Global Automotive V2X Market Size, Growth Trends, Revenue, Future Plans and Forecast 2029
Global Automotive V2X Market: accounted for USD 1.88 billion in 2021 and is expected to reach USD 25.02 billion by 2029 at a CAGR of 38.2 % during the forecast period.
Global Automotive V2X Market Overview:
The goal of this research is to provide an overview of the Global Automotive V2X Market as well as detailed market segmentation based on connection type, end-use, and geography. The study contains critical information on the market positions of the leading Global Automotive V2X players, as well as noteworthy industry trends and opportunities.
The analysis also focuses on the Global Automotive V2X market's key top industry players, providing information such as company biographies, product pictures and specifications, capacity, production, price, cost, revenue, and contact information. This study examines the Global Automotive V2X Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This report analyses the entire Global Automotive V2X Market Size from a global perspective by analyzing historical data and prospects.
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Global Automotive V2X Market Dynamic:
Hyundai Motor (South Korea) formed a strategic agreement with Autotalks in August 2021 with a direct investment to speed up the development and implementation of the next-generation chipset for connected vehicles. This technology would increase vehicle and road safety as well as mobility, which is critical for autonomous driving. According to Yunseong Hwang (Director of Open Innovation Business Group, Hyundai Motor Company), connectivity is one of the essential technologies that may be applied to smart city business models, as well as autonomous driving and infotainment. Hyundai Motor will continue to invest in innovative technologies that line with its present plans. General Motors will introduce 5G onboard connectivity on all new Cadillac vehicles in 2020. By 2022, it is predicted that the majority of Chevrolet and Buick vehicles would be sold in China. The 5G service would offer higher internet speeds than the existing OnStar 4G LTE Wi-Fi in its vehicles.
Global Automotive V2X Market Segmentation:
By vehicle type, the Passenger Information System segment is expected to have the greatest CAGR during the projection period. The factors that may be attributed to an increase in demand for connected car technologies in passenger cars, a larger market share, and an increase in the number of passenger electric vehicles are to boost demand for the Passenger Information System segment.
By Communication type, V2G is a technology that enables electric cars to connect with the power grid in order to regulate charging rates or return electricity to the grid. The three major components of V2G are the location where the vehicle connects to the electrical grid, the EVSE, and the electric vehicle that manages SOC. V2G allows people to charge their electric vehicles and monitor costs using mobile phones. Governments in the Asia Pacific area are also working on the deployment of electric commercial vehicles. The Indian government announced plans in September 2020 to give incentives of USD 4.6 billion to firms that establish advanced battery manufacturing facilities to cut oil imports while switching to EVs. Similarly, China is concentrating on boosting the number of electric cars in order to fight the country's rising emissions. The Chinese government is offering substantial subsidies for car electrification, which has increased sales of electric vehicle charging stations in China. Because of these factors, V2G is expected to emerge as a promising market throughout the forecast period.
Global Automotive V2X Market Key Players:
• Continental AG
• Qualcomm Technologies Inc.
• NXP Semiconductors N.V.
• Robert Bosch GmBH
• Intel Corporation
• Infineon Technologies AG
• TomTom International BV.
• Harman International Industries, Inc.
• Nvidia Corporation
• Autotalks ltd.
• Cohda Wireless
• Daimler AG
• Audi AG
Inorganic growth techniques noted in the sector included acquisitions, partnerships, and collaborations. With growing demand, industry participants in the Global Automotive V2X market are projected to benefit from excellent future growth opportunities. The following are a few companies participating in the worldwide Global Automotive V2X industry.
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The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, and Africa, and South America, after examining the political, economic, social, and technological variables influencing the Global Automotive V2X market in these regions.
COVID-19 Impact Analysis on Global Automotive V2X Market:
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19's impact on the Global Automotive V2X market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Global Automotive V2X Market Report are:
- What will be the CAGR of the Global Automotive V2X market during the forecast period?
- Which segment emerged as the leading segment in the Global Automotive V2X market?
- Which are the prominent players in the Global Automotive V2X market?
- What will be the Global Automotive V2X market size by 2027?
- Which company held the largest share in the Global Automotive V2X market?
About Maximize Market Research:
Maximize Market Research, a global market research firm with a dedicated team of professionals and data has carried out extensive research on the Transportation management system market. Maximize Market Research provides syndicated and custom B2B and B2C business and market research on 12,000 high-growth emerging technologies, opportunities, and threats to companies in the chemical, healthcare, pharmaceuticals, electronics, and communications, internet of things, food and beverage, aerospace and defense, and other manufacturing sectors. Maximize Market Research is well-positioned to analyze and forecast market size while also taking into consideration the competitive landscape of the sectors.
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