The transformative potential of IVN in the automotive industry is being realized through the enablement of real-time data exchange between vehicles and infrastructure. This study examines recent IVN advancements while addressing persistent challenges in technology integration and security. Key communication protocols including V2V, V2I, and V2X are analyzed as foundational elements for advanced traffic management, enhanced safety systems, and innovative transport applications. The capabilities enabled by IVN are explored, encompassing improved situational awareness for autonomous driving, personalized infotainment, and predictive maintenance. Despite these advancements, widespread IVN adoption is impeded by cost considerations, lack of standardization, privacy concerns, and connectivity reliability issues. As IVN transmission capacities are expanded through 5G technology integration, securing safety-critical data against interference and falsification is identified as a paramount concern. Additionally, the challenge of overcoming proprietary data silos is highlighted, with the integration of insights from diverse sources recognized as crucial for maximizing IVN’s collective intelligence. This multidisciplinary analysis maps IVN’s expanding attack surface while proposing policies and design strategies to guide its development. By addressing these interconnected challenges, this research aims to contribute to the responsible advancement of connected vehicle technologies, ensuring a balance between innovation, security, and public interest, thereby providing a roadmap for navigating the complexities of IVN implementation in the rapidly evolving landscape of connected vehicles.