Automotive V2X Antenna Market Size, Share, Growth, And Industry Analysis, By Type (Vehicle-to-Vehicle (V2V), Vehicle-to-infrastructure (V2I), and Automotive V2X Antenna), By Application (Commercial Vehicles and Passenger Vehicles), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Automotive V2X Antenna Market Report Overview

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The global automotive V2X antenna market size was USD 22 million in 2022 and is projected to touch USD 464.5 million by 2031, at CAGR of 40.3% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with the automotive V2X antenna market experiencing lower-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.

A wireless antenna used in automobiles to communicate with infrastructure is a V2X antenna. This communication can be used to alert drivers to imminent hazards or traffic conditions, as well as to provide navigational assistance. Vehicle V2X antennas are important because they can improve road safety and efficiency. By allowing autos to connect with one another and with roadside infrastructure, these antennas can help reduce congestion, reduce accidents, and make driving more enjoyable and efficient.

There is a growing need for security and safety features in cars. The increase in connected vehicles on the road. Increasing demand for fully and partially autonomous vehicles. 5G network growth and the introduction of V2X services. Vehicle-to-vehicle (V2V) communication is required by law are the factors increasing the market expansion

COVID-19 Impact: Lockdowns Around the Globe Massively Affected the Global Market

COVID-19 is an international health crisis that has impacted almost every industry, and the long-term repercussions are projected to impact the growth of numerous end-use industries during the forecast period. This study broadens the framework to incorporate key COVID-19 considerations and suggested next actions. The report discusses COVID-19 in-depth, considering changes in consumer behavior and request, purchasing patterns, supply chain re-routing, the dynamics of modern market forces, and key government efforts.

Latest Trends

"Integrated V2X Networks to the Next-Gen Technology"

Implementing sophisticated transmission/reception techniques, already utilized in legacy cellular networks, can increase the performance of V2X and other systems that enable direct and ad hoc communication modes. Direct adoption of methodologies in ad hoc or partially managed networks, such as V2X, with rapidly changing topologies and varied applications and services, however, is not practical. Diversity is one of the most effective techniques for improving system performance in this scenario. A set of multi-antenna transmission/reception systems used to increase the quality and dependability of a wireless link is referred to as diversity. While transmitting diversity using space-time/frequency codes is already planned for inclusion in V2X, due to the many restrictions inherent in V2X communications, direct application of receive or closed-loop send diversity methodologies is challenging.

Automotive V2X Antenna Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Vehicle-to-Vehicle (V2V), Vehicle-to-infrastructure (V2I), and Automotive V2X Antenna.

• By Application Analysis

Based on application, the market can be divided into Commercial Vehicles and Passenger Vehicles.

Driving Factors

"Propelled Use of Connected Cars Anticipated to Boost the Market’s Nature"

The need for basic vehicle connectivity applications such as real-time updates, navigation, and in-car infotainment has driven the rising demand for connected car services. The V2X platform enables connected vehicles to communicate with drivers, other vehicles, road infrastructure, and the cloud. These technologies and services improve safety by automating certain driving activities and gathering important data such as vehicle performance and road conditions. As a result, the rise of the automotive V2X business has been propelled by an increase in V2X-based services given by connected autos.

"Rising Urbanization to Amplify Market Growth"

The V2X-based intelligent transportation system (ITS) has been developed in recent years. As a result, technology has increased road safety, traffic efficiency, and the driving experience. Developing smart cities with smart infrastructure facilities propels the total V2X market forward. Cellular technologies' continued research and commercialization have also played a significant role in industry expansion.

Restraining Factors

"High Installations Costs to Limit Market Growth"

A significant problem for V2X technology hampering the automotive V2X antenna market growth is developing a secure system that provides privacy, authenticity, and security for all sorts of V2X communication. Vehicle records contain encrypted sensitive information on the owners and cars. These records are linked to policy enforcement engines and access control policies. Because it is a new technology, the development of data communication security is still in its early stages.

Automotive V2X Antenna Market Regional Insights

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"North America Held the Largest Share Owing to The Early Adoption of the Technology"

Regarding revenue share, North America held the largest automotive V2X antenna market share. Because of the early adoption of V2X technology and stringent regulations imposed by government bodies such as the National Highway Traffic Safety Administration (NHTSA), the Department of Transportation (DOT), and the Environmental Protection Agency (EPA), the region is expected to maintain its dominance over the forecast period. Furthermore, the growing frequency of accidents caused by traffic congestion is a crucial element driving regional growth.

Key Industry Players

"Major Market Players to Focus on Investing in R&D to Sustain in the Market"

The automotive V2X antenna market competitors make coalitions and collaborate to get a competitive advantage. By collaborating with other companies, they intend to capitalize on complementary strengths and broaden their market reach. Companies also invest in R&D to bring new and innovative products to market. Furthermore, major corporations are exploring mergers and acquisitions to broaden their product lines and strengthen their market position.

List of Market Players Profiled

• Harada Industry (Japan)
• Yokowo (Japan)
• Hirschmann Car Communication (Switzerland)
• Ethertronics (Sweden)

Report Coverage

The report's devoted part presents a detailed study of the impact of COVID-19 and its succeeding variant outbreaks on demand, supply, price, vendor uptake, and recommendations for long-term outcomes. The updated study contains insights, analyses, projections, and predictions for the automotive V2X antenna market, considering the COVID-19 impact. The research profiles a report with extensive studies describing the firms in the market affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.