Global Automotive V2X Market is Set to Attain $8,060.79 Million by 2027

0
132

V2X or Automotive vehicle to everything is one of the most-embraced technology in today’s world. It improves road safety with the aid of cutting-edge high-tech developments in automotive electronics. The concept of V2X is based primarily on an intelligent transport system (ITS) and supports the automotive leaders in organizing efficient traffic management.

V2X lets a vehicle communicate with the nearby automobiles, or any impediments such as a building, a pedestrian, or a vehicle that’s out of sight. The internal combustion engine (ICE) is expected to witness massive growth by 2027, as it openly assists in the progress of the fuel economy, and thereby reduce pollution. Transportation pollution has been a significant issue faced globally. The optimization of traffic with the help of V2X technology will reduce fuel consumption.

As a result of its numerous benefits, a large number of ICE vehicles are now equipped with V2X, and more vehicles will soon be launched, driving the ICE V2X market. When geography is considered, the North American region is forecasted to have considerable market growth from 2020 to 2027. It’s because of the high sales of V2X equipped vehicles, such as Mercedes-Benz E-Class, and Cadillac CTS in this specific region.

The technologically well-versed countries like the United States and Canada enable ease of such adoption. Besides, the road safety organizations in this geographical location have involved in certain activities to upsurge the modernization of the automotive V2X landscape.

You can access the complete report in the following link: https://www.strategymrc.com/report/automotive-v2x-market.

This research report covers some of the automotive technologies such as Fleet & Asset Management, Parking Management System, Line of Sight, Intelligent Traffic System (ITS), Automated Driver Assistance, Predictive Maintenance, Passenger Information System, Remote Monitoring and Diagnostics, Emergency Vehicle Notification, Non-Line of Sight, Commuter Data System, Auto Car Service, Backing, Analytical Continuation, and Road Safety Service.

With the detailed segmentation, this report assesses the market share based on various regions, countries, top industry players, and recent trends, including Constraints, Investment Opportunities, Threats, and Challenges.  It has a market forecast for nine years of several regions, and segments listed above. Get the full report to analyze the scope of the global automotive V2X market.