September 18, 2018 /ResearchByMarkets/— This research report covers the present scenario (with the base year being 2017) and the growth prospects of Global Automotive Vehicle to Everything (V2X) Market for 2018-2023.
Vehicle-to-X refers to an intelligent transport system where all vehicles and infrastructure systems are interconnected with each other.
This connectivity will provide more precise knowledge of the traffic situation across the entire road network which in turn will help: Optimize traffic flows, Reduce congestion, cut accident numbers, Minimize emissions.
V2X technology is based on 5.9GHz Dedicated Short Range Communication, a derivative of WiFi specifically defined for fast moving objects. It allows vehicles to communicate their state, such as their position and speed, to surrounding vehicles and infrastructures even in non-line-of-sight condition, such as behind a building or a curve.
The continuing push to improve safety while reducing the emissions and energy consumption resulting from transportation is driving the development of a number of crucial technologies, including electrification and automated driving systems. One of the key enabling systems for the success of both is the provision of real-time data to vehicles, drivers, and pedestrians through vehicle-to-external communications (V2X) using dedicated short-range communications (DSRC).
Global demand for new vehicles is projected to continue growing over the next decade, particularly in developing markets where dense urbanization is already causing problems with traffic congestion, accident rates, and air quality. Even before there is significant deployment of automated vehicles, V2X connectivity has the potential alleviate some of these issues. DSRC-based V2X systems are anticipated to be deployed by OEMs beginning in 2016 and see rapid expansion over the next decade. In addition to the embedded OEM systems on new vehicles, aftermarket retrofit systems and new smartphones with DSRC capability are expected to be adopted.
According to this research this report, global revenue from sales of OEM and aftermarket V2X Communications is projected to reach more than $6 billion by 2025.
It is report that GM will be the first car maker to have a V2X system in a production vehicle, with their CTS Cadillac going into production at the end of 2016. Meanwhile in Europe, the Corridor Project will ensure that there is infrastructure in place for the early adopters.
Deployment work is happening in parallel in the both the US and Europe, so it will be difficult to pinpoint exactly who deploys first – and even then there will only be months in it.
Over the next five years, this research report projects that Automotive Vehicle to Everything (V2X) will register a 28.9% CAGR in terms of revenue, reach US$ 3940 million by 2023, from US$ 860 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Automotive Vehicle to Everything (V2X) market by product type, application, key manufacturers and key regions.
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To calculate the market size, this research report considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
Road Safety Service
Automatic Parking System
Auto Car Service
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Automotive Vehicle to Everything (V2X) consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Automotive Vehicle to Everything (V2X) market by identifying its various subsegments.
Focuses on the key global Automotive Vehicle to Everything (V2X) manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Automotive Vehicle to Everything (V2X) with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Automotive Vehicle to Everything (V2X) submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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Ritesh Tiwari, Director