Automotive vehicle-to-everything Market Revenue, USD Billion, 2015 - 2026

Market size of global automotive vehicle-to-everything was USD 2.83 billion and it is expected to grow considering the feature like automobile safety and superior traffic management. The industry is moving towards sustainable growth. Vehicular communication system incorporates more specific type of communication such as V2I, V2V, V2P, V2D, and V2G. The convenience aspect of vehicles has increased due to safety features and communication technology. The consumer demands for safety has increased and it act as driver for this industry’s market growth.

Technological advancement has lead to driverless and automatic cars which is still under research stage and its commercialization is expected soon. Driverless transportability can be achieved with the help of V2X communication technologies. V2X is all about communicating with automobiles which will have potential threat like hacking and manipulation. Security feature thus become a important factor for growth of this market. This technology is based on WLAN and it works between vehicles within each other’s range. Key aspect for implementing these technologies will be a definite framework for its integration.

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Rise in disposable income of people of various economies can be one driver for growth of automotive industry. India and china has seen a significant increase in sale of automobile in recent years. Traffic congestion have arise due to increase in n umber of passenger vehicle that also have lead to issues such as fuel consumption, emission and air pollution. These restraints for diesel engine can act as drivers for automotive V2X market

Communication Type Insights

Safety features like Adaptive cruise control, lane change assist and blind spot are covered in automotive V2X communication. Real time traffic and incident alert are other parameters for increasing public safety. This feature will become mandatory in future looking at strictness in safety regulations. V2X is expected to dominate market in upcoming period. By combining V2I and V2N communication we can solve traffic problem and emission issues. Facilities such as e-parking and automated toll payment will also observe a convincing growth.

Connectivity Type Insights

At present Dedicated short range connectivity (DSRC) is used in cars. The cost benefit of DSRC over cellular connectivity will drive this market. Ease of implementation on other hand will create opportunities for automotive market. Benefits can be decrease in number of accidents by providing real-time information to drivers with the help of sensor and connectivity.

Cellular connectivity can be used for covering large area but it has some limitations. It will require more time for deployment for covering considerable range. The hardware required in V2X technology is expensive. The V2X technology considering above points still have strong growth potential in near future. Synchronized real time data will be important factor of this segment.

Vehicle Type Insights

Passenger car in this segment is predicted to dominate market as it did in 2015. Despite this the demand for commercial vehicle is high than passenger car. Boom in construction sector have increased commercial vehicle sale by approx. 6% from 2015 to 2016. Asia pacific has emerged a hub for automotive production. The need for safety in Commercial vehicle is high due to more travel time that will drive the automotive V2X market. The growth rate will be 30% in this segment over the forecasted period.