V2X Communication Market Shows Boosted Growth Rate 2018-2026 Estimated by Global Top Players

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Vehicle-to-everything (V2X) is the technology, which enables cars to communicate with their surroundings by passing the information from one vehicle to other vehicle or any object and vice versa. It is a vehicular communication system that includes different types of communication systems such as V2I (Vehicle-to-Infrastructure), V2V (Vehicle-to-vehicle), V2P (Vehicle-to-Pedestrian), V2D (Vehicle-to-device), V2G (Vehicle-to-grid), V2H (Vehicle-to-home), V2N (Vehicle-to-Network), and V2C (Vehicle-to-Cloud).

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Rising concerns regarding safety is the major factor driving growth of the global V2X communication market

Rising concerns regarding safety has led to adoption of connected vehicles and this is a major factor driving growth of the market. Connected vehicles are equipped with communication systems, which aids in reducing the risk of an accident. Communication systems in vehicles deliver a definite information of traffic situation across the road network. Moreover, it helps in obtaining information of traffic flows and in turn aids in reducing vehicles congestion. This also reduces the possibility of road accidents. For instance, according to World Health Organization (WHO), an estimated 1.25 million road accidents occurred globally in 2013. Therefore, people are increasingly concerned and cautious regarding road safety, which is expected to aid in growth of the global V2X communication market.

Global V2X Communication Market: Regional Insights

North America market is estimated to account for the largest market share in 2017. The U.S. and Canada are the major growth engines in North America market. This growth is owing to increasing initiatives by the U.S. government towards improvement of traffic within the country accounting for the safety aspect. For instance, the America’s Surface Transportation Act or ‘FAST Act’ was passed in 2015, in order to enhance the transportation within the country, improve working efficiencies in transportation systems & commercial vehicles, and minimize vehicle emissions. This is expected to positively affect growth of the market.

Global V2X Communication Market: Competitive Background

Major players operating in the V2X communication market are Continental AG, Volkswagen AG, Toyota Motor Corporation, General Motors Company, Qualcomm, NXP Semiconductors N.V., Robert Bosch GmbH, Tomtom NV, Savari Inc., Cisco Systems Inc., Infineon Technologies AG, and Denso Corporation.

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About Author

Amy Carpenter is a reporter for Plains Gazette. She's worked and interned at Huffington Post and Vanity Fair. Amy is based in Arlington and covers issues affecting her city. In addition to her severe oyster addiction, she's a Netflix enthusiast, a red wine drinker, and a voracious reader.