San Francisco, California, October 09, 2017: A fresh intelligence study by TMR Research as highlighted that the automotive industry is flourishing in emerging economies and developed countries are experiencing incremented demand since the commercialization of electric vehicles. At the same time, the market is also witnessing growing demand for connectivity features for the vehicles that improve safety and security, enhance road performance, extend fuel economy, and offer benefits in terms of preventing accidents. Consequently, the TMR Research report projects the demand in the global automotive vehicle-to-everything (V2X) Market to expand at a notable CAGR during the forecast period of 2017 to 2025.
The report, developed by a group of professional and experienced research analysts, aspires to serve as a credible business tool for its targeted audiences such as automotive manufacturers, original equipment manufacturers (OEMs), research laboratories in universities pertaining to mechanical and electrical subjects, government institutions, and research institutes. The report begins with an overview of the current scenario of the market for automotive V2X, explores and assess every important dynamic such as trends, drivers, and restraints, segments the market into smaller aspects, gauges the potential of some of the key regions and countries, and dedicates a whole chapter on competitive landscape, represent the shares current reserved by leading players and analyzing their recent strategic decisions.
As per the findings of the report, the global automotive vehicle-to-everything market will gain traction from a number of factors, such as growing awareness and popularity of real-time traffic and accident alerts among a majority of consumers, increasing financial aid from various governments for better traffic management, and increasing environmental concerns that is leading to the adoption of connected vehicles. On the other hand, lack of cellular connectivity coverage in developing countries, lack of proper infrastructure in various emerging economies, increased cost of the vehicles with modern technology, reluctance to adopt new technology, and need to secure the data generated by vehicles are a few factors that will mitigate the prosperity of the global automotive V2X market. Nevertheless, the vendors operating in this market are expected to gain whole new opportunities from the advent of autonomous cars and predictive maintenance using real-time monitoring.
Based on communication type, the automotive V2X market can be segmented into vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), vehicle-to-home (V2H), vehicle-to-grid (V2G), and vehicle-to-network (V2N). On the basis of connectivity type, this market can be bifurcated into DSRC and cellular connectivity. Classification based on vehicle type can be passenger and commercial, whereas application-wise, the market can be categorized into intelligent traffic system, automated driver assistance, passenger information system, emergency vehicle notification, fleet and asset management, packing management system, remote monitoring and diagnostics, and predictive maintenance.
Geographically, the developed country of the U.S., which is also the fourth most populated country in the world, makes North America the most lucrative region in the global automotive vehicle to everything market. High adoptability rate of new technology, high buying capability of residents of the U.S. and Canada, and presence of a large number of vendors who lead this market are some of the key factors that will keep the North America automotive V2X market in good stead.
Continental AG, Qualcomm Inc., Delphi Automotive PLC, Infineon Technologies AG, and Cisco Systems, Inc. are some of the prominent companies currently holding a position of strength in the global automotive vehicle-to-everything market. All of these companies and most others are constantly improving their technology and product portfolio in order to stay ahead of the curve.
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