According to a new report, published by KBV research, The Global Automotive Vehicle-to-Everything Market size is expected to reach $26.67 billion by 2031, rising at a market growth of 42.6% CAGR during the forecast period.
The Onboard Unit segment is leading the Global Automotive Vehicle-to-Everything Market by Device in 2023; thereby, achieving a market value of $16.37 billion by 2031. One of the primary factors behind the dominance of onboard units (OBUs) in revenue generation is the rising integration of V2X technology in passenger and commercial vehicles. Leading automotive manufacturers are equipping new vehicle models with embedded OBUs to enhance road safety, optimize traffic flow, and improve driving efficiency.
The DSRC segment captures a CAGR of 42.8% during (2024 - 2031). The dedicated Short-Range Communication (DSRC) segment is primarily driven by regulatory support, proven reliability, and widespread infrastructure adoption in the automotive industry. Governments in regions like North America, Europe, and Japan have actively promoted DSRC as the preferred V2X communication standard due to its low latency, secure and interference-free operation on the dedicated 5.9 GHz spectrum. The established ecosystem of DSRC-compatible vehicles, roadside units (RSUs), and intelligent traffic management systems has further fueled its dominance.
The Passenger Cars segment is generating the highest revenue in the Global Automotive Vehicle-to-Everything Market by Vehicle in 2023; thereby, achieving a market value of $17.64 billion by 2031. Consumers are increasingly seeking smart mobility solutions that offer real-time traffic updates, collision avoidance, and enhanced driving efficiency, prompting automakers to integrate V2X communication modules in new models. Additionally, the growth of electric vehicles (EVs) and the expansion of 5G-enabled Cellular-V2X (C-V2X) technology are further accelerating V2X adoption in passenger cars, enabling seamless vehicle-to-infrastructure (V2I) and vehicle-to-network (V2N) communication.
The Vehicle-to-Pedestrian (V2P) segment is registering a CAGR of 43.2% during (2024 - 2031). With cities becoming more crowded, real-time interaction between vehicles and pedestrians is essential to prevent collisions, particularly at crosswalks, school zones, and high-traffic areas. The integration of AI-based pedestrian detection, mobile applications, wearable technology, and smart road infrastructure is helping improve V2P communication. Additionally, adopting connected mobility solutions and expanding smart city projects further drive investments in V2P-enabled crosswalks, real-time pedestrian alerts, and intelligent traffic systems.
Full Report: https://www.kbvresearch.com/automotive-vehicle-to-everything-market/
The Asia Pacific region dominated the Global Automotive Vehicle-to-Everything Market by Region in 2023; thereby, achieving a market value of $9.12 billion by 2031. The Europe region is expected to witness a CAGR of 42.1% during (2024 - 2031). Additionally, The North America region would register a CAGR of 42.3% during (2024 - 2031).
By Device
By Connectivity
By Vehicle
By Communication
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