Vehicle-to-Everything (V2X) Market Overview, Growth, & Trends
The Vehicle-to-Everything (V2X) market is rapidly emerging as a crucial component of the intelligent transportation ecosystem, facilitating communication between vehicles, infrastructure, pedestrians, and networks. This technology enhances road safety, optimizes traffic flow, and supports the development of autonomous cars, making it a focal point in the future of mobility.
Market Overview
The global Vehicle-to-Everything (V2X) market was valued at approximately USD 3.03 billion in 2023. It is expected to grow significantly, reaching an estimated value of USD 53.14 billion by 2032, with a robust CAGR of 37.5% during the forecast period from 2024 to 2032. The surge in demand for connected vehicles, coupled with increasing government initiatives to develop smart cities and intelligent transportation systems, is driving the growth of the V2X market.
Growth Drivers
- Rising Adoption of Autonomous Vehicles: The integration of V2X technology is essential for the safe operation of autonomous vehicles. It enables real-time communication between cars and their surroundings, allowing for better decision-making and enhancing safety on the road.
- Government Initiatives and Regulations: Governments worldwide are implementing regulations and initiatives to support adopting V2X technology. For instance, the European Union and the United States have introduced mandates for the inclusion of V2X communication in new vehicles to improve road safety and reduce traffic congestion.
- Technological Advancements in 5G: The rollout of 5G networks is a significant enabler for V2X technology, offering the low latency and high-speed communication necessary for real-time data exchange between vehicles and their environment. This advancement is expected to accelerate the deployment of V2X systems globally.
Trends
- Development of Cooperative Intelligent Transport Systems (C-ITS): The integration of V2X technology with Cooperative Intelligent Transport Systems (C-ITS) is a growing trend. C-ITS enhances the efficiency of traffic management systems by enabling vehicles to communicate with each other and with infrastructure, leading to safer and more efficient roadways.
- Increased Focus on Cybersecurity: As V2X technology involves the exchange of critical data, ensuring the security and privacy of this information is paramount. The industry is witnessing increased investment in cybersecurity solutions to protect V2X systems from potential threats and vulnerabilities.
- Expansion of V2X Applications: Beyond vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications, V2X technology is expanding into new areas such as vehicle-to-grid (V2G) and vehicle-to-pedestrian (V2P) applications. These developments are broadening the scope and impact of V2X technology in the transportation sector.
Key Industry Highlights
- Major Players: Key players in the V2X market include Qualcomm Technologies, Continental AG, NXP Semiconductors, Denso Corporation, and Autotalks Ltd. These companies are focusing on strategic partnerships, mergers, and acquisitions to enhance their product portfolios and expand their market presence.
- Collaborations and Partnerships: The V2X market is characterized by collaborations between automotive manufacturers, technology providers, and government bodies. For instance, automakers are partnering with telecom companies to leverage 5G technology for V2X communications, while governments are working with industry players to develop and implement V2X infrastructure.
- Regional Insights: North America, particularly the United States, is leading the V2X market due to strong government support and early adoption of connected vehicle technologies. Europe is also a significant market, driven by stringent safety regulations and the development of smart city initiatives. The Asia-Pacific region is expected to witness the highest growth rate, fueled by the rapid development of automotive and telecommunications industries in countries like China, Japan, and South Korea.
- Regulatory Developments: The regulatory landscape for V2X technology is evolving, with governments around the world setting standards and guidelines for the deployment of V2X systems. These regulations are aimed at ensuring the interoperability, safety, and security of V2X communications, which are critical for the widespread adoption of the technology.
Future Outlook
The V2X market is poised for exponential growth, driven by advancements in autonomous driving, 5G technology, and smart city initiatives. As the technology continues to evolve, V2X is expected to play a pivotal role in transforming the transportation industry, enhancing road safety, reducing traffic congestion, and enabling a future of connected and autonomous vehicles.
Some of the Key Vehicle-to-Everything (V2X) Market Players:
- Arada Systems Inc.
- Autotalks Ltd.
- Cisco Systems Inc.
- Cohda Wireless Pty
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- Infineon Technologies AG
- Qualcomm Incorporated
- Toyota Motor Corporation
- NXP Semiconductor
Report Scope:
| Attribute | Description |
|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 3.03 Billion |
| Market size value in 2032 | USD 53.14 Billion |
| CAGR (2024 to 2032) | 37.5% |
| Historical data | 2018-2023 |
| Base Year | 2023 |
| Forecast | 2024-2032 |
| Region | The regions examined in the market analysis include Asia Pacific, Europe, South America, North America, and the Middle East & Africa. Additionally, these regions are further analyzed at the country level. |
| Segments | Communication Type, Vehicle Type, Connectivity, and Application |
Market Segmentation
This study projects revenue for the global, regional, and country levels from 2018 to 2032. The Beyond Market Insights has categorized the global vehicle-to-everything (V2X) market into the following segments:
Global Vehicle-to-Everything (V2X) Market by Communication Type:
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Pedestrian (V2P)
- Vehicle-to-Cloud (V2C)
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Grid (V2G)
- Vehicle-to-Network (V2N)
- Vehicle-to-Device (V2D)
Global Vehicle-to-Everything (V2X) Market by Vehicle Type:
- Passenger
- Commercial
Global Vehicle-to-Everything (V2X) Market by Connectivity:
- Dedicated Short-Range Communication (DSRC)
- Cellular
Global Vehicle-to-Everything (V2X) Market by Application:
- Automated Driver Assistance
- Emergency Vehicle Notification
- Fleet and Asset Management
- Line of Sight
- Backing
- Intelligent Traffic Systems
- Passenger Information Systems
- Parking Management Systems
- Non-Line of Sight
- Others
Global Vehicle-to-Everything (V2X) Market by Region:
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- South America
- Middle East and Africa
Table of Content
Chapter 1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
Chapter 2. Research Methodology and Assumptions
Chapter 3. Executive Summary
Chapter 4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Communication Type
4.3.2. Market Attractiveness Analysis by Vehicle Type
4.3.3. Market Attractiveness Analysis by Connectivity
4.3.4. Market Attractiveness Analysis by Application
4.3.5. Market Attractiveness Analysis by Region
4.4. Industry Trends
Chapter 5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. The increasing demand for smart urban mobility solutions
5.3. Restraints
5.3.1. The high investments costs
5.4. Opportunities
5.4.1. The favorable government initiatives
5.5. Challenges
5.5.1. The high risk of cyberattacks
Chapter 6. Global Vehicle-to-Everything (V2X) Market Analysis and Forecast, By Communication Type
6.1. Segment Overview
6.2. Vehicle-to-Vehicle (V2V)
6.3. Vehicle-to-Pedestrian (V2P)
6.4. Vehicle-to-Cloud (V2C)
6.5. Vehicle-to-Infrastructure (V2I)
6.6. Vehicle-to-Grid (V2G)
6.7. Vehicle-to-Network (V2N)
6.8. Vehicle-to-Device (V2D)
Chapter 7. Global Vehicle-to-Everything (V2X) Market Analysis and Forecast, By Vehicle Type
7.1. Segment Overview
7.2. Passenger
7.3. Commercial
Chapter 8. Global Vehicle-to-Everything (V2X) Market Analysis and Forecast, By Connectivity
8.1. Segment Overview
8.2. Dedicated Short-Range Communication (DSRC)
8.3. Cellular
Chapter 9. Global Vehicle-to-Everything (V2X) Market Analysis and Forecast, By Application
9.1. Segment Overview
9.2. Automated Driver Assistance
9.3. Emergency Vehicle Notification
9.4. Fleet and Asset Management
9.5. Line of Sight
9.6. Backing
9.7. Intelligent Traffic Systems
9.8. Passenger Information Systems
9.9. Parking Management Systems
9.10. Non-Line of Sight
9.11. Others
Chapter 10. Global Vehicle-to-Everything (V2X) Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
Chapter 11. Global Vehicle-to-Everything (V2X) Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in the Vehicle-to-Everything (V2X) Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. Product Launches and Developments
11.3.2. Partnerships, Collaborations, and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
Chapter 12. Company Profiles
12.1. Arada Systems Inc.
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. Autotalks Ltd.
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. Cisco Systems Inc.
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. Cohda Wireless Pty
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Continental AG
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. Delphi Automotive PLC
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. Denso Corporation
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
12.8. Infineon Technologies AG
12.8.1. Business Overview
12.8.2. Company Snapshot
12.8.3. Company Market Share Analysis
12.8.4. Company Product Portfolio
12.8.5. Recent Developments
12.8.6. SWOT Analysis
12.9. Qualcomm Incorporated
12.9.1. Business Overview
12.9.2. Company Snapshot
12.9.3. Company Market Share Analysis
12.9.4. Company Product Portfolio
12.9.5. Recent Developments
12.9.6. SWOT Analysis
12.10. Toyota Motor Corporation
12.10.1. Business Overview
12.10.2. Company Snapshot
12.10.3. Company Market Share Analysis
12.10.4. Company Product Portfolio
12.10.5. Recent Developments
12.10.6. SWOT Analysis
List of Figures
1. Global Vehicle-to-Everything (V2X) Market Segmentation
2. Vehicle-to-Everything (V2X) Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Vehicle-to-Everything (V2X) Market Attractiveness Analysis by Communication Type
9. Global Vehicle-to-Everything (V2X) Market Attractiveness Analysis by Vehicle Type
10. Global Vehicle-to-Everything (V2X) Market Attractiveness Analysis by Connectivity
11. Global Vehicle-to-Everything (V2X) Market Attractiveness Analysis by Application
12. Global Vehicle-to-Everything (V2X) Market Attractiveness Analysis by Region
13. Global Vehicle-to-Everything (V2X) Market: Dynamics
14. Global Vehicle-to-Everything (V2X) Market Share by Communication Type (2024 & 2032)
15. Global Vehicle-to-Everything (V2X) Market Share by Vehicle Type (2024 & 2032)
16. Global Vehicle-to-Everything (V2X) Market Share by Connectivity (2024 & 2032)
17. Global Vehicle-to-Everything (V2X) Market Share by Application (2024 & 2032)
18. Global Vehicle-to-Everything (V2X) Market Share by Regions (2024 & 2032)
19. Global Vehicle-to-Everything (V2X) Market Share by Company (2024)
Global Vehicle-to-Everything (V2X) Market by Communication Type:
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Pedestrian (V2P)
- Vehicle-to-Cloud (V2C)
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Grid (V2G)
- Vehicle-to-Network (V2N)
- Vehicle-to-Device (V2D)
Global Vehicle-to-Everything (V2X) Market by Vehicle Type:
- Passenger
- Commercial
Global Vehicle-to-Everything (V2X) Market by Connectivity:
- Dedicated Short-Range Communication (DSRC)
- Cellular
Global Vehicle-to-Everything (V2X) Market by Application:
- Automated Driver Assistance
- Emergency Vehicle Notification
- Fleet and Asset Management
- Line of Sight
- Backing
- Intelligent Traffic Systems
- Passenger Information Systems
- Parking Management Systems
- Non-Line of Sight
- Others
Global Vehicle-to-Everything (V2X) Market by Region:
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- South America
- Middle East and Africa
