Automotive V2X Market is set to see healthy CAGR during 2019 to 2025

 Kiran Sable
  4th-Jul-2019
 363
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Automotive V2X Market is predicted to grow at substantial rate in the coming years led by increasing number of investments and R&D initiatives in the autonomous vehicle landscape. The automakers are investing in V2X technologies, such as LiDAR, as they view the technology as a key enabling factor for driving the growth of the autonomous vehicle market. The technology players, such as Apple and Google, are collaborating with auto manufacturers, such as BMW and Volkswagen, to develop new & cost-effective V2X technologies. These strategic initiatives led by automakers have led to the development of various advanced & cost-effective V2X technologies.

The North America region holds a major share in the automotive V2X market due to favorable government initiatives. The road safety organizations in the region have engaged in various activities to accelerate the innovation on automotive V2X landscape to improve transportation and road safety. Major players operating in the market have conducted many product testing initiatives to develop advanced versions of their existing V2X technology.

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The rising number of concerns among government bodies and road safety organizations toward improving the safety & security of passenger vehicles is further supplementing the growth of the automotive V2X market. The regulatory bodies across the globe are constantly working on augmenting the existing in-vehicle technologies and mandating the use of ADAS systems in vehicles. Government guidelines are encouraging car manufacturers to develop new & advanced V2X communications to comply with the safety mandates.

The communication mechanisms used for V2X communications are Vehicle to Pedestrian (V2P), Vehicle to Grid (V2G), Vehicle to Cloud (V2C), Vehicle to Vehicle (V2V), Vehicle to Infrastructure (V2I), and Vehicle to Device (V2D). The V2C communication mechanism helps vehicle owners, auto manufacturers, dealers, traffic authorities, network operators, and repair shops to interact with each other, enhancing their overall driving experience, while simultaneously improving road safety. The V2I mechanism allows wireless and bi-directional communication between infrastructure components, such as road signs, lane markings, and traffic lights, and the automobile. The automakers are increasingly investing in V2I technology to incorporate smart driving features in cars such as cruise control and lane keeping.

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Major players in the automotive V2X market are continental, Delphi Automotive, Intel, NXP Semiconductors, Qualcomm, Intel, Autotalks, Audi, TomTom, Robert Bosch, Infineon Technology, Daimler, and Harman International. The players operating in the space are collaborating with automakers to integrate their products into vehicles. For instance, in June 2018, Cadillac Inc., an automotive company owned by General Motors, announced that it is going to launch its V2X systems in its high-volume cross over cars by 2023. Similarly, Audi is presenting its V2I (Vehicle to infrastructure) ‘Traffic Light Information’ technology in Europe. Audi stated that from July 2019 onwards it will equip its new models with traffic lights in Germany. This system will allow Audi drivers to see exactly what speed they must maintain to reach to the next traffic light in green.

The companies present in the automotive V2X market are collaborating with other players working on the automotive V2X technology to expand their product portfolio and gain a market share. For instance, in March 2019, Unex Inc., an innovative order picking solutions provider, partnered with Autotalks Inc., a V2X solutions provider. This partnership will help Unex Inc. in implementing cyber secure, flexible, and cost-effective solutions.

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Domain: Electronics
Category: Business
Posted By: Kiran Sable and Contact Kiran Sable

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