Automotive Vehicle to Everything Market Analysis

Propulsion Type {Internal Combustion Engines (ICEs), Electric Vehicles}

The global automotive V2X market is segmented and analyzed for demand and supply by propulsion type into internal combustion engines (ICEs), and electric vehicles. Amongst these segments, the electric vehicles segment is anticipated to garner the largest revenue by the end of 2037, backed by the growing demand for electric vehicles, along with the surge in the sale of electric vehicles worldwide. For instance, it was estimated that the global sales of electric cars were around 2 million in the first quarter of 2022. Moreover, authorities are providing appealing subsidies and regulations to stimulate the sale of EVs. It offers consumers substantial advantages, including lower retail prices, no or minimal registration fees, and free EV charging facilities at various charging points. Furthermore, numerous governments around the globe excluded road tax, import costs, and buying tax based on various incentives. These incentives have also encouraged vehicle manufacturers to increase their EV manufacturing. Furthermore, the government has made expenditures in infrastructure development and implemented favorable policies. For instance, the US government plans to spend USD 287 billion on highway development over the next five years. Thus, these factors are expected to drive this segment’s growth in the market.

Components {Vehicle to Infrastructure(V2I), Vehicle to Vehicle (V2V)}

The global automotive V2X market is segmented and analyzed for demand and supply by components into vehicle to infrastructure(V2I), vehicle to vehicle (V2V), and others. Out of these vehicle-to-vehicle segment is anticipated to garner the largest revenue by the end of 2037. One of the primary reasons for the expansion of the vehicle-to-vehicle segment is the increasing issue of security and protection among OEMs, end users, and authorities. These V2V signals, based on the National Highway Traffic Safety Administration (NHTSA), have a spectrum of more than 300m and can predict threats occluded by traffic, terrain, or climate. V2V communication stretches and improves on existing collision mitigation systems that identify collision dangers using radars and cameras. Such innovations aid in the reduction of traffic rule violations, resulting in a decrease in road traffic accidents. 

Our in-depth analysis of the global market includes the following segments: