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The vehicle-to-infrastructure (V2I) communication market is experiencing exponential growth, with a trajectory that promises significant advancements and opportunities. This article delves into the current and forecasted market dynamics, the impact of rising automobile thefts, and the major trends and innovations driving this sector forward.

Current Market Dynamics

Exponential Growth in Recent Years

• 2023 to 2024 Growth: The V2I communication market is set to grow from $0.39 billion in 2023 to $0.53 billion in 2024.
• CAGR: This growth represents a compound annual growth rate (CAGR) of 34.1%.

Key Growth Drivers

• Infrastructure Modernization: Significant investments in updating and improving infrastructure.
• Road Safety Solutions: Increasing demand for enhanced road safety measures.
• Urbanization and Congestion: Challenges posed by growing urban populations.
• Government Initiatives: Support for smart transportation projects.
• Connected Vehicles: Adoption of connected and autonomous vehicle technologies.

View More On The Vehicle-To-Infrastructure (V2I) Communication Market Report 2024 – https://www.thebusinessresearchcompany.com/report/vehicle-to-infrastructure-v2i-communication-global-market-report

Future Market Outlook

Projected Growth

• 2024 to 2028 Growth: The market is expected to reach $1.72 billion by 2028.
• CAGR: This period will see a continued robust CAGR of 34.3%.

Emerging Growth Factors

• Automobile Thefts: The global rise in automobile thefts necessitates advanced V2I solutions.
• Automobile Industry Advancements: Continuous innovations in automotive technologies.
• Cybersecurity: Increasing emphasis on securing V2I communication.
• Mobility-as-a-Service (MaaS): The rise of MaaS platforms integrating V2I communication.
• Predictive Maintenance: Demand for solutions predicting maintenance needs for V2I infrastructure.

Impact of Automobile Theft

Role of V2I in Reducing Thefts

• Real-Time Tracking: Enables precise tracking of vehicles.
• Remote Immobilization: Allows vehicles to be immobilized remotely.
• Enhanced Security: Advanced features deter theft attempts.
• Rapid Recovery: Facilitates quicker recovery of stolen vehicles.

Case Study: Canada

• Increase in Thefts: According to the Equite Association, automobile thefts in Canada rose by 7.1% from 2022 to 2023.
• Market Growth Driver: The rise in thefts underscores the need for robust V2I solutions.

Innovations and Trends

5G and Multi-Access Edge Computing (MEC)

• Savari MECWAVE: An innovative platform developed by Harman International, launched in February 2022.
• Features: Provides low-latency processing, improved performance, and enhanced security.
• Applications: Supports latency-sensitive applications such as augmented reality and autonomous vehicles.

Strategic Acquisitions

• Danlaw Inc. and Cohda Wireless: In January 2024, Danlaw Inc. acquired Cohda Wireless.
• Objective: Enhance connected vehicle safety and smart city solutions through V2X technology integration.

Market Segmentation

By Component

• Hardware
• Software
• Services

By Technology

• Big Data Analytics
• Smart Sensors

By Application

• Dedicated Short Range Communication (DSRC)
• Cellular
• Wi-Fi
• WiMax
• Bluetooth

Regional Insights

North America Leads the Way

• Largest Market: North America was the largest region in the V2I communication market in 2023.
• Growth Drivers: Strong government support, advanced infrastructure, and a high adoption rate of new technologies.

Conclusion

The vehicle-to-infrastructure (V2I) communication market is on a rapid growth trajectory, driven by advancements in technology, rising security concerns, and increasing investments in smart infrastructure. As the market evolves, innovations such as 5G and MEC platforms, along with strategic acquisitions, will continue to enhance the capabilities and reach of V2I systems. With North America leading the charge, the future of V2I communication looks promising, paving the way for smarter, safer, and more connected transportation networks.

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The Vehicle-To-Infrastructure (V2I) Communication Global Market Report 2024  provides comprehensive insights on the vehicle-to-infrastructure (V2I) communication market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the vehicle-to-infrastructure (V2I) communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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