The Automotive V2X Market is projected to grow at a CAGR of 44.2% to reach USD 12,859 million by 2028 from an estimated USD 689 million in 2020. The demand for safe and connected vehicles, increased EV sales, government regulations to curb emissions, and the need to reduce traffic congestion are driving the overall automotive V2X market. OEMs, in collaboration with automotive V2X players, have installed V2X in their models, which is expected to drive the growth of the automotive V2X market.
Top Players:
Qualcomm Technologies (US), Continental AG (Germany), Robert Bosch (Germany), Delphi Technologies (UK), NXP Semiconductors (Netherlands), Infineon Technologies (Germany), Denso Corporation (Japan), Harman International (US), STMicroelectronics (Switzerland).
Top Start-ups:
Autotalks (Israel), Cohda Wireless (Australia), Savari (US).
The V2V segment is expected to have the largest market share of the automotive V2X market, by communication
The V2V communication segment is expected to have the largest share of the automotive V2X market. V2V improves vehicle safety through features such as forward collision warning (FCW) and lane changing warning (LCW). The growing safety concerns among the public and government dues to increasing traffic accidents are an important driving factor for the growth of the automotive V2V market. The vehicle models equipped with V2V technology are Cadillac CTS and Mercedes-Benz E-Class, among others.
OBU is expected to hold the largest share of the automotive V2X market, by unit
The increase in sales of vehicles equipped with V2X is the key factor driving the OBU segment, as every vehicle will be equipped with OBUs for V2X communication. Some of the top players in the automotive V2X market offering OBUs are Denso, Cohda Wireless, and Savari, among others. OBUs are the main units used for all communications such as V2V, V2I, and V2P.
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Market Dynamics:
1 Drivers–
1.1 Increasing Demand for Fully Autonomous Driving and Safe Vehicles
1.2 Increasing Concerns Over Environmental Pollution Caused By Vehicles
2 Restraints–
2.1 Latency/Reliability Challenges
3 Opportunities–
3.1 Increase in Support From Government for V2X Technology 3.2 Advancements in 5G Technology
4 Challenges–
4.1 Vulnerability to Cyberattacks
Automotive V2X Market and Key Technology:
5G V2X – In the 5G-V2X standard, the features of the 5G network are combined with V2X. This standard was released in the 3GPP Release 15 in April 2019. The 5G-V2X supports precise ranging and positioning to support automated driving, low latency and high throughput connectivity, high throughput to build dynamic and local maps, and high reliability to support high density platooning.
LTE V2X – LTE-V2X is the standard in which the features of the LTE network are combined with V2X. The LTE-V2X was announced in the 3GPP Rel. 14, which was released in March 2017. The LTE-V2X has 2 operational modes—short range, which is a network less direct communication via PC5 interface, and long-range cellular network communication based on Uu radio interface.
C-V2X Chipset – Cellular-V2X (C-V2X) was introduced by 3GPP (3rd Generation Partnership Project) in its 3GPP release 14 in June 2017, as LTE-V2X. The C-V2X has two transmission modes, one of which offers V2V, V2P, and V2I, called short-range direct transmission mode (1 km) which operates in the mobile operator spectrum band, utilizing conventional mobile networks.
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