Vehicle-To-Infrastructure (V2I) Communication Global Market Report 2024

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 historical growth can be attributed to several factors including escalating investments in infrastructure modernization, a rising demand for improved road safety solutions, challenges posed by urbanization and congestion, governmental initiatives aimed at promoting smart transportation, and the 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 anticipated growth in the forecast period can be linked to several factors, including the global rise in automobile thefts, ongoing advancements in the automobile industry, heightened emphasis on cybersecurity for V2I communication, the emergence of mobility-as-a-service (MaaS) platforms, and increasing demand for predictive maintenance solutions for V2I infrastructure. Significant trends expected in this period encompass the integration of artificial intelligence and machine learning in V2I systems, advancements in 5G technology, a shift towards sustainable mobility solutions, the incorporation of V2I communication into smart city projects, and increased collaboration between automotive OEMs and technology providers.

The escalating instances of automobile theft are anticipated to act as a significant driver propelling the growth of the vehicle-to-infrastructure (V2I) communication market in the foreseeable future. Automobile theft, characterized by the unauthorized taking or stealing of motor vehicles, poses a persistent challenge, often attributed to opportunistic factors such as leaving keys in the ignition or parking in poorly illuminated areas. V2I communication emerges as a pivotal solution in mitigating automobile thefts by facilitating real-time tracking, remote immobilization, and implementing enhanced security measures, thereby deterring theft attempts and expediting the recovery of stolen vehicles. Recent data published by the Equite Association in February 2024 underscores the global escalation in automobile theft incidents, with Canada witnessing a notable increase from 2022 to 2023. This surge underscores the imperative for robust solutions to address the rising threat of automobile theft, thereby driving the demand for V2I communication technologies worldwide.

Key players within the vehicle-to-infrastructure (V2I) communication market are actively innovating to introduce cutting-edge solutions aimed at optimizing communication infrastructure for enhanced traffic management and safety. Notably, Savari MECWAVE emerges as a pioneering solution, leveraging distributed computing capabilities at the network edge to deliver low-latency processing for a myriad of applications and services. By bringing computing resources closer to end-users or devices, MEC platforms such as Savari MECWAVE ensure faster response times, superior performance, and heightened security, thereby enabling the deployment of latency-sensitive applications such as augmented reality and autonomous vehicles. In February 2022, Harman International unveiled the Savari MECWAVE platform, exemplifying its commitment to advancing V2X communications with ultra-low latency capabilities. By extending V2X functionalities to non-V2X-capable vehicles and devices, Savari MECWAVE augments safety and connectivity for drivers, passengers, and pedestrians alike. Through such innovative advancements, major players are poised to address evolving security challenges while enhancing the efficacy and reach of V2I communication solutions in the automotive landscape.

In January 2024, Danlaw Inc., a leading US-based provider of vehicle-to-everything (V2X) technology, finalized the acquisition of Cohda Wireless for an undisclosed sum. This strategic move is intended to elevate connected vehicle safety and smart city solutions by integrating V2X technology. By leveraging Cohda's V2X-Locate technology, Danlaw aims to enhance positioning accuracy and enable real-time communication among vehicles, infrastructure, pedestrians, and other road users. Cohda Wireless, headquartered in Australia, specializes in providing connected vehicle solutions, including vehicle-to-infrastructure (V2I) communication technologies.

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.

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.

The countries covered in the vehicle-to-infrastructure (V2I) communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Vehicle-to-infrastructure (V2I) communication denotes the exchange of data and information between vehicles and various roadside infrastructure elements such as traffic signals, road signs, toll booths, and parking meters. This seamless interaction enables vehicles to interface with their surrounding infrastructure, thereby optimizing traffic flow, elevating safety measures, and facilitating advanced transportation services.

The primary components of vehicle-to-infrastructure (V2I) communication comprise hardware, software, and associated services. Hardware encompasses tangible elements utilized in V2I communication setups, including onboard units (OBUs), roadside units (RSUs), antennas, sensors, and communication modules. Diverse technological solutions such as big data analytics and smart sensors find application across various platforms, including dedicated short-range communication (DSRC), cellular networks, wifi, WiMAX, and Bluetooth, catering to a wide array of operational needs.

The vehicle-to-infrastructure (V2I) communication market research report is one of a series of new reports that provides vehicle-to-infrastructure (V2I) communication market statistics, including vehicle-to-infrastructure (V2I) communication industry global market size, regional shares, competitors with a vehicle-to-infrastructure (V2I) communication market share, detailed vehicle-to-infrastructure (V2I) communication market segments, market trends, and opportunities, and any further data you may need to thrive in the vehicle-to-infrastructure (V2I) communication industry. This vehicle-to-infrastructure (V2I) communication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vehicle-to-infrastructure (V2I) communication market consists of revenues earned by entities by providing services such as V2I communication solutions, traffic management services, fleet management systems, smart parking solutions, infrastructure maintenance and monitoring, data analytics, and insights. The market value includes the value of related goods sold by the service provider or included within the service offering. The vehicle-to-infrastructure (V2I) communication market also includes sales of onboard units (OBUs), roadside units (RSUs), sensors, communication modules, and antennas. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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