V2X Chipset Market Size Worth $14.4 Billion By 2030: IndustryARC

The Global V2X Chipset Market size is predicted to reach $14.4 Billion by 2030, growing at a CAGR of 38.2% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. 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, that are fueling the growth of the V2X Chipset Market during the forecast period, finds IndustryARC in its recent report, titled “V2X Chipset Market Size, Share & Trends Analysis Report By Type (Vehicle to Cloud (V2C), Vehicle to Device (V2D), Vehicle to Grid (V2G), Vehicle to Pedestrian (V2P), Vehicle to Vehicle (V2V), Vehicle to Network (V2N), Vehicle to Infrastructure (V2I), By Vehicle Type (Commercial Vehicles, Passenger Vehicles, Electric Vehicles), By Application (Road Safety Service, Automatic Parking System, Auto Car Service, Traffic Management, Fleet Management, Emergency Vehicle Notification), By Communication (DSRC, Cellular V2X) By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030

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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. 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.

 

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       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.

      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.

       The rapid evolution of communication protocols, such as DSRC (Dedicated Short-Range Communication) and C-V2X (Cellular Vehicle-to-Everything), enhances the capabilities of V2X chipsets, allowing for more efficient and reliable data exchange between vehicles and their surroundings. Technological advancements enable the miniaturization of V2X chipsets while maintaining or improving their performance. This allows for seamless integration into various vehicle models without compromising on space or design. Ongoing technological developments, especially with the deployment of 5G technology, result in higher data transfer speeds. This is crucial for V2X communication, supporting the exchange of real-time information in a more responsive and effective manner.

       5G technology provides significantly higher data transfer speeds compared to its predecessors. This high-speed connectivity is crucial for V2X communication, enabling quick and reliable exchange of real-time information among vehicles, infrastructure, and other elements in the ecosystem. 5G networks offer low-latency communication, reducing the time it takes for data to travel between connected devices. This low latency is essential for time-sensitive applications in V2X scenarios, such as collision avoidance systems, enhancing overall safety on the roads.

        Governments worldwide play a crucial role in establishing regulatory frameworks that mandate or encourage the implementation of V2X technology in vehicles. These regulations often create a market demand for V2X chipsets as automotive manufacturers strive to comply with the set standards. Government initiatives to develop smart transportation infrastructure, including V2X communication networks, contribute to the growth of the V2X chipset market. Investments in roadside units, traffic management systems, and communication infrastructure create opportunities for chipset manufacturers.

        Cellular V2X, especially with the deployment of 5G networks, offers advanced communication capabilities, including low latency and high bandwidth. This enables faster and more reliable exchange of data between vehicles and the surrounding environment, driving the demand for sophisticated V2X chipsets capable of leveraging these capabilities. AI technologies play a crucial role in processing and analyzing the vast amounts of data generated by V2X communication. AI algorithms can interpret complex traffic scenarios, predict potential hazards, and facilitate intelligent decision-making in real-time. The integration of AI with V2X chipsets enhances the overall effectiveness of connected vehicle systems.

       

● V2X Chipset Market Size and Forecast 

● V2X Chipset Market Trends

● V2X Chipset Market Analysis by Type

● CAGR of the market during the forecast period 2024-2030

● Value Chain analysis of key stake holders

● Detailed analysis of market drivers and opportunities during the forecast period

● V2X Chipset Market size estimation and forecast

● Analysis and predictions on end users’ behavior and upcoming trends 

● Competitive landscape and Vendor market analysis including offerings, developments, and financials

● Comprehensive analysis of challenges and constraints in the V2X Chipset Market

 

The key companies profiled in the V2X Chipset Market Report are listed below:

Wireless Communication Chipsets Market –With the onset of the Internet, the European and American markets were the first to capitalize on the growth and the technology, which was made available. The proliferation of the internet took place soon in the APAC region and it wasn’t long before the entire globe was connected. Following this, the next level of development in terms of Internet penetration across individual countries across the globe. Many countries have almost 100 percent internet penetration and are now looking at providing faster and better services.

Autonomous Driving Chipset Market – The Market for Autonomous Driving Chipset was around $1.83bn in 2019 and is estimated to reach $7.77bn by 2025, growing at a healthy 38.1% CAGR during the forecast period. The artificial intelligent (AI) chip in the autonomous driving system is the most critical component and also a new opportunity for SoC designers. Driven by Tesla, many vendors have joined the race to design chips for autonomous driving over the past few years.

DSRC Technology Market–  DSRC has been widely used because of some unique properties such as low latency and high reliability. The overall market of DSRC On-board units and roadside units in the year 2017 amounted to be $100.6m. Also, the global DSRC market for passenger vehicle was estimated to be $60.7m in the same year and is estimated to grow at a CAGR of 6.8% for the forecast period. Government support, regulations, and increasing awareness for safety measures will drive the DSRC market.

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.  

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.

 

Mr. Venkat Reddy

IndustryARC

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