Northbrook, IL 60062 -- (SBWIRE) -- 06/30/2022 -- The Automotive V2X Market is projected to grow from USD 689 million in 2020 to USD 12,859 million by 2028, at a CAGR of 44.2 %. The market growth can be attributed to the increasing safety concerns over road traffic accidents among the public and various governments across the globe. As per the NHTSA, 615,000 motor vehicle crashes could be avoided by the application of V2V communications. The increase in environmental pollution caused by transportation is another key factor for the growth of the automotive V2X market, as V2X is expected to reduce pollution by optimization of traffic flow. Since traffic congestion alone causes 15 billion litres of wasted fuel every year in the US (as per the US EPA), V2X would play a key role in reducing fuel consumption.

Automotive V2X Market and Key Technology:

1. 5G V2X – In the 5G-V2X standard, the features of the 5G network are combined with V2X. This standard was released in the 3GPP Release 15 in April 2019. The 5G-V2X supports precise ranging and positioning to support automated driving, low latency and high throughput connectivity, high throughput to build dynamic and local maps, and high reliability to support high density platooning.

2. LTE V2X – LTE-V2X is the standard in which the features of the LTE network are combined with V2X. The LTE-V2X was announced in the 3GPP Rel. 14, which was released in March 2017. The LTE-V2X has 2 operational modes—short range, which is a network less direct communication via PC5 interface, and long-range cellular network communication based on Uu radio interface.

3. C-V2X Chipset – Cellular-V2X (C-V2X) was introduced by 3GPP (3rd Generation Partnership Project) in its 3GPP release 14 in June 2017, as LTE-V2X. The C-V2X has two transmission modes, one of which offers V2V, V2P, and V2I, called short-range direct transmission mode (<1 km). The second mode of C-V2X is called long-range network communication (>1 km) which operates in the mobile operator spectrum band, utilizing conventional mobile networks.

Top Players:

1. Qualcomm Technologies (US)
2. Continental AG (Germany)
3. Robert Bosch (Germany)
4. Delphi Technologies (UK)
5. NXP Semiconductors (Netherlands)
6. Infineon Technologies (Germany)
7. Denso Corporation (Japan)
8. Harman International (US)
9. STMicroelectronics (Switzerland)

Top Start-ups:

1. Autotalks (Israel)
2. Cohda Wireless (Australia)
3. Savari (US)

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OBU is expected to hold the largest share of the automotive V2X market, by unit

The increase in sales of vehicles equipped with V2X is the key factor driving the OBU segment, as every vehicle will be equipped with OBUs for V2X communication. Some of the top players in the automotive V2X market offering OBUs are Denso, Cohda Wireless, and Savari, among others. OBUs are the main units used for all communications such as V2V, V2I, and V2P.

The V2V segment is expected to have the largest market share of the automotive V2X market, by communication

The V2V communication segment is expected to have the largest share of the automotive V2X market. V2V improves vehicle safety through features such as forward collision warning (FCW) and lane changing warning (LCW). The growing safety concerns among the public and government dues to increasing traffic accidents are an important driving factor for the growth of the automotive V2V market. The vehicle models equipped with V2V technology are Cadillac CTS and Mercedes-Benz E-Class, among others.

North America is expected to be the fastest automotive V2X market, by region

The growth of the North American automotive V2X market can be attributed to the high sales of vehicles equipped with V2X, such as the Cadillac CTS and Mercedes-Benz E-Class in the region. The presence of top V2X players such as Qualcomm Technologies, Harman International, and Savari would also contribute to the growth of the North American automotive V2X market.

The automotive V2X market is dominated by globally established players such as Robert Bosch GMBH (Germany), Continental AG (Germany), Qualcomm Technologies, Inc. (US), Autotalks Ltd. (Israel), and Delphi Technologies (UK). In September 2018, Autotalks announced the launch of the V2X solution. The second-generation V2X chipset is the only available solution capable of supporting both DSRC and C-V2X direct communications (PC5 protocol) at the highest security level. In April 2019, Qualcomm Technologies partnered with Audi AG, Ericsson, SWARCO Traffic Systems GmbH, and the University of Kaiserslautern to demonstrate the world's first cross-border C-V2X direct communication in San Diego, California.

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Europe is expected to account for the largest market size during the forecast period

Europe is expected to have the largest automotive V2X market during the forecast period. The improved infrastructure facility in Europe allows easy deployment of V2X. The presence of top players in the Robert Bosch GmbH, Continental AG, and Delphi Technologies, along with the large-scale adoption of V2X-equipped vehicles, is expected to have a significant effect on the European V2X market. Moreover, in European countries such as France and Germany, the likes of 5GAA, BMW Group, Ford, and Groupe PSA have teamed up with Qualcomm and Savari to showcase C-V2X communications.