Connected Vehicle Roadside Unit Market To Reach USD 16,517.9 Million By 2032, Says DataHorizzon Research
A Detailed Analysis Report of the Connected Vehicle Roadside Unit Market.
Fort Collins, Colorado, Nov. 08, 2023 (GLOBE NEWSWIRE) -- *According to DataHorizzon Research, the Connected Vehicle Roadside Unit Market size was valued at USD 535.3 Million in 2022 and is anticipated to be valued at USD 16,517.9 Million by 2032 at a CAGR of 40.8%.*
The increasing technological advancement of smart cities and roadside infrastructure contributes to market growth. According to the World Health Organization, approximately 1.3 million people succumb to road accidents, and nearly 20 to 50 million people suffer from non-fatal injuries in these accidents. A *connected vehicle roadside unit* delivers a safety model for free-flowing traffic with effective communication with the traffic and infrastructure in real time.
The growing adoption of advanced technologies in the automotive sector presents growth opportunities to major market players. The automotive industry is dynamic and transforms with developments in technology. Numerous key players in the industry, such as General Motors, Volkswagen, Mercedes, BMW, and others, invest a significant part of their revenue toward the research and development of technologies. There is a growing trend of connected and autonomous vehicles in the automotive industry, thus attracting larger investments in developing these vehicles. For instance, the U.K. government approved testing autonomous cars on public roads. The Federal Department of Environment, Transport, Energy, and Communications in Switzerland also permitted driverless testing in Zurich.
Additionally, several companies such as Audi and Tesla Motors collaborate with technology developers for better rapid development of autonomous technology in vehicles. For instance, collaboration companies such as Nvidia will assist automobile manufacturers in developing object recognition. Also, auto manufacturers such as Waymo have partnered with Intel Corporation to enhance automobile infotainment systems.
*Request Sample Report:*
*https://datahorizzonresearch.com/request-sample-pdf/connected-vehicle-roadside-unit-market-2543*
*Segmentation Overview:*
The global *connected vehicle roadside unit market* has been segmented into type, application, and region. The traffic monitoring system accounted for the dominant market share and held a revenue share of 55.8% in the connected vehicle roadside unit market in 2022. RSU assists in monitoring vehicle location, identity, and speed. The data helps traffic controllers monitor vehicle collisions, speed violations, and offenders. Asia Pacific is anticipated to exhibit a remarkable CAGR during the forecast period. This can be attributed to the problem of traffic congestion faced by several countries in this region.
*Buy This Research Report:*
*https://datahorizzonresearch.com/checkout-page/connected-vehicle-roadside-unit-market-2543*
*Connected Vehicle Roadside Unit Market Report Highlights:*
· The global connected vehicle roadside unit market growth is anticipated at a CAGR of 40.8% by 2032.
· The growing dependence on IoT and rising digitization in the vehicles is expected to play a vital role in further market developments.
· The market is categorized based on application into electronic toll collection (ETC) systems, traffic monitoring, weather warning systems, and smart cities.
· The wireless (5G & IoT) segment is expected to exhibit the fastest CAGR during the forecast period. 5G technology would help accelerate the realization of advanced V2X communication.
· Some prominent players in the connected vehicle roadside unit market report include Savari, Danlaw Inc., Fluidmesh Networks, LLC., Qualcomm Technologies, Inc., Autotalks, Siemens, Kapsch, NXP Semiconductors, Q-Free ASA, Fayat Group, and Swarco among others.
*Industry Trends and Insights:*
· According to TomTom International, a navigation service provider company’s Traffic Index Ranking 2022, Bengaluru and Pune have the most traffic congestion in India, followed by Sapporo in Japan and Manila in the Philippines within Asian markets.
· VicOne, a leading cybersecurity solutions provider, announced that Askey has implemented the VicOne xZETA, in developing components for connected vehicle devices with a combination of onboard units, roadside units, and cloud-based advanced technologies for smart transportation.
*Looking Exclusively For Region/Country Specific Report?*
*https://datahorizzonresearch.com/ask-for-customization/connected-vehicle-roadside-unit-market-2543*
*OR *
*Ask For Discount *
*https://datahorizzonresearch.com/ask-for-discount/connected-vehicle-roadside-unit-market-2543*
*Connected Vehicle Roadside Unit Market Segmentation:*
· *By Type:* Wireless (5G & IoT), Wireless (4G & IoT)
· *By Application:* Electronic toll collection systems (ETC), traffic monitoring, weather warning systems, smart cities.
· *By Region: *North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
*Contact:*
*Mail:* sales@datahorizzonresearch.com
*Ph:* +1-970-672-0390
*Website:* https://datahorizzonresearch.com/
*Follow Us:* LinkedIn
*Recent Publications*
Automated Guided Vehicle Market 2023 to 2032
Logistics Automation Market 2023 to 2032
Automotive Sunroof Market 2023 to 2032
Drone Taxi Market 2023 to 2032
Luxury Car Market 2023 to 2032CONTACT: Mail: sales@datahorizzonresearch.com
Ph: +1-970-672-0390
Website: https://www.datahorizzonresearch.com