Fleet Management and 5G-Integrated Smart Vehicles

Some analysts predict that over the next ten years, the use of 5G wireless built into smart transportation will increase by 26% yearly. Advanced Drive-Assistance Systems (ADAS) will offer features like fuel tracking, real-time communication and navigation, in-vehicle entertainment, speed and cruise control, and improved fleet management thanks to low-latency 5G technology.

Fremont, CA: Despite the current worldwide downturn in vehicle sales caused by COVID-19, some analysts predict that over the next ten years, the use of 5G wireless built into smart transportation will increase by 26% yearly.

Advanced Drive-Assistance Systems (ADAS) will offer features like fuel tracking, real-time communication and navigation, in-vehicle entertainment, speed and cruise control, and improved fleet management thanks to low-latency 5G technology.

Additionally, cellular service providers are developing vehicle-to-everything (V2X) connections for increased traffic safety. The amount of accidents, which result in 1 million fatalities worldwide each year, is predicted to decrease with ADAS and increased levels of vehicle automation. According to transportation experts, 90% of fatal road accidents in the US are attributed to human error.

According to MI, by the end of 2030, 5G will be worth $9.5 billion globally in intelligent mobility. On-board units, which power multiple apps, will make up most of the market's share for hardware inside cars. Due to substantial demand in the commercial transport and innovative vehicle industries, fleet management applications will represent the largest sub-segment.

Additionally, it is anticipated that V2X will expand at a rate of roughly 30% per year as more highway regulators collaborate with automakers and service companies to link devices. Due to the service providers' presence in the United States and its proximity to vehicle manufacturers, FMI predicted North America would be the area with the largest market.

The COVID-19 epidemic may cause variations in the market's growth, although prospects for sustained growth are anticipated to persist. The researchers point out that in early 2020, East Asian governments imposed a national lockdown due to virus worries and that, as a result, vehicle production "came to a screeching halt," and auto sales declined. The automakers reported a 30% to 38% decline in sales in the United States.

After the second billing in East Asia, the declining trend in vehicle sales in the first and second quarters started to turn around, indicating that the market is still experiencing solid growth.

According to FMI, several businesses in the 5G innovative vehicle industry still concentrate on R&D to discover fleet management and real-time communications solutions. Both 5G and Wi-Fi 6 will be necessary.