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Vehicle-to-Infrastructure (V2I) Communication Market Segmented By Automotive Vehicle-to-Infrastructure, Connected Vehicle to Infrastructure Communications, Vehicle To Infrastructure Market
Rising auto thefts and the need for increased vehicle security, advancements in the automotive industry ecosystem, and consumers going for smart vehicle functionality and security are key factors propelling the growth of the vehicle-to-infrastructure communication market, globally.
Manufacturers and technology developers are integrating the Internet of Things (IoT) to facilitate connected automobile applications, such as in-vehicle infotainment systems, Advanced Driver Assistance Systems (ADAS), smart fuel tracking, and automated speed control, among other features. Safety, efficiency, payment, and information technology enhancement applications of vehicle-to-infrastructure communication drive the global market growth.
Automotive ICT solution providers focus on adding new solutions such as dynamic traffic light control and smart parking control, to their portfolio in the currently mature automotive markets. Production and deployment of such solutions enable automotive ICT solution providers to enhance revenue generation in the vehicle-to-infrastructure communication market and retain their attractiveness.
Vehicle-to-infrastructure communication market participants are relying on sales partners across the globe in order to maintain their proximity to local as well as foreign customers. Also, focus on continuous expansion enables companies to generate revenue by forming strategic alliances with new sales representative companies and distributors in various vehicle-to-infrastructure communication markets.
Vehicle-to-infrastructure communication supply chain companies are focusing on integrating enhanced competencies and capabilities into their business and operational processes. These automotive capabilities include vehicle-to-infrastructure communication-based real time analytics.
Communication technology presents lucrative opportunities such as deployment of red light violation warning systems, curve speed warning systems, and stop sign gap assist systems, in the global vehicle-to-infrastructure communication market. Manufacturers and developers of V2I communication technology are offering V2I systems that possess the capability to accumulate data in real time, while the integrated software analyzes the accumulated data in real time.
Vehicle-to-infrastructure communication market players are striving to improve automation technologies used in their business processes. At the same time, these V2I providers are integrating innovative information and communication technologies that keep their vehicle-to-infrastructure communication hardware and software dynamic and adaptive.
Competitors in the vehicle-to-infrastructure communication marketplace are continuously striving to offer better automation processes and models that provide improved, economically feasible, and eco-friendly automobiles to consumers. This enhances customer satisfaction as improvements made to the technology boosts safety-related efficiencies of the overall system, while accommodating other features, such as vehicle-to-network (V2N) communication.
Qualcomm’s C-V2X platform is developed to serve as a foundation for automobiles to connect and communicate with each other and with the environment and infrastructure in the vicinity. The solution provides 360-degree non-line-of-sight awareness. This solution has been developed to enhance the level of predictability for improved road safety and autonomous driving.
Added to vehicle-to-infrastructure communication, Direct C-V2X includes vehicle-to-vehicle (V2V) and vehicle-to-pedestrian (V2P) communication. This solution provides enhanced communication range and reliability in dedicated ITS 5.9 GHz spectrum that is independent of a cellular network as well as network communication in traditional mobile broadband licensed spectrum.
The global market value for vehicle-to-infrastructure communication technology is estimated to expand at a value CAGR of over 20% during the forecast period. V2I market in Japan is emerging lucrative and the growth is attributed to estimated acceleration in adoption of automotive technologies during the forecast period.
However, the vehicle-to-infrastructure communication market in Asia Pacific Excluding Japan (APEJ) will offer a massive incremental opportunity of over a billion dollar, during the forecast period. The vehicle-to-infrastructure communication market in North America is expected to remain significant in the global vehicle-to-infrastructure communication market in terms of revenue in the year 2019.
Worldwide spending on information and communication technologies is increasing at a rapid pace every year, owing to rising adoption of technology products, such as consumer electronics, smart devices, software and software-dependent devices, and continuous launch of new IT & communication technologies since the past three years.
This accelerated adoption, along with the development and integration of new automotive technologies are propelling the growth of the vehicle-to-infrastructure communication market on a global scale.
PMR’s research study on the global vehicle-to-infrastructure communication market offers a detailed market segmentation, wherein key segments have been discussed in detail. The segmentation of the vehicle-to-infrastructure communication market has been offered on the basis of component, communication technology, and region.
Every segment has been analyzed in detail and data pertaining to the growth of each segment has been included in the study.
The research study on the vehicle-to-infrastructure communication market offers inclusive insights about the growth of the market in the most comprehensible manner for better understanding of users. Various insights offered in the report answer some salient questions that assist stakeholders in gauging all emerging possibilities in the market.