Vehicle-To-Everything (V2X) Cybersecurity Market Size & Trends 2024-2033 | Key Players

The Business Research Company recently released a comprehensive report on the Global Vehicle-To-Everything (V2X) Cybersecurity Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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

Vehicle-To-Everything (V2X) Cybersecurity Market 2024 Key Insights:

• 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%.
• Growth In Connected Vehicles Driving Expansion Of The V2X Cybersecurity Market
• Advancements In Security Credential Management System (SCMS) Technology For The V2X Cybersecurity Market
• Asia-Pacific was the largest region in the vehicle-to-everything (V2X) cybersecurity market in 2023

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