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Automotive Vehicle-to-Everything (V2X) Market Size

Report ID: GMI5844
Published Date: Dec 2024
Report Format: PDF

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Automotive Vehicle-to-Everything Market Size

The global automotive vehicle-to-everything market size was valued at USD 4.1 billion in 2024 and is projected to grow at a CAGR of 25.1% between 2025 and 2034. The increasing demand for enhanced road safety, combined with advancements in autonomous driving technologies, is driving the adoption of connected vehicle systems. Government mandates for reduced traffic accidents, improvements in traffic flow, and the rollout of 5G networks enable real-time communication between vehicles and infrastructure, fostering efficiency, safety, and smarter urban mobility solutions across regions.

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For instance, in April 2024, DENSO introduced MobiQ, a new brand dedicated to aftermarket smart mobility and vehicle-to-everything (V2X) solutions. This device seamlessly integrates with existing infrastructure, like traffic signal controllers, to optimize traffic flow and improve safety. It enables communication between connected vehicles and intelligent infrastructure, offering opportunities to enhance road safety and vehicle efficiency.

Automotive V2X Market Report Attributes
Report Attribute	Details
Base Year:	2024
Automotive V2X Market Size in 2024:	USD 4.1 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	25.1%
2034 Value Projection:	USD 37.4 Billion
Historical Data for:	2021 – 2024
No. of Pages:	180
Tables, Charts & Figures:	200
Segments covered:	Connectivity, Vehicle, Communication, Component, Application
Growth Drivers:	Advancement of 5G enabling ultra-reliable connectivity Government safety mandates pushing V2X adoption Increasing urbanization driving smart city development Rapid growth of autonomous and electric vehicles
Pitfalls & Challenges:	High infrastructure costs slowing widespread deployment Cybersecurity vulnerabilities risk data and vehicle safety

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Furthermore, the rapid development of smart cities and infrastructure is fuelling the integration of connected technologies. Urbanization and the need for sustainable transportation solutions are encouraging investments in intelligent traffic management, electric vehicle charging networks, and V2X-enabled infrastructure. This shift supports smoother traffic, reduced emissions, and improved public safety, further accelerating the adoption of connected vehicle systems.

For instance, in August 2024, the U.S. Department of Transportation (USDOT) introduced a comprehensive plan for smart cities. This initiative presents a strategic roadmap for nationwide adoption of Vehicle-to-Everything (V2X) technologies, focusing on enhancing transportation safety and efficiency through improved communication between vehicles, infrastructure, and road users.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of automotive vehicle-to-everything reached USD 4.1 billion in 2024 and is set to grow at a 25.1% CAGR from 2025 to 2034, driven by increasing demand for enhanced road safety and advancements in autonomous driving technologies.

The hardware segment held over 64% of the market share in 2024 and is expected to exceed USD 24.8 billion by 2034, driven by advancements in high-performance sensors, antennas, and onboard units.

The Europe market accounted for 34% of the revenue share in 2024 and is poised to exceed USD 12.4 billion by 2034, led by Germany's strong automotive sector and government initiatives.

The major players in the industry include Aptiv, Bosch, Continental, Denso, Ficosa, Harman, Huawei, Infineon, NXP, and Qualcomm.