Overview and Scope
Vehicle-to-infrastructure (V2I) communication refers to the exchange of data and information between vehicles and roadside infrastructure elements such as traffic signals, road signs, toll booths, and parking meters. This communication allows vehicles to interact with the surrounding infrastructure to improve traffic flow, enhance safety, and enable advanced transportation services.
Sizing and Forecast
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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Segmentation & Regional Insights
The vehicle-to-infrastructure (V2I) communication market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Big Data Analytics, Smart Sensors
3) By Application: Dedicated Short Range Communication (DSRC), Cellular, Wi-Fi, WiMax, Bluetooth
North America was the largest region in the vehicle-to-infrastructure (V2I) communication market in 2023. The regions covered in the vehicle-to-infrastructure (V2I) communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the vehicle-to-infrastructure (V2I) communication market are 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
The vehicle-to-infrastructure (v2i) communication market report table of contents includes:
1. Executive Summary
- Vehicle-To-Infrastructure (V2I) Communication Market Characteristics
- Vehicle-To-Infrastructure (V2I) Communication Market Trends And Strategies
- Vehicle-To-Infrastructure (V2I) Communication Market – Macro Economic Scenario
- Global Vehicle-To-Infrastructure (V2I) Communication Market Size and Growth
…..
- Global Vehicle-To-Infrastructure (V2I) Communication Market Competitive Benchmarking
- Global Vehicle-To-Infrastructure (V2I) Communication Market Competitive Dashboard
- Key Mergers And Acquisitions In The Vehicle-To-Infrastructure (V2I) Communication Market
- Vehicle-To-Infrastructure (V2I) Communication Market Future Outlook and Potential Analysis
- Appendix
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