Vehicle-to-everything (V2X) Market Demands and Growth Prediction 2017 to 2022

Worldwide Market Reports added Latest Research Report titled “Vehicle-to-everything (V2X) Market Demands and Growth Prediction 2017 to 2022

Vehicle-to-everything (V2X) is a form of technology that allows vehicles to communicate with moving parts of the traffic system around them. Other similar systems such as vehicle to vehicle (V2V), allows vehicles to communicate with other vehicles and vehicle to infrastructure (V2I), allows vehicles to communicate with external systems such as streetlights, buildings, and cyclists or pedestrians.

V2X technology makes use of a short-range wireless signal, which enables communicate with other compatible systems. This signal is resistant to any external interference such as extreme weather conditions.

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The V2X market is a nascent market, as very few traffic systems in some countries currently are integrated with V2X systems.

Increasing number of road accidents caused by human error in turn, is expected to boost demand for vehicle to everything technology. According to WHO, each year over 1.2 million people die in traffic accidents worldwide. As, V2X technology enables the driver to see the invisible, viewing the obstacles ahead on the road before time. This in turn, helps increase road safety, in turn, limiting deaths caused by accidents. This in turn, is expected to boost growth of the vehicle-to-everything market.

V2X technology also helps optimize traffic flow and reduce traffic congestion as it signals which is the fastest and convenient possible route, in turn, saving time of drivers and pedestrians. This also poses as a major factor driving growth of the vehicle-to-everything market.

However, the system is used by everyone and thus can be easily exploited by pranksters, or other anti-social elements, which is a major factor responsible for limiting growth of the vehicle-to-everything market.

Key Developments

 

V2X technology is expected to witness significant growth in the near future, due to rapid development of the system by major V2X suppliers. For instance, Delphi, Denso, and Continental announced their V2X integration plans in 2018. Newly launched car models are being integrated with some form of V2X technology, particularly the more expensive or luxury brands. However, V2X is expected to eventually be added to lower-priced vehicles as well.

BMW Group fully supports the European Commission´s hybrid communication strategy of a cellular backend-based communication and short-range communication (C-V2X). The company announced launch of its C-ITS to enhance traffic safety, reduce accidents, and provide added value information to drivers.

Audi, BMW, and Daimler announced partnership with techn firms such as Ericsson, Huawei, Intel, Nokia, and Qualcomm, to form 5G Automotive Association, and develop, test, and standardize fifth generation high-speed wireless communication.

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