The global vehicle-to-everything (V2X) test equipment market was valued at US$ 442.8 million in 2018, and is expected to increase to reach US$ 4,639.4 million by 2027, exhibiting a CAGR of 20.8 % over the forecast period (2019-2027). According to Global Vehicle-to-everything (V2X) Test Equipment Market Report, by Device Type (Signal & Spectrum Analyzer, Simulator & Emulator, HIL Test System, and RF Conformance & Communication Test Equipment), by Service Type (System Integration, Support & Maintenance, and Consulting), by Connectivity Type (DSRC Connectivity and Cellular Connectivity), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), published by Coherent Market Insights.
In the recent past government of various countries and automobile manufacturers are focusing on developing V2X technology to improve the safety on road and manage the traffic flow. V2X testing plays an important role in commercializing V2X technology as this technology requires a stable wireless network, which helps to maximize the throughput of information, and increases driver safety. Furthermore, to develop a stable wireless link, the receiver should be able to detect the signal in the worst climate condition. To check these signals high-performance test equipment are required to analyze theV2X signals for accurate positioning. These factors are expected to drive demand for V2X test equipment during the forecasted period. Moreover automotive manufacturers and testing system developers are collaborating to commercialize the V2X technology, which is expected to fuel the market growth over the forecast period. For instance, In November 2019 Keysight Technologies Inc, a U.S.-based electronics test and measurement equipment manufacturer achieved 3rd Generation Partnership Project (3GPP) validation of the industry’s first C-V2X communications radio frequency (RF) conformance test.
Moreover, growing demand for intelligent transportation system to reduce the environmental damage and increase vehicle safety is expected to boost the Vehicle-to-everything (V2X) test equipment market growth during the forecast period, as development and evaluation of intelligent transportation system requires laboratory test to discover and solve issues related to signals, improving the efficiency of post-production field evaluations and helps in saving time and money, which would help the market to grow.
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Key Trends and Analysis of the Global Vehicle-to-everything (V2X) Test Equipment Market:
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