(MENAFN- America News Hour) Vehicle-to-Infrastructure (V2I) Communication Market: Global Demand Analysis & Opportunity Outlook 2030”
which delivers detailed overview of the global vehicle-to-infrastructure (V2I) communication market in terms of market segmentation by end user, component, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The market size is projected to reach USD 2.5 billion by 2030, at a CAGR of ~30% during 2022-2030.The global vehicle-to-infrastructure (V2I) communication market is segmented by end user and component. Based on end user, the cellular segment is anticipated to hold the largest market share over the forecast period i.e., 2022 – 2030, owing to the effectiveness of cellular applications in managing large number of messages in high traffic environment and high performance in terms of cybersecurity. Moreover, on the basis of component, the hardware segment is projected to grab the largest market share ascribing to the rising requirement for advanced road markings and smart signs.
The market is anticipated to reach a significant CAGR during the forecast period on the back of rise in number of vehicle thefts, and increasing number of technological advancements in the automobile industry. Apart from these, growing use of IoT, chips and sensors, and government focus to manage traffic effectively are also estimated to drive market growth in the coming years.
Geographically, the vehicle-to-infrastructure (V2I) communication market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Europe region is anticipated to witness the highest growth during the forecast period attributing to the surging number of smart automotive projects undertaken by the government and strong presence of market players in the region.
Major players include in the global Vehicle-to-Infrastructure (V2I) Communication Market market:
Continental AG Robert Bosch GMBH Autotalks Ltd. Qualcomm Technologies, Inc. Daimler AG Toyota Motor Corporation General Motors Delphi Automotive LLP Volkswagen AG BMW AG
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Growing Number of Vehicle Thefts to Drive Market Growth
As the number of car thefts are increasing since the last few years, the demand for the safety of automobiles is also rising at a rapid pace. This has resulted in automotive companies to develop innovative technologies such as vehicle-to-infrastructure communication that focus on improving vehicle safety. This is considered to be a crucial factor driving market growth in the coming years.
However, high initial investment for implementation of V2I communication systems is expected to operate as key restraint to the growth of the vehicle-to-infrastructure (V2I) communication market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global vehicle-to-infrastructure (V2I) communication market which includes company profiling of Continental AG, Robert Bosch GMBH, Autotalks Ltd., Qualcomm Technologies, Inc., Daimler AG, Toyota Motor Corporation, General Motors, Delphi Automotive LLP, Volkswagen AG, BMW AG, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the vehicle-to-infrastructure (V2I) communication market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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