According to a new report published by UnivDatos Markets Insights, the 5G in automotive and transportation market was valued at USD 1.7 billion in 2021 & are expected to grow at a CAGR of 30% from 2022-2030. The analysis has been segmented into Solution (hardware, software, and services), Application (Vehicle-to-Everything (V2X), Infotainment and Telematics, Fleet Management), and End User (Automotive, Defense, Transportation Infrastructure, Warehousing and Logistics, Public Safety, Others), Region/Country.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 – https://univdatos.com/report/5g-in-automotive-and-smart-transportation-market/get-a-free-sample-form.php?product_id=39287

The 5G in automotive and transportation market reports have been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the 5G in automotive and smart transportation market. The 5G in automotive and transportation market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the 5G in automotive and transportation vehicle market at the global and regional levels.

Key Market Opportunities

Traffic congestion is one of the key problems faced by a number of countries such as China, India, the and USA due to the large number of population using their own vehicles for commuting purposes. With the increased adoption of 5G services, the development of mobility services has increased drastically in the past few years such as ride-sharing, car-sharing, and public transportation systems. With the help of the technology and the growing adoption of ride ride-sharing enables real-time communication and co-ordination between vehicles and infrastructure, which can improve the efficiency and accessibility of these services. For instance, according to the report published by U.S. Census Bureau American Community, reported that 91.55% of households reported having access to at least one vehicle in 2020, up from 90.82% in 2015. Therefore, the burgeoning adoption of mobility as a services is the biggest opportunity for 5G in automotive and smart transportation market.

COVID-19 Impact

The Coronavirus pandemic fundamentally affects the improvement of 5G technology in the car and smart transportation market. The pandemic has set out new difficulties and opened doors for these ventures and has sped up the reception of computerized advances in transportation and coordinated factors. 5G organizations can give the rapid availability and low-inactivity expected for continuous information trade and following, empowering strategies organizations to streamline their tasks and lessen costs, and empowering independent vehicles to convey and arrange with one another and with the framework. 5G organizations can likewise give new portability administrations, for example, ride-sharing and vehicle sharing, which can meet the changing requirements of shoppers during the pandemic and then some.

Segmentation Details:

·         By solution, the market is segmented into hardware, software, and solutions. Among these, hardware held the dominant share of the market in 2021.

·         By application, the market is categorized into Vehicle-to-Everything (V2X), Infotainment and Telematics, and Fleet Management. Among these, the Vehicle-to-Everything (V2X) segment holds the major share of the global market in 2021.

·         Based on end-user, the market is bifurcated into Automotive, Defense, Transportation Infrastructure, Warehousing and Logistics, Public Safety, Others. Among these, the automotive segment held a significant share of the market in 2021.

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Automotive Power Steering Motor Market Geographical Segmentation Includes:

·         North America (U.S., Canada, Mexico, and the Rest of North America)

·         Europe (Germany, UK, Spain, France, Italy, and Rest of Europe)

·         Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific)

·         Rest of the World

The North America region would exhibit the highest CAGR during 2022-2030 owing to the rapid growth rate in the automotive industry in the last couple of years. As the region covers the country such as the USA, and Canada that have favorable technological infrastructure, with the leading automotive and telecommunication companies such as General Motors, Tesla, and Verizon respectively which are continuously adding value for the adoption of 5G technology and connected vehicles. For instance, according to the report published by Central for Strategic & International Studies have reported, in the USA 270 million people have access to 5G services further propelling the growth of the market. Additionally, favorable government policies such as the Federal Communications Commission (FCC) of the US have allocated spectrum for the deployment of C-V2X (cellular vehicle-to-everything) technology, which enables vehicles to communicate with other vehicles, infrastructure, and the cloud. The FCC's initiative aims to reduce accidents and increase road safety by providing real-time information to drivers. Moreover, the growing number of connected vehicles and electric vehicles in the region has spiked the demand in the market. For instance, GM Motors invested USD 2.3 billion in a Lordstown, Ohio plant to mass-produce Ultium battery cells through the formation of Ultium Cells LLC, a joint venture with LG Energy Solution, which will ramp up the production of EVs in the country and support the growth of 5G in the automotive and smart transportation market in coming years.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the 5G in the automotive and smart transportation market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.

Recent Developments:

·         In May 2022, Lockheed Martin Corporation a US-based defence manufacturer company has developed new technology to integrate 5G connectivity into military vehicles. The company has partnered with Nokia to develop a 5G private network for its vehicles.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the 5G in automotive and smart transportation market?

• Which factors are influencing the 5G in automotive and smart transportation market over the forecast period?

• What are the global challenges, threats, and risks in the 5G in automotive and smart transportation market?

• Which factors are propelling and restraining the 5G in automotive and smart transportation market?

• What are the demanding global regions of the 5G in automotive and smart transportation market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

• What are the descriptive profiles of key companies along with their SWOT analysis?

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Target Audience:

·         Automotive Manufacturers

·         Telecommunication Companies

·         Technology Companies

·         End User

·         Market-related associations, organizations, forums, and alliances

·         Government bodies, such as regulating authorities and policymakers

·         Venture capitalists, private equity firms, and start-up companies

·         Distributors and sales firms

·         Research institutes, organizations, and consulting companies

About UnivDatos Market Insights

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