Automotive V2X Market Size, Share & COVID-19 Impact Analysis, By Connectivity Type (DSRC, Cellular), By Communication Type (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Others), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Unit Type (Onboard Unit, Roadside Unit) and Regional Forecast, 2021-2028

 Market Overview-

Pune, India, 18th August 2021: The global automotive V2X market size is anticipated to hit USD 7,351.9 million by 2028 from USD 628.9 million in 2021 and exhibit a CAGR of 42.1% during the forecast period. Automotive vehicle-to-everything enables vehicle-to-vehicle communication in real-time and enables vehicles to communicate with their surroundings. The growing demand for autonomous vehicles and the increasing digitization of vehicles are anticipated to fuel the market growth. Fortune Business Insights™ has presented this information in its report titled, “Automotive V2X Market, 2021-2028”. The market size stood at USD 529.6 million in 2020.

 

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COVID-19 Impact-

The global pandemic has significantly impacted the growth of several industries and markets. However, the demand for automotive V2X technology has augmented during the pandemic due to the need for autonomous vehicles to deliver supplies. The improved safety offered by autonomous vehicles augmented the demand for this technology and flourished the market growth. The investments in the future-mobility technologies made during the pandemic have supported the market’s growth. The market is anticipated to witness unprecedented growth in the coming years.

 

Report Coverage-

  • The report follows top-down and bottom-up approaches to market research.
  • The report provides vital information on different market segments; communication type, connectivity type, unit type, and others.
  • The report incorporates Porters’ Five Forces Analysis for an infallible market prediction.
  • The report evaluates the impact of the COVID-19 pandemic and suggests future growth strategies.

 

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Drivers & Restraints-

Increased Traffic Safety Benefits to Accumulate Growth for the Market

According to the report published by WHO in 2018 on road safety, more than 1.3 million fatalities occur every year due to vehicular traffic-related incidents. The V2X technology can help reduce these numbers as the technology can detect any potential threat and alert the driver accordingly. The increased traffic safety benefits through the employment of this technology are likely to boost the automotive V2X market growth.

Regional Insights-

Asia Pacific to Gain the Largest Share due to the Increasing Demand for Autonomous Vehicles

Asia Pacific is anticipated to hold the largest portion of the automotive V2X market share. China and Japan are projected to lead the technology development in Asia Pacific. The increasing demand for autonomous vehicles and the development of efficient V2X technology is anticipated to drive the market growth.

 

Competitive Landscape-

Key Players Partner Up to Deliver Smart Automotive Solutions & Garner Growth

The market is fairly competitive, and the key players in the market focus on the development of efficient V2X technology. To improve market positions and garner growth, the key players adopt ingenious growth strategies such as new product launches, technological developments, patents, partnerships, mergers, acquisitions, and others. Most recently, GM and Qualcomm Technologies extended their partnership in January 2021 to deliver automotive solutions to GM’s next-generation telematics systems, digital cockpits, and future advanced driver assistance systems.

 

Industry Developments-

  • November 2020: Subaru Corporation and Softbank Corp. successfully verified the world's first on-site merging vehicle assistance that uses Cellular V2X and 5G.

 

Key Players in this Market are:

  • Denso Corporation (Aichi, Japan)
  • Aptiv (Dublin, Ireland)
  • Infineon Technologies AG (Neubiberg, Germany)
  • Continental AG (Hanover, Germany)
  • Qualcomm Technologies, Inc. (San Diego, U.S.)
  • Autotalks Ltd. (Kfar-Netter, Israel)
  • Cohda Wireless (Wayville, Australia)
  • Kapsch TrafficCom (Vienna, Austria)
  • Savari Inc. (California, Inc)
  • Lear Corporation (Michigan, U.S.)
  • LG Electronics (Seoul, South Korea)
  • Ford Motor Company (Michigan, U.S.)
  • Robert Bosch GmbH (Gerlingen, Germany)
  • NXP Semiconductors (Eindhoven, Netherlands)
  • Harman International (Connecticut, U.S.)

 

 

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Table of Content

  1. Introduction

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions and Assumptions

  1. Executive Summary
  2. Market Dynamics

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

  1. Key Insights

4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships

4.2. Porter’s Five Forces Analysis

4.3. SWOT Analysis

4.4. Technological Developments

4.5. Value Chain Analysis

4.6. Impact of COVID-19 on Automotive V2X

10. Competitive Analysis

10.1. Key Industry Developments

10.2. Global Market Position Analysis (2020)

10.3. Competition Dashboard

10.4. Comparative Analysis – Major Players

10.5.  Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))

10.5.1. DENSO CORPORATION

10.5.2. Aptiv

10.5.3. Infineon Technologies AG

10.5.4. Continental AG

10.5.5. Qualcomm Technologies, Inc.

10.5.6. Autotalks Ltd.

10.5.7. Cohda Wireless

10.5.8. Kapsch TrafficCom AG

10.5.9. Savari Inc.

10.5.10. Lear Corporation

 

Continued. . .

 

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

 

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