PUBLISHER: The Business Research Company | PRODUCT CODE: 1532102
PUBLISHER: The Business Research Company | PRODUCT CODE: 1532102
V2X cybersecurity involves implementing measures and protocols to protect vehicle-to-everything (V2X) communication networks from cyber threats and attacks. These networks enable communication between vehicles and various entities, including other vehicles (V2V), infrastructure (V2I), and the cloud (V2C). The goal of V2X cybersecurity is to uphold the integrity, confidentiality, and availability of exchanged data within these networks, guarding against unauthorized access, manipulation, and disruptions that could jeopardize vehicle and road safety, as well as privacy.
The key components of V2X cybersecurity include hardware, software, and services. Hardware encompasses physical devices and components specifically designed to secure V2X communications. These employ diverse security measures such as network security, cloud security, and application security. On-board units and roadside units are integral to this setup. V2X communication spans various types, including vehicle-to-vehicle, vehicle-to-infrastructure, vehicle-to-pedestrian, vehicle-to-grid, and vehicle-to-cloud, supporting a range of vehicle categories such as passenger cars, light commercial vehicles, and heavy commercial vehicles.
The vehicle-to-everything (V2x) cybersecurity market research report is one of a series of new reports from The Business Research Company that provides vehicle-to-everything (V2x) cybersecurity market statistics, including vehicle-to-everything (V2x) cybersecurity industry global market size, regional shares, competitors with a vehicle-to-everything (V2x) cybersecurity market share, detailed vehicle-to-everything (V2x) cybersecurity market segments, market trends and opportunities, and any further data you may need to thrive in the vehicle-to-everything (V2x) cybersecurity industry. This vehicle-to-everything (V2x) cybersecurity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 observed in the historic period can be attributed to significant cyber-attacks, the introduction of cybersecurity regulations and standards, rapid expansion in connected vehicles, the establishment of v2x communication standards, and the ongoing digitization of the automotive industry.
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 increasing demand for user authentication, collaborative efforts among 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 the rising prevalence of electric and autonomous vehicles. Key trends anticipated in the forecast period include advancements in the v2x ecosystem, enhancements in cryptography, integration of 5G technology, development of advanced encryption and authentication methods to safeguard v2x communications, and the implementation of secure over-the-air (OTA) updates.
The increasing demand for connected vehicles is set to boost the expansion of the vehicle-to-everything (V2X) cybersecurity market in the coming years. Connected vehicles are automobiles that come equipped with internet connectivity and onboard sensors, allowing them to communicate with other devices, infrastructure, and networks. This communication enhances safety, convenience, and efficiency while driving. The surge in connected vehicles is driven by technological advancements, growing consumer desire for smart features, improved safety and efficiency advantages, and the development of infrastructure supporting connected car capabilities. V2X cybersecurity plays a crucial role in safeguarding data exchanges between connected vehicles and infrastructure, ensuring secure communication and protecting against cyber threats. For example, in August 2021, the Australian Computer Society reported that there were approximately one million connected cars in Australia, a number expected to reach 10 million by 2030. Consequently, the increasing demand for connected vehicles is fueling growth in the automotive digital services market, which in turn is boosting the vehicle-to-everything (V2X) cybersecurity market.
Major companies in the vehicle-to-everything (V2X) cybersecurity sector are concentrating on developing cutting-edge technologies such as Vehicle Secure Communication Management Systems to stay ahead 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, introduced AutoCrypt SCMS Version 5.0, the latest upgrade to its Secure Communication Management System (SCMS) for V2X security. This upgrade aims to boost the security and reliability of V2X communication, critical for the safety and efficiency of autonomous vehicles and smart transportation systems. The updated SCMS utilizes advanced encryption and key management techniques to safeguard V2X data from unauthorized access and tampering, ensuring a secure communication environment for all connected vehicles and infrastructure.
In February 2021, HARMAN International, a US-based electronics company, acquired Savari Inc. for an undisclosed amount. This acquisition will enhance HARMAN's capabilities in automotive telematics and advanced driving assistance systems (ADAS) and expand its expertise in 5G Edge, multi-access edge computing (MEC), and smart infrastructure solutions. Savari Inc., based in the US, specializes in vehicle-to-everything (V2X) cybersecurity solutions.
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
Asia-Pacific was the largest region in the vehicle-to-everything (V2X) cybersecurity market in 2023. 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.
The countries covered in the vehicle-to-everything (V2X) cybersecurity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vehicle-to-everything (V2X) cybersecurity market consists of revenues earned by entities by providing services such as security credential management systems (SCMS), intrusion detection and prevention systems (IDPS), and security operations center (SOC) services. The market value includes the value of related goods sold by the service provider or included within the service offering. The vehicle-to-everything (V2X) cybersecurity market also includes sales of processors, sensors, and edge security devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Vehicle-To-Everything (V2X) Cybersecurity Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vehicle-to-everything (V2X) cybersecurity market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vehicle-to-everything (V2X) cybersecurity ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vehicle-to-everything (V2X) cybersecurity market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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