Cellular Vehicle-to-Everything (C-V2X) Market Size - By Communication Type (Vehicle-to-Person, Vehicle-to-Infrastructure, Vehicle-to-Network, Vehicle-to-Vehicle), Application (Fleet Management, Autonomous Driving), Component, Vehicle Type & Forecast, 2024 - 2032

Cellular Vehicle-to-Everything Market Size

Cellular Vehicle-to-Everything Market was valued at USD 936.8 million in 2023 and is projected to expand at over 30% CAGR from 2024 to 2032. The increasing frequency of road accidents on highways is driving the demand for Cellular Vehicle-to-Everything (C-V2X) technology. C-V2X enhances road safety by enabling real-time communication between vehicles, infrastructure & pedestrians, thereby preventing collisions and improving the overall traffic management. intelligent traffic systems can reduce such events, propelling the demand for C-V2X solutions.
 

The development of autonomous vehicles heavily relies on robust communication systems, making Cellular Vehicle-to-Everything (C-V2X) integral to the industry. C-V2X enables seamless communication between autonomous vehicles, allowing them to share crucial information about their positions, speeds, and intentions. This shared data fosters a cooperative and safer driving environment, essential for the successful deployment and functioning of autonomous vehicles as they navigate complex traffic scenarios with a heightened awareness of their surroundings.

Data security and privacy concerns present critical challenges for the C-V2X market. The exchange of sensitive information among vehicles, infrastructure, and other connected entities raises apprehensions about potential cyber threats and unauthorized access. Establishing robust security measures, safeguarding user privacy, and ensuring secure data transmission are paramount. Resolving these concerns is crucial to gaining user trust and regulatory approval, both of which are essential for the widespread adoption of C-V2X technology in the evolving landscape of connected & autonomous vehicles.
 

Cellular Vehicle-to-Everything Market Trends

Governments, globally, adopting Cellular Vehicle-to-Everything (C-V2X) as the standard for road safety systems are fostering lucrative market growth. Establishing C-V2X as a standardized communication protocol enhances interoperability and facilitates seamless integration. For instance, in December 2023, South Korea declared C-V2X direct communications as the standard for its upcoming vehicle communication system. The Ministry of Science and ICT along with the Ministry of Land, Infrastructure and Transport affirmed the country's exclusive use of LTE-V2X in constructing the Cooperative-Intelligent Transport Systems (C-ITS).
 

Rising smart city initiatives worldwide are a key trend propelling the C-V2X market. As cities increasingly focus on creating intelligent transportation systems, C-V2X technology becomes integral for enhancing traffic efficiency and overall urban mobility. By integrating C-V2X into urban infrastructure, cities can optimize traffic flow, reduce congestion, and improve road safety. This trend aligns with the broader goal of creating sustainable, connected, and efficient urban environments, driving the demand for C-V2X solutions in the global market.
 

Cellular Vehicle-to-Everything Market Analysis

The passenger vehicle segment accounted for a market share of around 65% in 2023 and is projected to grow by 2032. The integration of C-V2X with Advanced Driver Assistance Systems (ADAS) marks a significant trend, enhancing the capabilities of both technologies. C-V2X complements ADAS by providing an additional layer of communication that allows vehicles to share real-time information about their status, movements, and potential hazards. This integration empowers ADAS to make more informed decisions, supporting features such as adaptive cruise control, lane-keeping assistance, and automated emergency braking.
 

The collision avoidance segment accounted for a market share of around 32% in 2023. The deployment of C-V2X onboard units is fueling growth in the collision avoidance segment. By equipping vehicles with C-V2X technology, the real-time communication enables instantaneous exchange of critical information, allowing vehicles to analyze and avoid potential collisions. For instance, in April 2023, The Federal Communications Commission (FCC) approved a collaborative application that enables the deployment of Cellular Vehicle-to-Everything (C-V2X) technology to mitigate collisions. This waiver empowers automakers to integrate C-V2X-based onboard units into vehicles sold in the U.S. Additionally, transportation departments are authorized to implement this technology within their jurisdictions.
 

Europe dominated the global cellular vehicle-to-everything market with a major share of over 40% in 2023. Smart city initiatives in Europe play a pivotal role in propelling the market development. As European cities embrace the concept of smart urban environments, the integration of C-V2X into intelligent transportation systems becomes essential. The technology facilitates real-time communication between vehicles & infrastructure, optimizing traffic management and enhancing overall safety. With a focus on efficiency and sustainability, European smart cities leverage C-V2X to address complex traffic challenges, reduce congestion, and improve the overall quality of urban mobility through advanced communication & coordination systems.
 

Cellular Vehicle-to-Everything Market Share

Major players operating in the Cellular Vehicle-to-Everything industry are:

• Continental AG
• Huawei Technologies Co., Ltd.
• Infineon Technologies AG
• Intel Corporation
• Keysight Technologies
• Nokia Corporation
• NTT DOCOMO, Inc.
• Qualcomm Technologies, Inc.
• Quectel Wireless Solutions Co., Ltd.
• Robert Bosch GmbH
• Rohde & Schwarz GmbH & Co. KG
• Savari, Inc.
• Shenzhen Genvict Technologies Co., Ltd.
• ZTE Corporation
   

Qualcomm Technologies, Inc. and Continental AG hold a significant market share of over 15% in the C-V2X industry. Qualcomm is at the forefront of developing cutting-edge technologies for communication and connectivity, including C-V2X. Their emphasis on innovation and technological leadership helps them stay competitive in the rapidly evolving automotive and communication sectors.
 

Continental offers end-to-end solutions for C-V2X, encompassing both hardware and software components. By providing a comprehensive suite of products, Continental aims to position itself as a one-stop solution provider for connected vehicle technologies.
 

Cellular Vehicle-to-Everything Industry News

• In June 2023, Peachtree Corners, smart city powered by real-world connected infrastructure collaborated with Audi of America Inc. to advance cellular vehicle-to-everything (C-V2X) practical deployment pathways as part of the city's Curiosity Lab ecosystem. This deployment allows vehicles to communicate with city-owned streets, traffic signals, crosswalk signals and other infrastructure, as well as with vulnerable road users (VRUs).
   
• In November 2022, Quectel Wireless Solutions, a IoT and automotive solutions provider, launched its new AG18 module, one of the next generation of Cellular Vehicle-to-Everything (C-V2X) modules. Featuring PC5 direct communications, the module allows vehicles to effectively communicate with one another and with their surroundings, ensuring improved safety and traffic efficiency.
   

This cellular vehicle-to-everything market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Communication Type

• Vehicle-to-Person (V2P)
• Vehicle-to-Infrastructure (V2I)
• Vehicle-to-Network (V2N)
• Vehicle-to-Vehicle (V2V)

Market, By Component

• Hardware
• Software

Market, By Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

Market, By Application

• Fleet Management
• Autonomous Driving
• Collision Avoidance
• Intelligent Traffic Systems
• Parking Management Systems
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia 
• Latin America
  • Brazil
  • Argentina
  • Colombia 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa