Automotive Cellular V2X (C-V2X) Modules Market Size, Share, Growth, And Industry Analysis, By Type (4G and 5G), By Application (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Device (V2D), Vehicle-to-Grid (V2G) and Others), and Regional Forecast To 2031

Updated On: 22 April 2024

Automotive Cellular V2X (C-V2X) Modules Market Report Overview

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The global automotive cellular V2X (C-V2X) modules market size was USD 474.9 million in 2021, & the market is expected to reach USD 34654 million in 2031, exhibiting a CAGR of 54.0% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with the automotive cellular V2X (C-V2X) modules market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels.

Automotive cellular V2X (C-V2X) modules are communication devices that let vehicles converse with one another as well as with other objects, such as pedestrians, cyclists, and infrastructure, over cellular networks. Interaction between vehicles and their surroundings, such as the road network, traffic lights, and other equipment on the side of the road, is made possible by C-V2X modules, which use the cellular network. The transmission of data and information is made possible through this communication, and it can enhance driving convenience, road safety, and traffic flow.

Due to the rising demand for linked vehicles and advanced driver assistance systems (ADAS), the automotive cellular V2X (C-V2X) modules industry is expanding. Vehicles can communicate with each other, with pedestrians, and with the road infrastructure thanks to the C-V2X technology, enhancing traffic flow, road safety, and the overall driving experience. The demand for real-time data and information transmission as well as the growing use of autonomous vehicles are other factors propelling the market for C-V2X modules. Government programmers and rules that are meant to increase road safety are also helping this sector expand.

COVID-19 Impact: Demand for the Modules Increased as the Importance of Technology Enabling Data Exchange Grew

The automotive cellular V2X (C-V2X) modules industry has benefited from the COVID-19 epidemic in numerous ways. First off, the pandemic enhanced awareness of and demand for C-V2X modules by highlighting the significance of technologies that permit distant connection and data exchange. The use of linked and autonomous vehicles was further spurred by the pandemic as individuals sought out safer and more effective forms of mobility. Last but not least, the pandemic prompted a greater emphasis on traffic safety and the creation of technology that may enhance it, such as C-V2X modules, which contributed to the expansion of this sector.

Latest Trends

"To Improve Traffic Efficiency and Road Safety a Partnership was Established"

The public disclosure of Qualcomm's partnership with NIO, a Chinese electric vehicle maker, to incorporate C-V2X technology into NIO's vehicles was one of the major pieces of news in the market for automotive cellular V2X (C-V2X) modules. By enabling C-V2X communication between NIO vehicles and other automobiles, infrastructure, and pedestrians, the collaboration intends to increase traffic efficiency and road safety. To make it possible for NIO's vehicles to handle C-V2X communication, Qualcomm will offer its C-V2X solutions, including its Qualcomm 9150 C-V2X chipset.

Automotive Cellular V2X (C-V2X) Modules Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into 4G, and 5G

• By Application Analysis

Based on application, the market can be divided into Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Device (V2D), Vehicle-to-Grid (V2G), and Others 

Driving Factors

"Growing Adoption of Connected and Driverless Vehicles is Significantly Fueling the Modules Market's Growth"

A significant growth driver for the market for automotive cellular V2X (C-V2X) modules is the increasing use of connected and driverless automobiles. As vehicles become more interconnected, there is an increasing need for trustworthy and low-latency communication systems to allow the interchange of data between vehicles and the environment. Advanced driver assistance systems (ADAS) and autonomous driving are only possible with the use of the C-V2X technology, which offers a secure and dependable method of communication that allows vehicles to share data with one another and the cloud.

"Regulations and Policies Set Forth by the Government Encourage the Use of Autonomous Vehicles"

The adoption of connected and autonomous vehicles is being supported by various regulations and policies that have been implemented by governments throughout the world as they focus more and more on enhancing road safety and cutting emissions. For instance, the National Highway Traffic Safety Administration (NHTSA) in the US has ordered that by the year 2023, all new cars must be fitted with vehicle-to-vehicle (V2V) communication systems. Similar to the United States, the European Union has passed legislation mandating that by 2022, C-V2X technology will be standard on all new automobiles. As manufacturers and suppliers work to meet these rules, it is anticipated that C-V2X modules will become more popular in the automobile sector.

Restraining Factors

"Significant Obstacle to the Growth of the Cellular Industry is the Absence of Standardization"

Lack of standardization and interoperability is a significant barrier to the automotive cellular V2X (C-V2X) modules market growth. Even though there are numerous standards and specifications for C-V2X technology, manufacturers and suppliers cannot agree on the most effective method for putting C-V2X systems into place. Due to this, there is now competition in the market, which might be confusing for consumers and prevent the uptake of C-V2X technology. Additionally, it may be challenging for suppliers and car manufacturers to create and implement C-V2X systems at scale due to the lack of standardization and compatibility. This is due to the fact that C-V2X systems necessitate cooperation and coordination among numerous stakeholders, including automakers, infrastructure providers, and mobile network operators, to ensure that the systems function harmoniously as a whole.

Automotive Cellular V2X (C-V2X) Modules Market Regional Insights

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"Regional Market Growth is Driven by the Development of Smart Cities and Focus on Improving Road Safety"

The market for C-V2X modules has been dominated in recent years by the Asia Pacific region, and this trend is anticipated to continue. A number of factors, such as the expanding use of connected and autonomous vehicles, the development of smart cities, and the emphasis on enhancing traffic efficiency and road safety, are driving the expansion of the automotive cellular V2X (C-V2X) modules market share in the region. Considering that China is both the world's largest automotive market and the largest market for C-V2X modules in the area, it is a top target for producers and suppliers.

Key Industry Players

"Key Players Focus on Geographical Expansions and Alliances to Expand their Market Share and Revenue"

Automotive cellular module manufacturers are employing a variety of strategies to gain market dominance. They are concentrating on creating cutting-edge and reasonably priced C-V2X modules that satisfy the changing demands of clients and the market. In order to form alliances and encourage the adoption of C-V2X technology, they are also working with automakers, mobile network carriers, and infrastructure suppliers. They are also enlarging their geographic reach by establishing manufacturing facilities in important areas such as the Asia Pacific and investing in research and development. These tactics are intended to help companies strengthen their positions in the modules market while also growing their market share and revenue.

List of Market Players Profiled

• Huawei (China)
• Qualcomm (U.S.)
• Ficosa (Spain)
• Quectel Wireless (China)
• Fibocom (China)
• Autotalks (U.S.)
• Bosch (Germany)
• Unex (Czech Republic)

Report Coverage

This report covers the automotive cellular V2X (C-V2X) modules market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.