The global automotive V2X market size is expected to reach USD 15,312.0 Million by 2030, according to a new study by Polaris Market Research. The report, “Automotive V2X Market Share, Size, Trends, Industry Analysis Report, By Offering (Hardware, Software), By Communication; By Connectivity, By Technology, By Vehicle Type, By Unit Type; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The expanding global automotive industry and the increasing popularity of autonomous vehicles majorly drive the industry's growth. The adoption of such systems has increased significantly owing to increasing road traffic, growing incidences of road accidents, and the growing need to improve road safety.
The increasing traffic congestion across the globe, growing environmental concerns, and rising demand for advanced vehicles further accelerate the adoption of such systems in the coming years. Other growth factors include increasing disposable income, technological advancements, and changing lifestyles. New emerging markets, emerging consumer demographics, and stringent government regulations would provide growth opportunities for the industry in the near future.
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Based on offerings, the software segment holds the largest market share during the forecast period. These factors are attributed to progression in automotive electronics, such as cloud technology improvising the demand for the software segment. The growing demand for vehicles that are semi-autonomous vehicles that are armed with advanced driver assistance systems (ADAS) and the ever-increasing endeavors by OEM (Original Equipment Manufacturers) to make autonomous vehicles at the earliest is boosting global revenue.
The growing number of road accidents, escalating government support for enhancing traffic management, and technological progressions in the field of automotive electronics, such as cloud technology, have categorically been expected to push the growth of the global V2X market. Continental AG, Delphi Technologies, Denso Corporation, Harman International, Infineon Technologies, NXP Semiconductors, Qualcomm Technologies, Robert Bosch, STMicroelectronics
In February 2021, Harman International, a US-based company concentrated on connected devices for automotive in customer and enterprise markets, obtained the resources of Savari, Inc. for an unsaid amount. With Savari, Inc.'s securing, Harman International aims to enhance its car telematics and Advanced Driving Assistance Systems (ADAS) connected to the market and broaden the firm's qualities in 5G Edge and Multi-Access Edge Computing (MEC).
Polaris Market Research has segmented the automotive V2X market report based on offering, communication, propulsion, connectivity, technology, vehicle type, unit type, and region.
Automotive V2X, Offering Outlook (Revenue - USD Million, 2018 - 2030)
Automotive V2X, Communication Outlook (Revenue - USD Million, 2018 - 2030)
Automotive V2X, Propulsion Outlook (Revenue - USD Million, 2018 - 2030)
Automotive V2X, Connectivity Outlook (Revenue - USD Million, 2018 - 2030)
Automotive V2X, Technology Outlook (Revenue - USD Million, 2018 - 2030)
Automotive V2X, Vehicle Type Outlook (Revenue - USD Million, 2018 - 2030)
Automotive V2X, Unit Type Outlook (Revenue - USD Million, 2018 - 2030)
Automotive V2X, Regional Outlook (Revenue - USD Million, 2018 - 2030)