The size of the global automotive V2X market was worth USD 2.09 billion in 2024 and is anticipated to be approximately USD 81.23 billion by the year 2035, at a CAGR of 45.4% during the years 2025-2035. The increasing demand for safety features in a vehicle and improved traffic management system drive the automotive V2X market growth.
Global V2X in automotive market is divided into segments such as communication type, connectivity type, offering type, technology type, propulsion type, company and region. Most of the Vehicle-to-Everything (V2X) needs are from the Asia Pacific region, thus listing them down as leaders of the mainstream market in 2020. Vehicle-to-Everything (V2X) technology need is rapidly increasing in North America, but Asia-Pacific domination in the Global V2X in Automotive Market is expected to prevail during the forecast period.
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Lockdown put in place to prevent virus spread has tampered with supply for the vehicle sector, thereby having a detrimental effect on the V2X market. Given that various auto parts are being made and mounted in various countries, lockdown as well as worldwide trade barriers through closed borders enhanced the lack of needed auto parts and curbed supply. In addition, businesses implemented just-in-time production strategy because of tight budget which again exposes the supply chain to disruption. Global automotive production is heavily reliant on China and thus lockdown in China has led to shortages in supplies for assembly of all OEMs in North America, Europe, and Asia. However, the market is witnessing encouraging signs of recovery, due to which the Global V2X in Automotive Market is likely to recover from the Covid-19 effect in approximately 3 years.
Automotive V2X Market Driving Factors
The automobile sector has seen tremendous pace and is anticipated to increase a lot in the next few years. Incorporation of different safety features and communication technologies in a car has made the convenience feature of a car more prominent. Moreover, high demand of customers for these high-end features also serve as an impetus to the market expansion.
Autonomous vehicles and self-driving cars are a concept and are in their research stage, otherwise their commercialization is no sooner. In contrast, Vehicle to Everything (V2X) communication technology assists in the accomplishment of driverless mobility. A clear regulation for the implementation of V2X technology on the anvil likely to further stimulate the demand for V2X technology in the near future. Yet, security threat to the vehicle like hacking and tampering can inhibit the market growth. The V2X technology primarily pertains to vehicle-to-vehicle communication and hence data communication security is a key consideration.
Automotive V2X Market Companies
Continental AG
Delphi Automotive LLP
NXP Semiconductors
TomTom International B.V.
Qualcomm, Inc.
Robert Bosch GmbH
HARMAN International
Cisco Systems, Inc.
Mobileye
Infineon Technologies AG
Key Companies Share Insights
The automotive V2X market is characterized by the dominance of large electronic component manufacturers. These companies have strong global reach, diversified product offerings, and are heavily engaged in different strategic activities to maintain their market share. Besides, the market is witnessing intense competition as a result of fast-paced change in consumer choice and high research & development spending by market participants. The market participants are also engaging in collaboration, partnership, and merger & acquisition initiatives to capture maximum market share over the forecast period. For instance, in October 2016, a subsidiary entity of SAIC Motors, SAIC USA, has entered into an agreement with Savari Inc. Under this contract, the SAIC USA has committed to producing and selling the Savari Inc. V2X solutions in China and other countries in Asia.
Segments included in the Report
By Communication Type
Vehicle-To-Infrastructure (V2I)
Vehicle-To-Grid (V2G)
Vehicle-To-Vehicle (V2V)
Vehicle-To-Home (V2H)
Vehicle-To-Pedestrian (V2P)
Vehicle-To-Network (V2N)
By Vehicle Type
Commercial Vehicles (CV)
Passenger Cars
By Connectivity Type
Cellular Connectivity
DSRC
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