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Cellular vehicle-to-everything market to witness substantial gains over 2019-2025, growing installation of fast communication networks to spur the industry growth

Author : Rahul Varpe | Published Date : 2019-08-06 

The growth of cellular vehicle-to-everything market is propelled by growing installation of fast communication networks such as LTE and 5G.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.


Advanced driver assistance systems are being considered as an inevitable inclusion in future vehicles, with number of road accidents on the rise despite improvements in infrastructure and road safety awareness programs. Cellular vehicle-to-everything market is poised to witness substantial revenues from collision avoidance application, to develop better V2V and vehicle to person (V2P) solutions. Reportedly, every year car accidents amount to nearly US$242 billion in economic costs across the U.S. Reducing the number of vehicle crashes is a priority among automakers and effective V2V solutions could help mitigate collision risks for drivers.


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Remarkable technological advancements in the field of transportation and auto manufacturing have provided cellular vehicle-to-everything market with a robust growth platform. C-V2X systems are specifically designed to connect vehicles with each other as well as the roadside infrastructure, pedestrians and communication networks. These are aimed at reducing the number of fatal road accidents, the prevalence of which has prompted several government initiatives. Numerous private and government sector efforts will encourage adoption of novel safety features, expanding C-V2X industry share.


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.


With the presence of many leading automotive companies and partnerships with global technology firms, Asia-Pacific C-V2X market can be expected to reign in enormous revenues over the coming years. In December 2018, a consortium comprised of automaker Nissan and companies like Qualcomm, Continental and Ericsson completed the first C-V2X testing in Japan using 5.8 GHz frequency for direct communication. Tests were conducted under various conditions and demonstrated the potential of not only V2V, but V2N and V2P communications.


Owing to remarkable achievements in deploying communication network equipment and integrating crucial V2V systems within vehicles, C-V2X market is slated to register a double digit growth from 2019 to 2025. Key players outlining the competitive dynamics of the Cellular Vehicle-to-Everything include Autotalks, Bosch, Continental, Nokia, Qualcomm, Intel and Savari.
 

About Global Market Insights


Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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