Automotive Vehicle to Everything Market Size

Automotive V2X Market size was over USD 5.72 billion in 2024 and is likely to reach USD 436.96 billion by the end of 2037, witnessing around 39.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive vehicle to everything is assessed at USD 7.52 billion. The growth of the market can primarily be attributed to the growing awareness of automotive V2X, along with rising concern over the increasing incidence of road traffic injuries and crashes worldwide. For instance, according to the Global Status Report on Road Safety 2018, published by the World Health Organization (WHO), more than 1 million deaths occur each year owing to road traffic crashes worldwide.

V2X communication system shares information, such as speed, with other entities around the vehicle. This information travels from the vehicle sensors and other sources through high-bandwidth, high-reliability links, allowing it to communicate with other vehicles, infrastructure such as traffic lights, parking spaces, and smartphone-tossing pedestrians. The technology enhances the driver’s awareness of potential dangers and aids in reducing road accident fatalities, the severity of injuries, and collision, with other vehicles. With the recent advancements in V2X technology as well as increasing penetration of vehicles, the demand for automotive V2X is on the rise amongst vehicle users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive V2Xmarket during the forecast period. According to the data released by the Federation of Automobile Dealers Associations (FADA) in May 2022, there was a surge in total vehicle retail in India by 207%.

Congested highways in Europe cost approximately USD 109 billion per year. The possible financial funds of a more secure and effective transportation network are immense. In accordance with the US DOT, automotive V2X could save approximately USD 871 billion in the United States each year. Closed roads induce distribution network delays, raise the difficulty and expense of doing business, and reduce efficiency. Congestion-causing aspects can be discovered beforehand using these advanced technologies, and vehicles can respond accordingly. By incorporating simulators with real-time data, streamlined routes can be recognized to make vehicles quicker and more effective. These variables are linked to the increasing consumption of vehicle-to-everything connectivity in the automotive sector.