Vehicle-to-Everything (V2X) Communication System Market by Vehicle Type and Geography - Global Forecast and Analysis 2019-2023
Global Vehicle-to-Everything (V2X) Communication System Market: About this market
V2X communication system is a combination of hardware and software, which enables vehicles to communicate with other entities for real-time information exchange through the Internet. Technavio’s vehicle-to-everything communication system market analysis considers the revenues generated based on types that include passenger vehicle and commercial vehicle. Our analysis also considers the sales of vehicle-to-everything communication system in North America, Europe, APAC, South America, and MEA. In 2018, the passenger vehicle segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the strong demand from emerging countries will play a significant role in the passenger vehicles segment to maintain their market position. Also, our global V2X communication system market report looks at factors such as the smart road infrastructure, increasing popularity of autonomous vehicles, and the increasing adoption of technologically advanced mobile devices. However, the need to maintain strict standards, system reliability and uncertainty in user acceptance, and data privacy and security concerns may hamper the growth of the vehicle-to-everything communication system industry over the forecast period.
Global vehicle-to-everything communication system market: Overview
Increasing popularity of autonomous vehicles
Autonomous vehicles are gaining immense popularity in the global automotive market with companies constantly bringing new technologies to improve their performance. V2X communication systems are expected to become a common feature in autonomous vehicles as they can establish a communication medium between vehicles, networks, homes, and grids. Thus, the growing popularity of autonomous cars will fuel the growth of the V2X communication system market at a CAGR of more than 16% during the forecast period.
Increasing emergence of autonomous cab and parcel delivery fleets
The automotive industry has recently witnessed the emergence of autonomous cabs and parcel delivery fleets, which is gaining immense popularity across the world. These vehicles generate massive data on routes, areas with the highest requirement for services, and others. V2X communication devices along with Big data analytics are integrated into these vehicles to analyze the data. Thus, the emergence of autonomous cabs and parcel delivery fleets will fuel the growth of the market during the forecast period.
For the detailed list of factors that will drive the global vehicle-to-everything communication system market during the forecast period 2019-2023, click here.
With the presence of several major players, the global vehicle-to-everything communication system market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading vehicle-to-everything communication system manufacturers, that include Cisco Systems Inc., Continental AG, Delphi Technologies Plc, Qualcomm Inc., and Robert Bosch GmbH.
Also, the vehicle-to-everything communication system market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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