Vehicle-To-Infrastructure (V2I) Communication Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region

"The Business Research Company recently released a comprehensive report on the Global Vehicle-To-Infrastructure (V2I) Communication Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The vehicle-to-infrastructure (V2I) communication market size has grown exponentially in recent years. It will grow from $0.39 billion in 2023 to $0.53 billion in 2024 at a compound annual growth rate (CAGR) of 34.1%. The growth in the historic period can be attributed to Increasing investments in infrastructure modernization, demand for enhanced road safety solutions, growing urbanization and congestion challenges, government initiatives promoting smart transportation, increasing adoption of connected and autonomous vehicles.

The vehicle-to-infrastructure (V2I) communication market size is expected to see exponential growth in the next few years. It will grow to $1.72 billion in 2028 at a compound annual growth rate (CAGR) of 34.3%. The growth in the forecast period can be attributed to Increasing automobile thefts globally, growing advancements In the Automobile Industry, growing emphasis on cybersecurity for V2I communication, Rise of mobility-as-a-Service (MaaS) platforms, demand for predictive maintenance solutions for V2I infrastructure. Major trends in the forecast period include Integration of artificial intelligence and machine learning in V2I systems, advancements in 5G technology, shift towards sustainable mobility solutions, integration of V2I communication in smart city projects, collaboration between automotive OEMs and technology providers.

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Market Drivers and Trends:

The increasing automobile theft is expected to propel vehicle-to-infrastructure (V2I) communication market growth going forward. Automobile thefts are the unauthorized taking or stealing of motor vehicles without the owner's consent or knowledge. The increasing number of automobile thefts is due to opportunistic reasons, such as leaving keys in the ignition while the vehicle is unattended or parking in poorly lit areas. Vehicle-to-infrastructure (V2I) communication aids in decreasing automobile thefts by enabling real-time tracking, remote immobilization, enhanced security features, deterring theft attempts, and facilitating the rapid recovery of stolen vehicles. For instance, in February 2024, according to a report published by the Equite Association, a Canada-based national organization, automobile theft in Canada increased from 70,082 to 70,475, an increase of 7.1% from 2022 to 2023. Therefore, the increasing automobile theft globally is driving the growth of the vehicle-to-infrastructure (V2I) communication market.

Major companies operating in the vehicle-to-infrastructure (V2I) communication market are developing innovative solution such as Savari MECWAVE to optimize vehicle-to-infrastructure communication for enhanced traffic management and safety. Savari MECWAVE platforms offer distributed computing capabilities at the network edge, enabling low-latency processing for applications and services. They provide users faster response times, improved performance, and enhanced security by bringing computing resources closer to end-users or devices. MEC platforms facilitate deploying latency-sensitive applications such as augmented reality, autonomous vehicles, and IoT devices. For instance, in February 2022, Harman International, a US-based electronics company, launched Savari MECWAVE, an innovative multi-access edge computing (MEC) software platform. MECWAVE is a platform that enables automakers and mobile network operators to deploy vehicle-to-everything (V2X) communications with ultra-low latency, enhancing safety and connectivity for drivers, passengers, and pedestrians. It extends V2X capabilities to non-V2X-capable vehicles and devices.

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Major Key Players of the Market:

Toyota Motor Corp., Hitachi Ltd., Bosch Mobility Solutions, Cisco Systems Inc., DENSO Corporation, Qualcomm Technologies Inc., Continental AG, Magna International Inc., Nokia Corporation, Telefonaktiebolaget LM Ericsson, Aptiv PLC, NXP Semiconductors, AECOM Technology Corporation, WSP Global, Visteon Corporation, TransCore LP, HNTB Corporation, SWARCO AG, Kapsch TrafficCom, Iteris Inc., Mitsubishi Electric Corporation, Econolite Group Inc., Autotalks Ltd., Commsignia Ltd., Cohda Wireless

Vehicle-To-Infrastructure (V2I) Communication Market 2024 Key Insights:

• The vehicle-to-infrastructure (V2I) communication market size is expected to see exponential growth in the next few years. It will grow to $1.72 billion in 2028 at a compound annual growth rate (CAGR) of 34.3%.
• Impact Of Automobile Theft On Vehicle-to-Infrastructure (V2I) Communication Market
• Advancements In 5G And Multi-Access Edge Computing For V2I Communication
• North America was the largest region in the vehicle-to-infrastructure (V2I) communication market in 2023

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