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  1. The Vehicle-to-Everything (V2X) Communication System Market is estimated to be USD 689 million in 2020 and projected to reach USD 12,859 million by 2028, at a CAGR of 44.2%. The advancements in 5G technology and an increase in fuel consumption and time wastage caused by traffic congestion have pushed the V2X technology forward. The V2V communication segment is expected to have the largest share of the automotive V2X market. V2V improves vehicle safety through features such as forward collision warning (FCW) and lane changing warning (LCW). The growing safety concerns among the public and government due to increasing traffic accidents is an important driving factor for the growth of the automotive V2V market.

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