The report of Automotive V2X MarketBy Communication(Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Grid (V2G), Vehicle-to-Cloud (V2C)), By Propulsion Type (IC Engine, Electric, Hybrid), By Offering(Hardware, Software, Other Offering), By Technology (Automated driver assistance, Intelligent traffic systems, Emergency vehicle notification, Passenger information system, Other) and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ xxMn by 2027, at a CAGR of 24% during a forecast period.
Automotive (V2X) is a technology termed as Vehicle to everything which will increase road safety by utilizing advanced automotive electronics technology. Intelligent transport systemand efficient traffic system is main concept for development of V2X technology. Near vehicle communication is enabled by V2X technology, any obstacles such as infrastructure, pedestrian, and even out of sight vehicle in a traffic or congested area is informed to driver.
The rapid expansion of automotive sector across global level is anticipated to drive the automotive V2X market over the forecast period. Increasing semi-autonomous vehicle market is rising demand for advanced driver assistance systems (ADAS) in vehicle and the OEMs are increasing their efforts in development of autonomous vehicles is anticipated to propel the automotive V2X market in forecasted period.Global Automotive V2X Market: Fuel Type
By vehicle type Global Automotive V2X Market is segmented into IC engine, Electric and Hybrid. The IC engine dominate the global market. However, the governments are promoting use of clean fuel thus the electric vehicle and Hybrid vehicle market is increasing. The Hybrid Vehicle is getting popular now days and expected to keep this growth in the forecast period. This expected to drive Global Automotive V2X Market.
Global Automotive V2X Market: Vehicle type
By Vehicle type, passenger vehicle is dominating the Global Automotive V2X Market, and expected to maintain its dominance in forecasted period. Moreover, the commercial vehicle sector is growing significantly, according to OCIA, commercial vehicle sales increased over 6% from last few years, and expected to boost the market.
Global Automotive V2X Marketby offering type, into software and hardware. The software segment is expected to grow in future marketwith significant growth rate over the forecast period.
Global Automotive V2X Market: Drivers
Increasing number of road accidents and public safety concerns is increasing the need for advance technology. Government also supportingthe traffic management improvementwhich is expected to propel the automotive V2X market. V2X technologies help in avoiding traffic-congestion and reduce fuel consumption and vehicular emissions. Technological advancements in automotive electronics are likely to fuel the automotive V2X market during the forecast period.
Global Automotive V2X Market: Regional Overview
By region, Global Automotive V2X Market is segmented Asia Pacific, North America, Europe, South America and Middle East & Africa. The Europe is the major region in progress of new technology in automotive industry. New players are emerging in market and ready to invest in this region. Therefore, the region is showing growth in market forAutomotive V2X market. North America region is showing demand of advance automotive technologies and spend significant amount in research and development, this expected to maintain this growth in the forecast period. Asia Pacific region is expected to be the major market for the growth of Automotive V2X Market. The Asia Pacific region is also showing growth in electric vehicle expected to grow at faster rate in the forecast period. The above-mentioned factors are propelling the growth of Global Automotive V2X Market.
Key players operating in the Automotive V2X MarketareRobert Bosch GMBH, Continental AG, Qualcomm Technologies, Inc., Autotalks Ltd., Delphi Technologies, NXP Semiconductors N.V., Infineon Technologies AG, Tomtom N.V., Cisco Systems, Inc., AutoTalks Ltd, Cohda Wireless, Denso Corporation, HaaS Alert, HARMAN International, Huawei Technologies Co., Ltd., Lear Corporation, Neusoft Corporation, Rohde & Schwarz, Savari, Inc.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Automotive V2X Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Automotive V2X Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains Automotive V2X Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Automotive V2X Market.”
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