V2X Chipset Market - Forecast(2024 - 2030)

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:
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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

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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:

1. Continental AG
2. Infineon Technologies AG
3. Robert Bosch Gmbh
4. Delphi Technologies
5. Denso Corporation
6. Stmicroelectronics N.V
7. NXP Semiconductors
8. Qualcomm Technologies
9. Autotalks Ltd
10. Harman International

Scope of Report: