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Automotive V2X Market
The Automotive V2X Market size is projected to reach USD 7,925 Million by 2027, from USD XX Million in 2020 growing at a CAGR of 47.8% during 2021-2027.
Market definition, market segmentation, key developments in the market, competitive analysis and research methodology are the major topics in which this Automotive V2X market research report is divided. This market research provides clients with the information on their business scenario with which they can build business strategies to thrive in the market. The report covers all the market shares and approaches of the major competitors or the key players in the market. Each of the topics covered in the Automotive V2X market analysis report is studied very well to get clear idea about all the factors that are influencing the market growth.
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Vehicle to everything (V2X) is a technology that helps increase road safety by means of advanced technological improvements in automotive electronics. V2X is based on the concept of intelligent transport system (ITS) and helps in efficient traffic management. V2X technology enables a vehicle to communicate with the neighboring vehicles, any obstacles such as pedestrian, infrastructure, and even with a vehicle out of sight or any other elements in a traffic-congested area.
The rapidly expanding automotive sector across the world is expected to drive the automotive V2X market during the forecast period. Vehicles operating with some degree of automation that are running alongside each other are likely to lead to accidents if the vehicles are not able to detect a human-driven vehicle crossing it. Thus, the rising demand for semi-autonomous vehicles that are equipped with advanced driver assistance systems (ADAS) and the increasing efforts by OEMs (original equipment manufacturers) to develop autonomous vehicles at the earliest is anticipated to further propel the automotive V2X market in the near future.
Increasing number of road accidents is fueling the need for increased public safety and rising government support for improving traffic management is expected to further boost the automotive V2X market in the next few years. V2X technology also aids in avoiding traffic congestion and thus, helps reduce excessive fuel consumption and vehicular emissions. Technological advancements in the field of automotive electronics such as cloud technology are being used for vehicle platooning. This is likely to fuel the automotive V2X market during the forecast period.
The hardware and software services associated with automotive V2X technology are considerably expensive and thus, key manufacturers are facing an issue of cost reduction while implementing vehicle-to-vehicle connectivity. This is anticipated to restrain the automotive V2X market to some extent during the forecast period.
The global Automotive V2X Market can be segmented based on communication type, offering type, vehicle, electric vehicle, sales channel, and region. In terms of communication type, the automotive V2X market can be segmented into V2V (vehicle-to-vehicle), V2I (vehicle-to-infrastructure), V2P (vehicle-to-pedestrian), V2C (vehicle-to-cloud), V2D (vehicle-to-device), V2G (vehicle-to-grid), and V2M (vehicle-to-motorist). V2V, V2I, and V2P segments are anticipated to expand at a rapid pace owing to the increasing awareness about public safety and security among governments of various nations across the world.
Based on the offering type, the automotive V2X market can be segregated into hardware and software. The software segment is expected to expand at a significant growth rate during the forecast period.
Based on vehicle type, the automotive V2X market can be classified into passenger vehicles and commercial vehicles. The passenger vehicles segment is estimated to expand at a remarkable growth rate during the forecast period owing to the rising public preference for passenger vehicles in recent years.
Based on electric vehicles, the automotive V2X market can be classified into battery electric vehicle (BEV), plug-in electric vehicle (PEV), and hybrid electric vehicle (HEV). The battery electric vehicle segment is anticipated to expand at a rapid pace during the forecast period owing to the comparatively high cost of hybrid electric vehicles and the increasing consumer preference towards the use of BEVs, which are fully electric vehicles over other types of electric vehicles such as PEV and HEV.
In terms of sales channel, automotive V2X market is categorized as: original equipment manufacturer (OEM) and aftermarket. There are global key players in the production of the V2X system. Most of the consumer prefer local producer in order to replace the V2X system, which reduce replacement cost. The OEM segment is expected to dominate in the forecast period.
Based on geographical region, the automotive V2X market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to lead the global automotive V2X market during the forecast period owing to the rapid technological advancements in the field of vehicle-to-vehicle connectivity in the region, increasing disposable income of people, the rising public preference toward vehicles equipped with high-tech features such as vehicle-to-vehicle connectivity, and the increasing concern about reducing excessive fuel consumption in the region. North America is expected to be followed by Europe. Expansion of the automotive V2X market in Europe at a high growth rate is ascribed to the increasingly stringent norms and regulations regarding public safety and security and improved fuel-efficiency of vehicles, which are laid down by the European Union.
Key players operating in the global automotive V2X market include Continental AG, Qualcomm, Delphi Automotive PLC, NXP Semiconductors N.V., Robert Bosch GmbH, Infineon Technologies AG, and Tomtom N.V.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in MarketDigits reports, recent market/vendor-specific changes may take time to reflect in the analysis.
This study by MarketDigits is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
North America
Asia Pacific
Europe
Latin America
The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at MarketDigits adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by MarketDigits are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at MarketDigits helps you break down the complex scenario and bring resiliency in uncertain times.
This report would help you answer the following questions:
1. What is the market size and forecast of the Global Automotive V2X Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Automotive V2X Market during the forecast period?
3. Which region outstands in the Global Automotive V2X Market?
4. Which are the segments to invest in over the forecast period in the Global Automotive V2X Market?
5. What is the competitive strategic window for opportunities in the Global Automotive V2X Market?
6. What are the technology trends and regulatory frameworks in the Global Automotive V2X Market?
7. What are the major company in the Global Automotive V2X Market?
Table of Contents:
1 Introduction
2 Research Methodologies
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Compliance in Automotive V2X Market
8 Automotive V2X Market, By Service
9 Automotive V2X Market, By Deployment Type
10 Automotive V2X Market, By Organization Size
11 Automotive V2X Market Analyses, By Vertical
12 Geographic Analyses
North America
Europe
Asia-Pacific
South America
Middle East & Africa
13 Competitive Landscapes
14 Detailed Company Profiles
15 Related Reports
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This release was published on openPR.
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