5G in Automotive and Smart Transportation Market Size to Witness Huge Growth by 2027

Global 5G in Automotive and Smart Transportation Market is valued approximately USD 747.53 million in 2019 and is anticipated to grow with a healthy growth rate of more than 26% over the forecast period 2020-2027. Automotive and Smart Transportation are vehicles are equipped with internet access facility and mainly work on wireless local area network. This internet connection helps the cars to connect with other devices both inside and outside the vehicle. These connections help to connect to smart phone which help use the advancing technologies in the car. The Integration of 5G in these Automobiles enables quick transfer of data without major loss in time. This speed provided by the integration of 5G enables real time data and information.

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Further, rise in the Demand for Safer, More Efficient, and Convenient Driving among the customers and government Mandates for Connected Car Applications has led the adoption of Connected Car across the forecast period. Also, evolution of the New Value Chain Ecosystem of the Automotive Industry is expected to fuel the demand for Connected Cars. However, the connected cars market faces a major restrains owing to the lack of supporting Infrastructure for connected cars in the developing countries and unavailability of standard Platforms. Further, the increasing hacking of internet connected devices and high costs of these cars pose a major challenge to the connected cars market. the integration of 5G in these Connected. Moreover, the increasing company initiatives fuels the market growth. As in July 2020, Tesla announced to have almost reached the level 5 autonomous driving technology. The company is also developing a new heat projection or cooling system to enable more advanced computers in the car. While in June 2020, Huawei announced to develop a self-driving 5G enabled vehicle that will be used to deliver medical supplies to the hospitals. For this the company has also partnered with Thailand national Broadcasting, telecommunication (NBTC) and Siriraj Hospital.

The regional analysis of global 5G in Automotive and Smart Transportation market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing connected car devices in passenger cars and increase in digital services such as cybersecurity and updates. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing government mandates and growing communication and information technology infrastructure for 5G would create lucrative growth prospects for the 5G in Automotive and Smart Transportation market across Asia-Pacific region.

Major market player included in this report are:

AUDI AG

BMW AG

Robert Bosch GmbH

Deutsche Telekom AG

Telefonaktiebolaget LM Ericsson

Huawei Device Co. Ltd.

Daimler AG

Nokia

Qualcomm Technologies Inc.

TelefA?nica S.A.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Solution:

Hardware Components

Software Solutions

Services

By Application:

Vehicle-to-Everything (V2X)

Infotainment and Telematics

Fleet Management

By Industry:

Automotive

Defense

Transportation Infrastructure

Warehousing and Logistics

Public Safety

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

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