Automotive Vehicle-to-Everything (V2X) Market Worth 2,815.5 Million USD by 2022
PUNE, India, November 21, 2016 /PRNewswire/ --
According to the new market research the report "Automotive Vehicle-to-Everything (V2X) Market by Offering (Hardware, Software), Type (V2V, V2I, V2P, V2G, V2H, and V2N), Connectivity Type (DSRC and Cellular), Vehicle Type (Passenger and Commercial), Application - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to be valued at USD 767.5 Million in 2017 and is expected to reach USD 2,815.5 Million by 2022, at a CAGR of 29.69% between 2017 and 2022.
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Browse 67 market data Tables and 95 Figures spread through 207 Pages and in-depth TOC on "Automotive Vehicle-to-Everything (V2X) Market"
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The factors driving the automotive V2X market are demand for real-time traffic and incident alerts for increasing public safety, increasing financial aid from various government funds for better traffic management, and increased environmental concerns.
Software segment is expected to grow at the highest rate in the automotive V2X market
The market for software is expected to dominate the automotive V2X in 2017. With growth in V2X system deployment in automobiles there would be a growing requirement for safety, access, and control over the V2X system, which is expected to drive the market for software.
DSRC to grow at the highest rate in the automotive V2X market based on connectivity type
Major V2X system providers such as Delphi Automotive PLC (U.K.) and Denso Corporation (Japan) have been testing V2X systems based on DSRC connectivity and are ready to deploy it in automobiles. The companies backing DSRC connectivity for V2X system is expected to a major driver for automotive V2X market based on DSRC connectivity.
North America to hold the major market share of the automotive V2X market during the forecast period
North America is expected to dominate the Automotive V2X Market on a global level. The usage of four wheelers and heavy vehicles is very high in North America, which has resulted in a huge requirement for an effective transportation system. Also, the demand for cars has witnessed a boost recently with the convergence of the ICT sector, the automotive sector, and the transportation sector resulting in the emergence of the connected vehicle ecosystem. It is expected that the growth in the region would be the largest with regard to one of the major application areas of vehicle-to-vehicle communication.
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The major players in automotive V2X market are Continental AG (Germany), Qualcomm Inc. (U.S.), Daimler AG (Germany), Delphi Automotive PLC (U.K.), Infineon Technologies AG (Germany), Audi AG (Germany), Intel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), TOMTOM N.V. (Netherlands), IBM Corporation (U.S.), Cisco Systems Inc. (U.S.), AT&T Inc. (U.S.), Vodafone Group (U.K.), Robert Bosch GmbH (Germany), NVIDIA Corporation (U.S.), Mobileye N.V. (Israel), Harman International Industries (U.S.), PTC Inc. (U.S.), Autotalks Ltd. (Israel), and Cohada Wireless (Australia).
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