Vehicle-to-Everything (V2X) Automotive Market Expected to Surpass USD 110.9 Billion by 2034

In the ever-evolving landscape of the automotive industry, a significant development is unfolding: the growth and transformation of Vehicle-to-Everything (V2X) technologies. This burgeoning sector promises to revolutionise transportation, offering enhanced safety and efficiency in the mobility ecosystem.

In 2023, Qualcomm Technologies, Inc. made a strategic move by agreeing to acquire Autotalks, an Israeli company specialising in V2X communication technologies. This acquisition was aimed at bolstering Qualcomm's portfolio in this crucial area, positioning the company at the forefront of V2X innovation.

Meanwhile, Panasonic introduced Cirrus 2.0 at ITS America in 2024, an enhancement of their existing Cirrus platform designed for V2X management. This update underscores Panasonic's commitment to advancing V2X technologies and their role in improving road safety, traffic management, and vehicle communication efficiencies.

The Automotive V2X Market in North America is currently leading the pack, accounting for a market share of 42.6% in 2024. This dominance is attributed to advanced technological integration and the widespread adoption of connected vehicle technologies in the region. In fact, the market valuation for V2X technologies in North America reached USD 1.8 billion in 2024.

However, challenges such as high initial costs and cybersecurity risks exist in the V2X market. Yet, the integration of V2X systems with smart city infrastructures and the increasing utilisation of cutting-edge technologies such as artificial intelligence and machine learning further enhance its potential.

Key players in the global Automotive V2X Market include Denso Corporation, Aptiv, Infineon Technologies AG, Continental AG, Qualcomm Technologies, Inc., Autotalks Ltd., Cohda Wireless, Kapsch TrafficCom, Savari Inc., Lear Corporation, LG Electronics, Ford Motor Company, Robert Bosch GmbH, NXP Semiconductors, and Harman International.

Companies like Kapsch TrafficCom and Audi of America are currently leading the charge in V2X development in North America. They recently presented a comprehensive plan for V2X-based toll collection and transportation financing, demonstrating their commitment to shaping the future of mobility.

The continuous support from regulatory bodies and the escalating demand for safer and more efficient transportation solutions ensure a dynamic growth trajectory for the V2X market. As we move forward, it is clear that V2X technologies will play a pivotal role in reshaping the automotive industry and redefining the way we travel.

Vehicle-to-Everything (V2X) Automotive Market Expected to Surpass USD 110.9 Billion by 2034