Automotive V2X Market

Market Leaders - Automotive V2X Market

The automotive V2X market is projected to grow from USD 689 million in 2020 to USD 12,859 million by 2028, at a CAGR of 44.2 %. The market growth can be attributed to the increasing safety concerns over road traffic accidents among the public and various governments across the globe. As per the NHTSA, 615,000 motor vehicle crashes could be avoided by the application of V2V communications. The increase in environmental pollution caused by transportation is another key factor for the growth of the automotive V2X market, as V2X is expected to reduce pollution by optimization of traffic flow. Since traffic congestion alone causes 15 billion liters of wasted fuel every year in the US (as per the US EPA), V2X would play a key role in reducing fuel consumption.

The key players in the automotive V2X market are Qualcomm Technologies, Inc. (US), Continental AG (Germany), Robert Bosch GmbH (Germany), Autotalks Ltd. (Israel), and Delphi Technologies (UK).

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New product launch is the key strategy adopted by major players in the automotive V2X market. For instance, in January 2020, Qualcomm Technologies launched the Qualcomm® C-V2X reference platform for vehicular and roadside units (RSUs). This product is expected to offer computational power and message security, among other features.

The partnership/ collaboration was another adopted by key players in the automotive V2X market. For instance, in February 2019, Autotalks collaborated with MediaTek Inc. to integrate V2X and telematics. This collaboration would offer a cybersecure and flexible telematics unit that can be incorporated with V2X chipset to ensure separation between the V2X and telematic domains (V2N).

Robert Bosch GmbH is among the top players in the automotive V2X market. The company offers hybrid CCUs (connectivity control units) for the automotive V2X market. Bosch has leveraged the collaboration/partnership strategy to stay competitive in the automotive V2X market. For instance, in December 2018, Bosch partnered with Veniam to ensure seamless vehicle-to-everything (V2X) connectivity.

Continental AG is another key player in the automotive V2X market. The V2X solutions offered by Continental are capable of supporting both DSRC and C-V2X. Continental has also adopted the partnership/ collaboration strategy over the years. For instance, in June 2018, Continental AG partnered with Vodafone to improve safety of German roads with smart vehicle connectivity. These companies are also working together for the implementation of 5G-V2X technology. Since 5G-V2X is expected to be the future of V2X communications, this partnership would offer Continental AG a competitive edge in the automotive V2X market in the coming years.

Related Reports:

Automotive V2X Market by Connectivity (DSRC, and Cellular), Communication (V2V, V2I, V2P, V2G, V2C, and V2D), Vehicle (Passenger Car, and Commercial Vehicle), Propulsion (ICE and EV), Unit, Offering, Technology, and Region - Global Forecast to 2028

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
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Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
AT 5947
RI Published ON
2/18/2020
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