5G in Automotive and Smart Transportation Market to Be

5G in Automotive and Smart Transportation Market to Be

DUBAI, United Arab Emirates, March 30, 2022 (GLOBE NEWSWIRE) — The global 5G in Automotive and

DUBAI, United Arab Emirates, March 30, 2022 (GLOBE NEWSWIRE) — The global 5G in Automotive and Smart Transportation Market is worth US$ 1.49 Bn at present, and detailed market analysis reveals that it is estimated to surge to a valuation of US$ 9.77 Bn by the end of 2030. Demand for 5G in automotive and smart transportation is predicted to rise at a phenomenal CAGR of 26.5% from 2022 to 2030.

The rising penetration of advanced technologies, including 5G and IoT, into the automotive and transportation sectors is anticipated to bestow lucrative revenue opportunities to market players. As automotive manufacturers leverage both the supply-side and demand-side advantages offered by the integration of 5G technology in automobiles, the market is set for robust growth through the assessment period.

5G in Automotive and Smart Transportation Market Size (2022) US$ 1.49 Bn
Estimated Market Worth (2030) US$ 9.77 Bn
Global Market Growth Rate (2022-2030) 26.5% CAGR
Automotive Industry Market Share 35.2 %

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The 5G technology has enabled manufacturers to deliver advanced features in vehicles such as fuel tracking, Advanced Driver-Assistance Systems (ADAS), real-time navigation and communication, in-vehicle infotainment systems, speed and cruise control, and improved fleet management, among others. Likewise, service providers are focusing on enhancing the vehicle-to-everything (V2X) communication solutions to improve road safety and lower the incidence of road accidents.

On these lines, as national governments across the world take measures to curb road accidents, integration of real-time navigation backed by 5G has emerged as an ideal solution, which is expected to further fuel the adoption. Besides, the increasing adoption of multimedia services in the passenger-transportation sector and the subsequent demand for high bandwidth networks to support them will continue to bolster the growth of 5G in the automotive and smart transportation market.

FMI in a recent study has projected that the global 5G in the automotive and smart transportation market will rise in value at a stellar CAGR of ~26.5% between 2022 and 2030. Some of the key takeaways from the report are:

  • The market is anticipated to surge past a global valuation of US$ 9.77 Bn by the end of 2030
  • On the basis of solutions, the hardware components are poised to account for the majority of the market share, owing to the surging adoption of On-Board Units (OBU) across numerous applications
  • By application, the fleet management sub-segment is poised to hold the lion’s share in the market value backed by high demand in the commercial vehicle sector
  • The Vehicle-to-Everything (V2X) application, on the other hand, is projected to grow at a tremendous value CAGR of ~30% on the back of growing emphasis on producing connected vehicles
  • By region, North America, forefronted by the US, is forecasted to prevail as the leading regional market backed by growing collaborations between service providers headquartered in the region and automotive manufacturers

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Scope of the Report

Attribute Details
Forecast Period 2022-2030
Market Analysis US$ Mn for Value
Key Regions Covered      •  North America

     •  Latin America

     •  Europe

     •  East Asia

     •  South Asia & Pacific

     •  Middle East & Africa (MEA)

Key Countries Covered      •  United States

     •  Canada
 
     •  Brazil

     •  Mexico

     •  Germany

     •  U.K.

     •  France

     •  Spain

     •  Italy

     •  China

     •  Japan

     •  South Korea

     •  India

     •  Indonesia

     •  Malaysia

     •  Singapore

     •  Australia

     •  New Zealand

     •  Turkey

     •  South Africa

     •  and GCC Countries

Key Market Segments Covered      •  Solution

     •  Application

     •  Industry

     •  Region

Key Companies Profiled      •  Audi Group

     •  BMW Group

     •  Robert Bosch GmbH

     •  Deutsche Telekom AG

     •  Telefonaktiebolaget LM Ericsson

     •  Huawei Device Co. Ltd.

     •  Daimler AG

     •  Mercedes-Benz

     •  Nokia

     •  Qualcomm Technologies Inc.

     •  Telefónica S.A.

     •  Verizon

     •  Vodafone Limited

     •  Volkswagen

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COVID-19 Impact on 5G in Automotive and Smart Transportation Market
The unforeseen outbreak of COVID-19 is expected to create fluctuations in the growth of the market, but the long-term growth prospects are expected to remain unhinged. In early 2020, governments in the East Asian region, a prominent regional market, implemented nationwide lockdowns to contain the swiftly mounting rate of infections. As a result, manufacturing in the automotive sector came to screeching health, consequently bringing down the sales of automobiles. Along similar lines, the COVID-19 also posed a challenge to the wide rollout of 5G networks, thus hindering its adoption in the automotive sector. While the downtrend prevailed through the first quarter, the revamp of the automotive market began from the end of the second quarter, ensuring that the healthy growth of the market remains intact.

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Who is winning?

Players operating in the 5G in the automotive and smart transportation market are opting for long-term investments directed towards upgrading new revenue streams, such as Wi-Fi 6, the next-generation standard in WiFi technology, and automotive intelligence to strengthen their foothold. Furthermore, players are launching novel technologies and are entering collaborations to gain a competitive edge:

  • In Jan 2020, Qualcomm Technologies, Inc. launched a Car-to-Cloud Service powered by 5G to help automakers keep cockpit and telematics systems up-to-date.
  • Around the same time, Verizon announced a partnership with HERE Technologies to collaborate on the development of safety and navigational systems in connected cars.

FMI’s report includes profiles of some of the most prominent names in the market including AUDI AG, BMW AG, Robert Bosch GmbH, Deutsche Telekom AG, Telefonaktiebolaget LM Ericsson, Huawei Device Co., Ltd., Daimler AG, Nokia, Qualcomm Technologies, Inc., Telefónica S.A., Verizon, Vodafone Limited, and Volkswagen

Explore FMI’s Extensive ongoing Coverage on Technology Domain 

Transportation Aggregators Market – Transportation of people, goods, and animal is very important aspect in the current’s era. Transportation aggregator is an entity which offers a selection of transportation services as core business either as a stand-alone providers or through partnerships solving numerous cascading problems of transportation.

Electronic Payment System for Transportation Market – Electronic payment System (EPS) is useful for paperless monetary transaction. Electronic payment brought a revolution in business process with less paper work, less time consumption, low labor cost as compared to traditional manual process business.

Smart Transportation Market – The rapid urbanization in today’s world is resulting into innovation of smart solutions for day to day activities. Smart transportation is one such important aspect. Smart transportation is an advanced transportation system which aims to provide innovative services related to different modes of transport and traffic management systems.

Wireless Video – 2.4/5GHz Market – A wireless video transmits up to 1080p video from an HDMI source. These include Blu-ray (2D and 3D), cable/satellite, and gaming systems. Most wireless video transmit IR signals, so that one can control the source that’s attached to the transmitter (cable box) while someone is away from the television.

Small Cell 5G Network Market – Small cells are becoming foundational as 5G technology era dawns as well as mobile experiences gassed-up by ultra-responsiveness and multiple-gigabit speeds. Small cells are low-powered cellular radio access points that can be deployed indoor or outdoor, and in licensed, shared or unlicensed spectrum, having a range of 10 meters to a few kilometers.

5G in Healthcare Market – 5G networks have the potential to transform and improve all of the critical components of healthcare. Over the last few years, the use of 5G networks in healthcare has increased, with its applications boosted by advances in robotics, IoT and AI that will shape the healthcare systems to a newly connected ecosystem.

5G-Enhanced Surveillance Market – 5G network will bring new opportunities for security surveillance industry. 5G enhanced mobile broadband capabilities support the bandwidth requirements of high resolution 4K and 8K video cameras in urban areas while delivering low latency, jitter-free and real time video feeds.

5G RAN Market – Cellular devices utilize radio waves in order to communicate. These devices convert the user’s voice and mobile data into digitalized signals sent as radio waves. Radio Access Networks (RANs) are implemented to ensure proper functioning of cellular devices and connect them to networks or the Internet.

5G Edge Cloud Network and Services Market – 5G technology and edge cloud computing are two inseparably linked technologies. 5G edge cloud network and services are poised to considerably enhance performance of enterprise and consumer grade applications and accommodate real time processing of huge volumes of data.

5G Fixed Wireless Access Market – The next era of wireless technology 5G is expected to open new opportunities to life altering innovations. It shall allow new innovations to flourish and dramatically change the day-to-day lives of consumers.

About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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