V2X in the Connected Car of the Future

V2X: Connecting to the Environment

Vehicle-to-everything (V2X) is a communication technology that allows a vehicle to communicate with other vehicles, road users, and infrastructure. The major purpose of V2X technology is to improve road safety, energy savings, and traffic efficiency on roads. The key components of V2X include vehicle-to-vehicle (V2V) & vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), vehicle-to-grid (V2G), vehicle-to-cloud (V2C), and vehicle-to-device (V2D) communication systems. The automotive industry is evolving in the front of technology, enabling cars to interact with infrastructure such as traffic signals, pedestrian’s communication devices, other digital devices. These advancements in technology have challenged automotive makers to incorporate automotive V2X solutions that will offer enhanced safety, utility, and convenience to their customers

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The factors such as rise in adoption of connected cars and rapid increase in urbanization & industrialization are expected to drive the market growth. However, high cost of implementation and security concerns related to data communication hinder the automotive V2X market growth. On the contrary, future potential of 5G & AI technology coupled with the advancements in cellular-V2X (C-V2X) technology and developments in semi-autonomous & autonomous vehicles are expected to offer lucrative opportunities for the automotive V2X market growth during the forecast period.

V2X Communication:

People Interacting with Vehicles:

Connected vehicles enable cars to communicate via V2X platform with drivers, other vehicles, road infrastructure, and the cloud. These services allow automotive dealers, fleet operators, and drivers to optimize resource usage, improve safety, and automate certain driver functions, while generating valuable data, including vehicle performance and road conditions. Connected vehicles work by collecting information from their surroundings and communicating it to each other, as well as connect to the intelligent transportation infrastructure and provide transport authorities with real-time traffic data for better road management and improved infrastructure planning. Thus, the demand for connected car services has been witnessed to increase majorly attributed to rise in need for basic vehicle connectivity applications, such as real-time updates, navigation, and in-car infotainments. Moreover, surge in demand for connectivity solutions, rise in demand for an enhanced driving experience, and introduction of Internet of Things (IoT) in the automotive industry are the other key factors that contribute toward the adoption of the connected cars. Therefore, increase in V2X-based services provided in connected cars drives the growth of the automotive V2X market. For instance, in January 2017, Altran, a global design and engineering company, unveiled Strata V2X connectivity framework at the International Consumer Electronics Show (CES) in Las Vegas. This V2X connectivity framework is designed to enhance the vehicle experience in the areas of driver assistance, fuel & energy management, passenger road safety, and traffic management.

COVID-19 impact analysis

The global impacts of the COVID-19 are already starting to be felt, and will significantly affect the automotive V2X market in 2020. There are apprehensions of extension to the lockdown period that could further hamper the production activity across all sectors, including the automotive industry.  Thus, owing to the lockdown imposed, manufacturing units across the globe have halted their production, which is likely to affect the purchase of vehicles equipped with vehicle-to-everything (V2X) features. The COVID-19 crisis is creating uncertainty in the market, disruption of supply chain, decline in businesses, and increase in panic among customer segments. Governments of different regions have already announced total lockdown and temporarily shutdown of industries, which have affected the overall production and sales adversely. Therefore, the spread of the COVID-19 pandemic has negatively impacted the global automotive V2X market.  

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