Global 5G in Automotive & Smart Transportation Market: Introduction
5G in automotive & smart transportation is integration of 5G communication technology within automobile and public transportation. 5G in automotive & smart transportation has enabled automobile manufacturers to provide advance features such as fuel tracking, Advanced Driver-Assistance Systems (ADAS), real-time navigation and communication, in-vehicle infotainment systems, speed and cruise control, and improved fleet management. Furthermore, it has enabled service providers to enhance vehicle-to-everything (V2X) communication solutions to improve safety within vehicles.
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Global 5G in Automotive & Smart Transportation Market – Dynamics
Increase in Demand for Advance Technology Integration in Automobiles Industry
Rise in demand for electric vehicles and smart vehicles, specifically in North America and Europe, has fueled the demand for the advance technology integration such as voice assistant and ADAS. For instance, in January 2020, Amazon Inc. announced partnerships with Lamborghini and Rivian, new auto-specific skills for its Alexa voice assistant. Increase in demand for NextGen technology in automobiles is boosting the 5G in automotive & smart transportation market.
Lack Awareness about Technology Integration and Communication Infrastructure hampers 5G in Automotive & Smart Transportation Market
Lack of communication infrastructure in countries such as Brazil, India, ASEAN, and Africa. Incompatible network infrastructure impacts the demand for 5G in automotive & smart transportation, as these services depend highly on strong communication service. With poor network infrastructure, the output with the 5G services can’t be optimum in nature. On the other hand, domestic manufacturers of automobiles also resist new technology adoption within these countries majorly due to increased overall price of the vehicle, which is used in transportation service.
North America to Dominate Global 5G in Automotive & Smart Transportation Market
In terms of region, the global 5G in automotive & smart transportation market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the 5G in automotive & smart transportation market during the forecast period due to strong adoption of communication technology within the automobile and transportation industries.
COVID-19 Impact on Global 5G in Automotive & Smart Transportation Market
The COVID-19 pandemic is expected to moderately impact the global 5G in automotive & smart transportation market. Automobile manufacturing and production industries are highly skeptical about the new investment specific to technological advancements within the industries. Nationwide lockdowns imposed in several countries have directly impacted the automobile industry, which is also a major reason behind such skeptical investment.
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Global 5G in Automotive & Smart Transportation Market – Competition Landscape
- In February 2020, Ericsson and Audi came together in a partnership, which would be primary focused on 5G-powered automation application on its car manufacturing process. The company is expected to test the possibility of 5G technology for industrial applications in the smart factory in the Audi Production Lab.
Founded in 1876, headquartered in Stockholm, Sweden, Ericsson is a leading provider of information and communication technology (ICT) services. The company’s portfolio includes networks, digital services, managed services and emerging business; powered by 5G and IoT platforms.
Global 5G in Automotive & Smart Transportation Market: Segmentation
The global 5G in automotive & smart transportation market can be segmented based on:
Global 5G in Automotive & Smart Transportation Market, by Component
Based on component, the global 5G in automotive & smart transportation market can be divided into:
Global 5G in Automotive & Smart Transportation Market, by End-user
In terms of end-user, the global 5G in automotive & smart transportation market can be segregated into:
Regional analysis of the global 5G in automotive & smart transportation market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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- 5G-powered automation
- Automobile Communication
- Connected Cars
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.