5G C-V2X module market is experiencing rapid growth, driven by the increasing demand for autonomous and connected vehicles.

These modules enable communication between vehicles (V2V), vehicles and infrastructure (V2I), and vehicles and pedestrians (V2P), enhancing safety, efficiency, and traffic management.

• The market is predicted to reach a staggering US$ 1774.2 million by 2029, surging from US$ 115.8 million in 2022 at a remarkable CAGR of 45.3% over the next seven years.

Key Players:

• Leading the charge are prominent companies like Quectel, Meig Smart Technology, Fibocom, Neoway Technology, Gosuncn, Huawei, and Rolling Wireless.

Drivers and Opportunities:

• The primary drivers propelling this market include:
  • Rising demand for autonomous and connected vehicles: Advanced driver-assistance systems (ADAS) and autonomous driving rely heavily on V2X communication for critical data exchange.
  • Government regulations and initiatives: Several countries are actively mandating or incentivizing the adoption of C-V2X technology in vehicles.
  • Focus on traffic safety and efficiency: V2X communication promises to significantly reduce accidents, optimize traffic flow, and improve fuel consumption.
  • Expanding 5G infrastructure: Wider 5G availability fosters faster and more reliable data transmission for V2X applications.
• Beyond traditional traffic management, emerging opportunities lie in integrating V2X with diverse applications like platooning, parking management, and electric vehicle charging optimization.
• Advancements in sensors like LiDAR and radar have the potential to further enhance the accuracy and effectiveness of V2X communication.
• Growing markets in Asia Pacific and other regions present exciting prospects for market expansion.

Segmentation by Type:

• 3GPP Rel-15 Technology: Supports basic V2X communication functionalities.
• 3GPP Rel-16 Technology: Offers enhanced features like higher bandwidth and lower latency.

Segmentation by Application:

• Vehicle to Vehicle (V2V): Enables vehicles to share information about speed, location, and other critical data to enhance safety and coordination.
• Vehicle to Infrastructure (V2I): Allows vehicles to communicate with infrastructure like traffic lights, road signs, and smart intersections for improved traffic flow management.
• Vehicle to Pedestrian (V2P): Provides warnings and alerts to both vehicles and pedestrians, enhancing safety on the roads.
• Other: Additional applications like platooning and dynamic lane merging are being explored.

Segmented by Region:

• North America: Early adopter with rapid 5G deployment and strong government support for autonomous vehicles.
• Europe: Significant investments in smart mobility initiatives and growing focus on road safety.
• Asia Pacific: Fastest-growing market with rising vehicle production and government push for connected vehicles.
• South America, Middle East & Africa: Emerging markets with potential for future growth.

Overall, The 5G C-V2X module market is poised for exponential growth, driven by technological advancements, regulatory support, and a strong focus on improving road safety and traffic efficiency. This innovative technology holds immense potential to revolutionize the transportation landscape, paving the way for a safer, smarter, and more connected future.