Cellular Vehicle-to-Everything (C-V2X) Market Industry Development Scenario and Forecast 2027

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Cellular Vehicle-to-Everything (C-V2X) Market: Introduction

  • V2X (Vehicle-to-everything) is a technology that enables vehicles to communicate with each other and with other road users and infrastructure, in order to enhance road safety and mobility. The technology utilizes wireless signals to communicate with compatible systems, thus enabling vehicles to improve their awareness about their surrounding objects.
  • The key objective of a V2X system is safety. In manned vehicles, V2X systems transmit important information to the driver in the form of alerts and notifications. In connected autonomous vehicles, V2X comprises sensors that enable vehicles to take more informed and coordinated decisions and take actions when needed.

Key Drivers of Cellular Vehicle-to-Everything (C-V2X) Market

  • Increase in demand for smart cities, vehicles and surge in research in technology, including advance drive assist system (ADAS) and connected vehicles is projected to boost the C-V2X market. Increase in demand for smartphones and technologies in smartphones is estimated to propel the C-V2X market, as connected vehicles can be operated through smartphone applications. A major feature included in connected vehicles is the detection of passenger health. The connected vehicle would automatically select the shortest possible route to the nearest hospital if onboard sensors on the vehicle detect failing health of a passenger. Such advance systems are expected to drive the C-V2X market.
  • C-V2X uses two corresponding communication mode, the first mode is the direct connection between the vehicle and the pedestrian. In this mode, C-V2X works autonomously of the cellular networks. The second mode is network communications, in which C-V2X employs the conventional mobile network to allow a vehicle to receive information about traffic and road conditions in the surroundings of the vehicle.

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Asia Pacific to hold prominent share of global cellular Vehicle-to-Everything(C-V2X) market

  • Asia Pacific accounted for a significant share of the C-V2X market. Increasing research and development on electric vehicles and autonomous vehicle (AVs) in China, Japan, and India is propelling the C-V2X market in Asia Pacific. North America is witnessing rapid adoption of autonomous vehicles, which in turn to boosts the C-V2X market. Newly developed EVs and AVs are integrated with major safety features including ADAS, park assist, C-V2X System which in turn is estimated to propel the global C-V2X market.
  • North America has witnessed rapid increase in adoption of advanced drive assist system (ADAS), which in turn is projected to boost the C-V2X market in the region. New entrants in the automotive market in China, India, Japan, and South Korea are likely to influence research and development on internet connectivity in the automotive market in Asia Pacific.

Latest Press Release by TMR: https://www.prnewswire.com/news-releases/global-semi-trailer-market-to-exceed-valuation-of-us24-bn-by-2026-demand-from-road-freight-from-heavy-industry-drive-sales-concludes-a-tmr-study-301003597.html

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