Pune, Jan. 23, 2023 (GLOBE NEWSWIRE) — Maximize Market research has published a market intelligence and industry analysis report on “Automotive V2X Market“. Automotive V2X Market accounted for USD 1.88 billion in 2021 and is expected to reach USD 25.02 billion by 2029 at a CAGR of 38.2 % during the forecast period.
Automotive V2X Market Scope and Research Methodology
The report on Automotive V2X Market is a comprehensive analysis that covers trends and highlights prevailing in the Automotive V2X Market, helping clients explore the opportunities and formulate strategies in the market. Analysis of key market players and new entrants is provided based on goods and services offered, revenue, financial status, portfolio, growth strategies, and regional presence. Recent developments regarding acquisitions and mergers, and the strategic stance of the companies with information on joint alliances give an accurate picture of the competitive landscape in the Automotive V2X Market. To understand the products and services of the Automotive V2X Market, segment-wise analysis is conducted by type, function and end-use industry equipped with factors affecting the market and current technological changes and innovations adopted. The report also explains in detail the drivers, challenges, restraints and challenges of the Automotive V2X Market. Regional analysis of the market focusing on the local, regional and global levels is provided to prove as a guide for market followers and entrants to develop pricing and marketing strategies.
The bottom-up approach was used for market estimation and global market trend analysis. Data was collected employing both primary and secondary research methods for a large sample to get accurate inferences. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to understand the strengths and weaknesses of key companies and PESTLE to grasp the various factors affecting the market. Thus the report provides a complete overview of the Automotive V2X Market.
Get a Sample PDF Brochure:
https://www.maximizemarketresearch.com/request-sample/9764
Automotive V2X Market Overview
Vehicle-to-everything (V2X) technology for the automotive industry enables communication between cars to learn about any obstructions, such as infrastructure, traffic lights, toll gates, pedestrians, or other parts in a space with heavy traffic. The idea of an intelligent transportation system (ITS) is supported and aids in enhancing road safety through the use of cutting-edge technical advancements and effective traffic management.
Automotive V2X Market Dynamics
The global market demand is being driven by factors such as the increasing usage of connected automobiles globally, the amount of technological breakthroughs in the automotive industry, as well as recent strategic initiatives from top market players. For instance, Statista estimates that the global market for connected cars would be worth USD 65 billion in 2020.
By 2025, it is expected that this market will increase to USD 121 billion. Furthermore, the development of the global automotive V2X market would be impacted by strategic initiatives from governmental bodies. For instance, the Vehicle to Everything (V2X) Memorandum of Understanding was unveiled by the US Department of Energy (DOE) and partners in April 2022. (MOU). During the forecast period, it is predicted that the growing use of 5G and AI technologies as well as rising personal vehicle ownership in emerging economies would act as a catalyst for market demand. Over the projection period of 2022–2029, the market will likely continue to develop, but high implementation and maintenance costs associated with V2X technology and …
