Now valued at US$ 1.49 billion, the worldwide 5G in automotive and smart transportation industry is predicted to grow to a valuation of US$ 9.77 billion by the year 2030, according to a thorough market study. From 2022 to 2030, demand for 5G in the automotive and smart transportation sectors is expected to grow at an astounding CAGR of 26.5%. In 2021, the global market for smart transportation has a 2% share represented by 5G in the automotive and transportation sectors.
Over the forecast period, the automotive and defence sectors are expected to present profitable prospects. Currently, the defence sector maintains the second-largest market share of 26% in the 5G automotive and smart transportation environment. According to Future Market Insights, the 5G in automotive will be compared and reviewed.
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Study of 5G demand in the automotive and smart transportation sectors (2022 to 2030)
Over the past few years, there has been a significant increase in the demand for smart technology, which has been aided by quick technological breakthroughs. Also common in the automobile sector, this tendency is anticipated to continue over the forecast period.
Through 2030, some of the key trends that present new opportunities for 5G in automotive and smart transportation market players include growing digitization, the popularity of connected car technology, rising consumer demand, growing adoption of autonomous vehicles, rising demand for intelligent transportation, increasing electrification of vehicles, and rising internet penetration in the transportation and automotive industries.
Competitive Landscape
5G technology providers in automotive and intelligent transportation applications are investing in the research and development of new technologies to boost their market presence and revenue generation potential.
- In March 2022, Lockheed Martin, a leading defence product manufacturer based in United States, announced that it will be developing a new technology to connect military vehicles to 5G networks to improve battlefield communications.
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Key Segments of 5G in Automotive and Smart Transportation Industry Survey
5G in Automotive and Smart Transportation Market by Solution:
- Hardware Components
- Telematics Control Units (TCUs)
- Roadside Units (RSUs)
- Onboard Units (OBUs)
- Software Solutions
- Services
- Consultation Services
- Integration & Installation Services
- Maintenance & Support Services
5G in Automotive and Smart Transportation Market by Application:
- 5G Technology for Vehicle-to-Everything (V2X)
- 5G Technology for Infotainment & Telematics
- 5G Technology for Fleet Management
5G in Automotive and Smart Transportation Market by Industry:
- 5G Technology in Automotive
- 5G Technology in Defence
- 5G Technology in Transportation Infrastructure (Highways etc.)
- 5G Technology in Warehousing & Logistics
- 5G Technology in Public Safety
- Others
5G in Automotive and Smart Transportation Market by Region:
- North America 5G in Automotive and Smart Transportation Market
- Latin America 5G in Automotive and Smart Transportation Market
- Europe 5G in Automotive and Smart Transportation Market
- East Asia 5G in Automotive and Smart Transportation Market
- South Asia & Pacific 5G in Automotive and Smart Transportation Market
- Middle East & Africa (MEA) 5G in Automotive and Smart Transportation Market
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Levels of Increasing Automation
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Prevailing Trends in the Market
3.2. Key Trends and Implications Across Value Chain
4. Use Cases and Applications of 5G in Automotive and Smart Transportation
4.1. Use Cases
4.1.1. Safety
4.1.1.1. Red Light Violation Warning
4.1.1.2. Curve speed Warning
4.1.1.3. Stop Sign Gap Assist
4.1.2. Efficiency
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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