The
global V2X Market, according to a new
research report published by Market Research Future (MRFR), is poised to record
a considerable market valuation at a modette CAGR over the assessment period.
Drivers and Restraints
The
V2X Market has observed remarkable growth in recent times, primarily due to the
start of advanced technology in automobiles as innovative driver assistance methods.
Rapidly growing safety concerns among consumers, and increased emphasis by the
insurance corporations, the market for V2X is predicted to register a high
growth rate. Increasing demand for vehicles and the continually growing
production is expected to have a significant contribution in the V2X Market. Rapid
developing infrastructure across the globe to accommodate the altering tide in
the automotive industry will have a promising impact on the V2X Market. Furthermore,
growing demand for real-time traffic data and the expansion of connected
vehicles are projected further to enhance the need for V2X in the market. With
government authorities framing policies to backing major automotive producers
to push for technological improvement, the demand for V2X is slated for notable
growth over the review period.
On
the other hand, the high primary cost connected with V2X is likely to act as a significant
limiting factor in the global V2X Market over the foreseeable future.
Segmental Analysis
The
global market for V2X has been analyzed on the
basis of propulsion, communication type, and component type. Based on the
communication type, the V2X Market has been segmented into V2C, V2V, V2G, V2P, V2D,
and V2I. Based on the component type, the V2X Market has been segmented as
Hardware and Software. Based on the propulsion type, the global V2X Market has
been bifurcated into E.V. and ICE.
Regional Overview
On
the basis of region, the global V2X Market has been analyzed in North America, Middle
East & Africa, Asia Pacific, Europe, and Latin America.
Additionally, the Asia Pacific region is one of the key regional markets across
the world for V2X and is slated to record a considerable market share through
the review period. The V2X Market is presently thriving in the Asia Pacific
region. The increasing vehicle manufacture in this region is one of the major
driving factors for the growth of the market. Improving infrastructure in this
region, along with emerging living standards, has positively impacted the
automotive industry as a whole. Increasing The availability of vehicle
electrification in the Asia Pacific region is also anticipated to impact the V2X
Market positively. The low-cost labor in the Asia Pacific has also been a
critical factor in the V2X Market. Furthermore, the rapidly growing automotive
infrastructure in this region is anticipated to lay the foundation for the swift
expansion of the automotive industry.
North
America and Europe are the two other substantial regions, primarily due to the
established automotive industry in these regions. The presence of primary producers
in the developed economies of these regions is also a key driver for the V2X
industry. Growing investment in research and development allows producers in
this region to create new methods and products to tap capitalizing on the impending
market trends.
The
automotive industry in Latin America and the Middle East is at a promising
stage, which offers favorable conditions for V2X Market growth. The market for
V2X is predicted to have steady growth over the review period. These regions
are likely to be profitable in the foreseeable future, with numerous automotive
manufacturers growing investments to capitalize on the ample demand in these
regions.
Competitive Analysis
The
key market players identified by MRFR in the global V2X Market are NXP
Semiconductors (Netherlands), Continental (Germany), Delphi Automotive (U.K.), Qualcomm
(U.S.), and Robert Bosch (Germany).
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