Cellular Vehicle-to-Everything (C-V2X) Market Size, Share, Growth & Forecast 2032

Cellular Vehicle-to-Everything (C-V2X) Market Insights

According to the report published by Zion Market Research, the global Cellular Vehicle-to-Everything (C-V2X) Market size was valued at USD 886.39 Million in 2023 and is predicted to reach USD 10917.33 Million by the end of 2032. The market is expected to grow with a CAGR of 32.18% during the forecast period. The report analyzes the global Cellular Vehicle-to-Everything (C-V2X) Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Cellular Vehicle-to-Everything (C-V2X) industry.

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Global Cellular Vehicle-to-Everything (C-V2X) Market: Overview

Cellular vehicle-to-everything (C-V2X) is a network system that combines the features of vehicle-to-vehicle (V2V), vehicle-to-grid (V2G), vehicle-to-pedestrian (V2P), vehicle-to-network (V2N), and vehicle-to-infrastructure (V2I). The cellular vehicle-to-everything (C-V2X) is developed on 3GPP-based vehicle-to-grid technology that utilizes LTE technology in the vehicle-to-grid system. Several automobile manufacturers use C-V2X connecting technology to enable the vehicle to vehicle communications. The cellular vehicle-to-everything technology is made to connect cloud-based services, different vehicles with each other, roadside infrastructure, and pedestrians. The C-V2X is a great solution to enable real-time and reliable communications to assist in various services like pay-as-you-drive insurance, vehicle diagnostics, connected infotainment, and safety features. Sensors and communications systems in C-V2X help in improving autonomous driving in vehicles.

Global Cellular Vehicle-to-Everything (C-V2X) Market: Growth Factors

The growing initiatives of the governments in making smart cities are driving the growth of the global cellular vehicle-to-everything (C-V2X) market. The surging number of road accidents across the world has created the demand for intelligent vehicle system to reduce road fatalities is boosting the growth of the global cellular vehicle-to-everything (C-V2X) market. The integration of C-V2X technology in automobiles to make road transport safer is attracting customers and thus fueling the demand for technology. The technology possesses features like providing real-time information regarding weather conditions, road accidents, connected vehicles, and many more. The increasing research and development activities in the C-V2X technology to develop innovative and more advanced features are fueling the growth of the global cellular vehicle-to-everything (C-V2X) market. Increased penetration of smartphones and the integration of smartphone in-vehicle technology are also bolstering the market growth globally.

Several other features like precise positioning assist the cars to communicate efficiently, facilitate the correct position, and low latency vehicle-to-everything (V2X) communications for secure and safe communications also boost the market growth.

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Global Cellular Vehicle-to-Everything (C-V2X) Market: Segmentation

The global cellular vehicle-to-everything (C-V2X) market can be segmented into the unit, vehicle, technology, connectivity, propulsion, communications, offering, and region.

By unit, the market can be segmented into roadside and onboard units.

By vehicle, the market can be segmented into commercial vehicles and passenger cars.

By technology, the market can be segmented into the backing, fleet & asset management, non-line of sight, line of sight, parking management system, passenger information system, emergency vehicle notification, intelligent traffic systems, and automated driver assistance.

By connectivity, the market can be segmented into DSRC and cellular. The cellular segment holds hegemony over other owing to advancements in technology to offer enhanced performance in cybersecurity and the capability to handle huge messages in congested traffic zones.

By propulsion, the market can be segmented into EV and ICE.

By communication, the market can be segmented into the vehicle-to-device (V2D), vehicle-to-cloud (V2C), vehicle-to-grid (V2G), vehicle-to-pedestrian (V2P), vehicle-to-infrastructure (V2I), and vehicle-to-vehicle (V2V). The vehicle-to-vehicle (V2V) segment accounts for the largest share in the global cellular vehicle-to-everything (C-V2X) market owing to the advanced vehicle safety features like lane changing warning (LCW) and forward collision warning (FCW). The increasing safety concerns in the public and government rules to reduce road accidents are driving the growth of the segment.

By offering, the market can be segmented into software and hardware.

Cellular Vehicle-to-Everything (C-V2X) Market: Report Scope

Global Cellular Vehicle-to-Everything (C-V2X) Market: Regional Analysis

North America accounts for the largest share in the global cellular vehicle-to-everything (C-V2X) market due to the growing adoption of advanced driver assist systems (ADAS) and growing disposable income of the people. The technological advancements in the region are also boosting the growth of the regional market.

Asia Pacific is expected to witness huge growth due to high CAGR during the forecast period due to the presence of prominent players in the market. Several new entrants are emerging in the market due to the lucrative growth opportunity in the region.

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Global Cellular Vehicle-to-Everything (C-V2X) Market: Competitive Players

Some of the significant players in the global cellular vehicle-to-everything (C-V2X) market are:

• Savari, Inc
• Rohde & Schwarz
• Robert Bosch GmbH
• Quectel Wireless Solutions Co., Ltd.
• Qualcomm Technologies Inc.
• NTT Docomo, Inc.
• Nokia Corporation
• Keysight Technologies
• Intel Corporation
• Infineon Technologies AG
• Huawei Technologies Co., Ltd.
• GENVICT
• Ficosa Internacional SA
• Continental AG
• Commsignia Ltd.
• Autotalks Ltd.
• AT&T Inc.

Global Global Cellular Vehicle-to-Everything (C-V2X) Market Segmentation Analysis

By Unit

• roadside
• onboard units

By Vehicle

• commercial vehicle
• passenger cars

By Technology

• backing
• fleet & asset management
• non-line of sight
• line of sight
• parking management system
• passenger information system
• emergency vehicle notification
• intelligent traffic systems
• automated driver assistance

By Connectivity

• DSRC
• cellular

Global Cellular Vehicle-to-Everything (C-V2X) Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

What Reports Provide

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, ongoing, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.