The burgeoning demand for fully autonomous driving, rising advancements in 5G technology coupled with launch of various government program to surge the sales of electric vehicle and introduction of strict norms and regulation to curb emissions are some of the major factors projected to proliferate the growth of Global Automotive V2X market. Apart from this, growing need to reduce traffic congestion due to rising pollution, escalating use of electronics in the automotive space and robust urbanization and industrialization are the factors driving the growth of the market in the forecasted period.
According to MarkNtel Advisors’ research report “Global Automotive V2X Market Analysis, 2020”, the Global Automotive V2X market is anticipated to grow at a CAGR 45% during 2021-26F. Based on Connectivity Type, Cellular connectivity acquired the significant market share in 2020. The growth of the segment is attributed to significant surge in the number of trials/tests taking place worldwide along with it is cheaper and provides better performance in congest traffic.
Key questions answered in the study:
- What are the current and future trends of the Automotive V2X industry?
- How the industry has been evolving in terms of end-user demand and application areas?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Automotive V2X industry?
- What is the customer orientation, purchase behavior, and expectations from the Automotive V2X firms across various regions?
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“Global Automotive V2X Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Automotive V2X providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor’s capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Europe Acquired the Considerable Market Share
Europe acquired the considerable market share in the Global Automotive V2X market in 2020. This is due to introduction of various norms by the government regarding vehicle safety, rising technological advancement in infrastructure such as intelligent transport system (ITS) resulting in enhanced road connectivity and escalating demand for safety features in vehicle. Besides these, rise in digitalization and connected mobility in vehicle is surging the use of electronics, increasing environmental concern to reduce carbon emission and propelling demand for semi-autonomous vehicles equipped with advanced driver assistance systems (ADAS) are the key factors expected to proliferate the growth of the Automotive V2X Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Automotive V2X Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Automotive V2X market are Continental AG, Delphi Automotive LLP, Qualcomm, Inc., NXP Semiconductors, Robert Bosch GmbH, TomTom International B.V, HARMAN International, Mobileye, Cisco Systems, Inc., Infineon Technologies AG, Denso Corporation, Autotalks Ltd., Cohda Wireless, Neusoft Corporation, Huawei Technologies Co., Ltd. etc.