Global Cellular Vehicle-To-Everything (C-V2X) Market Research Report 2021 Overview, Territorial Outlook, Technology, Demand and Estimate 2027

The automotive industry is undergoing a plethora of transformations worldwide, undeniably paving way for the growth of global Cellular Vehicle-To-Everything (C-V2X) Market. It has been observed that C-V2X market is majorly driven by the evolution of autonomous and connected vehicle technologies and transport infrastructure.

On this note, according to a recent report by Global Market Insights Inc, the cellular vehicle-to-everything (C-V2X) market size is set to surpass USD 1 billion by 2026.

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Studies suggest that the technology allows the exchange of crucial data between vehicles to dodge road accidents by enhancing situational awareness. That said, various auto companies are also going nine yards for embedding such technologies in some of the new cars to enhance the consumer experience.

 

In one such instance, a leading automaker- Ford- in 2019 announced integrating C-V2X technology in all of its advanced vehicles by 2022 end. As per news reports, this novel technology would allow Ford developed vehicles to ‘listen’ and ‘talk’ to each other, while also directly connecting with traffic management infrastructure including traffic lights. Not limiting to drivers, this technology also comes handy for pedestrians, enabling them to use their mobile phones to communicate their locations to vehicles, making roads relatively safer for both cyclists and walkers. This initiative has paved way for the potential development of vehicle-to-person (V2P) communication.

 

It has been reported that the V2P segment is anticipated to register substantial gains in the overall C-V2X industry over the span of 2020 to 2026 as these solutions allow communication between the vehicle and the pedestrian’s wearables or smart devices to offer a visual and auditory warning and aid to both the driver and pedestrian. These services and solutions play a pivotal role in pedestrian safety. According to a report put forth by the Governors Highway Safety Association 2019, about more than 6500 pedestrian fatalities were recorded in the United States. Having said, the elevating count of pedestrian fatalities would serve as a major growth driver for the overall V2P communication segment.

 

Global cellular vehicle-to-everything market is potentially fragmented into diverse segments including component, application, vehicle type, and the regional landscape.

 

Underlined is a succinct insight into the growth parameters of the overall industry:

 

In terms of the component bifurcation, it has been observed that the software segment would depict a substantial CAGR of 10% through 2026, given the rising need for simplifying communication between pedestrians and vehicles which has urged top-notch enterprises to develop smartphone applications. Likewise, tech companies have been looking forward to the development of advanced C-V2X platforms to support the commercialization of connected infrastructure. For instance, Continental had in early-2019 announced upgrading 5G hybrid platform by deploying various V2X technologies. This hybrid platform is poised to help vehicle producers overcome challenges while implementing V2X technology on a global scale.

 

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Application of C-V2X technology in intelligent traffic systems is gaining widespread popularity worldwide as the technology has been well acclaimed for communicating effectively with roadside infrastructures including security cameras and traffic signals to exchange data regarding the traffic and road conditions. It is essential to note that intelligent traffic systems help in enhancing traffic conditions by offering information pertaining to road congestion while also suggesting an alternate road to connected vehicles. In addition to this, the integration of cellular infrastructure and traffic management systems can enhance the overall transportation system.

 

With the ever-growing sales of passenger vehicles globally, the need for smart communication systems and in turn cellular V2X technology is gradually rising. In fact, according to the International Organization of Motor Vehicle Manufacturers, over more than 6 million passenger vehicles were produced in 2019 alone, enabling the C-V2X tech market to soar to all new heights. This technology helps in providing safe transportation by minimizing the risks associated with vehicle accidents and collisions.

 

C-V2X industry is diversified into vivid regions including the North America, APAC, Europe, and ROW. Industry experts have suggested that North America cellular vehicle-to everything market would hold a market share of 20% in the overall industry by the end of 2026, courtesy- presence of favorable initiatives by government agencies for the development of automotive technologies. An example of the aforesaid is given by the Virginia Department of Transportation’s recent collaboration with Qualcomm Technologies Inc. and Audi America.

 

This initiative enabled the authoritative body to deploy C-V2X communication infrastructure in Virginia, the U.S. along with laying immense focus on the development of a new deployment model across the country.

 

In a nutshell, surging demand for autonomous vehicles and intervention of positive government initiatives for infrastructure development is likely to offer a positive growth path to the overall C-V2X market.

 

Browse key industry insights spread across 265 pages with 290 market data tables and 27 figures & charts from the report, Cellular Vehicle-to-Everything (C-V2X) Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/cellular-vehicle-to-everything-c-v2x-market

Report Content

Chapter 3   C-V

3.1    Introduction

3.2    Industry segmentation

3.3    Impact of COVID-19 outbreak

3.3.1    Global Outlook

3.3.2    Impact by region

3.3.2.1    North America

3.3.2.2    Europe

3.3.2.3    Asia Pacific

3.3.2.4    Latin America

3.3.2.5    Middle East & Africa (MEA)

3.3.3    Impact on industry value chain

3.3.4    Impact on competitive landscape

3.4    C-V2X ecosystem analysis

3.5    C-V2X technology evolution

3.6    C-V2X technology architecture

3.7    Technology and innovation landscape

3.7.1    Usage-based insurance

3.7.2    Platooning

3.7.3    Brain to Vehicle (B2V) technology

3.7.4    5G technology

3.8    Use cases

3.8.1    Advanced driving with intent/trajectory sharing

3.8.2    Extended sensors

3.8.3    Remote driving

3.8.4    Data Uplink

3.8.5    Real-time HD mapping

3.9    Regulatory landscape

3.9.1    LTE 3GPP Release 14

3.9.2    IEEE 802.11p/Dedicated Short Range Communications (DSRC)

3.9.3    ITS-G5 standard for short-range communications (V2V)

3.9.4    Notice of Proposed Rulemaking (NPRM) - USDOT

3.9.5    Intelligent Internet-connected Vehicles Road Test Administrative Rules (for trial implementation) - China

3.9.6    Guidelines for Field Operational Tests of Automated Driving Systems on Public Roads- Japan

3.10    Industry impact forces

3.10.1    Growth drivers

3.10.1.1    Demand for safer roads

3.10.1.2    Adoption of autonomous vehicles

3.10.1.3    Advancements in cellular technologies

3.10.1.4    Growing popularity of vehicle telematics

3.10.1.5    Increasing demand for smart cities

3.10.2    Industry pitfalls and challenges

3.10.2.1    Network security and privacy issues

3.10.2.2    Failure of the autonomous driving system

3.10.2.3    Lack of cellular coverage

3.11    Porter’s analysis

3.11.1    Bargaining power of suppliers

3.11.2    Bargaining power of buyers

3.11.3    Threat of new entrants

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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