The Latin America, Middle East and Africa 5G in Automotive and Smart Transportation Market would witness market growth of 30.3% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA 5G in Automotive and Smart Transportation Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $326.8 million by 2031. The Argentina market is showcasing a CAGR of 32% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 29.2% during (2024 - 2031).
5G is also pivotal in transforming urban mobility through smart traffic management systems. With cities growing rapidly, traffic congestion has become a major concern. Traditional traffic management systems often cannot respond to real-time traffic flow changes. 5G enables traffic signals to adjust dynamically based on the current traffic conditions, optimizing the flow of vehicles and reducing congestion.
Additionally, 5G allows cities to implement intelligent parking solutions, where drivers can find available parking spaces in real time. This can significantly reduce the amount of time spent searching for parking, which in turn reduces carbon emissions and saves fuel.
The UAE government’s push for digital transformation, including AI, IoT, and data analytics in urban infrastructure, aligns with the requirements of 5G networks. These technologies enable real-time traffic management, autonomous vehicles, and seamless communication between vehicles, infrastructure, and pedestrians. As the UAE works to become a leader in artificial intelligence by 2031, the rapid rollout of 5G technology will continue to promote breakthroughs in smart mobility, autonomous driving, and linked transportation networks, benefiting the automotive and smart transportation industries.
Free Valuable Insights: The Worldwide 5G in Automotive and Smart Transportation Market is Projected to reach USD 17.4 Billion by 2031, at a CAGR of 28.3%
Based on Solution, the market is segmented into Software Solutions, Hardware Components (Telematics Control Units (TCUs), Roadside Units (RSUs), and Onboard Units (OBUs)), and Services (Integration & Installation Services, Consultation Services, and Maintenance & Support Services). Based on Application, the market is segmented into Vehicle-to-Everything, Infotainment & Telematics, and Fleet Management. Based on Industry, the market is segmented into Automotive, Transportation Infrastructure, Warehousing & Logistics, Defense, and Public Safety & Other Industry. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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