Global V2X (Vehicle-to-Everything) Market, By Component (Hardware, Others), By Communication (V2V, Others), By Connectivity (DSRC, Others), By Application (ADAS, Others), By Vehicle Type, By Vehicle Application, Estimation & Forecast 2027 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider V2X (Vehicle-to-Everything) market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, V2X (Vehicle-to-Everything) market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Market Introduction
The global V2X (Vehicle-to-Everything) market held a market value of USD 2,917.1 Million in 2020 and is forecasted to reach USD 18,877.1 Million by the year 2027. The market is expected to register a CAGR of 33.8% during the forecast period.
The V2X technology enables vehicles to communicate with moving parts of the traffic system around them. The market is majorly driven by the rise in the adoption of connected cars. According to the Cambridge Innovation Institute, over 125 million passenger cars with embedded connectivity are estimated to ship globally between 2018 and 2022. Moreover, favorable government initiatives, as well as rising technology penetration, are also estimated to fuel the market growth. Also, wildly increasing traffic congestion and environmental concerns are expected to boost market growth.
Growth Influencers:
A rise in the adoption of connected cars
Cars enabled with the 5G wireless technology are currently in their testing phase. With features such as faster downloading speeds and low latency, connected cars are one of the largest beneficiaries of the new wireless standards. Connected cars offer more than just the added entertainment in their dashboard. C-V2X or cellular vehicle-to-X technology encompasses the connecting of vehicle sensors to driving data such as traffic, location, speed, other cars, and anything else which can be conceived in this driving ecosystem. Ford Motor’s CES show conducted in January 2019, stated that the company aims to equip the entire portfolio of Ford cars with 5G modems. These are expected to roll out in 2022. Such developments are anticipated to boost market growth.
Favorable government initiatives and rising technology penetration
Various government initiatives coupled with technological advancements by companies are boosting market growth. For instance, China Unicom, China Telecom, and China Mobile are expected to invest near about USD 184 billion in 5G network technology by 2025. In addition to this, in 2020, China Unicom and Volvo collaborated to explore the V2X technology and other use cases requiring a 5G network. Such developments by market players and initiatives by the government are anticipated to fuel the market growth during the forecast period.
Segments Overview:
The global V2X (Vehicle-to-Everything) market is segmented into component, communication, connectivity, application, vehicle type, and vehicle application.
By Component
• Hardware
o Onboard Unit (Connectivity Control Unit)
o Road-Side Unit
• Software Platform
• Services
The hardware segment held the largest share of more than 45%. The high product availability of V2X hardware is anticipated to contribute to market growth. The software platform segment is expected to grow at the fastest CAGR owing to rising advancements in the segment, such as the 5G technology.
By Communication
• Vehicle-to-Vehicle (V2V)
• Vehicle-to-Infrastructure (V2I)
• Vehicle-to-Pedestrian (V2P)
• Vehicle-to-Grid (V2G)
• Vehicle-to-Cloud (V2C)
• Vehicle-to Device (V2D)
The vehicle to vehicle (V2V) segment accounted for the largest share due to government initiatives in this segment. On the other hand, the vehicle to infrastructure (V2I) segment is anticipated to grow at the fastest growth rate of 35.1% over the forecast period, as the technology would help in resolving issues such as traffic congestion.
By Connectivity,
• Dedicated short-range communications (DSRC)
• Cellular
• Hybrid
The DSRC segment accounted for the largest market share owing to its cost-effectiveness over the connectivity segments. The cellular segment is expected to grow at the fastest CAGR as it offers wide coverage options, as compared to the other alternatives.
By Application,
• Automated driver assistance (ADAS)
• Intelligent traffic systems
• Emergency vehicle notification
• Passenger information system
• Fleet & asset management
• Parking management system
• Line and non-line of sight
• Backing
• Others
The fleet & asset management segment accounted for the largest market share of around 15% owing to increasing usage of V2X in the sector. The ADAS segment is anticipated to grow at the fastest CAGR over the forecast period owing to the technological advancements by market players in the segment.
By Vehicle Type
• ICE Vehicle
• Electric Vehicles
The ICE Vehicle segment accounted for the largest market share owing to the high adoption of ICE Vehicles across the globe currently. Electric vehicles are expected to demonstrate significant growth during the forecast period owing to technological advancements in the segment by many market players in the automobile sector.
By Vehicle Application
• Commercial
• Passenger
• Off-highway
The passenger segment accounted for the largest market share owing to the high demand for passenger cars. The off-highway segment is anticipated to grow at the fastest CAGR over the forecast period.
Regional Overview
On a regional basis, the global V2X (Vehicle-to-Everything) market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.
The North American region accounted for the largest market share of more than 30% in the global market owing to the presence of developed countries, i.e. the U.S. and Canada, which are one of the largest automotive markets. The Asia Pacific region is anticipated to grow at the fastest growth rate during 2017 to 2027.
The European market is expected to hold the second-largest market share as the European automotive industry has stringent emission norms and safety regulations. These norms are expected to promote the adoption of V2X technology, which contributes to market growth.
Competitive Landscape
Key players operating in the global V2X (Vehicle-to-Everything) market include Altran, Autotalks LTD, TE Connectivity, Cohda Wireless, Continental AG, Delphi Technologies, Denso Corporation, Flex LTD., General Motors, Harman International, Huawei Technologies Co., LTD., Infineon Technologies AG, Intel Corporation, Kapsch Group, Lear Corporation, Marben Products, Mitsubishi Corporation, Molex (Koch Industries), Nokia, NXP Semiconductors, NUVVE, Qualcomm Technologies, Inc., Robert Bosch GmbH, Unex Technology Corp., Stmicroelectronics, and Tata Elxsi, among others.
The cumulative market share of the eight major players is near about 63.3%. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in May 2021, Autotalks collaborated with Sreda to deliver Autotalks’ V2X solutions for Russian and global markets.
The global V2X (Vehicle-to-Everything) market report provides insights on the below pointers:
• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global V2X (Vehicle-to-Everything) market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global V2X (Vehicle-to-Everything) market report answers questions such as:
• What is the market size and forecast of the Global V2X (Vehicle-to-Everything) Market?
• What are the inhibiting factors and impact of COVID-19 on the Global V2X (Vehicle-to-Everything) Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global V2X (Vehicle-to-Everything) Market?
• What is the competitive strategic window for opportunities in the Global V2X (Vehicle-to-Everything) Market?
• What are the technology trends and regulatory frameworks in the Global V2X (Vehicle-to-Everything) Market?
• What is the market share of the leading players in the Global V2X (Vehicle-to-Everything) Market?
• What modes and strategic moves are considered favorable for entering the Global V2X (Vehicle-to-Everything) Market?
What is market research report?
Market research is a defined process to collect information about customers, competitors, and everything that a business needs to understand to sustain and grow. It offers important analysis to distinguish and examine the market needs, size, and trends. Market research is generally divided into, primary research and/or secondary research. The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process. The report helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage. Market research reports provide in-depth analysis about the market conditions and requirements for effective decision making.
The report provides a snapshot of the global market size, segmentation data, marketing growth strategies, market share, export and import information, analysis and forecast of market trends, competition, domestic production, best sales prospects, statistical data, tariffs, regulations, distribution and business practices, end-user analysis, contact points and more. These research reports include information about competitive strategies, solutions, fact-based research, key takeaways, recommendations, market considerations, emerging business models and market opportunities for multiple segments of an industry. Market research reports assist in solving business problems and making better decisions to improve business as per the prevalent market trends.
Browse market information, tables and figures extent in-depth TOC, The latest independent research document on various market development activities and business strategies such as new product/services development, Joint Ventures, partnerships, mergers and acquisitions, etc. In order to provide a more informed view, a market company profiles include Business Overview, Product / Service Offerings, SWOT Analysis, Segment & Total Revenue, Gross Margin and % Market Share. This report explores market definitions, overview, classification, segmentation, inclusive of market type and applications followed by product specifications, manufacturing initiatives, pricing structures, raw material sourcing and supply chain analysis.
About Data Collection and Research Methodology: Majorly data is collected via primary sources that includes interviews and survey with industry experts from core and related industries, and manufacturers and part suppliers involved in supply chain. Additionally, secondary sources are also utilized like annual reports, whitepapers, press releases etc.
Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.
Study Explore :
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
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Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.
Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis
The study objectives of this report are:
- To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, history data, and forecast.
- To understand the structure of market by identifying its various subsegments.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the growth trends, future prospects, and their contribution to the total market.
- To project the value and volume of submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
The Study Explore COVID 19 Outbreak Impact Analysis
- What should be entry strategies, countermeasures to economic impact, and marketing channels?
- What are market dynamics?
- What are challenges and opportunities?
- What is economic impact on market?
- What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
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Key Points Covered in V2X (Vehicle-to-Everything) Market Report:
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of V2X (Vehicle-to-Everything) market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with V2X (Vehicle-to-Everything) Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
……..and view more in complete table of Contents
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