U+ Analysis: Automotive Vehicle-to-Everything (V2X) Market to Reach $2.25 billion in 2025
V2X is an essential technology for autonomous vehicles as they become a more regular part of the automotive industry
U+, a leading global product development company, today released its "Automotive Technology Innovation for 2022 and Beyond" report, which highlights tech trends in the automotive industry.
One of the key trends in the auto sector is the growth of Vehicle-to-Everything (V2X) technology, the essential technology for autonomous vehicles as they become a more regular part of the automotive industry. The global automotive V2X market grew from $517.31 million in 2020 to $619.42 million in 2021, and analysts expect the market to reach $2.25 billion in 2025.
The U+ report also highlights the growth and utilization of artificial intelligence (AI) applications, tech-driven vehicle insurance and voice-operated features, along with a list of some of the top companies leveraging these emerging technologies.
"As automotive technology trends continue to create new and exciting opportunities within the industry, tech-savvy companies are building and launching innovations that are changing the auto sector's landscape," said U+ Founder and Chief Executive Officer Jan Beránek. "These disruptive technologies will continue to grow and impact the automotive sector in 2022—some automakers and aftermarket players will need to analyze how these developments are impacting their vertical to remain competitive."
U+ has worked successfully with companies in the automotive industry, including Bridgestone and Volkswagen Group, to identify digital automotive trends and build customer-facing innovations with a human-centric approach. For example, U+ developed FleetMate, a comprehensive self-driving car fleet management system, for Škoda Auto, which is among the more than 90 ideas U+ has turned into reality with total valuation exceeding $1B.
According to a McKinsey report, connectivity services and AI features could expand automotive revenue pools by about 30%, adding up to $1.5 trillion in additional revenue potential in 2030, as this technology becomes part of every modern vehicle. With the total driver experience in mind, increased driver safety, autonomous driving, improved traffic management and predictive maintenance remain top priorities.
Click the link under the title to read the complete "Automotive Technology Innovation for 2022 and Beyond" report based on unifying auto tech trends, and learn which companies U+ has highlighted as the Top Automotive Innovators To Watch.
The U+ Top Automotive Innovators to Watch were selected after extensive market research, leveraging databases including CB Insights and Crunchbase. Factors including number of customers and amount and date of funds raised were also considered.
About U+
U+ is a leading global product development company, specializing in corporate research and development, the launch of corporate and startup innovations, and the transformation of Fortune 1000 companies' digital ideas into real products. During the past 12 years, U+ has successfully turned more than 90 ideas into reality with total valuation exceeding $1B in the fintech, energy, telco, e-health and automotive industries. U+ is a product development solution provider for Bridgestone, Volkswagen Group and other companies within the automotive sector. For more information, please visit https://u.plus/.
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