Research reveals the market will grow at a CAGR of over 33% from 2019 to 2025.

The market is projected to surpass $5 billion by 2025.

Factors boosting the growth will be connectivity, convenience, safety features in vehicles, and growing demand for hybrid and electric vehicles.

The market is boosted by international pressure on energy diversification.

Growth will be driven by the increased need to improve the performance of transportation networks, focus on road safety, and environmental and sustainability awareness.

Factors affecting market growth will include large-scale availability of batteries in various sizes and specifications, high current level, and development of low-cost electric vehicles.

Increasing government initiatives for mandating driver assistance systems to lower road accidents, along with increasing adoption of the systems in small cars, will contribute to the expected 19% growth rate.

The growing demand for electrification in automobiles is due to the shift of social influence and acceptability toward electrification via lowered usage of petroleum through energy-efficient vehicles and regulatory efforts to strengthen CO2 emissions standards.

Corporate funding has increased more than 44% from 2013 to 2016.

The global automotive vehicle-to-everything (V2X) market is expected to grow at a CAGR of over 25.4% from 2016 to 2024, reaching $26.72 billion by 2025, according to a new report by Grand View Research, Inc.