automotive V2X market is expected to dominate in upcoming period.
Market
size of global AutomotiveVehicle-to-Everything was USD 2.83 billion and it is expected to grow
considering the feature like automobile safety and superior traffic management.
The industry is moving towards sustainable growth. Vehicular communication
system incorporates more specific type of communication such as V2I, V2V, V2P,
V2D, and V2G. The convenience aspect of vehicles has increased due to safety
features and communication technology. The consumer demands for safety has
increased and it act as driver for this industry’s market growth.
Technological
advancement has lead to driverless and automatic cars which is still under
research stage and its commercialization is expected soon. Driverless
transportability can be achieved with the help of V2X communication
technologies. V2X is all about communicating with automobiles which will have
potential threat like hacking and manipulation. Security feature thus become a
important factor for growth of this market. This technology is based on WLAN
and it works between vehicles within each other’s range. Key aspect for
implementing these technologies will be a definite framework for its
integration.
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Rise
in disposable income of people of various economies can be one driver for
growth of automotive industry. India and china has seen a significant increase
in sale of automobile in recent years. Traffic congestion have arise due to
increase in n umber of passenger vehicle that also have lead to issues such as
fuel consumption, emission and air pollution. These restraints for diesel
engine can act as drivers for automotive V2X market
Communication Type Insights
Safety
features like Adaptive cruise control, lane change assist and blind spot are
covered in automotive V2X communication. Real time traffic and incident alert
are other parameters for increasing public safety.
This
feature will become mandatory in future looking at strictness in safety
regulations. V2X is expected to dominate market in upcoming period. By
combining V2I and V2N communication we can solve traffic problem and emission
issues. Facilities such as e-parking and automated toll payment will also
observe a convincing growth.
Connectivity Type Insights
At
present Dedicated short range connectivity (DSRC) is used in cars. The cost
benefit of DSRC over cellular connectivity will drive this market. Ease of
implementation on other hand will create opportunities for automotive market.
Benefits can be decrease in number of accidents by providing real-time
information to drivers with the help of sensor and connectivity.
Cellular
connectivity can be used for covering large area but it has some limitations.
It will require more time for deployment for covering considerable range. The
hardware required in V2X technology is expensive. The V2X technology considering
above points still have strong growth potential in near future. Synchronized
real time data will be important factor of this segment.
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Vehicle Type Insights
Passenger
car in this segment is predicted to dominate market as it did in 2015. Despite
this the demand for commercial vehicle is high than passenger car. Boom in
construction sector have increased commercial vehicle sale by approx. 6% from
2015 to 2016. Asia pacific has emerged a hub for automotive production.
The
need for safety in Commercial vehicle is high due to more travel time that will
drive the automotive V2X market. The growth rate will be 30% in this segment
over the forecasted period.
Regional Insights
It
is estimated that North America will have largest market share in automotive
V2X market. Canada and U.S. in this region will adopt technology with ease due
to its infrastructure and technological advancement. This region has approx.
26% of population of world running on road. High rate of greenhouse emission
and traffic congestion are serious issues in this region. The implementation of
V2X system will act as solution to these problems acting as important driver
for growth of this market.
The
automotive industry in Europe is governed by rigorous safety and emission
norms. Features such as cruise control, blind spot detection and lane assist
uses V2V communication and will enable growth of automotive V2X market in
future.
Competitive Insights
At
present the companies that have made great technological advancement dominate
the market. Strong global presence and diversified product portfolio are two
factor to hold their market share in automotive V2X industry. Delphi Automotive
PLC (U.k), Continental AG of Germany, Qualcomm Inc of U.S, Cisco Systems are
some major players in market among others. Different vendors offer different
products and services. Mergers and acquisition will help them to cover large
market share. In 2016, SAIC motors have signed an agreement with Savari Inc to
manufacture and distribute V2X solution in China and ASEAN countries.
Market Segment:
Automotive
V2X Communication Type Outlook (Revenue, USD Million; 2014 - 2025)
• Vehicle-To-Vehicle (V2V)
• Vehicle-To-Infrastructure (V2I)
• Vehicle-To-Pedestrian (V2P)
• Vehicle-To-Home (V2H)
• Vehicle-To-Grid (V2G)
• Vehicle-To-Network (V2N)
Automotive
V2X Connectivity Type outlook (Revenue, USD Million; 2014 - 2025)
• DSRC
• Cellular Connectivity & Others
Automotive
V2X Vehicle Type outlook (Revenue, USD Million; 2014 - 2025)
• Passenger Cars
• Commercial vehicles
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