Pune, India, Sept. 14, 2022 (GLOBE NEWSWIRE) — The global Automotive V2X market size is expected to reach $11,088.1 million by the end of 2029. Traffic safety benefits and economic savings due to V2X in automotive are expected to drive market growth. According to a report published by Fortune Business Insights 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), Other), By Vehicle Type (Car, Commercial Vehicle), By Unit Type (Onboard Unit, Roadside Unit) and Regional Forecast, 2022-2029″, the market was in 2021 Worth US$628.9 million and will experience a CAGR of 45.2% over the forecast period 2022-2029.
Automotive V2X technology can detect congestion-causing factors and help vehicles alleviate congestion on the road. The technology can help reduce delays in the supply chain by detecting roadblocks. This facilitates more efficient transportation and increases economic savings. The economic savings due to V2X technology are likely to accumulate the growth of the market.
Industry Developments-
November 2020: Subaru Corporation and Softbank Corp. successfully verified the world’s first on-premise vehicle support utilizing Cellular V2X and 5G.
Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-v2x-market-103320
Scope and segmentation of the report:
| report coverage | details |
| forecast period | 2022-2029 |
| Forecast period 2022 to 2029 CAGR | 45.2% |
| Value prognosis 2029 | $11,088.1 million |
| base year | 2021 |
| Market size in 2022 | $813.9 million |
| Historical data for | 2018-2020 |
| number of pages | 165 |
| segments covered | By connectivity type, by communication type, by vehicle type, by unit type |
| growth accelerator | Asia-Pacific will gain the largest share due to increasing demand for autonomous vehicles |
| Increased road safety benefits to… |
