V2I Communication Market Size

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

The growth of the market can be attributed to factors such as the growing number of automobile thefts, rising technological advancements in the automotive industry, and increasing usage of internet of things (IoT) integrated systems, chips and sensors in the automotive sector. According to the Federal Bureau of Investigation (FBI), more than USD 6.4 billion was lost to motor vehicle theft in 2019. The average dollar loss per theft amounted to be USD 8,886. Furthermore, high fuel consumption and time wastage as a result of traffic congestion are giving rise to increasing government emphasis on enhanced traffic management. This is expected to offer ample growth opportunities to the market in the upcoming years.

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 Size