Global 5G in Automotive and Smart Transportation market projected to grow significantly by 2033

From GlobeNewswire: 2024-07-24 04:00:00

The Global 5G in Automotive and Smart Transportation Market is projected to grow from USD 1.82 Billion in 2023 to USD 17.88 Billion by 2033, with a CAGR of 25.67%. This involves incorporating 5G technology into vehicles for advanced features like multimedia, navigation, and ADAS. Real-time connectivity demand is driving growth, despite high costs affecting profit margins (source: https://www.sphericalinsights.com/request-sample/5218).

Hardware components are expected to dominate the global 5G in Automotive and Smart Transportation market. This includes infrastructure such as small cells, antennas, and network equipment for expanding 5G networks worldwide. The Vehicle-to-everything (V2X) segment is predicted to hold the largest share in the market, connecting cars to infrastructure like traffic lights to enhance road safety and reduce congestion (source: https://www.sphericalinsights.com/checkout/5218).

North America is forecasted to have the biggest share in the global 5G in Automotive and Smart Transportation market, driven by leading automotive and technology industries. Asia Pacific is expected to grow rapidly due to automotive manufacturing and smart city initiatives. Major players in the market include Audi, BMW, Qualcomm, Vodafone, Daimler, Volkswagen, and others (source: https://www.sphericalinsights.com/request-discount/5218).

In January 2024, Qualcomm Technologies revealed automotive solutions at CES built on the Snapdragon Digital Chassis platform to support driver assistance, connected cars, and digital cockpits. Spherical Insights forecasts market revenue at the global, regional, and country levels from 2020 to 2033, segmenting by Solution, Application, End User, and Region. (source: https://www.sphericalinsights.com/inquiry-before-buying/5218).



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