Automotive V2X Market to grow at a CAGR of 38.2 percent to reach USD 25.02 Bn by 2029
Industrialization and urbanization have risen as a result of the fast economic growth in various developed countries around the world.
(EMAILWIRE.COM, April 06, 2023 ) As per Maximize Market research, the total global market for “Automotive V2X Market” was USD 1.88 Bn in 2021 and is expected to grow at a CAGR of 38.2 percent over the forecast period to reach USD 25.02 Bn by 2029.
Automotive V2X Market Report Scope and Research Methodology
The report includes an in-depth region-wise and segment-wise analysis of the Automotive V2X Market size and share. The data for the report is gathered by using both the research methodologies that are primary and secondary and the data collected through research was combined for accurate inference.
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Automotive V2X Market Dynamics
The Automotive V2X Market is driven by increasing collaboration and innovations in connected vehicle technology, rapid urbanization and industrialization and increasing advancements in cellular V2x technology combined with 5G and AI technology. The market growth is hampered by the lack of Infrastructure.
Automotive V2X Market Regional Insights
During the forecast period, Asia Pacific is expected to dominate the market with the largest market share. The regional market growth is driven by the growth in the automotive industry, the increasing purchasing power of people and growing environmental concerns.
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Automotive V2X Market Segmentation
By vehicle type
Commercial
Passenger
By application
Predictive Maintenance
Remote Monitoring and Diagnostics
Parking Management System
Fleet and Asset Management
Passenger Information System
Emergency Vehicle Notification
Intelligent Traffic System
Automated Driver Assistance
By communication type
Vehicle-to-Vehicle
Vehicle-to-Network
Vehicle-to-Home
Vehicle-to-Grid
Vehicle-to-Pedestrian
Vehicle-to-Infrastructure
By offering
Hardware
Software
By connectivity type
Cellular
DSRC
Automotive V2X Market Key Competitors include:
Intel Corporation (US)
Qualcomm Technologies Inc.(US)
Nvidia Corporation(US)
Autotalks ltd. (Israel)
Cohda Wireless (Australia)
Continental AG(Germany)
Daimler AG(Germany)
Audi AG(Germany)
Robert Bosch GmBH (Germany)
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Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
V2X Cybersecurity Market- The market size is expected to reach USD 4.60 Bn by 2029 at a CAGR of 18.3 percent during the forecast period.
Automotive LiDAR Sensor Market- The Market size is expected to reach USD 2.09 Bn by 2029 at a CAGR of 24.55 percent during the forecast period.
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