Automotive Vehicle to Everything (V2X) Market Growth, Opportunity and Forecast 2033

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During the forecast period of 2023-2033, the
global automotive V2X market is expected to reach
an estimated value of USD 20 billion by 2033, by
expanding at a CAGR of 39. The market further
generated a revenue of USD 3 billion in the year
2022. The rapid urbanization of the world and the
increase in disposable incomes, intelligent and
connected vehicles are becoming more and more
popular throughout the world which is anticipated
to drive the growth of automotive V2X
market. Market Definition of Automotive V2X A
V2X system, also known as a vehicle-to-everything
system or just a V2X, allows information to be
passed from a vehicle to any entity that might
communicate with that vehicle and conversely. A
connected vehicle provides the latest
infotainment technology that makes driving more
comfortable. By communicating directly with other
vehicles, infrastructure and the cloud, they can
also make driving safer and more efficient. As a
result of Vehicle-to-X (Vehicle-to-Everything)
communication, cars or commercial vehicles are
able to exchange information on real-time traffic
updates and road hazards, enhancing safety assist
functions in the future. It is widely recognized
that V2X technology plays a critical role in
reducing road fatalities in most countries. This
has prompted the industry to reduce the timeline
for its deployment. V2X is an important milestone
in the development of fully autonomous
vehicles. Purchase Copy of this Report_at_
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roduct.php?token445 8 Global Automotive V2X
Market Growth Drivers The growth of the global
automotive V2X market can majorly be attributed
to the increasing level of connectivity in
vehicles. Essentially, V2X is a system of
vehicular communication that supports the
transmission of information between connected
vehicles and elements of the traffic system that
can have an impact on the vehicle. The automotive
V2X market is also expected to expand with surge
in vehicle connectivity
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during the forecast period. Around 80 million new
connected cars are projected to be on the road in
the United States by 2025, with more than 25 of
new vehicles having 5G connectivity. Moreover,
the increasing partnership agreements between
major key players to enhance V2X technology in
developed countries are further anticipated to
drive market growth over the forecast period. For
instance, a joint venture between Honda Motor
Co., Ltd. and V2X Suisse is underway in
Switzerland to advance the technology of
vehicle-to-grid charging. The global automotive
V2X market is also estimated to grow majorly on
account of the following Increasing demand for
real-time traffic data Fierce competition between
automobile manufacturers Increased
electrification of vehicles. Technological
advancements Rise in pedestrian accidents
Global Automotive V2X Market Restraining
Factor As vehicles are constantly communicating
with one another and the cloud is being used,
data security is becoming increasingly
problematic. Networks can be intercepted and
vehicles can be controlled for illegal purposes
by hackers. Hence this factor is expected to be
the major hindrance for the growth of the global
automotive V2X market during the forecast
period. Get a Sample Copy Of This Report With
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sample-request-4458 Global Automotive V2X
Market Segmentation
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By Propulsion Type Internal Combustion Engines
(ICEs), and Electric Vehicles The electric
vehicles segment, amongst all the other segments,
is anticipated to garner the largest revenue by
the end of 2033. There has been an explosion in
the sales of electric vehicles, as well as an
increase in the demand for them which is
anticipated to drive segment growth over the
forecast period. According to recent estimates,
around 2 million electric vehicles will be sold
worldwide in the first quarter of 2022. Using V2X
technology, electric vehicles and plug-in hybrids
can utilize large-capacity batteries to store
electricity. Moreover, the widespread use of V2X
technology in electric vehicles is anticipated to
drive segment growth over the forecast
period. By Connectivity Dedicated Short-Range
Communications (DSRC), and Cellular By
Components Vehicle to Infrastructure(V2I),
Vehicle to Vehicle (V2V), and others By Unit
(On-Board, and Roadside) By Region The Asia
Pacific automotive V2X market is anticipated to
hold the largest market share by the end of 2033
among the market in all the other regions on
account of strong manufacturing infrastructure
facilitating the implementation of V2X services
and systems, growing vehicle sales supporting V2X
communication, and a growing awareness of the
benefits of V2X among the general public. It was
observed that approximately 19,994,000 cars were
sold in China in 2020, out of over 25 million
vehicles sold. Moreover, the high level of
personal disposable income and the presence of
leading market players are expected to drive
regional market growth during the forecast
period. The market research report on global
automotive V2X also includes the market size,
market revenue, Y-o-Y growth, and key player
analysis applicable for the market in North
America (U.S., and Canada), Latin America
(Brazil, Mexico, Argentina, Rest of Latin
America), Asia-Pacific (China, India, Japan,
South Korea, Singapore, Indonesia, Malaysia,
Australia, New Zealand, Rest of Asia-Pacific),
Europe (U.K., Germany, France, Italy, Spain,
Hungary, Belgium, Netherlands Luxembourg,
NORDIC (Finland,
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Sweden, Norway, Denmark), Ireland, Switzerland,
Austria, Poland, Turkey, Russia, Rest of Europe),
and Middle East and Africa (Israel, GCC (Saudi
Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North
Africa, South Africa, Rest of Middle East and
Africa). Get PDF Sample Report With All Related
Table and Graphs _at_ https//www.researchnester.com/
sample-request-4458 Key Market Players Featured
in the Global Automotive V2X Market Some of the
key players of the global automotive V2X market
are Honda Motor Co., Ltd., Mercedes-Benz Group
AG, Ford Motor Company, Hyundai Motor Company,
Honda Motor Co., Ltd., General Motors, Volkswagen
AG, Bayerische Motoren Werke Aktiengesellschaft,
FCA US LLC, Nissan Motor Co., Ltd., and others.