5G Vehicle-to-Everything (V2X) is a promising technology to satisfy the increasing demands of intelligent transportation systems. Emerging V2X applications with a high level of automation impose very strict requirements on latency (less than 10 ms) and reliability (higher than 99.99%). For sporadic traffic, such demands can be satisfied with a distributed channel access method called Mode 2. This letter proposes an analytical model of Mode 2 that estimates the packet loss rate and the network capacity taking into account the peculiarities of Mode 2 and – in contrast to the existing models – provides the accuracy required in the emerging V2X scenarios. The model can be used to find the optimal transmission parameters that maximize the network capacity and/or to select the required bandwidth.

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