Vehicle-to-everything Market Scope
Vehicle to everything (V2x) is a vehicular communication system where vehicles convey and receive information to their surroundings for efficient operation. Automobile companies are coming up with new features keeping public safety, fuel efficiency and user friendliness in mind. V2x system offers direct communication over longer distance thus, providing a complete picture of highway environment, also, it improves non-line-of-sight performance allowing vehicles and drivers to see through obstructions. The incorporation of V2x technology is making the roads safer and enhancing the driving experience as well.
According to AMA, the Global Vehicle-to-everything market is expected to see growth rate of 18.7% and may see market size of USD63.4 Billion by 2026.
Carmakers are focusing on providing a way to control car’s infotainment system via voice. Manufacturers are trying to offer this solution through Apple (CarPlay), Google (Android Auto) and Amazon’s Alexa. Toyota is the latest manufacturer to introduce Amazon’s Alexa. With establishing a communication with Alexa, drivers and passengers will be able to control car’s infotainment system. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Vehicle-to-everything market throughout the predicted period.
Continental [Germany], Qualcomm [United States], NXP Semiconductors [Netherlands], Bosch [Germany] and Delphi [United Kingdom] are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are BMW [Germany], Audi AG [Germany], Infineon Technologies AG (Germany), Cisco Systems, Inc. [United States], Intel Corporation [United States], Vodafone Group PLC [United Kingdom], PTC Inc. [United States], General Motors. [United States] and Harman International Industries, Inc. [United States].
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Vehicle-to-everything market by Type (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Device (V2D), Vehicle-to-Grid (V2G) and Others) and Region with country level break-up.
On the basis of geography, the market of Vehicle-to-everything has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Japanese car maker Honda, in October 2018 demonstrated “smart intersection” technology for V2x communication design which helps reduce traffic collisions at roadway intersections. The technology, by using Honda’s object recognition software in conjunction with intersection mounted cameras and V2x communications, help car virtually to see through obstruction.
Market Trend
- Integration of Various Services with Cloud
- Growing Automated Cars Leads to Rising Focus on Vehicle to Vehicle Connectivity
Market Drivers
- Growing Demand for Real-time Traffic Management and Incident Alerts in Order to Increase Public Safety
- Government Emphasizing on Better Traffic Management
Opportunities
- Emergence of 5G Cellular Connectivity
- Growing Demand of Autonomous Cars
Restraints
- Lack of Cellular Connectivity in Emerging Countries
- Increasing Cost of Vehicles
Challenges
- Vehicle's Data Security and Cyber Threat
- Lack of Infrastructural Development in Emerging Countries
Key Target Audience
V2X technologies suppliers, Hardware modules suppliers, Automotive OEMs and Industry associations and experts