Market Size –
The vehicle-to-everything (V2X) cybersecurity market size has grown exponentially in recent years. It will grow from $1.62 billion in 2023 to $1.99 billion in 2024 at a compound annual growth rate (CAGR) of 23.1%. The growth in the historic period can be attributed to high-profile cyber-attacks, cybersecurity regulations, and standards, rapid growth in connected vehicles, the emergence of v2x communication standards, and automotive industry digitization.
The vehicle-to-everything (V2X) cybersecurity market size is expected to see exponential growth in the next few years. It will grow to $4.59 billion in 2028 at a compound annual growth rate (CAGR) of 23.2%. The growth in the forecast period can be attributed to demand for user authentication, a collaboration between automotive, technology, and cybersecurity sectors, exploration of blockchain for secure and tamper-resistant v2x data transmission, integration of Internet of things (IoT) devices with v2x systems and growth in electric and autonomous vehicles. Major trends in the forecast period include technological advancements in the v2x ecosystem, advancements in cryptography, integration of 5g technology, development of advanced encryption and authentication methods to secure v2x communications, and implementation of secure over-the-air (OTA) updates.
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Scope Of Vehicle-To-Everything (V2X) Cybersecurity Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Vehicle-To-Everything (V2X) Cybersecurity Market Overview
Market Drivers –
The rise in demand for connected vehicles is expected to propel the growth of the vehicle-to-everything (V2X) cybersecurity market going forward. Connected vehicles refer to automobiles equipped with internet connectivity and onboard sensors that enable them to communicate with other devices, infrastructure, and networks, enhancing safety, convenience, and efficiency on the road. The number of connected vehicles is rising due to advancements in technology, increased consumer demand for smart features, enhanced safety and efficiency benefits, and the expansion of infrastructure supporting connected car capabilities. V2X cybersecurity protects data exchanges between connected vehicles and infrastructure, ensuring safe, secure communication and preventing cyber threats. For instance, in August 2021, according to the Australian Computer Society, an Australia-based professional association, there were around a million connected cars in Australia, which is projected to rise to 10 million by 2030. Therefore, the rising demand for connected vehicles is driving the growth of the automotive digital services market. Therefore, the rise in demand for connected vehicles is driving growth in the vehicle-to-everything (V2X) cybersecurity market.
Market Trends –
Major companies operating in the vehicle-to-everything (V2X) cybersecurity market are focusing on developing advanced technologies such as Vehicle Secure Communication Management Systems to gain a competitive edge in the market. A Vehicle Secure Communication Management System (VSCMS) is a software and hardware solution designed to ensure secure and reliable communication between vehicles and external entities, such as infrastructure, other vehicles, and the cloud. For instance, in January 2022, AUTOCRYPT, a South Korea-based developer of end-to-end automotive cybersecurity solutions, launched AutoCrypt SCMS Version 5.0, the latest upgrade to its Secure Communication Management System (SCMS) for Vehicle-to-Everything (V2X) security. This upgrade aims to enhance the security and reliability of V2X communication, which is critical for ensuring the safety and efficiency of autonomous vehicles and smart transportation systems. The updated SCMS leverages advanced encryption and key management techniques to protect V2X data from unauthorized access and tampering, ensuring a secure and trustworthy communication environment for all connected vehicles and infrastructure.
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
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Regional Insights –
Asia-Pacific was the largest region in the vehicle-to-everything (V2X) cybersecurity market in 2023. The regions covered in the vehicle-to-everything (V2X) cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the vehicle-to-everything (V2X) cybersecurity market are 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
Table of Contents
1. Executive Summary
2. Brain Pacemaker Market Report Structure
3. Brain Pacemaker Market Trends And Strategies
4. Brain Pacemaker Market – Macro Economic Scenario
5. Brain Pacemaker Market Size And Growth
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27. Brain Pacemaker Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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