Allied Market Research published a report, titled, “Automotive V2X Market by Communication (Vehicle-to-vehicle (V2V), Vehicle-to-infrastructure (V2I), Vehicle-to-pedestrian (V2P), Vehicle-to-grid (V2G), Vehicle-to-cloud (V2C), and Vehicle-to-device (V2D)), Connectivity (Dedicated Short-range Communication (DSRC), and Cellular-V2X (C-V2X) Communication) and Vehicle Type (Passenger Cars and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global automotive V2X industry garnered $2.56 billion in 2019, and is projected to generate $11.71 billion by 2027, manifesting a CAGR of 28.4% from 2020 to 2027.

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Prime determinants of growth

Surge in adoption of connected cars and rapid increase in urbanization and industrialization drive the growth of the global automotive V2X market. However, high cost of implementation and security concerns related to data communication restrain the market growth. On the contrary, future potential of 5G & AI technology coupled with the advancement in cellular-V2X (C-V2X) technology and growth in developments in semi-autonomous and autonomous vehicles expected to provide new opportunities in the coming years.

Covid-19 Scenario

The lockdown imposed by the government during the initial phase of Covid-19 affected the manufacturing units across the globe.
The COVID-19 crisis have, furthermore, created uncertainty in the market, disruptions in the supply chain, decline in businesses, and increase in panic among customer segments. All these aspects impacted the market negatively, thereby affecting the sales.
Nevertheless, the industries are now continuing with their manufacturing processes, as the restrictions have been eased off. This is expected to support the market to recoup soon.

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The vehicle to vehicle segment to continue its lead position during the forecast period

By communication, the vehicle to vehicle segment accounted for the largest market share, contributing to nearly two-fifths of the global automotive V2X market in 2019, and will continue its lead position during the forecast period. This is due to changing infrastructural requirement for the connected cars. On the other hand, the Vehicle-to-Infrastructure (V2I) segment is expected to register the largest CAGR of 32.8% from 2020 to 2027. This is due to its ability to access the advisories from the infrastructure to the automotive which transfer the information regarding the mobility management, driver safety, and environmental conditions.

The passenger type segment to maintain its dominance in terms of revenue by 2027

By vehicle type, the passenger type segment contributed to the largest share in 2019, holding around 90% of the global automotive V2X market, and is projected to maintain its dominance in terms of revenue by 2027. In addition, this segment is expected to manifest at the fastest CAGR of 28.9% from 2020 to 2027, owing to high penetration of advanced technology in the passenger cars across the globe.

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Europe, followed by North America, to maintain its leadership status by 2027

By region, Europe, followed by North America, contributed to the highest market share in 2019, accounting for around one- third of the global automotive V2X market, and will maintain its leadership status by 2027. This is attributed to increasing penetration in digital technologies in this province.

However, Asia-Pacific is expected to witness the highest CAGR of 32.4% during the forecast period, owing to increasing number of connected cars in the region.

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Leading market players

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

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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