Global V2X Market is projected to grow at a CAGR of 17.61% from 2017 to 2024, to reach a market size of USD 84.62 billion by 2024 from USD 27.19 billion in 2017. 
Vehicle to Everything (V2X) is a communication functionality that enables a vehicle to pass the required information to any entity that may affect the vehicle, and vice versa. V2X system may be further subdivided into Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Device (V2D) and Vehicle-to-Grid (V2G). This Communication is based on WLAN technology subsequently forming a Vehicular-ad-hoc zone as two V2X senders come within each other’s range. Hence it does not require any infrastructure for vehicles to communicate, which is key to assure safety in remote or little-developed areas. The demand for road safety, real-time traffic information and incident reporting have been rising globally. This has skyrocketed the prospects for V2X technology. The major driving forces behind the growth of the Global V2X Market are the increase in government funds for better traffic management, safety assurance, energy savings and the development of connected vehicles. On the other hand, lack of infrastructure, Government regulations and additional cost burden on consumers may hinder the growth of the Global V2X Market. Amongst all, Vehicle-to-Vehicle (V2V) communication is estimated to grow at the highest CAGR during the forecast period. In 2017, North America has been estimated to account for the largest share, by value and volume, of the Global V2X Market. However, the Asia Pacific market is projected to grow at the highest CAGR during the same period. The largest share of North America can be credited to factors such as a huge demand for automobiles because of better infrastructure and high income, favorable policies, and regulations by the government, and the need for a better and effective transportation system.
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