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Vehicle-to-Infrastructure (V2I) Communication Market

Global Market Study on Vehicle-to-Infrastructure (V2I) Communication: Integration of Real-Time Analytical Capabilities Underway

Vehicle-to-Infrastructure (V2I) Communication Market by Componenet (Hardware, Software and Services), Hardware Segment hold the 38% market share of Vehicle-to-Infrastructure (V2I) Communication Market.

Vehicle-to-Infrastructure (V2I) Communication Market Outlook

The market for vehicle-to-infrastructure (V2I) communication was valued at US$ 230.3 Mn in 2022, and by the end of 2033, it is expected to have grown to US$ 7,280.8 Mn. The market for vehicle-to-infrastructure (V2I) communication is estimated to valuate to US$ 311.8 Mn in 2023, and is predicted to grow at a CAGR of 37% from 2023 to 2033.

Vehicle-to-Infrastructure (V2I) Communication is a technology that enables vehicles to communicate and exchange data with the surrounding infrastructure, such as traffic signals, road signs, and other vehicles. The aim of V2I communication is to enhance road safety, reduce traffic congestion, improve environmental sustainability, and enhance the overall driving experience

In V2I communication, vehicles equipped with sensors and communication devices, such as on-board computers and dedicated short-range communications (DSRC) modules, send and receive information about their surroundings and road conditions to and from the infrastructure. This information can be used to make real-time adjustments to traffic flow, enhance road safety, and provide drivers with relevant information and alerts.

There are several factors that are significantly contributing to the growth of the vehicle-to-infrastructure (V2I) communication market such as growing traffic congestion in cities has made it necessary to implement smart transportation systems, which includes V2I communication, government regulations & policies towards encouraging the implementation of V2I communication systems by mandating their utilization and so on.

Vehicle- to-infrastructure communication market is 35% of the global automotive V2X market.

As per the regional market outlook North American region held a leading market share of 28.4% in the global vehicle-to-infrastructure (V2I) communication market in 2022. Whereas the demand for vehicle-to-infrastructure (V2I) communication in the Europe region is analyzed to hold the market share of around 23.1% of the market in 2023.

Vehicle-to-Infrastructure (V2I) communication Market Size (2023)

US$ 311.8 Mn

Projected Market Value (2033)

US$ 7,280.8Mn

Global Market Growth Rate (2023-2033)

37%

Hardware Segment Market Share (2022)

38.7%

India Market Growth Rate (2022)

41.1%

Bluetooth Segment Market Share (2022)

28.1%

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What are the Major Factors Impending the Growth of vehicle-to-infrastructure (V2I) communication Market?

“High implementation cost along with the lack of V2I-enabled infrastructure are some of the major impediments to the market growth”

High cost of Implementing V2I technology along with the lack of standardization in V2I technology, lack of V2I-enabled infrastructure are some of the major barrier to widespread adoption of the Vehicle-to-Infrastructure (V2I) communication technology.

Additionally, there are concerns about the privacy & security of sensitive information that may be transmitted through V2I systems and slow pace of regulatory approval are the significant attributes that are hindering their adoption.

  • In June 2022, PATEO Corporation had collaborated with the Qualcomm Technologies, Inc. with the goal to develop technologies for supporting smart vehicle connectivity, vehicle intelligence, Service-Oriented Architecture and so on.
  • In July 2021, Magna International Inc. had acquired Veoneer Inc. with the goal of strengthening and broadening its advanced driver assistance portfolio as well as industry status.
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What Are the Major Driving Forces Behind the Dominant Share of U.S Vehicle-To-Infrastructure (V2I) Communication Market?

“Increasing Adoption of Advanced Driver Assistance & Safety Technologies

Rising adoption of advanced driver assistance & safety technologies in the automotive sector along with the growing demands for enhance mobility for disabled individuals & those who cannot drive and so on. These factors are providing lucrative opportunity for the adoption of vehicle-to-infrastructure (V2I) communication system in the US region contributing to its significant share of 22.1% in 2022.

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What Are the Growth Opportunities for Wireless Audio Device Market in India?

“Rising Governmental Initiatives towards the Adoption of Driver Safety Systems”

Increased governmental support towards the adoption of driver safety systems like funding & regulatory incentives, are significantly contributing to the widespread adoption of V2I technology. Additionally, increasing adoption of environment friendly technologies are also boosting the adoption of V2I communication technology since V2I can help reduce emissions by reducing congestion & improving vehicle efficiency.

Such factors are majorly contributing to usher the growth of the vehicle-to-infrastructure (V2I) communication market at a CAGR of 41.1% over the forecast period in India.

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What Components Are Influencing the Market Share of France in The Global Vehicle-To-Infrastructure (V2I) Communication Market?

Rising demands for fuel-efficient vehicle control systems

Rising collaboration between automotive manufacturers, technology companies and transportation agencies are accelerating the development & implementation of V2I technology. Additionally, V2I helps in improving vehicle efficiency by providing real-time information on traffic conditions, fuel-efficient routes & parking availability and helps in managing & optimizing traffic flow, reducing congestion & improving travel time.

Such factors are expected to accelerate the adoption of vehicle-to-infrastructure (V2I) communication systems in the France.

Category-wise Insights

Why Hardware Segment Hold the major Market Share in the vehicle-to-infrastructure (V2I) communication market?

Hardware component like the on-board unit (OBU) or the roadside unit (RSU), is a critical component in V2I communication as it enables the exchange of information between vehicles and infrastructure. OBUs are typically installed in vehicles and RSUs are installed along roadsides or on infrastructure.

Currently, the market for hardware components in V2I technology is growing as more and more vehicles are equipped with advanced driver-assistance systems (ADAS) and connected features that require V2I communication.

These factors are influencing the major share of 38.7% hardware segment in the vehicle-to-infrastructure (V2I) communication market.

Why Vehicle-to-Infrastructure (V2I) Communication equipped with Bluetooth technology holds the significant position in 2021?

Various factors that are analysed to be the major contributors to the widespread adoption of Bluetooth equipped vehicle-to-infrastructure (V2I) communication technology are Bluetooth technology is widely available & low-cost, making it an attractive solution for V2I communication along with that Bluetooth technology is widely adopted in many devices, making it a well-established & reliable technology for V2I communication.

The market share of government & defence sector in the vehicle-to-infrastructure (V2I) communication market is analysed to be 28.1% in 2022.

Competitive Landscape

Various companies are investing heavily in research and development to improve the efficiency & effectiveness of V2I technology. The market is still in its early stages and is expected to grow significantly in the coming years, attracting new players and intensifying competition.

  • In February 2022, HARMAN had launched Savari MECWAVE platform with low latency compute for turnkey connectivity. It accelerates the implementation of V2X communications including potential danger alerts & high-throughput connectivity experiences such as multimedia infotainment & streaming video.
  • In November 2021, Continental Inc. had developed a smart software to facilitate complex driving manoeuvres autonomously and facilitates vehicle-to-vehicle communication. The advanced driving organiser is a cutting-edge solution that allows for autonomous driving starting at Level 3.

Recent developments related to key players providing vehicle-to-infrastructure (V2I) communication market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Vehicle-to-Infrastructure (V2I) Communication Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2018-2022

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and 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
  • GCC Countries

Key Market Segments Covered

  • Component
  • Application
  • Region

Key Companies Profiled

  • Qualcomm
  • Intel Corporation
  • NXP Semiconductor
  • Broadcom
  • AT&T, Inc.
  • Verizon
  • MediaTek
  • Delphi Automotive
  • Infineon Technology
  • Savari
  • Quectel Wireless Solutions
  • Unex Technology
  • 3M
  • Ericsson

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Key Segments of vehicle-to-infrastructure (V2I) communication Market Industry Research

By Component:

  • Hardware
    • Telematics Unit
    • Roadside Unit
    • Onboard Unit
  • Software
  • Services

By Application:

  • DSRC
  • Cellular
  • Wi-Fi
  • WiMAX
  • Bluetooth

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • Qualcomm
  • Intel Corporation
  • NXP Semiconductor
  • Broadcom
  • AT&T, Inc.
  • Verizon
  • MediaTek
  • Delphi Automotive
  • Infineon Technology
  • Savari
  • Quectel Wireless Solutions
  • Unex Technology
  • 3M
  • Ericsson

- Frequently Asked Questions -

In 2023, the market value of vehicle-to-infrastructure (V2I) communication was US$ 311.8 Mn.

The global vehicle-to-infrastructure (V2I) communication market is estimated to advance at a 37% CAGR through 2033.

The market for vehicle-to-infrastructure (V2I) communication is forecasted to climb to US$ 7,280.8 Mn by 2033 end.

Demand for vehicle-to-infrastructure (V2I) communication market in India is projected to rise at a CAGR of 41.1% over the forecast period.

In 2022, the North America vehicle-to-infrastructure (V2I) communication market held a dominant market share of 28.4%.

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