The global Cellular Vehicle-to-Everything (C-V2X) market is expected to grow at noteworthy CAGR around 9.7 % throughout the forecast period and reach around US$ 1.1 billion by 2026.
Cellular vehicle to everything (C-V2X) refers to the network that combines V2V (Motor to vehicle) features, V2P (Motor to path), V2 G (Motor to grid) and V2N (motor to grid). The all-in-one mobile vehicle is created based upon LTE technology in V2X schemes, using 3GPP V2X technology. Many car companies use C-V2X to connect in cars to allow communications between cars. Based on LTE cellular technology, the mobile vehicle is intended to link cars, facilities on the road, cloud-based services, football, etc. This cell-to-all mobile car is a reliable, real-time communication solution and also provides a range of services like pay as you drive insurance, linked infotainment, car diagnostics and security. The mobile cars can improve autonomous driving in cars with the assistance of sensors and communication systems. The aim of this cellular vehicles technique is to improve the security and data of cars and to develop smart transport systems that decrease congestion and pollution, using sophisticated connectivity. Many major manufacturers of mobile devices, mobile operators and automakers collaborate in mobile vehicle testing.
The report provides analysis of global Cellular Vehicle-to-Everything (C-V2X) market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
The Cellular Vehicle to All market is anticipated to see a significant increase over the planned time line as it supports vehicle communications facilities for enhancing traffic safety and optimization so that transportation resources can be better utilized. The car sector is developing into linked and independent cars with advantages such as improved security, reduced traffic congestion and poor environmental effect. C-V2X is an important factor in the development of cars, pedestrians and roadside units by providing communication, thus enhancing awareness of situation and preventing accidents. In order to promote clever transport apps including obstacle detection, collision warning and prevention, the quick commercialisation of cellular systems, such as LTE is also possible. And lane support will stimulate the development of the market. The continued effort by private enterprises, industrial associations and government agencies to conduct tests on 4 G LTE and 5 G networks combining 802.11p / DSRC and C-V 2X and to develop the infrastructure needed to support C-V 2X apps, is another factor increasing market growth. For example, in October 2017 the testing technique was carried out in San Diego by Ford, AT&T, Qualcomm and Nokia. The test proved C-V2X's potential for automated driving, security and transport effectiveness.
Communication Type Outlook
The Vehicle to vehicle sector (V2V), which promotes communication among vegetables at velocity, placement and direction and offers visual or audio alerts for a higher 360-degree situational awarenesse, is anticipated to be largely part of the market share on the mobile vehicle to everything market in 2025. The demand for chipsets that can help V2V communications will rise over the years while enabling cars to interact with traffic lights and signs improved traffic management. V2V is also one of the main U.S. components. Smart Transportation Systems (ITS), a U.S. concept Transportation Department (DOT) and the National Administration for Traffic Safety (NHTSA), aimed at standardizing V2V transmittals format and implementation so that V2V devices are deployed on the cars seamlessly. In particular in North America, this will boost the implementation of V2V technology.
From 2019 to 2025, demand is provisionally accelerating for C-V2X software applications to enable V2P communication. Telematics apps for vehicles are mounted on smartphones or on wearable pedestrian equipment and use location systems to warn of the place of cars and pedestrians. In the mobile vehicle market, businesses current smartphone apps using C-V2X technology allow communication in real time between different businesses in the intelligent transport systems. Applied Information Inc. launched the C-V2X LTE-based product in January 2019 that offers connectivity to the United States ' traffic signals, cars of emergency and other traffic control devices. Drivers, infrastructure and pedestrians can use V2N technology in order to connect to the TravelSafely smartphone application of Applied Information. Users can receive warnings of possible accidents using the application.
From 2019 to 2026, the independent driving section is anticipated to increase by over 12.5% in a CAGR. Since the car industry invests strongly in autonomous vehicles, the demand for C-V2X alternatives will rise for different vehicles. The C-V2X self-driving vehicles will also transmit their present position to the surrounding traffic and produce warnings to prevent accidents. Since these cars require increased accuracy and precision during track planning, C-V2X enables cars with communications between road and other infrastructures reduce the hazards related to accidents or collision. Increasingly investing in autonomous vehicle growth will boost the V2X demand to enhance vehicle skills by increasing their safety.
In 2018, passenger cars retained a share of more than 51% in the Cellular Vehicle to Everything industry. An increase in the amount of passenger cars with C-V2X chipsets will fuel market development in order to increase driver and passenger security while decreasing accidents. With the advent of next generation technologies, as the automotive industry changes, demand for passenger vehicles fitted with intuitive interfaces will improve for security and entertainment apps. Around 23.7 million passenger cars and 4.4 million business vehicles were made in China in 2018, according to the International Organisation.
As a result of government-led projects to develop C-V2X technology, the Asia Pacific Cellular Vehicle-to-Everything market will expand more than 13.5% at the CAGR in China, South Korea and Japan. In October 2018, 5905-5925MHz band was awarded by the Chinese legislative bodies to LTE-V2X to promote smart cars. Various studies of technology prospective support for smart transport apps such as smart traffic and smart parking systems are performed in these nations with car manufacturers and wireless carriers. Increased passenger & commercial car volume will also encourage implementation of C-V2X technology in support of intelligent use instances, owing to massive investments in the automotive sector and the growth of intelligent towns.
Global Cellular Vehicle-to-Everything (C-V2X) Market, By Communication Type
Global Cellular Vehicle-to-Everything (C-V2X) Market, By Application
Global Cellular Vehicle-to-Everything (C-V2X) Market, By Component
Global Cellular Vehicle-to-Everything (C-V2X) Market, By Vehicle Type
Global Cellular Vehicle-to-Everything (C-V2X) Market, By Geography
The market research study on “Cellular Vehicle-to-Everything (C-V2X) Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Cellular Vehicle-to-Everything (C-V2X) market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
The businesses current on the mobile vehicle-to-all market develop fresh C-V2X chipsets and conclude contracts for market traction. Qualcomm launched Qualcomm 9150 C-V2X chipset based on 3GPP release 14 requirements for direct PC5 communication in September 2017, for example. The firm has also implemented a fresh C-V2X Qualcomm Reference Design with 9150 GNSS capabilities, which allows car manufacturers to quickly introduce their products in a business way. In December 2018 a CV2X reader for autonomous cars was created to detect transients and traffic signals by the South Korean telecom carrier, the KT Corporation. The wireless carriers also support device makers by allowing their networks to test CV2X.
Some of the key companies operating in the C-V2X market are AT&T, Autotalks, Robert Bosch GmbH, Genvict, Commsignia, Continental AG, Quectel Wireless Solutions Co., Ltd., Infineon, Huawei, Intel, Savari, Ficosa, Nokia, NTT Docomo, Qualcomm, Keysight Technologies, and Rohde & Schwarz. The growing demands for motor vehicle technology for low-latency V2X communication for safety reasons will improve with linked and autonomous cars.
The automotive industry has been revolutionized by vehicle-to-ever technology, which enables communications between nearby cars, infrastructure and other devices. The technology provides 360-degree viewing capacities and allows for real time data sharing to produce predictive perspectives compared to cameras and LiDAR sensors earlier used to collect car-related data. The technology has allowed the creation of intelligent transport systems and is able to transform travel-enhancing information & security services.