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5G Automotive Grade Product Market by Component (5G Modules and Chipsets, Telematics Control Units (TCUs), Antennae & Sensors, Infotainment Systems, Autonomous Driving Hardware), by Vehicle (Passenger Vehicles, Commercial Vehicles, Autonomous Vehicles), by Connectivity (Embedded 5G Systems, Tethered Systems, Integrated 5G Networks), by Application (Vehicle-to-Everything (V2X) Communication, Infotainment and Digital Services, Telematics and Fleet Management, Safety and Driver Assistance, Autonomous Driving), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Spain, Poland, Benelux, Rest of Europe), by Asia Pacific (China, India, Japan, Australia, South Korea, Southeast Asia, Rest of Asia Pacific), by Latin America (Brazil, Colombia, Argentina, Chile, Rest of Latin America), by MEA (UAE, Saudi Arabia, South Africa, Rest of MEA) Forecast 2025-2033
The size of the 5G Automotive Grade Product Market was valued at USD 2.1 Billion in 2023 and is projected to reach USD 7.10 Billion by 2032, with an expected CAGR of 19% during the forecast period. The 5G Automotive Grade Product Market prioritizes the creation and incorporation of automotive-grade parts and systems that allow vehicles to utilize 5G connectivity to improve communication, safety, and performance. These products consist of 5G modules, chips, antennas, and communication units that are engineered to satisfy the demanding standards necessary for the automotive sector. The market is fueled by the rising need for connected cars, self-driving features, and advanced driver-assistance systems (ADAS), all of which necessitate rapid, low-latency communication for immediate data transmission. The arrival of 5G technology enables vehicles to communicate effortlessly with one another (V2V), infrastructure (V2I), and the cloud (V2X), leading to better traffic management, increased safety measures, and more effective driving experiences. The 5G Automotive Grade Product Market is gaining from the increase in electric vehicles (EVs) and the expanding acceptance of smart cities, as vehicles become more connected to extensive networks to enhance mobility. With the rapid expansion of 5G networks worldwide, the market is poised for significant growth, allowing automakers to introduce the next wave of connected, smart, and self-driving vehicles.
The market exhibits moderate concentration, with leading players holding significant market share. Innovation is a key driver, with companies investing heavily in research and development to enhance product offerings. Regulatory frameworks promote safety and interoperability standards. End user concentration in the automotive industry influences market demand. M&A activity is expected to consolidate the market, fostering collaboration and reducing competition.
The market is estimated to reach a significant value of 5.2 Billion by 2027. Qualcomm maintains its dominance, followed by Huawei and Samsung. The passenger vehicle segment is expected to fuel market expansion, while autonomous driving applications present substantial opportunities.
North America is the largest market region, followed by Europe and Asia Pacific. Growing demand for connected and autonomous vehicles in China and Japan is propelling growth in Asia Pacific.
Component:
Vehicle:
Connectivity:
Application:
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 19% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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