Vehicle-Road Coordination Technology Market size is estimated to be USD 5.2 Billion in 2024 and is expected to reach USD 14.5 Billion by 2033 at a CAGR of 12.5% from 2026 to 2033.
South Korea is rapidly advancing its Vehicle-Road Coordination Technology Market, aiming to revolutionize transportation safety and efficiency. By 2030, the nation plans to equip all road infrastructure with Cooperative Intelligent Transport Systems (C-ITS), enhancing communication between vehicles and infrastructure. citeturn0search0 The government has selected Cellular Vehicle-to-Everything (C-V2X) over Wi-Fi-based systems for its C-ITS, utilizing LTE-V2X to facilitate real-time data exchange between vehicles and road infrastructure. citeturn0search2 This decision is expected to boost infrastructure investment and product development in the sector. In support of autonomous driving, South Korea has established seven dedicated pilot zones for real-world testing, including areas in Seoul and Pangyo. The country has also invested approximately USD 2.8 billion in developing cooperative transport systems and precision maps. citeturn0search4 Standardization efforts are underway, with South Korea's Traffic Light Signal Message (TLSM) standard being adopted in the U.S. SAE J2735 standard. This international recognition underscores the country's commitment to global collaboration in autonomous vehicle technologies. citeturn0search1 The Vehicle-Road Coordination Technology Market is segmented into Vehicle-to-Infrastructure (V2I), Vehicle-to-Vehicle (V2V), and Vehicle-to-Pedestrian (V2P) communications. In 2023, V2I led the market with a valuation of $3.12 billion, followed by V2V at $1.78 billion and V2P at $1.42 billion. citeturn0search6 Industry requirements are driving demand for advanced driver assistance systems (ADAS), with South Korea's ADAS market projected to grow from USD 885.3 million in 2023 to USD 2,062.8 million by 2030. citeturn0search8 The autonomous vehicle market is also expected to expand significantly, reaching USD 9,278.0 million by 2030. citeturn0search9 As a participant in this evolving landscape, I have observed the integration of these technologies enhancing road safety and paving the way for fully autonomous vehicles. The synergy between government initiatives and industry innovation positions South Korea as a leader in the Vehicle-Road Coordination Technology Market.
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Alibaba group
Tencent
Baidu
CMCC
GENVICT
HUIZHOU DESAY SV AUTOMOTIVE CO.
LTD
Huawei
Joyson
China TransInfo Technology
VANJEE
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Vehicle-Road Coordination Technology Market
V2V (Vehicle-to-Vehicle)
V2I (Vehicle-to-Infrastructure)
V2P (Vehicle-to-Pedestrian)
V2N (Vehicle-to-Network)
V2D (Vehicle-to-Device)
Traffic Management
Emergency Vehicle Notification
Automated Toll Collection
Parking Assistance
Fleet Management
Automotive
Public Transportation
Logistics and Freight
Government and Municipalities
Smart City Developments
On-Premise
Cloud-Based
Hybrid
DSRC (Dedicated Short-Range Communications)
C-V2X (Cellular Vehicle-to-Everything)
Wi-Fi
5G Networks
Satellite Communication
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Vehicle-Road Coordination Technology Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Vehicle-Road Coordination Technology Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Vehicle-Road Coordination Technology Market, By Type
6. South Korea Vehicle-Road Coordination Technology Market, By Application
7. South Korea Vehicle-Road Coordination Technology Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Vehicle-Road Coordination Technology Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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