V2X Cybersecurity Market Size, Industry Share, Top Key Player Analysis, Company Overview, Economy, Development and Forecast to 2032

The global V2X cybersecurity market revenue was around US $0.87 billion in 2022 and is estimated to reach $5.7 billion by 2031, growing at a compound annual growth rate (CAGR) of 21.6% during the forecast period 2023 to 2031.

Vehicle-to-everything (V2X) is a communication technology that permits a vehicle to communicate with other road users, vehicles, and infrastructure. The main objective of vehicle-to-everything (V2X) technology is to enhance energy savings, road safety, and traffic efficiency on roads.

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Factors Influencing Market Growth

- Increasing cybersecurity licenses, improvement in Cellular-V2X (C-V2X) technology, and also, rising automotive cybersecurity threats are expected to increase the growth of the global V2X cybersecurity market during the forecast period.

- Challenges in creating secure applications and high cost of performance are anticipated to hamper the growth of the global V2X cybersecurity market during the forecast period.

- Growing demand for connected vehicles, and improving vehicle security using adaptive security are expected to make an opportunity for the V2X cybersecurity industry shortly.

Impact of COVID-19

The COVID-19 pandemic caused governments across the globe to enforce strict lockdowns and ban the import-export of basic raw material items for most of 2020, and a few months in 2021. Due to the interrupted supply chains and production plans induced by COVID-19. Automotive production and sales suffered severely during this pandemic. And led to a negative influence on the market of V2X cybersecurity in 2020. While

The COVID-19 pandemic restricted the functions of multiple companies, while cyber-attacks were on the rise. Smart mobility service providers and OEMs were among the top targets.

Regional Analysis

Europe dominated the V2X cybersecurity market in terms of revenue, and also, followed by Asia-Pacific, North America, and LAMEA. The U.S. and China dominated the V2X cybersecurity market in 2022. The immediate development of the automobile sector across all segments along with the growth in customer preference toward improvements of fuel-efficient vehicles drives the development of the V2X cybersecurity market.

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Leading Companies

The leading prominent companies profiled in the global V2X cybersecurity market are: -

- Altran
- APTIV
- AUTOCRYPT Co., Ltd.
- Autotalks Ltd.
- Continental AG
- ESCRYPT
- Green Hills Software LLC
- HARMAN International
- ID Quantique SA
- Infineon Technologies AG
- Karamba Security
- NXP Semiconductors
- Qualcomm Technologies Inc.
- SafeRide Technologies
- Vector Informatik GmbH
- Other prominent key players

Segmentation Outline

The global V2X cybersecurity market segmentation focuses on Unit Type, Vehicle Type, Propulsion Type, Communication, and Region.

Segmentation based on Unit Type

- On-Board Unit
- Roadside Unit

Segmentation based on Vehicle Type

- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle

Segmentation based on Propulsion Type

- ICE
- Electric and Hybrid
- Others

Segmentation based on Communication

- Vehicle-To-Vehicle
- Vehicle-To-Infrastructure
- Vehicle-To-Grid
- Others

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Segmentation based on Region

North America
- The U.S.
- Canada
Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa

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Market value (millions of dollars) and volume (millions of units) data for each segment and sub-segment

Competitive scenario involving the market share of the main players, along with the new projects and strategies adopted by the players in recent years.

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