The Europe 5G in Automotive and Smart Transportation Market is expected to witness market growth of 28.1% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe 5G in Automotive and Smart Transportation Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.17 billion by 2031. The UK market is exhibiting a CAGR of 27% during 2024-2031. Additionally, the France market is expected to experience a CAGR of 29.1% during 2024-2031.
The uses of 5G in the automotive and smart transportation sectors are varied and far-reaching. These applications enhance vehicle safety and efficiency, contributing to environmental sustainability and improved passenger experiences. By allowing real-time operation of technologies like adaptive cruise control, emergency braking, and collision avoidance, 5G improves car safety.
Additionally, V2X communication allows vehicles to detect traffic hazards, pedestrians, or other vehicles in blind spots, significantly reducing the likelihood of accidents. Real-time traffic data transmitted via 5G can provide drivers with optimized route suggestions, avoiding congested roads and reducing travel time. This is particularly beneficial for autonomous vehicles, which rely on precise navigation to make real-time decisions based on current conditions.
The growing European Union (EU) transportation sector, especially the dominance of maritime and road transport, presents significant opportunities for advancing 5G automotive and smart transportation market. Eurostat said maritime transport accounted for 67.8% of freight transport in the EU in 2022, with road transport following closely at 24.9%. The growing reliance on these transportation forms highlights the need for improved connectivity, real-time data exchange, and automation to maximize regional operations. This demand for smarter, more efficient transport solutions aligns perfectly with the capabilities of 5G technology, which is set to transform the automotive and smart transportation landscapes.
The Germany market dominated the Europe 5G in Automotive and Smart Transportation Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.17 billion by 2031. The UK market is exhibiting a CAGR of 27% during 2024-2031. Additionally, the France market is expected to experience a CAGR of 29.1% during 2024-2031.
The uses of 5G in the automotive and smart transportation sectors are varied and far-reaching. These applications enhance vehicle safety and efficiency, contributing to environmental sustainability and improved passenger experiences. By allowing real-time operation of technologies like adaptive cruise control, emergency braking, and collision avoidance, 5G improves car safety.
Additionally, V2X communication allows vehicles to detect traffic hazards, pedestrians, or other vehicles in blind spots, significantly reducing the likelihood of accidents. Real-time traffic data transmitted via 5G can provide drivers with optimized route suggestions, avoiding congested roads and reducing travel time. This is particularly beneficial for autonomous vehicles, which rely on precise navigation to make real-time decisions based on current conditions.
The growing European Union (EU) transportation sector, especially the dominance of maritime and road transport, presents significant opportunities for advancing 5G automotive and smart transportation market. Eurostat said maritime transport accounted for 67.8% of freight transport in the EU in 2022, with road transport following closely at 24.9%. The growing reliance on these transportation forms highlights the need for improved connectivity, real-time data exchange, and automation to maximize regional operations. This demand for smarter, more efficient transport solutions aligns perfectly with the capabilities of 5G technology, which is set to transform the automotive and smart transportation landscapes.
List of Key Companies Profiled
- BMW AG
- Robert Bosch GmbH
- Cisco Systems, Inc.
- Vodafone Group Plc
- Nokia Corporation
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Telefónica S.A.
- Verizon Communications, Inc.
- Toyota Motor Corporation
- Ericsson AB
Market Report Segmentation
By Solution
- Software Solutions
- Hardware Components
- Telematics Control Units (TCUs)
- Roadside Units (RSUs)
- Onboard Units (OBUs)
- Services
- Integration & Installation Services
- Consultation Services
- Maintenance & Support Services
By Application
- Vehicle-to-Everything
- Infotainment & Telematics
- Fleet Management
By Industry
- Automotive
- Transportation Infrastructure
- Warehousing & Logistics
- Defense
- Public Safety & Other Industry
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Europe 5G in Automotive and Smart Transportation Market by Solution
Chapter 6. Europe 5G in Automotive and Smart Transportation Market by Application
Chapter 7. Europe 5G in Automotive and Smart Transportation Market by Industry
Chapter 8. Europe 5G in Automotive and Smart Transportation Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- BMW AG
- Robert Bosch GmbH
- Cisco Systems, Inc.
- Vodafone Group Plc
- Nokia Corporation
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Telefónica S.A.
- Verizon Communications, Inc.
- Toyota Motor Corporation
- Ericsson AB
Methodology
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