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Vehicle-to-Everything Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Vehicle-to-Everything Market: By Component (Hardware, Software Platforms and Services); Communication (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I) and others); Connectivity (Dedicated Short Range Communication, Cellular and Hybrid); Application (Autonomous Driving, Automated Driver Assistance, and others); Vehicle Type (ICE Vehicle and Electric Vehicles); Vehicle Application (Commercial, Passenger and Off-highway); and Region) - Industry Dynamics, Market Size and Opportunity Forecast for 2023-2031

  • Published Date: Feb-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0122129  | Delivery: 2 to 4 Hours
Vehicle-to-Everything Market

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Report AttributeDetails
Market Size Value in 2022US$ 4.18 Bn
Expected Revenue in 2031US$ 55.6 Bn
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Bn)
CAGR36.1% (2023-2031)
Segments coveredBy Component, By Communication, By Connectivity, By Application, By Vehicle Type, By Vehicle Application, By Region
Key Companies                                                                                                                            Google, IBM, Oracle, Microsoft, Robert Bosch, Denso Corporation, Delphi Technologies, TE Connectivity, Nokia, AT&T, Ericsson, Comcast, Volkswagen, Toyota Motor, Daimler, Ford Motor, Cisco, Adode, Salesforce, Autotalks LTD., Infineon Technologies AG, NXP Semiconductors, NEC, NTT, Alpha Networks, General Motors, Honda Motor, BMW Group, Vmware, SAP, Seamgen, Stmicroelectronics, Continental AG, Qualcomm Technologies, Inc., CommScope, Alpha Networks, Mavenir, SAIC Motor, Stellantis, Hyundai Motor, Other Prominent Players
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Vehicle-to-everything (V2X) is a communication technology that allows a vehicle to communicate with other vehicles, road users, and infrastructure.

V2X connectivity helps to optimize traffic flows, minimize emissions, reduce traffic congestion, and cut accident numbers. 

The Global V2X Market is projected to grow at a CAGR of 36.1% during the forecast period 2023-2031.

Connected vehicles enable cars to communicate via V2X platform with drivers, other vehicles, road infrastructure, and the cloud. The increase in V2X-based services provided in connected cars drives the growth of the automotive V2X market.

Favorable government initiatives and technology penetration are the factors driving the growth of V2X market.

Security and privacy concerns due to increased connectivity is a major challenge in the Global V2X Market.

Artificial intelligence (AI) and 5G have an important role in the future of the automotive industry, as predictive capabilities are becoming more prevalent in cars, personalizing the driving experience. In addition, 5G and AI is better equipped with V2X to carry out critical communications for safer & secure driving.

Hardware component segment has the highest share in the Global V2X Market in 2022.

The automated driver assistance (ADAS) segment is projected to grow at a fastest CAGR during the forecast period.

ICE vehicles hold the highest share in terms of vehicle type in the Global V2X Market in 2022.

Asia Pacific has the fastest CAGR in the Global V2X Market during the forecast period.

The key players in the Global V2X Market are Robert Bosch, Harman, Continental, NXP, Huawei, Altran, STMicroelectronics and Infineon among others.