Vehicle-to-Infrastructure (V2I) Communication Market by Componenet (Hardware, Software and Services), Hardware Segment hold the 38% market share of Vehicle-to-Infrastructure (V2I) Communication Market.
Industry: IT and Telecommunication
Published Date: February-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 216
Report ID: PMRREP24016
The market for vehicle-to-infrastructure (V2I) communication was valued at US$ 230.3 Mn in 2022, and by the end of 2033, it is expected to have grown to US$ 7,280.8 Mn. The market for vehicle-to-infrastructure (V2I) communication is estimated to valuate to US$ 311.8 Mn in 2023, and is predicted to grow at a CAGR of 37% from 2023 to 2033.
Vehicle-to-Infrastructure (V2I) Communication is a technology that enables vehicles to communicate and exchange data with the surrounding infrastructure, such as traffic signals, road signs, and other vehicles. The aim of V2I communication is to enhance road safety, reduce traffic congestion, improve environmental sustainability, and enhance the overall driving experience
In V2I communication, vehicles equipped with sensors and communication devices, such as on-board computers and dedicated short-range communications (DSRC) modules, send and receive information about their surroundings and road conditions to and from the infrastructure. This information can be used to make real-time adjustments to traffic flow, enhance road safety, and provide drivers with relevant information and alerts.
There are several factors that are significantly contributing to the growth of the vehicle-to-infrastructure (V2I) communication market such as growing traffic congestion in cities has made it necessary to implement smart transportation systems, which includes V2I communication, government regulations & policies towards encouraging the implementation of V2I communication systems by mandating their utilization and so on.
Vehicle- to-infrastructure communication market is 35% of the global automotive V2X market.
As per the regional market outlook North American region held a leading market share of 28.4% in the global vehicle-to-infrastructure (V2I) communication market in 2022. Whereas the demand for vehicle-to-infrastructure (V2I) communication in the Europe region is analyzed to hold the market share of around 23.1% of the market in 2023.
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Vehicle-to-Infrastructure (V2I) communication Market Size (2023) |
US$ 311.8 Mn |
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Projected Market Value (2033) |
US$ 7,280.8Mn |
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Global Market Growth Rate (2023-2033) |
37% |
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Hardware Segment Market Share (2022) |
38.7% |
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India Market Growth Rate (2022) |
41.1% |
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Bluetooth Segment Market Share (2022) |
28.1% |
“High implementation cost along with the lack of V2I-enabled infrastructure are some of the major impediments to the market growth”
High cost of Implementing V2I technology along with the lack of standardization in V2I technology, lack of V2I-enabled infrastructure are some of the major barrier to widespread adoption of the Vehicle-to-Infrastructure (V2I) communication technology.
Additionally, there are concerns about the privacy & security of sensitive information that may be transmitted through V2I systems and slow pace of regulatory approval are the significant attributes that are hindering their adoption.
“Increasing Adoption of Advanced Driver Assistance & Safety Technologies”
Rising adoption of advanced driver assistance & safety technologies in the automotive sector along with the growing demands for enhance mobility for disabled individuals & those who cannot drive and so on. These factors are providing lucrative opportunity for the adoption of vehicle-to-infrastructure (V2I) communication system in the US region contributing to its significant share of 22.1% in 2022.
“Rising Governmental Initiatives towards the Adoption of Driver Safety Systems”
Increased governmental support towards the adoption of driver safety systems like funding & regulatory incentives, are significantly contributing to the widespread adoption of V2I technology. Additionally, increasing adoption of environment friendly technologies are also boosting the adoption of V2I communication technology since V2I can help reduce emissions by reducing congestion & improving vehicle efficiency.
Such factors are majorly contributing to usher the growth of the vehicle-to-infrastructure (V2I) communication market at a CAGR of 41.1% over the forecast period in India.
“Rising demands for fuel-efficient vehicle control systems”
Rising collaboration between automotive manufacturers, technology companies and transportation agencies are accelerating the development & implementation of V2I technology. Additionally, V2I helps in improving vehicle efficiency by providing real-time information on traffic conditions, fuel-efficient routes & parking availability and helps in managing & optimizing traffic flow, reducing congestion & improving travel time.
Such factors are expected to accelerate the adoption of vehicle-to-infrastructure (V2I) communication systems in the France.
Why Hardware Segment Hold the major Market Share in the vehicle-to-infrastructure (V2I) communication market?
Hardware component like the on-board unit (OBU) or the roadside unit (RSU), is a critical component in V2I communication as it enables the exchange of information between vehicles and infrastructure. OBUs are typically installed in vehicles and RSUs are installed along roadsides or on infrastructure.
Currently, the market for hardware components in V2I technology is growing as more and more vehicles are equipped with advanced driver-assistance systems (ADAS) and connected features that require V2I communication.
These factors are influencing the major share of 38.7% hardware segment in the vehicle-to-infrastructure (V2I) communication market.
Why Vehicle-to-Infrastructure (V2I) Communication equipped with Bluetooth technology holds the significant position in 2021?
Various factors that are analysed to be the major contributors to the widespread adoption of Bluetooth equipped vehicle-to-infrastructure (V2I) communication technology are Bluetooth technology is widely available & low-cost, making it an attractive solution for V2I communication along with that Bluetooth technology is widely adopted in many devices, making it a well-established & reliable technology for V2I communication.
The market share of government & defence sector in the vehicle-to-infrastructure (V2I) communication market is analysed to be 28.1% in 2022.
Various companies are investing heavily in research and development to improve the efficiency & effectiveness of V2I technology. The market is still in its early stages and is expected to grow significantly in the coming years, attracting new players and intensifying competition.
Recent developments related to key players providing vehicle-to-infrastructure (V2I) communication market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
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Attribute |
Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Component:
By Application:
By Region:
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In 2023, the market value of vehicle-to-infrastructure (V2I) communication was US$ 311.8 Mn.
The global vehicle-to-infrastructure (V2I) communication market is estimated to advance at a 37% CAGR through 2033.
The market for vehicle-to-infrastructure (V2I) communication is forecasted to climb to US$ 7,280.8 Mn by 2033 end.
Demand for vehicle-to-infrastructure (V2I) communication market in India is projected to rise at a CAGR of 41.1% over the forecast period.
In 2022, the North America vehicle-to-infrastructure (V2I) communication market held a dominant market share of 28.4%.
