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Automotive Vehicle-To-Everything (V2X) Market Size

Report ID: GMI5844
Published Date: May 2023
Report Format: PDF

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Automotive Vehicle-to-Everything (V2X) Market Size

Automotive Vehicle-to-Everything (V2X) Market size surpassed over USD 2.5 Billion in 2022 and is anticipated to grow at 25% CAGR from 2023 to 2032 owing to the development of smart cities and Intelligent Transportation Systems (ITS). The industry is a highly competitive & dynamic, driven by advancements in automotive technology, the increasing demand for connected vehicles, as well as the need for enhanced road safety and traffic efficiency.

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The high cost of implementing robust data privacy & security measures can add to V2X deployment costs, which is expected to restrain automotive vehicle-to-everything market growth. Encryption algorithms, secure communication protocols, and other cybersecurity technologies require additional resources and investments. This can impact the affordability and cost-effectiveness of V2X solutions, particularly for smaller companies or price-sensitive markets, which may be hesitant to invest in the necessary security infrastructure.

Automotive Vehicle-To-Everything Market Report Attributes
Report Attribute	Details
Base Year:	2022
Automotive Vehicle-To-Everything Market Size in 2022:	USD 2.5 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	25%
2032 Value Projection:	USD 25 billion
Historical Data for:	2018 – 2022
No. of Pages:	200
Tables, Charts & Figures:	515
Segments covered:	Connectivity Type, Communication Type, Component, Vehicle Type, Application
Growth Drivers:	Rising adoption of autonomous and connected cars Increasing need for safety and accident prevention Growing focus on infrastructure development and smart cities Rising demand for vehicle telematics Increasing government initiatives and regulations
Pitfalls & Challenges:	Data privacy and security concerns Lack of infrastructure Lack of infrastructure

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive V2X reached USD 2.5 Billion in 2022 and is will grow at 25% CAGR during 2023 to 2032, owing to increasing development of smart cities, along with government focus on providing smart transportation through smart infrastructures such as advanced traffic signals, surveillance cameras, and toll stations.

The autonomous Driving segment is anticipated to witness 28% growth between 2023 and 2032, on account of emphasis to increase road safety through greater precision & accuracy in path planning offered by V2X technology for autonomous driving.

The automotive vehicle-to-everything (V2X) industry in Asia Pacific is a fastest growing region with a growth rate of 26% through 2032, attributed to high rate of technological advancements in the automotive and communications sectors in numerous nations across the region, along with widespread deployment of V2X technology.

Dreem 124, Eight Sleep , Emfit Ltd., Garmin Ltd. , Google LLC, Koninklijke Philips, N.V., Motive Inc, Oura Health oy, Sleepace, SLEEPON, Sleepme Inc., Sleep Number Corporation, Tempur Pedic North America, LLC, Ultrahuman Healthcare Pvt Ltd, Whoop, Withings, and Xiaomi Corporation.