Fast Market Research announces the availability of the new Markets and Markets report, "Automotive Vehicle-to-Everything (V2X) Market - Global Forecast to 2022", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 12/16/2016 -- Automotive Vehicle-to-Everything (V2X) Market by Offering (Hardware, Software), Type (V2V, V2I, V2P, V2G, V2H, and V2N), Connectivity Type (DSRC and Cellular), Vehicle Type (Passenger and Commercial), Application - Global Forecast to 2022
"Automotive V2X market projected to grow at a significant rate"
According to the new market research report on the automotive V2X market, the market is expected to be valued at USD 767.5 million in 2017 and is expected to reach USD 2,815.5 million by 2022, at a CAGR of 29.69% between 2017 and 2022. The benefits of V2I communication such as decrease in number of accident by notifying the drivers about the information obtained through the communications between the vehicles and sensors installed on the road and efficient traffic management are the major factors expected to drive the automotive V2I market. The factors restraining the market include lack of cellular coverage in developing countries, cost burden on consumers, and lack of infrastructure in the automotive V2X market.
Get More Details on this Report and a Full Table of Contents at Automotive Vehicle-to-Everything (V2X) Market - Global Forecast to 2022
"Vehicle-to-infrastructure systems is expected to grow at the highest rate for the automotive V2X market"
Automotive V2I is expected to grow at the highest rate. The benefits of V2I communication such as the decrease in the number of accident by notifying the drivers about the information obtained through the communications between the vehicles and sensors installed on the road and efficient traffic management are expected to drive the automotive V2I market. In August 2016, Audi announced that it would launch the first V2I technology called Traffic light information on selected models such as Audi Q7, A4, and A4 in the U.S. by early 2017.
"Passenger vehicles are expected to hold the largest market and grow at the highest rate"
The passenger vehicles segment is expected to hold the largest market and is also expected to grow at the highest rate owing to the fact that there are many passenger vehicle companies such as General Motors (U.S.), Mercedes Benz-maker Daimler (Germany), BMW (Germany), Audi AG (Germany), and Volkswagen AG (Germany) working towards the commercialization of V2X communication technology.
"Automotive V2X market in Asia-Pacific is expected to grow at the highest rate"
Asia-Pacific is expected to grow at the highest rate in the automotive V2X market. This region has emerged as a hub for automotive production; OEMs and suppliers have set up production facilities to cater to the growing demand for automobile in the market. This region houses established automakers such as Toyota Motor Corporation (Japan), Hyundai Motor Company (South Korea), and Honda Motor Company (Japan). One of the key drivers for the Asia- Pacific region is the increased demand for telematics and driver assistance.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profile of primary participants has been given below:
-By Companies: Tier 1 - 30 %, Tier 2 - 45%, and Tier 3 - 25%
-By Designation: C-Level Executives - 35%, Directors - 45%, and Managers - 20%
-By Region: North America - 30%, Europe - 40%, Asia-Pacific - 20%, and RoW - 10%
The major players in automotive V2X market are Continental AG (Germany), Qualcomm Inc. (U.S.), Daimler AG (Germany), Delphi Automotive PLC (U.K.), Infineon Technologies AG (Germany), Audi AG (Germany), Intel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), TOMTOM N.V. (Netherlands), IBM Corporation (U.S.), Cisco Systems Inc. (U.S.), AT&T Inc. (U.S.), Vodafone Group (U.K.), Robert Bosch GmbH (Germany), NVIDIA Corporation (U.S.), Mobileye N.V. (Israel), Harman International Industries (U.S.), PTC Inc. (U.S.), Autotalks Ltd. (Israel), and Cohada Wireless (Australia).
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