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Automotive Vehicle-To-Everything (V2X) Market by Connectivity (Dedicated Short-Range Communications (DSRC), Cellular Vehicle-To-Everything (C-V2X)), by Communication (Vehicle-to-Vehicle (V2V), Vehicle-to-infrastructure, Vehicle-to-Person (V2P), Others), by Component (Hardware, Software), by Application (Fleet Management, Autonomous Driving, Collision Avoidance, Intelligent Transport Systems, Parking Management Systems, Others), by Vehicle (Passenger Vehicle, Commercial Vehicle), by North America (U.S., Canada), by Europe (UK, Germany, France, Italy, Spain, Benelux, Poland, Sweden, Russia, Netherlands, Austria, Switzerland, Slovakia, Czech Republic, Norway, Finland, Denmark), by Asia Pacific (China, Japan, India, South Korea, Taiwan, Thailand, Malaysia, Indonesia, Australia, Vietnam, Cambodia), by Latin America (Brazil, Mexico, Argentina, Colombia), by MEA (UAE, South Africa, Saudi Arabia) Forecast 2025-2033
The size of the Automotive Vehicle-To-Everything (V2X) Market was valued at USD 2.5 billion in 2023 and is projected to reach USD 11.92 billion by 2032, with an expected CAGR of 25% during the forecast period.The Automotive Vehicle-to-Everything (V2X) market involves the deployment of communication technologies that allow vehicles to interact with each other, surrounding infrastructure, pedestrians, and cloud systems. Key communication standards such as Dedicated Short-Range Communications (DSRC) and Cellular V2X (C-V2X) play a crucial role in improving safety, alleviating traffic congestion, and supporting autonomous driving technologies. V2X applications include vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), and vehicle-to-network (V2N) systems, all of which enhance traffic management and road safety. The market is propelled by several factors, including the development of 5G networks, which provide the fast data transfer required for V2X functionalities; governmental policies mandating V2X communication for enhanced safety; the proliferation of autonomous vehicles that depend on constant connectivity; and the rising demand for smart city innovations that link vehicles with urban infrastructure. These driving forces contribute to the rapid growth of the V2X market, establishing it as a vital element in the evolution of transportation and smart mobility solutions.
The V2X market is concentrated among a few key players, such as Qualcomm, NXP Semiconductors, and Huawei. These companies have a strong presence in the automotive industry and are well-positioned to capitalize on the growth of the V2X market. The market is also characterized by a high degree of innovation, as companies are constantly developing new and improved V2X technologies.
Key market trends include the increasing adoption of autonomous vehicles, the improving safety features of V2X technology, and the increasing demand for connected vehicles. Autonomous vehicles require V2X technology to communicate with each other and with other objects in the environment. V2X technology can also improve the safety of vehicles by providing drivers with information about potential hazards. The increasing demand for connected vehicles is also driving the growth of the V2X market. Connected vehicles can access real-time information about traffic conditions, parking availability, and other factors that can help drivers make better decisions.
North America and Europe continue to lead the V2X market due to their advanced automotive industries and strong demand for autonomous and connected vehicles. The Asia-Pacific region, particularly China and India, is poised for significant growth as governments and automakers invest in autonomous vehicle development and connected vehicle infrastructure.
The passenger vehicle segment remains dominant due to the rising uptake of connected and autonomous personal vehicles. However, the commercial vehicle segment is expected to experience substantial expansion as businesses recognize the benefits of V2X technology for fleet safety, efficiency, and logistics optimization.
The Automotive Vehicle-to-Everything (V2X) Market is expected to grow from 2.5 billion in 2023 to 20 billion by 2028, at a CAGR of 25%. The market is driven by the increasing adoption of connected and autonomous vehicles, the improving safety features of V2X technology, and the increasing demand for real-time information about traffic conditions and other factors that can help drivers make better decisions.
Connectivity:
Communication:
Component:
Application:
Vehicle:
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 25% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
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