Cellular Vehicle-to-Everything Market Overview:
Rapid urbanisation, increased vehicle sales, manufacturing, and vehicle electrification are the major factors driving the growth of the Cellular Vehicle-to-Everything (C-V2X) market. The global automotive industry's rapid expansion and rising vehicle demand are propelling the market forward. Adoption of advanced technology, as well as rising demand for autonomous vehicles, is another major factor driving market growth. Rising road safety awareness and the popularity of vehicle telematics both contribute to market growth. Urbanization and the growing number of smart cities are two major factors that will drive market growth in the near future.
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COVID-19 Impact Analysis on Cellular Vehicle-to-Everything Market:
End-user sectors where Cellular Vehicle-to-Everything are used experienced a decline in growth from January to May in several countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of firms operating in these industries and, as a result, in demand for Cellular Vehicle-to-Everything manufacturers, influencing the development of the Cellular Vehicle-to-Everything market in 2020. End-user business demand for Cellular Vehicle-to-Everything has dropped significantly because of lockdowns and an increase in COVID-19 incidents worldwide.
Market Scope:
To identify and gather appropriate samples for this study, this market report heavily relies on secondary sources, directories, and databases, such as annual reports, press releases, journals, online content, and other databases.
The main restraints for this market are a lack of infrastructure and cellular coverage in developing countries, as well as network security and privacy concerns. The low rate of adoption of advanced technology in the vehicle-to-everything market is impeding market growth. The impact of pandemic COVID-19 on the global economy has a negative impact on the automotive and service sectors, stifling market growth during the forecast period.
Segmentation:
The global Cellular Vehicle-to-Everything (C-V2X) market is divided into four segments: communication, vehicle type, application, and region. Increasing awareness about safety concerns because of rising road accidents is expected to drive the vehicle-to-vehicle segment, as it improves vehicle safety features such as lane change warning and forward collision warning. The rise in the population of emerging nations and rapid urbanisation increase the demand for passenger vehicles, so the passenger vehicle segment of vehicle type is expected to grow at the fastest rate during the forecast period, while the light vehicle segment is expected to grow at a moderate rate.
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Key Players:
Primary and secondary research are used to identify market leaders, while primary and secondary research are used to establish market revenue. Primary research comprised thorough interviews with key thought leaders and industry professionals such as experienced front-line personnel, CEOs, and marketing executives, while secondary research included a review of the leading manufacturers' annual and financial reports. Secondary sources are utilized to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary sources. The biggest players in the Cellular Vehicle-to-Everything market are as follows:
- Autotalks Ltd.
- Commsignia Ltd.
- Robert Bosch GmbH
- Continental AG
- Intel Corporation
- Genvict, Huawei
- Infineon
- Huawei Technologies co. Ltd.
- Reliance Jio Infocomm Limited
- NTT Docomo
- Ficosa International SA
- Quectel Wireless
- Savari
- Quectel wireless co. Ltd.
- Keysight Technologies
Regional Analysis:
Individual market influencing components and changes in market regulations that effect present and future market trends are also mentioned in the regional overview of the Cellular Vehicle-to-Everything market analysis. Current and future trends are examined in order to assess overall market potential and uncover profitable trends in order to achieve a more stable footing. The geographical market assessment is based on the present environment and expected trends.
Key Questions Answered in the Cellular Vehicle-to-Everything Market Report are:
- In 2021, which segment held the largest share of the Cellular Vehicle-to-Everything market?
- What is the Cellular Vehicle-to-Everything market's competitive landscape?
- What are the key drivers assisting Cellular Vehicle-to-Everything market growth?
- Which region controls most of the Cellular Vehicle-to-Everything market?
- What will be the Cellular Vehicle-to-Everything market's CAGR during the forecast period (2021-2029)?
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The global vehicle-to-infrastructure (V2I) communication market is segmented by end user and component.
Based on end user, the cellular segment is anticipated to hold the largest market share over the forecast period i.e., 2022 – 2030, owing to the effectiveness of cellular applications in managing large number of messages in high traffic environment and high performance in terms of cybersecurity.
Moreover, on the basis of component, the hardware segment is projected to grab the largest market share ascribing to the rising requirement for advanced road markings and smart signs.The market is anticipated to reach a significant CAGR during the forecast period on the back of rise in number of vehicle thefts, and increasing number of technological advancements in the automobile industry.
Apart from these, growing use of IoT, chips and sensors, and government focus to manage traffic effectively are also estimated to drive market growth in the coming years.Geographically, the vehicle-to-infrastructure (V2I) communication market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.
Europe region is anticipated to witness the highest growth during the forecast period attributing to the surging number of smart automotive projects undertaken by the government and strong presence of market players in the region.Download Sample of This Strategic Report: https://www.researchnester.com/sample-request-3189Growing Number of Vehicle Thefts to Drive Market GrowthAs the number of car thefts are increasing since the last few years, the demand for the safety of automobiles is also rising at a rapid pace.
This has resulted in automotive companies to develop innovative technologies such as vehicle-to-infrastructure communication that focus on improving vehicle safety.
