Cellular Vehicle-To-Everything (C-V2X) Market by Trends, Opportunities And Industry Forecast To 2030

Cellular Vehicle-To-Everything (C-V2X) Market To Hit USD 6 Bn By 2030. Driven by increasing research and development efforts towards optimizing autonomous vehicles, the demand for cellular vehicle-to-everything systems are witnessing an elevated demand. Increasing instances of, often fatal, road accidents is making the case for the integration of C-V2X technology in vehicles. 

As per the WHO, annually approximately 1.3 million fatalities are recorded from road crashes, with non-fatal accidents also being far too common. Driving habits like rash driving, over speeding, alcohol consumption, and inability to understand traffic rules and road safety norms are largely to blame. To curb these habits, many world governments are prioritizing the shift to smart mobility and technological aides.

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The lack of proper technological infrastructure may hamper the cellular vehicle-to-everything (C-V2X) market growth in many countries. However, key market players are putting significant efforts into bringing multifunctional and robust technologies to get a holistic viewpoint about traffic.

Below are some key initiatives that will drive cellular vehicle-to-Everything (C-V2X) market revenues by 2030:

  1. Increasing advancements in communication technologies to pave the way

Advancements in IoT, data, and analytics have helped the development of connected sensors that improve the driving experience and provide real-time information about oncoming vehicles. Such technological advancements present new pathways to cellular vehicle-to-everything (C-V2X) market.

The advent of 5G cellular network technology, with its considerably higher connection density is expected to make industry conditions further conducive for the market landscape. It will help establish structured a communication system for better transportation. Such technologies ensure connectivity to warn motorists, cyclists, and pedestrians about any unforeseen event like an accident. It will help strengthen the transport system with vast database optimization facilitating better traffic junctions.

Furthermore, road safety campaigns by the government to maximize vehicle safety, and the construction of smart highways with improved networks are expected to foster market growth.

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  1. Increasing industry player collaborations

Collaborations among leading industry players are expected to fuel industry fortunes in a prominent manner. Recently, fabless semiconductor firm, Autotalks and leading Connected Autonomous Vehicle software company, Cohda Wireless, inked a collaboration agreement to develop and launch the first wholly integrated V2X SoC in the world, which is to be implemented in Autotalks’ third-generation chipset, TEKTON3.

Cohda Wireless was also appointed as the software stack supplier due to its leadership in the field. The collaboration will help OEMs and Tier1s to integrate V2X solutions for road users much quicker and with reduced testing expenditures.

Additionally, as an added advantage, TEKTON3’s software incorporation can help maintain power efficiency while also processing all road users in proximity. The technology will emerge as a simple ‘plug-and-play' option with the collaboration of Autotalks’ high-end chipset and Cohda’s superior software. It will present a connective and automated transport network for robust road traffic management.

Meanwhile, Europe-based software firm, Commsignia, also announced a new collaboration with autonomous vehicle company, Perone Robotics, to deliver V2X communication systems for smart urban mobility applications.

Perrone Robotics has leveraged its AV kit with Commsignia’s OB4 V2X On-Board Unit to facilitate its traffic light detection system and provide autonomous driving experiences. Perone’s V2X-enabled kit can also be used on passenger and cargo vehicles.

  1. New product launches to further strengthen the market landscape

Key market players are focusing on strategic partnerships to bring innovative products and sustain their industry leadership. They emphasize introducing advanced technologies to succeed in the competitive landscape. In this regard, Qualcomm recently unveiled the 9150 C-V2X to help people commute seamlessly.

Its C-V2X solution includes vehicle-to-infrastructure, vehicle-to-vehicle, vehicle-to-pedestrian, and vehicle-to-cloud communication. The V2V system has latency-sensitive collision avoidance capabilities for better movement and reduced congestion. The technology is designed to serve a broad segment of the cellular vehicle-to-everything (C-V2X) market.

The emphasis by the government on emergency vehicles’ safety will also help the market players launch innovative technologies in the cellular vehicle-to-everything (C-V2X) industry.

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