V2X
Market Overview
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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