The latest report on V2X Market by Infinium Global Research gives complete coverage of the v2x market by components (hardware, software), communication type (vehicle-to-vehicle (V2V), vehicle-to-network (V2N), vehicle-to-infrastructure (V2I)), connectivity type (DSRC, cellular connectivity), vehicle type (commercial vehicles, passenger cars), propulsion type (ICES and EV) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of v2x such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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V2X Technology Allows the Vehicle to Communicate with Moving Parts of The Traffic System Around the Vehicle
Transportation is a fundamental factor that contributes to economic growth and quality of life. Vehicle-to-X refers to an intelligent transport system where all vehicles and infrastructure systems are interconnected with each other. This connectivity helps to optimize traffic flows, minimize emissions, Reduce traffic congestion and Cut accident numbers. The V2X is based on Dedicated Short-Range Communications (DSRC) or the cellular connectivity that uses wireless technology that enables data exchange between a vehicle and its surroundings. V2X technology allows the vehicle to communicate with moving parts of the traffic system around the vehicle.
The V2X technology offers several types of communications including V2I (Vehicle-to-Infrastructure), V2N (Vehicle-to-network), V2V (Vehicle-to-vehicle), V2P (Vehicle-to-Pedestrian), V2D (Vehicle-to-device) and V2G (Vehicle-to-grid). V2X technology uses a 5.9 GHz dedicated short-range communications band with Wi-Fi. Wi-Fi connectivity is an important part of the V2X technology as they enable the establishment of a reliable radio link, even in non-line-of-sight conditions. The V2X shared information to the driver about surrounding vehicle speed and infrastructure will further help the driver to avoid the collision.
The traffic road intersections are getting more complex nowadays. It generates high demand for more intelligent control solutions that help to minimize traffic problems in an efficient way. The growing demand for a more efficient and real-time traffic management system drives the growth of the V2X market. V2X technology enhances traffic efficiency and smarter transportation management by providing upcoming traffic congestions and suggesting alternative routes.
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Growing Applications of V2X in the Rail, Ship and Airplane Transportation Are Projected to Create Various Growth Opportunities
In addition, various government agencies are taking initiatives to adopt V2X technology to provide safety and better traffic management. In addition, the growing use of electronics system in the vehicles to improve vehicle performance and passenger comfort are likely to contribute to the growth of the V2X market. Another use for V2X is to help you find parking in crowded areas by using the vehicle’s cellular connectivity and can display the locations of nearby available parking spaces on their navigation systems in real-time. However, data security concerns and the cellular connectivity problems across the developing region are hampering the growth of the V2X market.
Moreover, the growing adoption of autonomous cars and ongoing research and developments in the automotive sector are projected to create various opportunities for companies working in this technology over the forecast period. The growing applications of V2X in the rail, ship and airplane transportation are projected to create various growth opportunities in the near future.
Among the geographies, North America is the largest region in the V2X market followed by Europe. The growing demand for the efficient and improved traffic transportation system. The factors such as better infrastructure, easy adoption of new technologies and favorable government policies contribute to the growth of the V2X technology market in North America.
In addition, Europe is the second-largest region in the V2X market. The increased concern about the safety and the growing need for traffic management in Europe drivers the growth of the V2X market in this region. Moreover, Asia Pacific is the fastest-growing region in the V2X market owing to the rapidly growing automotive industry, the presence of various top players and the increasing adoption of new technologies.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the v2x.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.