Global 5G in Automotives Market Size By Application(Vehicle connection, Monitoring & Tracking, Automotive Driving), By Geographic Scope And Forecast

5G in Automotives Market Size And Forecast

5G in Automotives Market size was valued at USD 3,165.06 Million in 2021 and is projected to reach USD 4,855.53 Million by 2030, growing at a CAGR of 4.87% from 2023 to 2030.

Major factors which drive the market growth include advances in technology and the use of wireless technologies in security systems, the rapid increasing incidents of accidents on road, the increasing use of Internet Protocol (IP) -based cameras for video surveillance and the proliferation of the Internet Things (IoT.) based security along with cloud computing platform.  The Global 5G in Automotives Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global 5G in Automotives Market Definition

5G in Automotives is the protection of personnel, networks, hardware, software, and data from actions and physical events that can result in loss or serious damage to a company, organization or government agency including protection against fire, floods, natural disasters, theft, robbery, vandalism, and terrorism. While most of these are covered by insurance, prioritizing loss prevention through 5G in Automotives prevents the loss of time, money, and resources due to these events. As a result, protecting the physical perimeter and individual assets, including expensive technology equipment, has gained in importance.

The growing adoption of technology in the automotive industry and the growth of on road vehicles are driving the automotive 5G market. Growing mobile to mobile connectivity in the automotive industry is expected to drive the growth of 5G infrastructure during the forecast period. 5G technology is used for low-latency communication between vehicles and between vehicles and road infrastructure. The growing deployment of Ultra Reliability Low Latency 5G in the automotive industry is also driving the market growth.

Global 5G in Automotives Market Overview

5G in Automotives Market is experiencing a scaled level of attractiveness in the North American region. The North American area has a prominent presence and will account for a significant market share by 2030. The U.S is one of North America’s main markets. U.S. is growing with a substantial CAGR of 6.67% over the forecast period.

Okay, so yeah, we've got a few challenges in the 5G world. Things like figuring out the tech and getting everyone to agree on how to use the spectrum are slowing down the 5G party a little. But hey, silver linings, right? Self-driving cars becoming a global thing should give the market a real shot in the arm in the next few years. Of course, we can't ignore the elephant in the room – COVID-19 really put a damper on the global 5G rollout. The pandemic made companies a bit nervous about investing in new stuff. The 5G spectrum auction got delayed, which even made giants like Samsung and Oppo launch their newest phones in India without 5G, even though they do have 5G elsewhere! Even with those delays, we still saw a massive surge in demand for fast data because of the pandemic. Looking ahead, though, the car industry should really benefit from 5G after all this. We're talking about a huge increase in data usage, the need for super reliable connections for remote work, and tons of IoT devices making their way into our cars.

Looks like North America's 5G in Automotive market is revving up! We're expecting it to jump by USD 1,376.78 Million, growing at a solid 5.10% each year from 2023 to 2030. North America, especially those industrialized giants that churn out a lot of cars, is really leading the way here. Just check out the numbersOICA reported that the United States alone saw commercial vehicle sales climb from roughly 11.5 Million in 2020 to 12.05 Million in 2021. That kind of growth means only one thingeven more demand for 5G in our rides!

Global 5G in Automotives Market Segmentation Analysis

The Global 5G in Automotives Market is segmented on the basis of Application, And Geography.

5G in Automotives Market, By Application

• Vehicle connection• Monitoring & Tracking• Automotive Driving• Smart Surveillance• Others

So, how's 5G changing cars? Let's check out its Application! We're talking Vehicle connection, keeping those cars linked up, Monitoring & Tracking for better management, Automotive Driving for roads that are safer and smarter, Smart Surveillance for an extra set of eyes, and even others! Picture cars talking to each other, dodging danger together – that's 5G's vehicle-to-vehicle magic. And the vehicle connection piece? It's going to be HUGE in the 5G automotive world. Everyone wants more automated features, plus a comfy, safe, and easy ride. No wonder this market's booming! Ride-sharing and new ways to get around are also making vehicle connections even more crucial. Plus, loads of investment are going into machine learning to get a grip on traffic and roads using fast wireless – it's just going to keep getting better.

5G in Automotives Market By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

So, you're wondering where 5G's making waves in the car world? Geographically, we're looking at North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Right now, North America's poised to dominate, thanks to the major players in 5G tech, like Cisco Systems, T-Mobile US, Inc, VMware, Inc., Airspan Networks, Affirmed Networks Inc, American Tower and AT&T, all pushing the envelope. But hold on, Europe's expected to snag a big piece of the pie too. Why? Think luxury car brands like Benz, Audi, BMW Group, DAF Trucks, Daimler and Jaguar Land Rover. Plus, Europe's keen on adopting new stuff like the Internet of Things (IoT), wearables, and those awesome autonomous/connected vehicles, and that's really boosting the market over there.

Key Players

The “Global 5G in Automotives Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Huawei (China), Ericsson (Sweden), Samsung (South Korea), Nokia Networks (Finland), ZTE (China), NEC (Japan), CISCO (United States), CommScope (United States), Comba Telecom Systems (Hong Kong), Alpha Networks (Taiwan), Siklu Communication (United States, and Mavenir (United States).

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global 5G in Automotives market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in global 5G in Automotives market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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We're going to really dig into the market, checking it out from every perspective – looking at it from an economic angle and the softer, human side too. We'll tell you how big the market is (in good old USD Billion), broken down into all the smaller pieces. We’ll even highlight the region and segment poised to really explode and grab the top spot. Expect a breakdown of where things are happening geographically, showing where the product/service is popular and what's driving the market in each area. We'll give you a competitive view, like a leaderboard showing the major players, with all the details on their latest product launches, collaborations, expansions, and acquisitions for the last five years. You'll get a detailed profile of each big player, covering an overview, key takeaways, product benchmarking, and a SWOT analysis. We’ll also look at where the industry is now and where it’s heading, spotlighting recent news, growth opportunities, and the challenges both new and established regions face. We'll even break down the market using Porter's five forces. And we'll give you a Value Chain perspective, a sense of the market’s momentum, and a peek at future growth possibilities. Oh, and the best part? You get 6 months of analyst support after you buy the report!

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