The emergence of intelligent V2X connectivity has catalyzed significant transformations within the automotive and transit sectors. Through facilitating seamless coordination between vehicles, infrastructure, vulnerable road users, and other entities, V2X is revolutionizing interconnectivity on our roadway networks. This paper conducts a comprehensive assessment of V2X’s implications for cultivating advanced connected and autonomous mobility solutions. A thorough evaluation of recent innovations and underlying core technologies sheds light on the benefits, challenges, and emerging applications resulting from V2X-enabled communications. Insights highlight V2X’s pivotal new role in substantially strengthening road safety, optimizing traffic flows, and moving self-driving viability closer to reality. Moreover, examination of operational deployments and continuing exploratory initiatives helps illuminate V2X’s likely future trajectories and potential to reshape the automotive domain. By nurturing networked intelligence across diverse roadway stakeholders, V2X frameworks establish a foundation where transportation systems prioritize efficiency, sustainability, and empowerment for all users. While obstacles remain, ongoing progress portends new possibilities for more equitable and safer transit globally in the years ahead.