The Vehicle-to-Infrastructure (V2I) segment is expected to grow at an impressive CAGR of over 10% in the Cellular Vehicle-to-Everything Market during the forecast timeline due to the growing emphasis on developing smart city projects around the world.
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Cellular Vehicle-to-Everything market is projected to exceed USD 800 million by 2025 due to the increase in demand for safe & reliable road transportation, the rising adoption of autonomous vehicles, and increase in the adoption of vehicle telematics by logistics & transportation companies. The smart city initiatives in developing countries are helping to improve the roadside infrastructure with the help of IoT technology. The improved roadside infrastructure is helping in improving the transportation system in smart cities with the help of C-V2X communication technology.
The advancements in cellular networks for the commercialization of 5G networks are supporting the cellular vehicle-to-everything market growth. The enhanced bandwidth capabilities of 5G enable autonomous vehicles to be fully connected at all times with each other, roadside infrastructure, and pedestrians. The low latency of 5G technology helps in the fast response in autonomous driving, which will help in avoiding accidents that happen due to sudden lane changes. The low latency and high bandwidth of 5G network provide V2X technology benefits such as enhanced reliability over extended communication range, better non-line-of-sight performance, and great resilience for interference arising from other devices. The development of 5G technology supports a wide range of use cases such as enhanced Mobile Broadband (eMBB) and mission-critical applications.
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The V2I communication segment is expected to grow at a CAGR of over 12% over the forecast period due to the increase in the adoption of smart traffic infrastructure. The smart traffic infrastructure involves smart traffic signals and smart surveillance cameras, which communicate with vehicles to provide information about traffic & road conditions. The V2I communication helps in reducing the traffic congestion in cities by providing alerts to connected vehicles regarding traffic congestion and suggesting alternate routes toward the expected destination. Many government authorities are focusing on the development of the infrastructure for connected vehicles with active deployment projects.
National Highway Traffic Safety Administration (NHTSA), the U.S. transportation agency, had proposed a V2V regulatory mandate in 2016 that requires Dedicated Short-Range Communications (DSRC) technology to be installed in vehicles. However, NHTSA did not act on the proposal which left the door open for cellular vehicle-to-everything market to secure a foothold in the industry. Ford, world’s leading automobile manufacturer, showed consistent support for the technological solutions and announced that it will be introducing V2X communications beginning from the year 2022.
C-V2X has garnered significant attention from almost every mobile operator, eminent equipment makers as well as automakers like BMW, Ford, Tesla, Toyota etc. These players have teamed up with tech companies to implement C-V2X trials for commercial deployment. Apparently, China is on its way to become one of the first countries to have C-V2X deployed, as the nation boasts of several auto firms and communication giants, along with few European countries which are likely follow soon.
Growing installation of fast communication networks such as LTE and 5G will enormously contribute towards the growth of cellular vehicle-to-everything market size. Harman International, subsidiary of Samsung Electronics, has developed Dual-Mode V2X which will help automakers to use over-the-air command and select the standard they want to be implemented on each vehicle, either 5G or DSRC. The Dual-Mode V2X system of Harman features both software and hardware which can operate either with telematics control units or standalone unit for vehicles.
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Advanced driver assistance systems (ADAS) will witness higher demand owing to their increasing utilization in vehicles that have V2X solutions. The improved features offered by V2X systems along with the availability of DSRC like adaptive cruise control, traffic sign recognition and blind spot warnings will expand the scope of cellular vehicle-to-everything market substantially. Industry potential can be understood from the fact that over 70 million passenger cars had been manufactured in 2018.
Asia Pacific is expected to grow at the fastest rate over the forecast period due to the increase in government support for large-scale digitalization of urban infrastructure in countries including China, South Korea, and India. The major automobile manufacturers in the region are planning for the deployment of C-2VX technology in their vehicles.
The major chipset manufacturers are conducting C-V2X trials in collaboration with automotive manufacturers and other connected vehicles solution providers. For instance, in December 2018, Qualcomm, a leading chipset manufacturer, partnered with Continental, Ericsson, NTT DOCOMO, Nissan, and OKI for C-V2X trials in Japan.
Glimpse of Table of Content (ToC)
Chapter 4. Competitive Landscape
4.1. Introduction
4.2. Competive analysis of major C-V2X players, 2018
4.2.1. Huawei Technologies Co. Ltd.
4.2.2. Infineon Technologies AG
4.2.3. Intel Corporation
4.2.4. Qualcomm Inc.
4.2.5. Robert Bosch GmbH
4.3. Competive analysis of key innovators, 2018
4.3.1. Autotalks Ltd.
4.3.2. Quectel Wireless Solutions Co., Ltd.
4.3.3. Savari, Inc.
Chapter 5. Cellular Vehicle-To-Everything Market, By Communication Type
5.1. Key trends, by communication type
5.2. Vehicle-to-Network (V2N)
5.2.1. Market estimates and forecast, 2018 – 2025
5.3. Vehicle-to-Infrastructure (V2I)
5.3.1. Market estimates and forecast, 2018 – 2025
5.4. Vehicle-to-Infrastructure (V2I)
5.4.1. Market estimates and forecast, 2018 – 2025
5.5. Vehicle-to-Person (V2P)
5.5.1. Market estimates and forecast, 2018 – 2025
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