Cellular V2X Components Market to Grow Rapidly

Driving authorities around the world are encouraging — or mandating — the deployment and use of vehicle-to-everything (V2X) for safety and traffic management, according to a new report from Tractica, the company said.

The arrival of 5G brings enhanced capabilities for C-V2X using the dedicated spectrum set aside for intelligent transportation applications and network-based automotive applications of many kinds.

However, vehicle connectivity is an extremely complicated topic. The number of standards bodies, industry associations, and technology vendors is very large. There are also many vested interests — political as well as commercial — and a long legacy of trial after trial, with little mass-market adoption. Still, Tractica expects the market for in-vehicle V2X components to grow rapidly from 2019 as automotive OEMs begin to build C-V2X and 802.11p connectivity into new vehicles, peaking at USD 39.2 billion in 2023 and remaining above USD 35 billion annually from that point until 2030.

Tractica, an Informa business, is a market intelligence firm that focuses on emerging technologies. Tractica´s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Advanced Computing and Connected & Autonomous Vehicles. For more information, visit www.tractica.com.