Vehicle to Infrastructure Communication Market to Grow with a CAGR of 17.19% through 2029
Increasing focus
on improving road safety and growing popularity of autonomous vehicles are
likely to drive the Market in the forecast period.
According to TechSci
Research report, “Vehicle to Infrastructure Communication Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”,
the Global Vehicle to Infrastructure Communication Market stood at USD 363 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 17.19% through 2029.
A
primary driver propelling the global vehicle-to-infrastructure (V2I)
communication market is the continuous evolution of connected vehicle
technologies. As automotive manufacturers increasingly embed vehicles with
advanced sensors, communication modules, and computing capabilities, the
potential for seamless interaction between vehicles and infrastructure grows
exponentially. These connected vehicles can communicate crucial information
with various elements of the transportation infrastructure, such as traffic
lights and smart traffic management systems.
The
rise of connected vehicles is particularly noteworthy as it aligns with the
broader trend of vehicle electrification, autonomy, and shared mobility. These
technological advancements collectively contribute to the demand for V2I
communication solutions. Connected vehicles, often equipped with GPS, radar,
and lidar systems, rely on V2I communication to exchange real-time data about
road conditions, traffic updates, and potential hazards. Consequently, the
integration of V2I communication enhances not only the safety of road users but
also the overall efficiency of transportation systems.
Government
initiatives geared towards developing smart transportation infrastructure
represent a significant driver propelling the global V2I communication market.
As urbanization intensifies and traffic congestion becomes a pressing
challenge, authorities worldwide are investing in intelligent transportation
systems (ITS) as part of broader smart city initiatives. Governments are
allocating substantial resources to deploy V2I communication technologies,
which form the backbone of these advanced transportation systems.
Through
targeted funding, regulatory support, and collaborative partnerships with
private sector stakeholders, governments aim to enhance traffic management,
reduce congestion, and improve overall road safety. Policymakers recognize the
transformative potential of V2I communication in optimizing traffic flow,
mitigating accidents, and creating more sustainable urban environments.
Consequently, the commitment to smart transportation initiatives acts as a
powerful catalyst, driving the adoption of V2I communication solutions on a
global scale. As governments prioritize the integration of technology to
address urban mobility challenges, the V2I communication market experiences
substantial growth opportunities.
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The Global Vehicle
to Infrastructure Communication Market is segmented into component, application, end user and
region.
Based on application,
The Cellular segment held the largest Market share in 2023. Cellular networks,
especially 4G and 5G, offer high data transfer speeds, facilitating quick and
efficient communication between vehicles and infrastructure. This capability is
crucial for applications that require real-time data exchange, such as traffic
management, navigation, and safety systems. Cellular
networks provide extensive coverage in urban, suburban, and rural areas. The
widespread availability of cellular infrastructure ensures that V2I
communication can occur in various environments, making it suitable for both
urban and highway scenarios. Cellular
networks are designed to handle a large number of connected devices
simultaneously. This scalability is essential for accommodating the increasing
number of connected vehicles and the growing complexity of V2I communication
systems. Many regions
already have well-established cellular infrastructure in place, making it
cost-effective and practical to leverage existing networks for V2I
communication. This compatibility with existing infrastructure simplifies the
deployment of V2I communication solutions. Cellular
communication standards are globally recognized and standardized, providing a
uniform platform for V2I communication. This global standardization facilitates
interoperability and ensures that V2I systems can work seamlessly across
different regions and with various types of vehicles.
Cellular
networks are designed to support the mobility of devices. Vehicles, which are
constantly moving, benefit from the ability of cellular networks to handle
seamless handovers between cell towers, ensuring continuous connectivity during
travel. The ongoing
transition to 5G technology further enhances the capabilities of cellular
communication. 5G offers ultra-low latency, improved reliability, and increased
data throughput, making it well-suited for applications demanding instantaneous
response times, such as autonomous driving and safety-critical V2I
interactions. Cellular
networks, especially with the advent of 5G, enable edge computing capabilities.
This allows for processing data closer to the source, reducing latency and
enhancing the efficiency of V2I applications that require quick
decision-making.
Major companies
operating in the Global Vehicle to Infrastructure Communication Market
are:
- Qualcomm Technologies, Inc
- Robert Bosch GmbH
- Continental AG
- NXP Semiconductors N.V.
- Denso Corporation
- Thales Group
- Kapsch TrafficCom AG
- Harman International
- Cohda Wireless
- Autotalks Ltd.
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“The Global Vehicle
to Infrastructure Communication Market is expected to rise in the upcoming
years and register a significant CAGR during the forecast period. The surge in demand for
vehicle-to-infrastructure (V2I) communication solutions is fueled by the rapid
advancements in connected vehicle technologies. The integration of
sophisticated sensors, communication modules, and computing capabilities in
modern vehicles propels the need for seamless interaction with infrastructure
elements. This connectivity, essential for real-time data exchange between
vehicles and traffic management systems, not only enhances road safety but also
aligns with broader trends in vehicle electrification and autonomy. The growing
prevalence of connected vehicles reinforces the imperative for robust V2I
communication, positioning it as a key driver in the evolution of the global
transportation ecosystem. Therefore, the Market of Vehicle to Infrastructure
Communication is expected to boost in the upcoming years”, said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based management
consulting firm.
“Vehicle to Infrastructure Communication Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component (Hardware, Software, Services), By Application (Cellular, Wi-Fi, DSRC, WiMAX, Bluetooth), By End User (Passenger Cars, Commercial Vehicles, Public Transportation, Emergency Vehicles, Others), By Region, By Competition 2019-2029”,
has evaluated the future growth potential of Global Vehicle to Infrastructure
Communication Market and provides statistics & information on Market size,
structure and future Market growth. The report intends to provide cutting-edge Market
intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Vehicle to Infrastructure
Communication Market.
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