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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Automotive Vehicle-to-Everything (V2X) market. Market segmentation includes Offering (Software, and Hardware); Propulsion Type (Internal Combustion Engine (ICE), and Electric); Connectivity (Dedicated Short Range Communication (DSRC), and Cellular Connectivity); Vehicle Type (Passenger Cars, and Commercial Vehicles).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

24 November 4:22 a.m., Silicon Valley, California - According to the new market research report, the global market for Automotive Vehicle-to-Everything (V2X) is projected to grow at a CAGR of 37.9% to reach US$4.4 billion by 2027, driven by increasing focus on efficient traffic management and automobile safety. The global Automotive Vehicle-to-Everything (V2X) market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Software, one of the offerings analyzed and sized in this study, is forecast to grow at over 41.9% and reach a market size of US$3.3 billion by the end of the analysis period. The United States is forecast to readjust to a 43.1% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$318 million growing at a CAGR of 32.2% over the next couple of years. In addition, over US$354 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Dedicated Short Range Communication (DSRC) connectivity segment will reach a market size of US$183 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Passenger Cars vehicle segment in this country against this backdrop will grow at a CAGR of 39% over the next couple of years to create an addressable market opportunity worth US$408 million by the year 2027.

The idea of V2X communication involves transmission of data from vehicles to specific devices that are capable of influencing the vehicle. The communication leverages Wi-Fi and directly works among vehicles or communications to outline vehicular ad-hoc network, eliminating the requirement of infrastructure or communication for vehicles. Automotive V2X technology allows a fully-connected vehicle capable of communicating with other vehicles, pedestrians, traffic signals and toll gates, paving way for self-driving, autonomous vehicles. The global automotive V2X market is gaining from increasing efforts to reduce fuel consumption and traffic congestion while making roads secure. The market is anticipated to witness powerful role of various factors such as macroeconomic scenario, rising incomes, rapid urbanization & industrialization, increasing automation and technological advances. The automotive V2X market is expected to receive a major stimulus from expansion of the global automotive industry as a result of increasing disposable income in emerging economies such as India and China, boosting automotive sales. The increasing number of cars on road and the resulting congestion has prompted various governments to implement automotive V2X solutions to reduce fuel wastage and reduce carbon emissions. Rising environmental concerns and the need for real-time traffic flow alerts are expected to drive the demand for automotive V2X technology. The market growth is also catalyzed by ongoing advances related to driverless cars. The availability of clear regulatory framework is anticipated to allow the integration of automotive V2X communication to support the idea of autonomous mobility. In addition, the ability of automotive V2X to allow automatic crash notifications and medical or emergency assistance is likely to bolster the market. However, communication among automobiles leads to data manipulation and hacking risks, which requires robust data communication protocols. The global automotive V2X market is also affected by the COVID-19 pandemic that has resulted in high degree of volatility and dampened automotive demand in the current scenario.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 9196. Among this pool, 1287 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 276 unique participations, a total of 124 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
IBM Corporation
Cisco Systems, Inc.
Intel Corporation
AT&T, Inc.
Infineon Technologies AG
Daimler AG
Continental AG
Audi AG
HARMAN International Industries, Inc.
Aptiv PLC
Autotalks, Ltd.
Cohda Wireless Pty Ltd.

Segments Covered in the Report -
Offering (Software, Hardware)
Propulsion Type (Internal Combustion Engine (ICE), Electric)
Connectivity (Dedicated Short Range Communication (DSRC), Cellular Connectivity)
Vehicle Type (Passenger Cars, Commercial Vehicles)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
Rest of World.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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