WorldWide Cellular Vehicle-to-Everything (C-V2X) Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Cellular Vehicle-to-Everything (C-V2X) Market

Industry / Sector Trends

Cellular Vehicle-to-Everything Market size in 2018 exceeded USD 400 million and is estimated to grow at a CAGR of 10% from 2019 to 2025.
 
The Cellular Vehicle-to-Everything market is expected to witness remarkable growth over the projected timeline as it supports vehicular communication services for improving safety and optimizing traffic flow to enable better use of transportation resources. The automobile industry is evolving toward connected & autonomous vehicles that offer benefits including enhanced safety, less traffic congestion, and low environmental impact. C-V2X acts as a key enabler to this evolution by allowing communication between vehicles, pedestrians, and roadside units, thus improving situational awareness and avoiding accidents. Moreover, the fast commercialization of cellular systems, such as LTE, to support smart transportation applications including obstacle detection, collision warning & avoidance. and lane keeping assistance will drive market growth.
 

Another factor augmenting the growth of the market is the continuous effort taken by private companies, industrial associations, and government bodies for conducting trials of 4G LTE and 5G networks that combine 802.11p/DSRC with C-V2X and developing the required infrastructure to support C-V2X applications. For instance, in October 2017, Ford, AT&T, Qualcomm, and Nokia conducted trials in San Diego to test the technology. The trial demonstrated the potential of C-V2X technologies including support for automated driving, safety, and traffic efficiency.
 
Market Segmentation, Outlook & Regional Insights: Cellular Vehicle-to-Everything (C-V2X) Market


Cellular Vehicle-to-Everything Market, By Communication Type 

U.S. Cellular Vehicle-to-Everything Market size, By Communication Type, 2018 & 2025 (USD Million)
 

The Vehicle-to-Vehicle (V2V) segment is expected to hold a major portion of the Cellular Vehicle-to-Everything market share in 2025 as it supports communication among vehicles on speed, location & direction and provides alerts in the form of visual or audio to provide 360-degree situational awareness for greater safety. The demand for chipsets, which can support V2V communications will increase over the years as they improve traffic management by allowing vehicles to communicate with traffic lights and signs. Also, V2V is one of the important parts of the U.S. Intelligent Transport Systems (ITS), a concept developed by U.S. Department of Transportation (DOT) and the National Highway Traffic Safety Administration (NHTSA), which aimed at standardizing the format and deployment of V2V transmissions to enable seamless deployment of V2V systems in vehicles. This will also increase the adoption of V2V technology, particularly in North America.
 

Cellular Vehicle-to-Everything Market, By Component  

The demand for C-V2X software applications is expected to accelerate from 2019 to 2025 to support V2P communication. Vehicle telematics applications are installed on smartphones or wearable devices used by pedestrians and use location-based technologies to give alerts regarding the vehicle and pedestrian location. The companies present in the Cellular Vehicle-to-Everything market are introducing smartphone apps based on C-V2X technology to enable real-time communication among various entities of the smart transport systems. In January 2019, Applied Information, Inc. introduced LTE-based C-V2X product that provides connectivity to traffic signals, emergency vehicles, and other traffic control devices across the U.S. The company’s V2N technology enables drivers, infrastructure, and pedestrians to connect with Applied Information’s TravelSafely smartphone app. By using the app, users can get alerts and warnings of potential crashes.
 

Cellular Vehicle-to-Everything Market, By Application

UK C-V2X Market Share, By Application, 2018
 

The autonomous driving segment is expected to grow at a CAGR of over 12% from 2019 to 2025. As the automobile industry is investing heavily for the development of autonomous cars, the demand for C-V2X solutions will increase to support various vehicular applications. Self-driving vehicles utilizing C-V2X technology will broadcast their current position to the surrounding traffic and also generate alerts to avoid accidents. As these vehicles require more precision and accuracy while path planning, C-V2X helps vehicles in reducing the risks associated with accidents or collisions by communicating with each other and roadside infrastructure. The growing investments for the development of autonomous vehicles will increase the demand for V2X to improve the capabilities of the vehicles by making them safer.
 

Cellular Vehicle-to-Everything Market, By Vehicle Type 

China Cellular Vehicle-to-Everything (C-V2X) Industry Size, By Vehicle Type, 2018 & 2025 (USD Million)
 

The passenger vehicles in the Cellular Vehicle-to-Everything market held a share of over 50% in 2018. Rise in the number of passenger vehicles equipped with C-V2X chipsets to improve driver and passenger safety while reducing accidents will fuel the market growth. As the automobile industry is changing with the introduction of next-generation technologies, the demand for passenger cars equipped with intuitive interfaces to support safety and entertainment applications will increase. According to the International Organization of Motor Vehicle Manufacturers, in 2018, approximately 23.5 million passenger cars and 4.3 million commercial vehicles were manufactured in China. According to the European Automobile Manufacturers Association (ACEA), in 2017, around 17 million passenger cars were manufactured in the European Union with the highest number of vehicles made in Germany (5.1 million), followed by Spain (2.3 million), France (1.8 million), and the UK (1.5 million). Various vehicle manufacturers are planning to introduce C-V2X technology in their models to facilitate driver assistance, reduce road congestion, and improve safety.
 

Cellular Vehicle-to-Everything Market, By Region

The Asia Pacific Cellular Vehicle-to-Everything market will grow at a CAGR of over 13% from 2019 to 2025 due to favorable government initiatives for the development of C-V2X technology in countries including China, South Korea, and Japan. In October 2018, the Chinese regulatory bodies allocated 5905-5925MHz band for LTE-V2X technology to support intelligent vehicles. Various trials are being conducted by the automakers and wireless carriers in these countries to check the potential of the technology for supporting smart transportation applications such as intelligent traffic systems and smart parking solutions. Also, rise in the number of passenger & commercial vehicles due to huge investments in the automobile industry and the development of smart cities will also spur the adoption of C-V2X technology to support smart transportation use cases.
 

Key Players, Recent Developments & Sector Viewpoints: Cellular Vehicle-to-Everything (C-V2X) Market


The companies present in the Cellular Vehicle-to-Everything market are developing new C-V2X chipsets and entering into agreements to gain traction in the market. For instance, in September 2017, Qualcomm introduced Qualcomm 9150 C-V2X chipset based on 3GPP Release 14 specifications for PC5-based direct communication. The company also introduced a new Qualcomm C-V2X Reference Design, which features 9150 chipsets with GNSS capability to enable automakers to accelerate commercial introduction. In December 2018, a South Korean telecom carrier, KT Corporation, developed a CV2X reader for autonomous cars to detect passers-by and traffic signals. The wireless carriers are also providing support to equipment manufacturers by enabling the trials of CV2X using their networks.
 

Some of the major companies operating in the C-V2X market are AT&T, Autotalks, Bosch, Commsignia, Continental AG, Genvict, Huawei, Infineon, Intel, Nokia, NTT Docomo, Qualcomm, Quectel Wireless, Savari, Ficosa, Keysight Technologies, and Rohde & Schwarz.
 

Industry Viewpoint
 

Vehicle-to-everything technology has revolutionized the automobile industry by enabling communications between the vehicles, infrastructure, and other devices in the vicinity. Compared to cameras and LiDAR sensors used previously for gathering vehicle-related information, the technology offers 360-degree viewing capabilities and enables real-time sharing of information to generate predictive insights. The technology has enabled the development of smart transportation systems and has the potential to transform information & safety services on roads to enhance travel. With the rise in the number of connected and autonomous cars, the demand for cellular vehicle technology will increase to support low-latency V2X communications for safety purposes.
 

Key Insights Covered: Exhaustive Cellular Vehicle-to-Everything (C-V2X) Market
1.  Market size (sales, revenue and growth rate) of Cellular Vehicle-to-Everything (C-V2X) industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Cellular Vehicle-to-Everything (C-V2X) industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cellular Vehicle-to-Everything (C-V2X) industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Cellular Vehicle-to-Everything (C-V2X) industry.

Research Methodology: Cellular Vehicle-to-Everything (C-V2X) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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