The development of technologies such as internet of things (IoT) and artificial intelligence (AI) have had a positive impact on the automotive industry, just like many other industries. These technologies are increasingly being utilized in vehicles to make them safer and more efficient in order to provide consumers with enhanced driving experience. In addition to this, the focus on development of autonomous cars has increased significantly as well. Because of strong economic growth and increasing disposable income of people, the demand for autonomous vehicles is predicted to increase considerably in the near future.
Ascribed to these factors, the global cooperative vehicle infrastructure system market is expected to grow at a substantial pace in the years to come. CVIS is provides by original equipment manufacturers (OEM) and third-party service providers. This is divided on the basis of solutions and connection hardware that are provided. The data collected via IoT is analyzed and is utilized for taking intelligent decisions regarding policy making and business. In terms of communication, the CVIS is divided into vehicle-to-everything (V2X) and vehicle-to-infrastructure (V2I), between which, the demand for V2I was higher in the past.
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Hence, the demand for CVIS is growing due to technological advancements, development of IoT and AI, rising penetration of autonomous and connected cars, and increasing focus on enhancing the safety of drivers and pedestrians.
This study covers
· Historical and the present size of the cooperative vehicle infrastructure system market
· Future potential of the market through its forecast for the period 2020-2030
· Major factors driving the market and their impact during the short, medium, and long terms
· Market restraints and their impact during the short, medium, and long terms
· Recent trends and evolving opportunities for the market participants
· Historical and the present size of the market segments and understand their comparative future potential
· Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
