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Vehicle-to-everything (V2X) is the technology, which enables cars to communicate with their surroundings by passing the information from one vehicle to other vehicle or any object and vice versa. It is a vehicular communication system that includes different types of communication systems such as V2I (Vehicle-to-Infrastructure), V2V (Vehicle-to-vehicle), V2P (Vehicle-to-Pedestrian), V2N (Vehicle-to-network), and V2G (Vehicle-to-grid),.

Rising concerns regarding safety is the major factor driving growth of the global V2X communication market

Rising concerns regarding safety has led to adoption of connected vehicles and this is a major factor driving growth of the market. Connected vehicles are equipped with communication systems, which aids in reducing the risk of an accident. Communication systems in vehicles deliver a definite information of traffic situation across the road network. Moreover, it helps in obtaining information of traffic flows and in turn aids in reducing vehicles congestion. This also reduces the possibility of road accidents. For instance, according to World Health Organization (WHO), an estimated 1.25 million road accidents occurred globally in 2013. Therefore, people are increasingly concerned and cautious regarding road safety, which is expected to aid in growth of the global V2X communication market.

Limited functionality of sensors is expected to restrain growth of the market

Major factor expected to restrain the market growth is limited functionality of sensors used in the V2X communication. V2X communication is dependent on sensors, microcontrollers, and semiconductors for its functioning. Sensors are responsible for detecting the information and convey the information to an Electronic Control Unit (ECU). This ECU, processes the data through an algorithm, and helps in assisting the driver by providing information related to traffic, pedestrian, and road condition, among others. However, these sensors have limited functionality, and this factor is expected to negatively impact of market growth.

Moreover, building a secure system with certified privacy, authenticity, and security for all types of V2X communication is also a major challenge faced by vendors in the market.

Passenger cars segment is expected to dominate and hold the largest market share over the forecast period

Passenger cars is expected to account for the largest share in the global V2X market during the forecast period. Increasing GDP is a factor expected to drive growth of passenger cars segment. For instance, according to the World Bank Group, GDP per capita has increased globally from US$ 9,509.4 in 2010 to US$ 10,150.8 in 2016. This is an indicator of increasing standard of living, which has significant impact on affordability and expenditure on luxury vehicles. These luxury cars are pre-fitted with advanced embedded systems, which includes collision warning systems, blind spot warning systems, emergency electric brake warning systems, and intersection movement assists, among others. This, in turn, is expected to lead to high growth of the global V2X market.

Advent of autonomous vehicles is expected to be the major growth opportunity

Advent of autonomous vehicle creates a growth opportunity for key players in the global vehicle-to-everything market. For instance, according to IHS Markit—an automotive database provider— the global autonomous vehicles sales is expected to surpass 600,000 units by 2025, increasing at a CAGR of 43% between 2025 and 2035. Furthermore, according to IHS Markit, autonomous vehicle sales in China is expected to reach around 5.7 million by 2035 and in the U.S. to around 4.5 million vehicles.

Key players in the automotive industry are focusing on offering enhanced safety features in their vehicles. For instance, Volkswagen Arteon comprises safety features including front airbag, knee airbag, side head airbag, side chest airbag, and child protection system. This car is rated 85% for pedestrian safety and 82% for safety assistant, by The European New Car Assessment Programme, in 2018, which is the highest rated car for pedestrian safety in 2018.

However, increase in autonomous vehicle sales is expected to further create a growth opportunity for global vehicle-to-everything market over the forecast period.

Global V2X Communication Market: Regional Insights

North America market is estimated to account for the largest market share in 2017. The U.S. and Canada are the major growth engines in North America market. This growth is owing to increasing initiatives by the U.S. government towards improvement of traffic within the country accounting for the safety aspect. For instance, the America's Surface Transportation Act or 'FAST Act' was passed in 2015, in order to enhance the transportation within the country, improve working efficiencies in transportation systems & commercial vehicles, and minimize vehicle emissions. This is expected to positively affect growth of the market.

Global V2X Communication Market: Competitive Background

Major players operating in the V2X communication market are Delphi Automotive Plc, Aptiv PLC, Autotalks Ltd., Continental AG, Qualcomm Inc, Infineon Technologies A., Robert Bosch GmbH, , Harman International Industries Inc. Cisco Systems Inc., Infineon Technologies AG, Mobileye NV, Marben Products, Sasken Technologies Ltd, Siemens Mobility GmbH and Denso Corporation. 

Global V2X Communication Market: Taxonomy

On basis of the component, the market is segmented into:

  • Hardware
  • Software
  • Services

On basis of the communication type, the market is segmented into:

  • Vehicle-to-Vehicle (V2V)
  • Vehicle-to-Network (V2N)
  • Vehicle-to-Pedestrian (V2P)
  • Vehicle-to-Infrastructure (V2I)

On basis of the vehicle type, the market is segmented into:

  • Passenger Car
  • Light Commercial Vehicle
  • Medium and Heavy Commercial Vehicle (M&HCV)

On basis of the Application, the market is segmented into:

  • Fleet Management
  • Intelligent Traffic System
  • Parking Management System
  • Automated Driver Assistance
  • Emergency Vehicle Notification

On basis of the Technology, the market is segmented into:

  • Dedicated Short-range Communications (DSRC)
  • Cellular Vehicle-to-everything (C-V2X)

On basis of the region, the market is segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Global V2X Communication Market: Key Developments

In February 2019 Autotalks Ltd. which is an Israel based Semiconductor Company dedicated to vehicle-to-everything (V2X) communications collaborated with MediaTek Inc. for designing Telematics Control Unit (TCU) which is integrated with a global V2X chipset.

In January 2019 Continental AG which is an automotive manufacturing company developed global 5G-Hybrid-V2X solution which enabled access to 4G and 5G networks, and dedicated short-range communication (DSRC).

In February 2019 Cisco Systems, Inc. developed a communication-based safety applications known as 'forward-collision warning' and 'blind 'intersection warning' for Cellular-Vehicle-to-Everything (C-V2X) equipped vehicles.

In June 2018 Qualcomm Technologies, Inc., announced a strategic collaboration with Ford, Panasonic & Colorado Department of Transportation (CDOT), for deployment of first C-V2X technology in U.S.

In July 2018 Siemens AG announced that they have enhanced their ESCoS Roadside Unit (RSU) by adding new capabilities such traffic congestion and travel time gathering capability through their new cloud application called Siemens Travel Sense


Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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