Press release
Vehicle-To-Everything (V2X) Cybersecurity Market Anticipated To Witness Robust Growth, Surpassing $5.65 Billion By 2029
Vehicle-To-Everything (V2X) Cybersecurity
What Is the Current Vehicle-To-Everything (V2X) Cybersecurity Market Size and Its Estimated Growth Rate?
The vehicle-to-everything (V2X) cybersecurity market will increase from $1.99 billion in 2024 to $2.46 billion in 2025 at a CAGR of 23.5%. The historical growth can be attributed to high-profile cyber-attacks, the implementation of cybersecurity regulations and standards, the rapid rise in connected vehicles, the development of V2X communication standards, and the digitalization of the automotive industry.
The vehicle-to-everything (V2X) cybersecurity market is anticipated to experience exponential growth, reaching $5.65 billion by 2029 at a CAGR of 23.2%. Growth will be fueled by the demand for user authentication, collaboration between the automotive, technology, and cybersecurity sectors, exploration of blockchain for secure V2X data, IoT integration with V2X systems, and the rise of electric and autonomous vehicles. Trends include advancements in V2X ecosystem technology, cryptography innovations, the integration of 5G, advanced encryption and authentication methods, and secure over-the-air (OTA) updates.
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How Are Emerging Segments Shaping the Vehicle-To-Everything (V2X) Cybersecurity Market Landscape?
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
Subsegments:
1) By Hardware: On-Board Units (OBUs), Roadside Units (RSUs), Communication Modules, Sensors, Security Gateways
2) By Software: Intrusion Detection Systems (IDS), Firewalls, Encryption Software, Authentication And Authorization Software, Security Management Software
3) By Services: Managed Services, Professional Services
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Which Growth Factors Are Influencing Vehicle-To-Everything (V2X) Cybersecurity Market Expansion?
The rise in demand for connected vehicles is expected to propel the vehicle-to-everything (V2X) cybersecurity market. Connected vehicles are gaining popularity due to technological advances, consumer demand for smart features, and safety benefits. V2X cybersecurity ensures safe communication between vehicles and infrastructure, protecting against cyber threats. In June 2024, Statistics Canada reported an increase in the number of road motor vehicles, signaling greater demand for connected vehicles and driving growth in V2X cybersecurity.
Who Are the Dominant Players Across Different Vehicle-To-Everything (V2X) Cybersecurity Market Segments?
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
What Trends Are Expected to Dominate the Vehicle-To-Everything (V2X) Cybersecurity Market in the Next 5 Years?
Companies in the vehicle-to-everything (V2X) cybersecurity market are focusing on developing technologies such as Vehicle Secure Communication Management Systems to enhance their market position. For example, AUTOCRYPT, a South Korean company, introduced AutoCrypt SCMS Version 5.0 in January 2022 to improve the security and reliability of V2X communication. This version integrates advanced encryption and key management techniques to safeguard data, ensuring secure interactions between vehicles, infrastructure, and the cloud.
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Which Geographic Regions Are Expected to Dominate the Vehicle-To-Everything (V2X) Cybersecurity Market in the Coming Years?
Asia-Pacific was the largest region in the vehicle-to-everything (V2X) cybersecurity market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Vehicle-To-Everything (V2X) Cybersecurity Market?
2. What is the CAGR expected in the Vehicle-To-Everything (V2X) Cybersecurity Market?
3. What Are the Key Innovations Transforming the Vehicle-To-Everything (V2X) Cybersecurity Industry?
4. Which Region Is Leading the Vehicle-To-Everything (V2X) Cybersecurity Market?
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