Automotive V2X Market to Hit USD 11,088.1 Million by 2029; Traffic Safety Benefits to Fuel Market Growth

The global automotive V2X market size is anticipated to hit USD 11,088.1 million by 2029 at a stellar CAGR of 45.2% during 2022-2029. Fortune Business Insights^TM in its report titled, “Automotive V2X Market Size, Share & COVID-19 Impact Analysis, By Connectivity Type (DSRC, Cellular), By Communication Type (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Others), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Unit Type (Onboard Unit, Roadside Unit), and Regional Forecast, 2022-2029”, observes that the market size stood at USD 628.9 million in 2021 and USD 813.9 million in 2022. Traffic safety benefits and economic savings due to automotive V2X are expected to fuel market growth.

The swift digitalization experienced during the pandemic has significantly boosted the market growth. The increased investments in future-mobility technologies, such as vehicle-to everything, vehicle-to-infrastructure, connectivity, have provided high impetus and benefitted the market. The favorable government regulations regarding the use of autonomous vehicles have boosted automotive V2X adoption.

Iteris and Contentinal’s Collaboration to Launch V2X Enabled Detection Solution to Incite Development

In December 2021, Continental and Iteris partnered to launch Vantage Fusion, a new V2X-enabled detection solution, at ITS America’s annual meeting 2021. The hybrid traffic detection system will offer advanced intersection visualization and real-world V2X applications such as vehicle, pedestrian, and cyclists’ accuracy classification. The developments in technology are likely to open greater growth avenues in the coming years.

Traffic Safety Benefits to Fuel Market Growth

Fatalities due to vehicular-related accidents are very high. The U.S. Department for Transportation’s research estimated that up to 80% road accidents can be averted using automotive V2X. It can detect and alert drivers of unforeseen objects. It can also decelerate vehicle to avoid crash. These traffic safety benefits are likely to bolster the automotive V2X market growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/automotive-v2x-market-103320

LG Electronics Leads Market due to Diverse Patent Portfolio

The market comprises several key players with LG Electronics dominating the market share. It offers a diverse patent portfolio and is known for holding the second-largest patent count for this technology. The major market players emphasize new product launches, technological developments, partnerships, and others to amplify their market positions and revenues. For instance, Foxconn Interconnect Technologies invested USD 10 million in Autotalks in November 2021 to magnify V2X penetration in micro-mobility segments.

Key Industry Development-

• November 2021 – Foxconn Interconnect Technologies, a subsidiary of Foxconn, announced to invest USD 10 million in Autotalks to accelerate V2X penetration across automotive and micro-mobility segments

List of Key Market Players-

• Denso Corporation (Japan)


• Aptiv (Ireland)


• Infineon Technologies AG (Germany)


• Continental AG (Germany)


• Qualcomm Technologies, Inc. (U.S.)


• Autotalks Ltd. (Israel)


• Cohda Wireless (Australia)


• Kapsch TrafficCom (Austria)


• Savari Inc. (U.S.)


• Lear Corporation (U.S.)


• LG Electronics (South Korea)


• Ford Motor Company (U.S.)


• Robert Bosch GmbH (Germany)


• NXP Semiconductors (Netherlands)


• Harman International (U.S.)

Further Report Findings-

• Asia Pacific is projected to gain the largest market share. The growing research and development activities by major OEMs and telecommunication technology providers are expected to drive the region’s market growth. China and Japan are likely to dominate in Asia Pacific.


• According to the segmentation based on communication type, the vehicle-to-infrastructure (V2I) segment is anticipated to witness substantial growth during the forecast period.

Table of Segmentation-