What is Global Wireless Communication Technology for Vehicles Market?
The Global Wireless Communication Technology for Vehicles Market is an innovative and rapidly evolving sector that is transforming the way we communicate while on the move. This technology enables vehicles to connect with each other and with infrastructure, providing real-time information to drivers and improving road safety. The market encompasses various wireless communication technologies such as Dedicated Short-Range Communications (DSRC), cellular-based communication, and satellite-based communication. These technologies are being integrated into vehicles to provide services like real-time traffic updates, vehicle diagnostics, and entertainment services. The market is driven by the increasing demand for connected vehicles and the growing need for vehicle safety and security.
Dedicated Short-range Communication, Mesh in the Global Wireless Communication Technology for Vehicles Market:
Dedicated Short-range Communication (DSRC) and Mesh based communication are two key components of the Global Wireless Communication Technology for Vehicles Market. DSRC is a wireless communication technology designed specifically for automotive use. It enables vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, which can significantly enhance road safety and traffic efficiency. On the other hand, Mesh based communication is a network topology in which each node relays data for the network. In the context of vehicle communication, it allows for a more reliable and robust communication system, as the failure of a single node does not disrupt the entire network. Both these technologies are crucial in the development of intelligent transportation systems and autonomous vehicles.
Passenger Car, Commercial Vehicle in the Global Wireless Communication Technology for Vehicles Market:
The Global Wireless Communication Technology for Vehicles Market finds its application predominantly in two areas - Passenger Cars and Commercial Vehicles. In passenger cars, this technology is used to provide real-time traffic updates, navigation services, and entertainment options, enhancing the overall driving experience. It also enables safety features like collision avoidance systems and emergency vehicle notifications. In commercial vehicles, wireless communication technology is used for fleet management, vehicle tracking, and cargo monitoring. It helps in improving operational efficiency, reducing fuel consumption, and ensuring the safety of goods and drivers.
Global Wireless Communication Technology for Vehicles Market Outlook:
Looking at the market outlook, in 2023, the Global Wireless Communication Technology for Vehicles Market was valued at a substantial US$ 3534 million. It is projected to almost double, reaching an impressive US$ 6940 million by 2030. This growth represents a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period from 2024 to 2030. The market is dominated by the top five manufacturers, who collectively hold a market share of over 20%. In terms of product types, Dedicated Short-range Communication (DSRC) holds the largest segment with a share of about 60%.
| Report Metric | Details |
| Report Name | Wireless Communication Technology for Vehicles Market |
| Accounted market size in 2023 | US$ 3534 million |
| Forecasted market size in 2030 | US$ 6940 million |
| CAGR | 10.0% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Continental AG, Qualcomm, NXP Semiconductors, Bosch, HUAWEI, Kapsch, Askey, Ficosa, Savari, LACROIX City, Cohda Wireless, Autotalks, Lear(Arada), Commsignia, HARMAN, Danlaw |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
