V2X Chipset Market Overview:
V2X Chipset Market size is estimated
to reach $14.4 Billion by 2030, growing at a CAGR of 38.2% during the forecast period 2024-2030. The V2X (Vehicle-to-Everything)
chipset market refers to the industry involved in the development,
manufacturing, and distribution of semiconductors or chipsets specifically
designed for V2X communication in vehicles. Vehicle-to-structure
(V2I), vehicle-to-pedestrian (V2P), and other environmental aspects can all be
communicated with by cars through V2X communication (also known as
vehicle-to-network, or V2N).
These chipsets play a pivotal role in facilitating reliable and low-latency communication, supporting applications such as advanced driver assistance systems (ADAS), cooperative collision avoidance, traffic efficiency, and overall improvement in road safety. The V2X chipset market is part of the broader ecosystem that drives the implementation of connected vehicle technologies, contributing to the evolution of smart and efficient transportation systems.
Market Snapshot:
--
V2X Chipset Market - Report Coverage:
The “V2X Chipset Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the V2X Chipset Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
l The COVID-19 pandemic has had mixed impacts on the V2X chipset market. On
one hand, the automotive industry faced disruptions in production and supply
chains, leading to delays in the deployment of connected vehicle technologies.
However, the pandemic also underscored the importance of smart and connected
transportation solutions for safety and efficiency. As the automotive sector gradually recovers,
there is a renewed focus on V2X technology as a key enabler for future
mobility. The increasing emphasis on contactless and automated solutions may
further drive the adoption of V2X chipsets in the post-pandemic landscape, with
governments and industry stakeholders recognizing the potential for such
technologies to enhance overall public safety in transportation systems.
l The Ukraine crisis could disrupt the V2X Chipset Market by causing Geopolitical tensions and crises Which can potentially influence global markets, including technology sectors.
Factors like disruptions in supply chains, geopolitical uncertainties, and
economic impacts may have consequences on the V2X chipset market, as well as
the broader automotive and technology industries.
Key Takeaways:
Growing Use of V2X
Chipset in Cellular Segment
The
deployment of 5G networks significantly enhances the capabilities of cellular
communication, providing low-latency and high-bandwidth connections. This is
crucial for V2X applications, where real-time communication is essential for
ensuring the safety and efficiency of connected vehicles. Cellular networks
offer broader coverage compared to other communication technologies. This
extended range is advantageous for V2X applications, especially in scenarios
where vehicles need to communicate over longer distances or in areas with
varying infrastructure support. Cellular networks operate on globally
standardized protocols, ensuring interoperability and seamless communication
across different regions. This standardization simplifies the integration of V2X
technology and facilitates its adoption on a larger scale.
Development in Connected
Car Technology
Connected car technology involves
integrating vehicles with various communication and sensor technologies to
enhance safety, efficiency, and the overall driving experience. V2X
communication is a crucial component of this connectivity, enabling vehicles to
communicate with each other and with the surrounding infrastructure. As
connected car technology advances, there is a growing need for reliable and
efficient V2X chipsets to facilitate communication between vehicles and the
surrounding environment. This includes Vehicle-to-Vehicle (V2V) communication
for sharing information between cars, Vehicle-to-Infrastructure (V2I)
communication for interaction with traffic signals and infrastructure, and
broader Vehicle-to-Everything (V2X) communication encompassing pedestrians and
other elements.
Fastest Growth of Asia
Pacific Region
APAC
to witness the highest CAGR 40.6% from 2024 to 2030. The Asia Pacific region is
experiencing significant urbanization and population growth, leading to
increased traffic congestion and the need for advanced transportation
solutions. Asia Pacific is a major hub for vehicle production, with many
leading automotive manufacturers having production facilities in the region.V2X
technology addresses these challenges by improving traffic flow, enhancing road
safety, and enabling smarter transportation systems. Many countries in the Asia
Pacific region are actively promoting smart transportation initiatives and
setting regulations to encourage the adoption of V2X technology. Government
support and regulatory frameworks play a crucial role in driving the deployment
of V2X solutions, creating a conducive environment for market growth.
Lack of Infrastructure
The lack of infrastructure can pose challenges to the widespread
adoption of V2X (Vehicle-to-Everything) technology. V2X communication relies on
a robust and interconnected infrastructure to enable effective communication
between vehicles and the surrounding environment. In areas with inadequate
infrastructure support, the deployment of V2X-enabled devices, such as roadside
units and communication equipment, may be limited. This hinders the
establishment of a comprehensive V2X ecosystem. Insufficient infrastructure may
lead to communication obstacles, including signal interference and unreliable
connectivity. This can impact the reliability of V2X communication, which is
critical for ensuring the safety and efficiency of connected vehicles.
Vulnerability to Cyber Attack
The vulnerability to cyber attacks is a critical consideration in the development and adoption of V2X (Vehicle-to-Everything) technology. As vehicles become more connected and rely on V2X communication, the cybersecurity of these systems becomes paramount. The extensive connectivity in V2X systems opens up new avenues for potential cyber threats. Unauthorized access to V2X communication can lead to malicious activities, posing risks to the safety and privacy of connected vehicles. V2X communication involves the exchange of sensitive information between vehicles and infrastructure. The vulnerability to cyber attacks raises concerns about the security of this data, including location information and real-time traffic data.
V2X Chipset Market Share (%) By
Region, 2023
For More Details on This Report - Request for Sample
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the V2X Chipset Market. The top 10 companies in this industry are listed below:
- Continental AG
- Infineon Technologies AG
- Robert Bosch Gmbh
- Delphi Technologies
- Denso Corporation
- Stmicroelectronics N.V
- NXP Semiconductors
- Qualcomm Technologies
- Autotalks Ltd
- Harman International
Scope of Report:
The V2X Chipset Market is projected to grow at 38.2% CAGR during the forecast period 2024-2030.
Global V2X Chipset Market size is estimated to be $1.5 Billion in 2023 and is projected to reach $14.4 Billion by 2030.
The leading players in the V2X Chipset Market are Continental AG, Infineon Technologies AG, Robert Bosch Gmbh, Delphi Technologies, Denso Corporation, Stmicroelectronics N.V, NXP Semiconductors, Qualcomm Technologies, Autotalks Ltd, Harman International and Others.
Growing Use of V2X Chipset in Cellular Segment, Development in connected car technology are some of the major V2X Chipset Market trends in the industry which will create growth opportunities for the market during the forecast period
Government Support for V2X Technology, Future Potential Of Cellular V2X And AI Technologies are the driving Factors and opportunities of the market.