The global Automotive Vehicle-To-Everything (V2X) Market accounted for USD 414 Million in 2020 and is expected to reach USD 6,735 Million by 2028, growing at a CAGR of 41.7% from 2021 to 2028.
With a CAGR of 41.7% from 2021 to 2028, the global Automotive Vehicle-To-Everything (V2X) Market is projected to increase from USD 414 million in 2020 to USD 6,735 million by 2028.
Vehicle-to-everything (V2X) communication is the transmission of data from a vehicle to any device that has the potential to affect the vehicle. V2V (vehicle-to-vehicle), V2P (vehicle-to-pedestrian), V2I (vehicle-to-infrastructure), V2G (vehicle-to-grid), and V2D (vehicle-to-desktop) are all combined in this kind of vehicular mobility (vehicle-to-device). V2X communication frequently relies on WLAN knowledge and functions directly among vehicles or communications, defining a vehicular ad hoc network, because two V2X senders are in each other’s collection.
Impact Analysis for COVID-19
The COVID-19 is already having an impact on the world, and in 2020, it will have a significant impact on the automobile V2X market. There are worries that the lockdown will continue, significantly stifling industrial activity across all industries, especially the auto sector. Manufacturing facilities all around the world have suspended production as a result of the imposed lockdown, which may have an impact on the purchase of vehicles equipped with vehicle-to-everything (V2X) technologies. Market unpredictability, supply chain disruption, business decline, and a spike in customer segment panic are all effects of the COVID-19 issue. Governments in many regions have already announced complete lockdowns and interim industry shutdowns, which have a severe effect on overall production and sales.
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Automotive Vehicle-To-Everything (V2X) Market growth drivers include: The adoption of linked cars is rising; using a V2X platform, connected automobiles can connect to other cars, road infrastructure, and the cloud. These services can be used by auto dealers, fleet managers, and drivers to boost safety, automate crucial driving duties, and better utilise resources while gathering important information about vehicle performance and road conditions.
Regional Segment Analysis
Over the projection period, the Europe area is anticipated to expand at a CAGR of 37.4%. Strict safety and pollution laws control the automotive industry in Europe. Additionally, as safety standards tighten, V2V-required systems like adaptive cruise control and blind-spot detection will become commonplace, fostering the growth of the vehicle V2X business. V2X deployment is made simple in Europe thanks to enhanced infrastructure.
The Major Players in the Automotive Vehicle-To-Everything (V2X) Market include: Continental AG, Infineon Technologies AG, Toyota Motor Corporation, Delphi Automotive PLC, Savari Technologies Pvt. Ltd., Denso Corporation, Volkswagen AG, General Motors Company, Daimler AG, and BMW Group, among others.
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The global Automotive Vehicle-To-Everything (V2X) market is segmented as follows:
By Connectivity Type
By Communication Type
- Motor Vehicle To Motor Vehicle
- Motor Vehicle To Home
- Motor Vehicle To Network
- Motor Vehicle To Grid
- Motor Vehicle To Infrastructure
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