The Companies Involved in Automotive V2X Market Mostly Adopted Strategies Such as Partnerships, Collaborations, Agreements, Expansions, Joint Ventures, New Product Launches
The automotive V2X market is expected to be valued at USD 767.5 Million in 2017 and is expected to reach USD 2,815.5 Million by 2022, at a CAGR of 29.69% between 2017 and 2022. The key drivers of the automotive V2X market are demand for real-time traffic and incident alerts for increasing public safety, increasing financial aid from various government funds for better traffic management, and increased environmental concerns.
The companies involved in automotive V2X market mostly adopted strategies such as partnerships, collaborations, agreements, expansions, joint ventures, new product launches, and mergers and acquisitions during the past few years. Among these strategies, 47.4% of the developments were partnerships, collaborations, agreements, expansions and joint ventures, 35.1% developments included new product launches, and 17.5% of the developments involved mergers and acquisitions.
The market has been segmented into three types to identify the key players in the V2X market– V2X systems market, semiconductor market, and automobile manufacturers market.
Continental AG held the first rank in the automotive vehicle-to-everything market for the automotive V2X market. The company offers products and solutions for advanced driver assistance systems (ADAS) and automated driving. New product developments and mergers and acquisitions are the major strategies adopted by the company. For instance, in September 2016, the company launched the ProViu Detect, a system that assists truck drivers on right turns, making the roads safer for pedestrians and cyclists. In October 2016, the company acquired a majority stake in Zonar Systems, Inc. (U.S.), a smart fleet management systems provider. This acquisition would further expand Continental’s fleet management service business, extend its portfolio of services, and introduce innovative SaaS telematics platform for public and private commercial vehicle fleets in North America.
Qualcomm Inc. (U.S.) leads the market for semiconductor components in the automotive V2X market. The company offers automotive solution for V2X market such as the Snapdragon 820 Automotive Processor, Qualcomm Atlas, and Qualcomm VIVE, among others. Qualcomm Inc. has a number of partnerships and agreements with other industry leaders such as Google Inc. (U.S.), Daimler AG (Germany), and Mercedes AMG Petronas Formula One Team (Germany), which helps it in becoming the market leader for semiconductor market for automotive V2X market. New product launches and developments have helped in improving the productivity and exploring the growth opportunities for the company.
Daimler AG (Germany) was ranked the first in the automotive V2X market for automobile manufacturers. It is engaged in the manufacturing of premium cars and commercial vehicles. The company provides a number of solutions for automotive connectivity, along with complete vehicles having in-built connectivity solutions. Mercedes-Benz Cars unit offers the E-Class and F015 Luxury-in-Motion cars with built-in connectivity solutions. Also, some models from the Daimler Trucks unit have connectivity options. The company has collaborations with AT&T Inc. (U.S.) and Qualcomm Technologies Inc. (U.S.) for developing new solutions for its vehicles.
Related Reports:
Automotive Vehicle-to-Everything (V2X) Market by Offering (Hardware, Software), Type (V2V, V2I, V2P, V2G, V2H, and V2N), Connectivity Type (DSRC and Cellular), Vehicle Type (Passenger and Commercial), Application - Global Forecast to 2022
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