V2I Communication Market Share

On the basis of geographical analysis, the vehicle-to-infrastructure (V2I) communication market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Europe region is estimated to witness noteworthy growth over the forecast period on the back of surge in the number of smart automotive projects undertaken by the government, high car production and strong presence of market players in the region. For instance, the largest number of cars in Europe were produced in Germany in 2020. The number was calculated to be almost 3.6 million. In addition, escalating number of collaboration projects among companies to reform smart transportation services is also assessed to boost market growth in the region.

North America Market Analysis

Moreover, North America acquires the largest share during the forecast period owing to favorable government initiatives supporting V2I communication standards and hike in demand for connected car technology.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of vehicle-to-infrastructure communication is evaluated at USD 401.12 million.

Vehicle-to-Infrastructure (V2I) Communication Market size was valued at USD 309.7 million in 2023 and is set to cross USD 18.37 billion by 2036, expanding at more than 36.9% CAGR during the forecast period i.e., between 2024-2036. The market growth is impelled by increasing automobile thefts globally and growing advancements in the automotive industry.

Europe is expected to hold largest revenue share by 2036, on the back of surge in the number of smart automotive projects undertaken by the government, high car production and strong presence of market players in the region.

The major players in the market include General Motors, Delphi Automotive LLP, Daimler AG, Toyota Motor Corporation, Audi, Volkswagen, BMW, and Volvo Cars.

V2I Communication Market Share