According to a research report titled ‘Global Automotive V2X Market Analysis, 2020’, available with Market Study Report, global automotive V2X market is projected to grow at a annual rate of 45% during the forecast period 2021-2026.
 

As per the findings of the report, growing concerns regarding vehicle emissions, stringent rules and regulations for public safety & security, as well as rising inclination toward vehicles equipped with innovative features like vehicle-to-vehicle connectivity are spurring the growth of worldwide automotive V2X market.
 

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Furthermore, increased government initiatives towards promoting electric vehicle sales, introduction of larger fleet sizes for passenger cars, and escalating adoption of electronics in vehicles are enhancing the industry outlook.
 

For those unversed, Vehicle to Everything (V2X) is a technology that allows vehicles to communicate with the moving part of the traffic system near them.
 

Based on offering, global automotive V2X market is split into hardware and software. By communication type, the industry is arrayed into Vehicle-to-Infrastructure (V2I), Vehicle-to-Vehicle (V2V), Vehicle-to-Pedestrian (V2P), Vehicle-to-Network (V2N), Vehicle-to-Home (V2H), and Vehicle-to-Grid (V2G) communications.
 

Moving on to connectivity type, the market space comprises of dedicated short-range communications (DSRC) and cellular connectivity. By sales channel, global automotive V2X market constitutes OEM and aftermarket segments.
 

Lastly classifying on the basis of vehicle type, the industry is arrayed into commercial vehicles, passenger cars, and electric vehicles. Among these, the electric vehicle (EV) segment is projected to record significant growth during the forecast period. Factors such as surging consumer preference toward EVs due developing consumer consciousness regarding environmental health, along government initiatives aimed at carbon emission reduction by promoting EV sales are creating opportunities for segmental growth.
 

Besides this, the passenger vehicle segment is also expected to register a robust growth rate on account of significant rise in the number of passenger cars with V2X technology, rising disposable incomes, and increasing volume of passenger cars sales in the Asia Pacific region.
 

Major contenders in global automotive V2X market space are Huawei Technologies Co., Ltd., Neusoft Corp., Cohda Wireless Pty., Ltd., Autotalks Ltd., Denso Corp., Infineon Technologies A.G., Cisco Systems, Inc., Mobileye, Harman International Industries, Inc., TomTom International B.V., Robert Bosch GmbH, NXP Semiconductors N.V., Qualcomm, Inc., Delphi Automotive LLP, and Continental A.G.