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5G Automotive Grade Product Market Trends

  • Report ID: GMI11258
  • Published Date: Sep 2024
  • Report Format: PDF

5G Automotive Grade Product Market Trends

A major trend in the 5G automotive grade product industry is the integration of 5G technology into advanced driver assistance systems (ADAS) and autonomous vehicles. As vehicles become more connected and autonomous, the need for high-speed, low-latency communication grows. 5G technology supports real-time data exchange between vehicles, infrastructure, and other entities, enhancing safety and enabling features like adaptive cruise control, lane-keeping assistance, and automated parking. This trend reflects the shift towards more sophisticated and intelligent transportation systems, driven by consumer demand for enhanced safety and convenience. Additionally, the convergence of 5G with artificial intelligence and machine learning is accelerating advancements in autonomous driving technologies, paving the way for more autonomous and connected vehicles on the road.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of 5G automotive grade product was worth over USD 2.1 billion in 2023 and is estimated to register over 19% CAGR between 2024 and 2032, driven by the growing demand for connected and autonomous vehicles.

The passenger vehicle segment of 5G automotive grade industry held around 67% revenue share in 2023 and will grow rapidly through 2032, due to their booming sales and high consumer demand for advanced connectivity features.

Asia Pacific 5G automotive grade product market held a revenue share of around 37% in 2023 and will expand rapidly through 2032, due to its rapid adoption of 5G technology.

Qualcomm Incorporated, Huawei Technologies Co., Ltd, Samsung Electronics Co., Ltd, Nokia Corporation, Telefonaktiebolaget LM Ericsson among others.

5G Automotive Grade Product Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 295
  • Countries covered: 26
  • Pages: 190
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