NEW
YORK, Aug. 6, 2024 /PRNewswire/ -- The global
vehicle-to-everything (V2X) communication system market size is
estimated to grow by USD 23.40
billion from 2024-2028, according to Technavio. The
market is estimated to grow at a CAGR of 22.79% during
the forecast period. Growing demand for smart road
infrastructure is driving market growth, with a trend
towards advent of smart cities. However, need to maintain
compliance with stringent standards poses a challenge. Key
market players include Aptiv Plc, Autotalks Ltd., BMW AG, Capgemini
Service SAS, Cisco Systems Inc., Cohda Wireless Pty. Ltd.,
Continental AG, DENSO Corp., General Motors Co., Huawei
Technologies Co. Ltd., Infineon Technologies AG, Kapsch TrafficCom
AG, Lear Corp., Neusoft Corp., NXP Semiconductors NV, Qualcomm
Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd.,
STMicroelectronics International N.V., and Unex Technology
Corp..
![Technavio has announced its latest market research report titled Global Vehicle-to-everything (V2X) communication system market 2024-2028 Technavio has announced its latest market research report titled Global Vehicle-to-everything (V2X) communication system market 2024-2028](https://mma.prnewswire.com/media/2475441/Technavio___Global_Vehicle_to_everything_communication_system_market_2024_2028.jpg)
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Vehicle-To-Everything (V2X) Communication System
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
22.79%
|
Market growth
2024-2028
|
USD 23404.6
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
19.3
|
Regional
analysis
|
Europe, North America,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 31%
|
Key
countries
|
US, China, Germany,
Japan, and South Korea
|
Key companies
profiled
|
Aptiv Plc, Autotalks
Ltd., BMW AG, Capgemini Service SAS, Cisco Systems Inc., Cohda
Wireless Pty. Ltd., Continental AG, DENSO Corp., General Motors
Co., Huawei Technologies Co. Ltd., Infineon Technologies AG, Kapsch
TrafficCom AG, Lear Corp., Neusoft Corp., NXP Semiconductors NV,
Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd.,
STMicroelectronics International N.V., and Unex Technology
Corp.
|
Market Driver
Smart cities are digital innovations that connect various
devices to enhance communication, improve performance, and reduce
costs. Examples of smart city advancements include traffic control,
home monitoring, e-toll, waste management, and water management.
The number of smart cities is projected to increase significantly,
with Saudi Arabia planning to
develop 16 smart cities by 2030 as part of its Vision 2030
initiatives. V2X communication systems will be essential in
enabling vehicles to communicate with various entities in these
cities. The data generated from smart devices will be analyzed to
improve business quality and innovate for a better future.
Companies are focusing on installing communication infrastructure
in smart cities to provide high-speed connectivity and asynchronous
traffic shaping. Technology has evolved to include wearable
devices, which function as data collection devices for analytics in
the transportation sector. The incorporation of advanced
technologies, such as V2X communication systems and wearable
devices, within smart cities is expected to drive market growth
during the forecast period.
The V2X market is surging, driven by the growing awareness of
connected vehicles and the need for faster, more efficient traffic
management. The European Union (EU) is leading the charge, with
Cellular V2X technology at the forefront. Automakers and OEMs are
investing heavily in V2X, integrating it into electric vehicles and
advanced driver assistance systems (ADAS). Smart parking, GPS-based
location services, and predictive vehicle maintenance are just some
of the benefits for vehicle owners. V2X technology also enhances
automotive performance and provides real-time weather information.
Infrastructure and road users alike reap the rewards of V2X, with
intelligent transport systems, sensors, cameras, and data recorders
enabling collision avoidance, traffic updates, and road condition
alerts. However, challenges remain, including cybersecurity threats
from hackers and network attacking gateways. Cloud-based networks
and hardware solutions are being developed to counteract these
risks. The future of the V2X market is bright, with autonomous
vehicles, sustainable mobility solutions, and C-ITS set to
revolutionize the automotive sector for consumers and connectivity
infrastructure on highways in emerging economies. Companies like
Cohda are leading the way in V2X innovation.
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Market Challenges
- Vehicle-To-Everything (V2X) communication systems face
regulatory challenges due to stringent government regulations that
govern manufacturing, distribution, marketing, and sales. For
instance, IEEE 802.11p standards recommend specific features and
technology for V2X communication systems. New standards continue to
emerge, requiring manufacturers to comply with periodic inspections
under the Quality System Regulation Act. Additionally, V2X
communication systems in autonomous vehicles must meet Automotive
Safety Integrity Level (ASIL) requirements, with suppliers adhering
to International Organization for Standardization (ISO) 26262
standards. Maintaining these standards and updating offerings to
keep pace with network technology increases manufacturing costs,
potentially hindering market growth during the forecast
period.
- The Vehicle-To-Everything (V2X) communication system market is
rapidly growing as the transportation industry seeks to improve
road safety and traffic efficiency. However, implementing V2X
technology faces challenges. Vision-based systems, Wi-Fi, and
cellular technology each have their limitations in adverse
conditions. On-Board Units (OBU) and Roadside Units (RSU) must
communicate effectively to enable Automated driver assistance,
Vehicle-to-Vehicle (V2V), Vehicle-to-Pedestrian (V2P),
Vehicle-to-Network (V2N), and Vehicle-to-Infrastructure (V2I)
communication. Road networks, C-Road Platform, and various European
programs like 5G-PPP, 5G Mobix, 5G MED, 5GCroCo, and 5G-ROUTES, are
crucial for the development of advanced communication systems.
Companies like Mercedes-Benz, Hamburg Port Authority, NXP
Semiconductors, Siemens Mobility, Technolution, and truck and
vehicle manufacturers are investing in V2X technology to reduce
road traffic accidents, fatalities, non-fatal injuries, and
disabilities. Traffic lights, parking spaces, trucks, vehicles,
pedestrians, and energy savings are all benefiting from this
innovative technology. Hazards and vehicular data are shared in
real-time to enhance road safety and optimize traffic flow.
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Segment Overview
This vehicle-to-everything (v2x) communication system market
report extensively covers market segmentation by
- Connectivity
- Vehicle Type
- 2.1 Passenger
- 2.2 Commercial
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Cellular- The Cellular Vehicle-to-Everything
(C-V2X) system represents a unified connectivity platform designed
to facilitate low-latency communication between vehicles,
infrastructure, and vulnerable road users. C-V2X, which operates in
the 5.9 GHz frequency range, offers non-line-of-sight awareness and
enhanced predictability for improved road safety and autonomous
driving. This technology enables vehicles to interact with other
vehicles, pedestrians, and cyclists without relying on a cellular
network. By implementing C-V2X and wireless technologies in
transportation, significant benefits can be reaped, such as reduced
traffic accidents, improved trip planning, mode selection, and
traffic efficiency, leading to less fuel consumption. Real-time
route assistance, optimized vehicle dynamics, and personal mobility
services are just a few advantages of C-V2X. The technology uses 4G
LTE or 5G mobile cellular communication that is 3GPP standardized.
The Federal Communications Commission in the US has allocated 20
MHz and potentially 30 MHz of the 5.9 GHz range for C-V2X. The
future of C-V2X is promising, as it will revolutionize the way we
engage with our cars and communicate with one another, ultimately
leading to a more effective and efficient transportation system.
The expanding 5G infrastructure in both developed and developing
countries is expected to fuel the growth of the C-V2X market during
the forecast period.
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geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
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The global Near Autonomous Passenger Car Market is experiencing
significant growth due to advancements in AI and sensor
technologies. Major players are investing in R&D to enhance
vehicle safety and efficiency. The market is segmented by
technology, application, and region, with North America and Europe leading in adoption rates. Increasing
consumer demand for advanced driver-assistance systems (ADAS) and
semi-autonomous features is driving market expansion. Key players
include Tesla, Audi, and BMW, who are pioneering innovations in
this sector.
Research Analysis
Vehicle-to-Everything (V2X) communication systems enable
vehicles to exchange information with other vehicles, parking
spaces, traffic lights, pedestrians, and infrastructure in
real-time. This technology enhances road safety by providing
advanced warning systems for potential collisions and traffic
congestion. V2X also promotes energy savings and traffic efficiency
by optimizing vehicle flow and reducing idling time at traffic
lights. Sensors, cameras, and data recorders are essential hardware
components of V2X systems, while predictive vehicle maintenance and
automotive performance enhancement are specific tasks they can
perform. V2X communication systems operate based on fundamental
standards such as SAE JS2735 and use various operating systems for
data processing. In high-traffic environments, V2X systems can
significantly improve safety and efficiency, reducing the number of
road traffic accidents and improving overall traffic flow.
Market Research Overview
The V2X communication system market is a rapidly growing sector
that enables vehicles to communicate with parking spaces, traffic
lights, pedestrians, and other road users in real-time. This
advanced communication technology enhances road safety by providing
safety features such as collision avoidance, hazard warnings, and
traffic updates. V2X also promotes energy savings and traffic
efficiency by optimizing traffic flow and reducing road traffic
accidents, fatalities, non-fatal injuries, and disabilities. V2X
systems utilize various technologies including Cellular
V2X, DSRC, IEEE 802, ITS-G5, and IEEE 1609. Automakers and
OEMs are integrating V2X technology into electric vehicles,
autonomous vehicles, and commercial vehicles for predictive vehicle
maintenance, automotive performance enhancement, and platooning.
The European Union (EU) and emerging economies are investing in V2X
infrastructure to support sustainable mobility solutions and
improve connectivity infrastructure on highways and in rural areas.
However, security concerns such as hackers and network attacking
gateways pose challenges to the V2X market. The market also
includes various stakeholders such as traffic operators, government
regulatory frameworks, telecommunications regulations, and
third-party logistics companies. V2X technology relies on various
sensors, cameras, data recorders, and predictive analytics to
provide real-time information to road users. The market is expected
to grow significantly in the coming years due to the increasing
demand for intelligent transport systems, weather information, and
C-ITS services.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Connectivity
-
- Vehicle Type
-
- Geography
-
- Europe
- North America
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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