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Cooperative Vehicle Infrastructure System Market Overview
The global cooperative vehicle infrastructure system (CVIS) market is an offshoot of the connected and autonomous vehicle market, and is expected to witness considerable growth during the forecast period (2020–2030), on account of technology transition and increasing demand for safety and comfort of commuters. With growing trend of CVIS and connected vehicles has led to the interesting rivalry between primitive original equipment manufacturers (OEMs) and new-age technology giants, like Google and Facebook, to grab market share. In the coming years, the vehicles will be integrated with smartphones installed with wheels, which would remain updated about everything on the way.
The cooperative vehicle infrastructure system market on the basis of service provider is classified into OEM and third-party service providers. This is fragmented upon the basis of connection hardware and solutions provided. The data collected through internet of things (IoT) is analyzed and used to take intelligent decisions upon business and policy making.
The cooperative vehicle infrastructure system market in terms of communication is categorized into vehicle-to-infrastructure (V2I) and vehicle-to-everything (V2X). The vehicle-to-infrastructure (V2V) technology was the largest category in the market during the historical period. This is majorly due to various government regulations and the demand for enhanced safety of vehicles equipped with communication systems. As per the analysis, the vehicle-to-infrastructure (V2X) is projected to grow faster during the forecast period, owning to increase in realization of shortfalls of V2I communications and upcoming requirement of infrastructure for V2X in many countries.
Geographically, Europe held the largest market share in 2019; however, APAC is projected to have the fastest growth in forecast period, due to the increase in penetration of technology as a result of fast economic growth.
Cooperative Vehicle Infrastructure System Market Dynamics
The growing trend and technology transition toward connected and autonomous vehicles drive the cooperative vehicle infrastructure system market. The economic growth and increase in purchasing power of the consumers have led to consciousness toward safe and efficient driving. With big data and automation ruling the era, and increasing adoption of artificial intelligence (AI) and IoT, the reliance on such services would further increase in future, to cater the challenges of road safety and better strategic management.
The concerns of pedestrian safety and growing number of accidents and fatalities on road have pushed governments and manufacturers to increasingly focus on vehicle safety. The CVIS caters to such challenges categorically in less-developed economies of the world, where road density is lower and inversely proportional to fatalities and accidents. Advancement in communication technologies and lowering in hardware equipment across the globe is another push factor that would drive the growth of the cooperative vehicle infrastructure system market.
Cooperative Vehicle Infrastructure System Market Competitive Landscape
Some of the major players operating in the global cooperative vehicle infrastructure system market are Aptiv PLC, Qualcomm Technologies Inc., Denso Corporation, Beijing Wanji Technology Co. Ltd., Telit, Kapsch, Nébula Financiera, S.A., and Sierra Wireless, among others. These companies are increasingly focusing on collaborations, product launches and partnership with communication technology companies and automotive OEMs, to enhance their services and widen their market share.
The report includes country-wise analysis of the cooperative vehicle infrastructure system market. The major countries covered in the report are the U.S., Canada, the U.K., Germany, France, China, India, Japan, South Korea, Australia, Brazil, Mexico, and the U.A.E.
Cooperative Vehicle Infrastructure System Market Size Breakdown by Segment
Based on Service Provider
Based on Communication