V2X Cybersecurity Market 20.5 CAGR Growth Outlook 2024-2030

Key Insights

The V2X Cybersecurity Market size was valued at USD 1.48 USD Billion in 2023 and is projected to reach USD 5.46 USD Billion by 2032, exhibiting a CAGR of 20.5 % during the forecast period. V2X (Vehicle-to-Everything) Cybersecurity market assures safe communication between vehicles and other entities like infrastructure and pedestrians. It is about protecting from cyber threats and maintaining the safety and reliability of the V2X networks, which comprise vehicles with connectivity and smart transportation systems. V2X cybersecurity is a primary avenue for the prevention of hacking, data breaches, and unauthorized actions on vehicle systems as well as vehicle communication protocols. Production includes automotive security, ITS, and vehicle autonomy. The market is driven by encryption and authentication protocol transit, intrusion detection system wiring, and interactions among vehicle manufacturers, cybersecurity firms, and regulators to set standards. With the automotive business moving from simple day-to-day communications to connected and autonomous vehicles, the V2X Cybersecurity market keeps developing its place in the industry due to its need to provide secure defense measures.

V2X Cybersecurity Trends

• Rising adoption of V2X technologies in autonomous and connected vehicles
• Increasing concerns over cyberattacks targeting V2X systems
• Demand for secure and reliable V2X communication infrastructure

Driving Forces: What's Propelling the V2X Cybersecurity Market

• Government regulations and initiatives for V2X security
• Advancement in V2X communication technologies
• Growing adoption of IoT devices in vehicles

Challenges and Restraints in V2X Cybersecurity Market

• Complex and fragmented V2X ecosystem
• Lack of industry-wide cybersecurity standards
• High cost of V2X cybersecurity solutions

Emerging Trends in V2X Cybersecurity

• Integration of artificial intelligence (AI) and machine learning (ML) for threat detection
• Deployment of blockchain technology for secure data sharing
• Rise of autonomous and connected vehicles

Growth Catalysts in V2X Cybersecurity Industry

• Increasing collaboration among stakeholders
• Government investments in V2X infrastructure
• Growing awareness of V2X security risks

Market Segmentation: V2X Cybersecurity Analysis

Connectivity:

• DSRC
• Cellular

Unit Type:

• On-board Unit (OBU)

Communication:

• Vehicle-to-Vehicle (V2V)
• Vehicle-to-Infrastructure (V2I)

Vehicle Type:

• Commercial Vehicle
• Passenger Car

Leading Players in the V2X Cybersecurity Market

• Infineon Technologies AG
• Qualcomm Technologies, Inc.
• NXP Semiconductors
• AUTOCRYPT Co., Ltd.
• Lear Corporation
• Continental AG
• Autotalks Ltd.
• Yunex Traffic
• Commsignia Ltd.
• Karamba Security

Significant developments in V2X Cybersecurity Sector

• December 2023: AUTOCRYPT Co., Ltd. partners with Hitachi Solutions, Ltd. for V2X security solutions in Japan.
• September 2023: Commsignia Ltd. secures USD 15 million Series B funding for global expansion.
• January 2023: INTEGRITY Security Services partners with SaeSol Tech for V2X technology in Asia.
• July 2022: Yunex Traffic selected to provide 150 RSUs for Colorado Department of Transportation.
• July 2022: Commsignia partners with Perrone Robotics for V2X systems in smart city applications.

Comprehensive Coverage V2X Cybersecurity Market Report

The V2X Cybersecurity Market Report provides in-depth analysis of market trends, drivers, challenges, and competitive landscape. It includes market forecasts, industry developments, and company profiles.

Regional Insight

North America is the largest market for V2X cybersecurity, followed by Europe and Asia-Pacific. Growth in emerging markets is driven by increasing adoption of V2X technologies and government regulations.

Recent Mergers & Acquision

• March 2023: Infineon Technologies acquired SilTerra Malaysia Sdn Bhd for USD 2.3 billion.
• February 2023: Qualcomm Technologies acquired Arriver Software for USD 450 million.

Regulation

• The European Union (EU) has implemented the General Data Protection Regulation (GDPR) to protect personal data in V2X communication.
• The United States (US) has proposed the Secure Connected Vehicle Act to enhance cybersecurity in connected vehicles.

Patent Analysis

• The number of V2X cybersecurity patents has increased significantly in recent years.
• Key players are actively filing patents to protect their technologies and gain market dominance.

Analyst Comment

The V2X cybersecurity market is experiencing rapid growth driven by the increasing adoption of V2X technologies and rising security threats. Industry collaboration and government support will continue to fuel market expansion in the coming years.