Vehicle connectivity market to surpass US$1b by 2022
Vehicle-to-Everything (V2X) market communications ecosystem will account for a market worth US$1.2 Billion by 2022, according to a report by ReportsnReports.com.
The report is titled ‘Vehicle-to-Everything (V2X) Market Communications Ecosystem: 2019 – 2030 – Opportunities, Challenges, Strategies - Forecasts'.
Commonly referred to as V2X, vehicle-to-everything communications technology allows vehicles to directly communicate with each other, roadside infrastructure, and other road users to deliver an array of benefits in the form of road safety, traffic efficiency, smart mobility, environmental sustainability, and driver convenience.
In addition, V2X is also helping pave the way for fully autonomous driving through its unique non-line-of-sight sensing capability which allows vehicles to detect potential hazards, traffic, and road conditions from longer distances and sooner than other in-vehicle sensors such as cameras, radar, and LiDAR (Light Detection and Ranging).
Although legacy V2I (Vehicle-to-Infrastructure) technologies are currently in operational use worldwide for ETC (Electronic Toll Collection) and relatively simple V2I applications, advanced V2X systems – capable of supporting V2V (Vehicle-to-Vehicle), V2I and other forms of V2X communications – are beginning to gain broad commercial acceptance.
Two competing technologies are vying for the attention of automakers and regulators: the commercially mature IEEE 802.11p/DSRC (Dedicated Short Range Communications) standard, and the relatively new 3GPP-defined C-V2X (Cellular V2X) technology which has a forward evolutionary path towards 5G.
With an initial focus on road safety and traffic efficiency applications, Toyota and GM (General Motors) have already equipped some of their vehicle models with IEEE 802.11p-based V2X technology in Japan and North America.
Among other commercial commitments, Volkswagen will begin deploying IEEE 802.11p on volume models in Europe starting from 2019, while Geely and Ford plan to integrate C-V2X in their new vehicles by 2021 and 2022 respectively.
It is also worth noting that a number of luxury automakers – including BMW, Daimler, Volkswagen's subsidiary Audi, and Volvo Cars – already deliver certain V2X-type applications through wide-area cellular connectivity and supporting infrastructure such as appropriately equipped roadwork trailers.
Despite the ongoing 802.11p/DSRC versus C-V2X debate, regulatory uncertainty and other challenges, global spending on V2X communications technology is expected to grow at a CAGR of more than 170% between 2019 and 2022.
Research predicts that by the end of 2022, V2X will account for a market worth $1.2 Billion, with an installed base of nearly 6 Million V2X-equipped vehicles worldwide.
The report presents an in-depth assessment of the V2X ecosystem including:
- market drivers,
- enabling technologies,
- application scenarios,
- use cases,
- business models,
- key trends,
- spectrum availability/allocation,
- regulatory landscape,
- V2X deployment case studies,
- future roadmap,
- value chain,
- ecosystem player profiles and,
The report also presents market size forecasts from 2019 till 2030. The forecasts cover four submarkets, two air interface technologies, 10 application categories and five regions.