road users, and infrastructure. The primary goal of V2X technology is to increase road safety, energy efficiency, and traffic flow on roads. Vehicle-to-everything (V2X) technology provides real-time communication between the vehicle and its surroundings. Vehicle-to-vehicle, vehicle-to-pedestrian, and vehicle-to-infrastructure are some of the application cases. This technology allows automobiles to communicate with one another and with the surrounding infrastructure, which aids in autonomous driving, traffic flow optimization, and road safety. This heightened situational awareness allows for more connected and intelligent solutions. The global automotive V2X market is expanding rapidly, driven by rising demand for improved road safety, effective traffic management, and the development of self-driving technology. As urbanization grows and traffic congestion becomes a significant issue, V2X technology provides a solution by allowing real-time communication between automobiles, infrastructure, pedestrians, and other road users, hence assisting market expansion.

Report Coverage

This research report categorizes the market for the global automotive V2X market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global automotive V2X market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global automotive V2X market.

Driving Factors

The market is predicted to rise due to factors such as increased usage of connected cars, as well as fast urbanization and industrialization. In contrast, the future potential of 5G and AI technology, together with breakthroughs in V2X cellular technology (C-V2X) and developments in autonomous and semi-autonomous cars, are likely to present attractive chances for V2X growth during the forecast period. Increased usage of C-V2X will boost growth. Various governments and regulatory agencies throughout the world recognize V2X technology's potential to change transportation and improve road safety. As a result, they are implementing policies and regulations to encourage the use of V2X systems. These initiatives frequently involve collaborations among vehicle manufacturers, infrastructure providers, and technology companies to develop standardized communication protocols and ensure compatibility. Concurrently, governments are mandating the incorporation of V2X technology in new automobiles in an effort to hasten its acceptance.

Restraining Factors

Massive setup expenditures for test tracks, real cars, and the infrastructure needed for testing are some of the difficulties encountered in automotive V2X testing. In addition, configuring millions of scenarios for high-density traffic is practically difficult and expensive.

Market Segmentation

The global automotive V2X market share is classified into connectivity type, and communication type.

• The cellular segment is expected to hold the largest share of the global automotive V2X market during the forecast period.   

Based on the connectivity type, the global automotive V2X market is divided into DSRC, cellular, and others. Among these, the cellular segment is expected to hold the largest share of the global automotive V2X market during the forecast period. The upcoming C-V2X technology enables vehicles to connect directly with one another and with road infrastructure via cellular networks. C-V2X uses 5G wireless technology to provide vehicles with real-time safety notifications about road conditions and obstructions. This helps to prevent accidents by delivering early warnings of severe braking, traffic bottlenecks, and other potentially dangerous situations ahead.

• The vehicle-to-vehicle (V2V) segment is expected to grow at the fastest CAGR in the global automotive V2X market during the forecast period.   

Based on the communication type, the global automotive V2X market is divided into vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), and Others. Among these, the vehicle-to-vehicle (V2V) segment is expected to grow at the fastest CAGR in the global automotive V2X market during the forecast period. Vehicle-to-vehicle (V2V) communication enables vehicles to exchange information using dedicated short-range communications (DSRC) technology. V2V allows vehicles to broadcast their location, speed, direction, and other information many times per second. Nearby vehicles equipped with V2V technology can receive this data and use it to offer drivers with forward collision and lane change alerts.

Regional Segment Analysis of the Global Automotive V2X Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global automotive V2X market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global automotive V2X market over the predicted timeframe. The Asia Pacific automotive V2X market is being driven by strong expansion in the automobile industry, increasing urbanization, and technological advancements. Concurrently, the region's heavily populated urban areas are dealing with increasing traffic congestion and road safety concerns, making V2X technology a tempting alternative for addressing these issues. Furthermore, governments around Asia Pacific are focusing on improving transportation infrastructure and implementing smart city programs, creating a favorable climate for the incorporation of V2X technologies. Furthermore, the region's dominant position in electronics and telecoms production provides a solid platform for the development and implementation of V2X communication technologies. As Asia Pacific leads in electric car adoption, V2X integration facilitates charging infrastructure optimization and grid control, hence accelerating market growth.

North America is expected to grow at the fastest pace in the global automotive V2X market during the forecast period. North America is predicted to have stronger demand for automotive V2X systems than other areas because it is home to developed countries such as the United States, Canada, and Mexico. The market is being driven by the development of IoT and other information, communication, and technology, particularly in autos, as well as government initiatives for their introduction and integration. The key reasons influencing the growth of the North American automotive V2X market are the demand for intelligent mobility and user concern for the environment. The industry is predicted to benefit greatly from investments in new smart city projects and fleet management innovation across various transportation modes.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global automotive V2X market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Autotalks Ltd
• Altran
• HARMAN International
• Continental AG
• NXP Semiconductors
• Infineon Technologies AG
• Robert Bosch GmbH
• Qualcomm Technologies, Inc.
• STMicroelectronics
• Savari, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2021, Brandmotion LLC, an automotive safety technology business, established a partnership with DENSO Products and Services Americas to provide a one-stop shop for cities looking to outfit their vehicles with advanced V2X technology.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global automotive V2X market based on the below-mentioned segments: 

Global Automotive V2X Market, By Connectivity Type

• DSRC
• Cellular
• Others

Global Automotive V2X Market, By Communication Type

• Vehicle-to-Vehicle (V2V)
• Vehicle-to-Infrastructure (V2I)
• Vehicle-to-Pedestrian (V2P)
• Others

Global Automotive V2X Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa