The vehicle-to-everything (V2X) cybersecurity market is experiencing exponential growth, with market size increasing from $1.62 billion in 2023 to $1.99 billion in 2024, marking a CAGR of 23.1%. This growth can be attributed to high-profile cyber threats, regulatory compliance, and the rapid expansion of connected vehicles. By 2028, the market is expected to reach $4.59 billion, with a CAGR of 23.2%. Factors driving this growth include a rising demand for user authentication, collaboration across industries, and the exploration of blockchain for secure V2X communication. Key trends include advancements in V2X technology, enhanced cryptography, and the integration of 5G technology for improved security.
Major Driver In The Vehicle To Everything V2X Cybersecurity Market
The surging demand for connected vehicles is anticipated to spur growth in the vehicle-to-everything (V2X) cybersecurity market. Connected vehicles, which are equipped with internet connectivity and sensors, facilitate communication with other devices and infrastructure to enhance road safety and efficiency. This growth is driven by technological advancements, consumer demand for smart features, and expanded infrastructure. V2X cybersecurity is essential for safeguarding data exchanges between connected vehicles and infrastructure against cyber threats. For instance, the Australian Computer Society reported in August 2021 that connected cars in Australia are expected to grow from about 1 million to 10 million by 2030. Thus, the rising demand for connected vehicles is propelling the V2X cybersecurity market.
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Vehicle To Everything V2X Cybersecurity Market Competitive Landscape
Robert Bosch GmbH, Qualcomm Technologies Inc., Continental AG, Aptiv PLC, Infineon Technologies AG, NXP Semiconductors, Harman International Industries Inc., Kapsch TrafficCom AG, ETAS, Vector Informatik GmbH, Danlaw Inc., Green Hills Software, Commsignia, Argus Cyber Security Ltd., AUTOCRYPT Co. Ltd., Autotalks, ID Quantique, Karamba Security, Upstream Security Ltd., HAAS Alert, RunSafe Security
Key Vehicle To Everything V2X Cybersecurity Market Trend
Companies in the vehicle-to-everything (V2X) cybersecurity market are enhancing security with advanced Vehicle Secure Communication Management Systems (VSCMS). In January 2022, AUTOCRYPT launched AutoCrypt SCMS Version 5.0, an upgraded system ensuring secure V2X communication. This solution utilizes advanced encryption to safeguard data, critical for autonomous vehicles and smart transportation systems.
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Vehicle To Everything V2X Cybersecurity Market Segmentation
The vehicle-to-everything (V2X) cybersecurity market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Security Type: Network Security, Cloud Security, Application Security, Other Security Types
3) By Unit: On-Board Units, Roadside Units
4) By Communication: Vehicle To Vehicle, Vehicle To Infrastructure, Vehicle To Pedestrian, Vehicle To Grid, Vehicle To Cloud, Other Communications
5) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
By Geography:The regions covered in the vehicle-to-everything (V2X) cybersecurity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the vehicle-to-everything (V2X) cybersecurity market in 2023.
The Vehicle To Everything V2X Cybersecurity Global Market Report 2024 furnishes information about the global vehicle to everything v2x cybersecurity market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
