Forecast 2023–2030: Vehicle-to-everything Industry Share, Competitive Environment, and Higher Growth Rate
High Tidustries • 12.09.2023 • Legal advice
In a new report published by industry Research Future (MRFR), the global Vehicle-to-everything (V2X) industry is predicted to grow significantly between 2022 and 2030, with a 35%CAGR in market value. The phrase "vehicle-to-everything," or V2X, refers to communication between a vehicle and other nearby items, such as other automobiles, pedestrians on the street, infrastructure, and the cloud. This communication may be facilitated by a variety of technologies, including as cellular networks, dedicated short-range communications (DSRC), and Wi-Fi. V2X technology has the ability to make driving more enjoyable, reduce traffic, and improve traffic safety. Vehicle-to-vehicle communication (V2X), for example, might make it possible for vehicles to "talk" to one another in order to warn of potential collisions, provide real-time traffic information, and plan routes around congestion.
Among the companies creating V2X technology are automakers like BMW, Ford, and Volkswagen as well as technology companies like Qualcomm, Intel, and Huawei. These companies are developing V2X systems, which enable communication between vehicles and their surroundings via a variety of communication channels, such as cellular networks and DSRC. V2X technology has the potential to completely transform the way we interact with our environment and drive, making it safer, more efficient, and more enjoyable to use our roads.
Competitive Analysis
According to MRFR, the leading companies in the global Vehicle-to-everything (V2X) market are NXP Semiconductors (Netherlands), Continental (Germany), Delphi Automotive (U.K.), Qualcomm (U.S.), and Robert Bosch (Germany).
Sectoral Analysis
The global market for Vehicle-to-everything (V2X) has been evaluated based on propulsion, communication mode, and component type. Based on the communication technique, the Vehicle-to-everything (V2X) market has been segmented into V2C, V2V, V2G, V2P, V2D, and V2I categories. Based on component type, the Vehicle-to-everything (V2X) sector has been split into two groups: Hardware and Software. Based on the kind of propulsion, the global Vehicle-to-everything (V2X) market has been split into E.V. and ICE segments.
Locational Overview
Geographically speaking, studies of the Vehicle-to-everything (V2X) market have been conducted in North America, the Middle East and Africa, Asia Pacific, Europe, and Latin America.
Furthermore, the Asia Pacific region is one of the largest V2X regional markets in the world and is anticipated to hold onto a considerable market share during the duration of the research. The Vehicle-to-everything (V2X) industry is now developing in the Asia Pacific region. The region's expanding vehicle manufacturing is one of the main factors driving the market's rise. The improvement of infrastructure and the rise in living conditions in this region have benefitted the car industry as a whole. Increasing The availability of vehicle electrification in the Asia Pacific region is also anticipated to have a positive impact on the business for vehicle-to-everything (V2X). The Asia Pacific region's access to cheap labor has had a huge influence on the vehicle-to-everything (V2X) industry. In addition, it is anticipated that the rapidly developing automotive infrastructure in the area will provide the framework for the industry's rapid expansion.
North America and Europe are the other two key regions, mostly because of the substantial vehicle industry on these two continents. The presence of primary producers in the developed economies of these regions is a major driving force behind the Vehicle-to-everything (V2X) industry. Due to increased investment in research and development, producers in this field may create novel procedures and products to benefit from impending market trends.
The automotive industries in Latin America and the Middle East are at a promising stage, which creates favorable conditions for the growth of the Vehicle-to-everything (V2X) industry. The market for Vehicle-to-everything (V2X) is predicted to grow gradually over the time under study. These places are anticipated to be profitable in the near future as a result of various automakers boosting their expenditures to capitalize on the high demand in these regions.