DSRC Technology Market reached US$ 1.4 billion in 2022 and is expected to reach US$ 16.9 billion by 2030, growing with a CAGR of 36.2% during the forecast period 2023-2030.
Dedicated Short-Range Communications (DSRC) technology is a key enabler of vehicle-to-everything (V2X) communications, which include vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-pedestrian (V2P) communication. DSRC operates in the 5.9 GHz frequency band and is designed for secure, high-speed, low-latency communication, making it ideal for automotive safety applications. The market for DSRC technology is driven by the growing focus on improving road safety, reducing traffic congestion, and enabling autonomous and connected vehicle ecosystems.
Key Trends
- Growing Focus on Vehicle Safety: As global road safety concerns rise, there is increasing interest in technologies like DSRC that enable real-time communication between vehicles and their surroundings. DSRC’s ability to provide critical information about road conditions, traffic signals, and other vehicles helps prevent accidents and enhance overall road safety.
- Support for Autonomous Vehicles: DSRC is seen as a crucial technology for the development of autonomous vehicles (AVs). By enabling vehicles to communicate with each other and with infrastructure, DSRC helps AVs navigate more safely and efficiently, particularly in complex urban environments.
- Development of Smart Transportation Systems: DSRC is an integral part of smart transportation systems, which aim to improve traffic management, reduce congestion, and enhance the efficiency of transportation networks. As cities invest in smart infrastructure, the demand for DSRC technology is expected to increase.
- Collaboration Between Automotive and Telecom Industries: The automotive and telecommunications industries are increasingly collaborating to develop and deploy DSRC-based solutions. These partnerships are essential for creating a seamless connected vehicle ecosystem that integrates DSRC with other communication technologies like 5G.
- Regulatory Support and Standardization: Governments and regulatory bodies in various regions are supporting the deployment of DSRC technology through policies and standardization efforts. For example, the U.S. Federal Communications Commission (FCC) and the European Union have been involved in allocating spectrum for DSRC and establishing standards for its use in V2X communication.
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Market Segmentations:
Global DSRC Technology Market: By Company
- Kapsch Group
- Cohda Wireless Pty Ltd
- Savari, Inc.
- Arada Systems
- Q-free ASA
- Qualcomm Technologies, Inc.
- Oki Electric Industry Co. Ltd
- Norbit Group AS
- Continental AG
- Autotalks Ltd
Global DSRC Technology Market: By Type
- Active DSRC
- Passive DSRC
Global DSRC Technology Market: By Application
- Passenger Vehicles
- Commercial Vehicles
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Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global DSRC Technology market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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