About 5G in Automotive and Smart Transportation
The fifth generation of mobile networks is referred to as 5G. After 1G, 2G, 3G, and 4G, it is a new mobile standard. 5G promises ultra-low latency, improved network reliability, and increased network capability. 5G would have an effect on every industry due to its high speeds, increased reliability, and low latency. Smart transportation IoT solutions, when combined with smart city solutions, allow government agencies and their partners to improve community services and transportation for all, resulting in a cleaner, more reliable transportation system in cities. Smart transportation IoT solutions provide real-time visibility and reliable data, allowing city transportation authorities and organisations to increase performance while also building smarter, greener cities for their residents.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The smart transportation market is moderately competitive and comprises few market players, who enjoy a significant market share. In terms of market share, a few major players dominate the market, currently. These major players, with prominent shares in the market, are focusing on expanding their customer base across foreign countries, with the local governments focusing on strengthening the transport infrastructure. Analyst at AMA Research estimates that European and United States Players will contribute the maximum growth to Global 5G in Automotive and Smart Transportation market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Thales Group (France), Huawei Technologies Co., Ltd. (China), Siemens AG (Germany), IBM Corporation (United States), Cisco Systems, Inc. (United States), SAP (Germany), Cubic Corporation (United States), Alstom (France), Bombardier Inc. (Canada) and Harris Corporation (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global 5G in Automotive and Smart Transportation market by Type (Advanced Traveler Information Systems (ATIC), Advanced Transportation Management Systems (ATMS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transportation Systems (APTS) and Cooperative Vehicle Systems), Application (Traffic Management, Road Safety and Security, Parking Management, Public Transport and Other) and Region.
On the basis of geography, the market of 5G in Automotive and Smart Transportation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Brandwidth, the sub-segment i.e. Low Band 5G will boost the 5G in Automotive and Smart Transportation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Consumption of Autonomous Vehicles
Market Growth Drivers:
Government support and investments for transportation infrastructure growth has increased, Rise in Demand for Safety, Comfort, and Convenience and Encouraging the Development and promotion of Green Fuels
Challenges:
Complexities in Integration over Legacy Systems and Networks and Lack of Trust in A.I. Due to Inexperience of Human Expertise in A.I.
Restraints:
Concerns Related to Data Storage, Security & Management and High Capital Investment
Opportunities:
Increased Smart city projects in developed nations, Growing Artificial intelligence and IoT and Rising Demand for Efficient Transportation Networks across the World
Market Leaders and their expansionary development strategies
In February 2021, HARMAN International, a subsidiary of Samsung Electronics Co., Ltd. specializing in connected technologies for automotive, consumer, and enterprise markets, acquired a significant portion of Savari®, Inc.'s assets. Savari® is an automotive technology company based in Silicon Valley that focuses on developing vehicle-to-everything communications (V2X) technology for 5G Edge and automotive devices.
In June 2023, ZTE Corporation, a prominent global provider of information and communication technology solutions, and Tianyi Transportation Technology, an intelligent transportation operator and service provider, collaboratively introduced the world's pioneering 5G+ intelligent connected vehicle system at the Mobile World Congress (MWC) Shanghai 2023. This system seamlessly integrates Vehicle-Road-Cloud integration, marking an industry milestone. Furthermore, the two companies have entered into a strategic cooperation agreement to expedite the commercialization of autonomous driving services.
Key Target Audience
Service Providers, Network Providers, IT & Telecom Industry, End-Users, Governmental Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.