As wireless communications become increasingly capable and ubiquitous around the world, vehicles are joining the connected world. Connecting vehicles to each other, to other road users, and to the surrounding infrastructure will be increasingly important as other transportation technologies penetrate the market, especially vehicle automation and electrification. Vehicle-to-external communications (V2X) using dedicated short-range communications (DSRC) as well as 4G and 5G cellular data communications will expand rapidly in the next decade. The markets for connected and automated vehicles are driven by the desire to reduce societal costs while improving safety, reducing energy consumption, and decreasing traffic congestion. Connectivity is also a key technology enabler for plug-in electric vehicles (PEVs), as it is needed to ensure that PEV drivers can access charging infrastructure, as well as plan routes or use smartphones. The first DSRC-based V2X systems were deployed in late 2015 and more will be coming over the next several years. In addition to embedded OEM systems on new vehicles, aftermarket retrofit systems and smartphones with DSRC capability are expected to be adopted. By the early 2020s, some markets are expected to utilize 5G cellular technology as an alternative to DSRC. According to Navigant Research, global revenue from sales of OEM and aftermarket DSRC-based V2X systems is projected to reach more than $25.5 billion by 2025. This Navigant Research report examines the market for connected vehicles, with a focus on the key components of V2X communications technology. The study provides an analysis of how these factors, including the cost of hardware, regulations, potential societal benefits, and security and privacy concerns, are projected to affect OEMs, hardware and software suppliers, regulators, and intelligent transportation infrastructure operators. Global market forecasts of OEM and aftermarket sales of V2X equipment for light duty vehicles extend through 2025. The report also provides a review of major market drivers and barriers related to connected vehicles and the key industry players.