Increasing Demand For Self-Driving Vehicles Improved The Automotive V2X Market Growth
The Business Research Company’s Automotive V2X Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, February 23, 2022 /EINPresswire.com/ — The increasing demand for fully autonomous vehicles is expected to propel the growth of the global automotive V2X market in the coming years. Autonomous vehicles are defined as self-driving vehicles that move without any human intervention or require very little human intervention. V2X offers an advantage in automatic vehicles since it delivers information about objects that other sensors are unable to detect. Also, it can improve traffic efficiency by giving information about traffic signals. Thus, the increasing demand for fully autonomous vehicles drives the growth of the automotive V2X market.
In February 2021. Harman International, a USA-based company focused on connected devices for automotive in customer and enterprise markets acquired the resources of Savari, Inc. for an undisclosed amount. With the acquisition of Savari, Harman International aims to improve its car telematics and Advanced Driving Assistance Systems (ADAS) related to the automotive v2x market, and extend the organization’s qualities in 5G Edge, Multi-Access Edge Computing (MEC). Savari is a USA-based automotive innovation company creating new technologies in vehicle-to-everything technology (V2X) and 5G Edge markets.
Read more on the Global Automotive V2X Market Report:
https://www.thebusinessresearchcompany.com/report/automotive-v2x–global-market-report
The global automotive V2X market size is expected to grow from $619.42 billion in 2021 to $854.99 billion in 2022 at a compound annual growth rate (CAGR) of 38.0%. The change in the market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The automotive V2X market share is expected to reach $2907.53 billion in 2026 at a CAGR of 35.8%.
Automotive V2X market trends include the growing technological advancements such as LTE-V2X technology which is gaining popularity in the market. LTE-V2X technology is an innovative information and communication technology that is used in road transportation systems to allow information to be exchanged between vehicles, humans, networks, and infrastructure. Major companies operating in the automotive V2X sector are focused on developing LTE-V2X technology to strengthen their position. For instance, in 2019, Qualcomm, a US-based semiconductor company launched a Snapdragon automotive 4G platform, which is a 6th generation multimode LTE modem with integrated V2X technology used for automotive vehicles. Vehicle-to-vehicle (V2V) and vehicle-to-roadside infrastructure (V2I) communications for safety, high bandwidth, and low latency teleoperations, precision location, and multi-gigabit cloud connectivity are all advantages of these platforms.
Major players covered in the global automotive V2X industry are Autotalks Ltd., Continental AG, Denso Corporation, Harman International, Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies Inc., Robert Bosch, Cohda Wireless, STMicroelectronics, TE Connectivity Ltd., Qorvo Inc., Ford Motor Company, Danlaw Inc., and Amphenol Corporation.
TBRC’s global automotive V2X market report is segmented by technology into emergency vehicle notification, automated driver assistance, passenger information system, line of sight, others, by vehicle type into passenger cars, commercial vehicles, by connectivity into DSRC, Cellular, by communication into vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), vehicle-to-grid (V2G), vehicle-to-cloud (V2C), vehicle-to-device (V2D).
Automotive V2X Global Market Report 2022 – By Technology (Emergency Vehicle Notification, Automated Driver Assistance, Passenger Information System, Line of Sight), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Connectivity (DSRC, Cellular), By Communication (Vehicle-To-Vehicle (V2V), Vehicle-To-Infrastructure (V2I), Vehicle-To-Pedestrian (V2P), Vehicle-To-Grid (V2G), Vehicle-To-Cloud (V2C), Vehicle-To Device (V2D)) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a automotive V2X market overview, forecast automotive V2X market size and growth for the whole market, automotive V2X market segments, geographies, automotive V2X market trends, automotive V2X market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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