V2X (Vehicle-to-Everything) Communications 2019 Global Market – Innovation, Technologies, Applications, Verticals, Strategies & Forecasts
Sep 3, 2019
WiseGuyReports.Com Publish a New Market Research Report On –“ V2X (Vehicle-to-Everything) Communications 2019 Global Market – Innovation, Technologies, Applications, Verticals, Strategies & Forecasts”.
Pune, India - September 3, 2019 /MarketersMedia/ —
V2X (Vehicle-to-Everything) Communications Industry 2019
Description:-
Vehicle-to-everything (V2X), which refers to vehicle-to-Infrastructure (V2I), and vehicle-to-vehicle (V2V) communications. It is basically a wireless technology intended for enabling data exchanges between an automobile and its surroundings.
Vehicle to everything technology is based on 5.9 GHz inscribed short-range communications, a Wi-Fi derivative exclusively defined for fast-moving objects and enabling the establishment of a reliable radio link, even in non-line-of-sight situations.
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By transferring data, such as a vehicle’s speed and position, to surrounding vehicles and infrastructures, V2X communication systems increase driver awareness of upcoming possible dangers and also improve collision avoidance, resulting in heavily lessened fatalities and injury severity.
Vehicle to everything technology will boost traffic efficiency by providing warnings for upcoming traffic congestions, suggesting alternative routes and ensuring environment-friendly driving. This system will promote transportation management.
Market segmentation
The V2X communication ecosystem market can be segmented based on region, applications, communication type, connectivity type, and technology type.
Technology
Based on technology, the global V2V communication system market can be segmented into:
ADAS (Advanced Driver Assistance Systems)
Precision positioning,
Edge & cloud computing
Network slicing
Passenger Information System
Automated Driver Assistance
Intelligent Traffic Systems implemented using AI
Connectivity type
Two major connectivity types possessed by the V2X communication system are-
Cellular connectivity
Dedicated Short Range Communication (DSRC)
Communication type
Considering the communication type, the market can be segmented into-
Vehicle to vehicle (V2V)
Vehicle to infrastructure (V2I)
Vehicle-to-Pedestrian (V2P)
Vehicle-to-Grid (V2G)
Vehicle-to-Cloud (V2C)
Vehicle-to-Device (V2D)
Application areas
Following are the major application areas that require V2X communication system-
Traffic management and optimization
Road Safety
Navigation and driver information
Commercial Vehicle Operations
Transit & Public Transport
Emergency Services & Public Safety
Environmental Sustainability
Autonomous Driving & Advanced Applications
Regional analysis
North America, Asia Pacific, Europe, the Middle East & Africa, and Latin & Central America are the main regions that drive the growth of the V2X communication system market.
Market growth analysis
Vehicle to Everything (V2X) communication system is anticipated to grow at a CAGR of more than 170% between 2019 and 2022. Report given by SNS Telecom & IT predicts that by the end of the year 2022, Vehicle to Everything communication technology will account for a market worth $1.2 Billion, with an installed base of approximately 6 Million V2X-equipped vehicles over the world.
Let's focus on V2X market driving factors:
Growing environmental concerns to lead the adoption of connected automobiles.
The desire for real-time traffic and incident alerts for improving public safety
Increasing initiatives from various governmental and organizational bodies for encouraging traffic management
Intense competition among automobile manufacturers
The factors that can negatively affect market growth-
The higher cost of V2X communication system enabled automobiles
Lack of cellular connectivity coverage in emerging countries
Inadequacy of infrastructure
Let's now understand the major challenges faced by the V2X communication system market-
Issues regarding the security of data generated by vehicles
Lack of acknowledgment of V2X technology
Need of standardization
Facts
With a prior focus on factors like traffic efficiency enhancement and road safety, GM (General Motors) and Toyota have already started preparing some of their vehicle models with IEEE 802.11p-based V2X technology in North America and Japan.
The technology has hit the market so well that a number of luxury automakers including Daimler, BMW, Volkswagen, Audi, and Volvo Cars have started providing special V2X applications through wide-area cellular connectivity and supporting infrastructure such as properly equipped road work trailers.
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