Global V2X Cybersecurity Market Set for Explosive Expansion

According to the latest market research study published by P&S Intelligence, the global V2X cybersecurity market is witnessing an extraordinary growth trajectory, expected to surge from USD 47.6 million in 2023 to USD 890.2 million by 2030, registering an impressive CAGR of 52.0% during the forecast period. This significant expansion is largely attributed to the increasing adoption of connected and autonomous vehicles, which are reliant on robust V2X (vehicle-to-everything) communication systems. As vehicles become smarter and more interconnected, the risk of cyber threats also rises, necessitating advanced cybersecurity frameworks.

The growing emphasis on road safety and the integration of technologies such as cellular-V2X (C-V2X) and dedicated short-range communication (DSRC) are driving the need for sophisticated cybersecurity protocols. Governments and regulatory bodies worldwide are introducing stringent mandates to ensure the safety and reliability of connected vehicles, further catalyzing market growth. With passenger cars accounting for the largest share of deployment, manufacturers are increasingly investing in security systems that shield vehicles from cyber intrusions and maintain communication integrity. Technological innovation, particularly in 5G and cloud services, continues to provide fertile ground for cybersecurity solutions tailored to automotive use.

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Key Insights

• DSRC held the largest market share in 2023, accounting for approximately 65% of the connectivity type segment, due to its ability to offer direct, rapid, and weather-resistant communication between vehicles and infrastructure.

• Cellular connectivity is projected to be the fastest-growing segment through 2030, with a CAGR of 52.3%, supported by the evolution of automotive 5G and growing need for real-time remote vehicle monitoring and control.

• Vehicle-to-vehicle (V2V) communication dominated the market in 2023 with a 40% share, fueled by its integration in telematics systems to enhance vehicle safety, provide driver alerts, and prevent collisions through early warnings.

• Vehicle-to-grid (V2G) communication is expected to grow at the highest CAGR of 52.7% between 2024 and 2030, as electric vehicles increasingly support power grid balancing by supplying energy during peak demand.

• Passenger cars constituted the largest vehicle type in the market in 2023 due to their early adoption of advanced connected technologies and OEM efforts to enhance in-car cybersecurity measures.

• North America is anticipated to witness the fastest growth during the forecast period, owing to the region's leadership in automotive technology development, increased spending on cybersecurity, and active regulatory frameworks.

• Asia-Pacific was the largest regional market in 2023, led by the rapid adoption of connected mobility solutions in countries like China, Japan, and South Korea.

• In terms of form, in-vehicle cybersecurity solutions are widely adopted for endpoint protection, while cloud-based external services are gaining traction for their scalability and centralized threat monitoring capabilities.

• Public key infrastructure (PKI) and embedded security frameworks are the primary models used to secure V2X communication. These frameworks support encryption, authentication, and trust management to prevent unauthorized access.

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• Key players in the V2X cybersecurity market are focusing on partnerships and R&D investments to deliver customized solutions, address interoperability challenges, and respond swiftly to evolving threats in connected vehicle ecosystems.

• The presence of heterogeneous nodes-systems using various communication protocols-poses a significant challenge to market growth, emphasizing the need for standardized and compatible cybersecurity solutions.

• High initial costs remain a barrier for smaller players and new entrants, potentially limiting innovation, though rising awareness and government incentives may help mitigate this over time.

• The increasing implementation of government cybersecurity mandates, particularly in Europe and the U.S., is driving OEMs and tier-1 suppliers to integrate cybersecurity features at the design stage, influencing procurement decisions and product roadmaps.

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