North America 5G in Automotive and Smart Transportation Market Size, Share & Trends Analysis Report By Solution, By Application, By Industry, By Country and Growth Forecast, 2024 - 2031
The North America 5G in Automotive and Smart Transportation Market would witness market growth of 27.6% CAGR during the forecast period (2024-2031).
The US market dominated the North America 5G in Automotive and Smart Transportation Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4,344 million by 2031. The Canada market is experiencing a CAGR of 30.2% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 29.3% during (2024 - 2031).
The automotive and smart transportation sectors have undergone significant transformation over the past few years, fueled by technological innovations, automation, and connectivity innovations. One of the most pivotal advancements that are reshaping the future of these industries is 5G technology.
Additionally, 5G promises to deliver unparalleled speed, low latency, and vast connectivity, which are essential for the evolving needs of modern transportation systems. With the ability to enable real-time communication and data exchange, 5G in automotive and smart transportation can enhance safety, reduce congestion, lower emissions, and deliver more efficient services.
The rise in new vehicle registrations in Canada and the growing autonomous vehicle sector in the United States are key drivers propelling the market's growth. According to Statistics Canada, the second quarter of 2024 saw Canadians register 511,173 new motor vehicles, the highest since before the COVID-19 pandemic and a 7.9% increase from the same period in 2023. Meanwhile, the Insurance Institute for Highway Safety predicts that by 2025, there will be 3.5 million autonomous cars on American roads, and by 2030, there will be 4.5 million. These trends indicate a substantial shift towards more advanced and connected vehicle technologies, where 5G will play a crucial role.
Based on Solution, the market is segmented into Software Solutions, Hardware Components (Telematics Control Units (TCUs), Roadside Units (RSUs), and Onboard Units (OBUs)), and Services (Integration & Installation Services, Consultation Services, and Maintenance & Support Services). Based on Application, the market is segmented into Vehicle-to-Everything, Infotainment & Telematics, and Fleet Management. Based on Industry, the market is segmented into Automotive, Transportation Infrastructure, Warehousing & Logistics, Defense, and Public Safety & Other Industry. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- BMW AG
- Robert Bosch GmbH
- Cisco Systems, Inc.
- Vodafone Group Plc
- Nokia Corporation
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Telefónica S.A.
- Verizon Communications, Inc.
- Toyota Motor Corporation
- Ericsson AB
By Solution
- Software Solutions
- Hardware Components
- Telematics Control Units (TCUs)
- Roadside Units (RSUs)
- Onboard Units (OBUs)
- Services
- Integration & Installation Services
- Consultation Services
- Maintenance & Support Services
- Vehicle-to-Everything
- Infotainment & Telematics
- Fleet Management
- Automotive
- Transportation Infrastructure
- Warehousing & Logistics
- Defense
- Public Safety & Other Industry
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America 5G in Automotive and Smart Transportation Market, by Solution
- 1.4.2 North America 5G in Automotive and Smart Transportation Market, by Application
- 1.4.3 North America 5G in Automotive and Smart Transportation Market, by Industry
- 1.4.4 North America 5G in Automotive and Smart Transportation Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2021, Nov – 2024, Oct) Leading Players
- 4.5 Porter Five Forces Analysis
- Chapter 5. North America 5G in Automotive and Smart Transportation Market by Solution
- 5.1 North America Software Solutions Market by Country
- 5.2 North America Hardware Components Market by Country
- 5.3 North America 5G in Automotive and Smart Transportation Market by Hardware Components Type
- 5.3.1 North America Telematics Control Units (TCUs) Market by Country
- 5.3.2 North America Roadside Units (RSUs) Market by Country
- 5.3.3 North America Onboard Units (OBUs) Market by Country
- 5.4 North America Services Market by Country
- 5.5 North America 5G in Automotive and Smart Transportation Market by Services Type
- 5.5.1 North America Integration & Installation Services Market by Country
- 5.5.2 North America Consultation Services Market by Country
- 5.5.3 North America Maintenance & Support Services Market by Country
- Chapter 6. North America 5G in Automotive and Smart Transportation Market by Application
- 6.1 North America Vehicle-to-Everything Market by Country
- 6.2 North America Infotainment & Telematics Market by Country
- 6.3 North America Fleet Management Market by Country
- Chapter 7. North America 5G in Automotive and Smart Transportation Market by Industry
- 7.1 North America Automotive Market by Country
- 7.2 North America Transportation Infrastructure Market by Country
- 7.3 North America Warehousing & Logistics Market by Country
- 7.4 North America Defense Market by Country
- 7.5 North America Public Safety & Other Industry Market by Country
- Chapter 8. North America 5G in Automotive and Smart Transportation Market by Country
- 8.1 US 5G in Automotive and Smart Transportation Market
- 8.1.1 US 5G in Automotive and Smart Transportation Market by Solution
- 8.1.1.1 US 5G in Automotive and Smart Transportation Market by Hardware Components Type
- 8.1.1.2 US 5G in Automotive and Smart Transportation Market by Services Type
- 8.1.2 US 5G in Automotive and Smart Transportation Market by Application
- 8.1.3 US 5G in Automotive and Smart Transportation Market by Industry
- 8.2 Canada 5G in Automotive and Smart Transportation Market
- 8.2.1 Canada 5G in Automotive and Smart Transportation Market by Solution
- 8.2.1.1 Canada 5G in Automotive and Smart Transportation Market by Hardware Components Type
- 8.2.1.2 Canada 5G in Automotive and Smart Transportation Market by Services Type
- 8.2.2 Canada 5G in Automotive and Smart Transportation Market by Application
- 8.2.3 Canada 5G in Automotive and Smart Transportation Market by Industry
- 8.3 Mexico 5G in Automotive and Smart Transportation Market
- 8.3.1 Mexico 5G in Automotive and Smart Transportation Market by Solution
- 8.3.1.1 Mexico 5G in Automotive and Smart Transportation Market by Hardware Components Type
- 8.3.1.2 Mexico 5G in Automotive and Smart Transportation Market by Services Type
- 8.3.2 Mexico 5G in Automotive and Smart Transportation Market by Application
- 8.3.3 Mexico 5G in Automotive and Smart Transportation Market by Industry
- 8.4 Rest of North America 5G in Automotive and Smart Transportation Market
- 8.4.1 Rest of North America 5G in Automotive and Smart Transportation Market by Solution
- 8.4.1.1 Rest of North America 5G in Automotive and Smart Transportation Market by Hardware Components Type
- 8.4.1.2 Rest of North America 5G in Automotive and Smart Transportation Market by Services Type
- 8.4.2 Rest of North America 5G in Automotive and Smart Transportation Market by Application
- 8.4.3 Rest of North America 5G in Automotive and Smart Transportation Market by Industry
- Chapter 9. Company Profiles
- 9.1 BMW Group
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Partnerships, Collaborations, and Agreements:
- 9.1.6 SWOT Analysis
- 9.2 Robert Bosch GmbH
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expense
- 9.2.5 Recent strategies and developments:
- 9.2.5.1 Partnerships, Collaborations, and Agreements:
- 9.2.6 SWOT Analysis
- 9.3 Cisco Systems, Inc.
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.5.2 Product Launches and Product Expansions:
- 9.3.6 SWOT Analysis
- 9.4 Vodafone Group Plc
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental Analysis
- 9.4.4 Recent strategies and developments:
- 9.4.4.1 Partnerships, Collaborations, and Agreements:
- 9.4.4.2 Product Launches and Product Expansions:
- 9.5 Nokia Corporation
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Acquisition and Mergers:
- 9.5.6 SWOT Analysis
- 9.6 Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Partnerships, Collaborations, and Agreements:
- 9.6.6 SWOT Analysis
- 9.7 Telefonica S.A.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Partnerships, Collaborations, and Agreements:
- 9.8 Verizon Communications, Inc.
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental Analysis
- 9.8.4 Recent strategies and developments:
- 9.8.4.1 Partnerships, Collaborations, and Agreements:
- 9.8.5 SWOT Analysis
- 9.9 Toyota Motor Corporation
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Research & Development Expense
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Partnerships, Collaborations, and Agreements:
- 9.9.6 SWOT Analysis
- 9.10. Ericsson AB
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expense
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Partnerships, Collaborations, and Agreements:
- 9.10.6 SWOT Analysis
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