V2X Cybersecurity Market Research Report Information By Connectivity (Cellular, DSRC), By Communication (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V21), Vehicle-to-Pedestrian (V2P), and Vehicle-to-Grid (V2G)), By Vehicle Type (Passenger Cars, Commercial Vehicles), Based on Security Framework (PKI, Embedded), By Form (In-Vehicle, External Cloud Services), By Propulsion (Internal Combustion Engines, Electric Vehicles), By Security Type (Endpoint Security, Software Security, Cloud Security), And By Region –Market Forecast Till 2032

V2X Cybersecurity Market Overview:

Global V2X Cybersecurity Market Size was valued at USD 0.048 Billion in 2023. The V2X Cybersecurity market industry is projected to grow from USD 0.073 Billion in 2024 to USD 1.37 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 52.00% during the forecast period (2024 - 2032). The swift uptake of V2X technology and the increasing acceptance of automated and self-driving cars are the key market drivers boosting the expansion of the market.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

V2X Cybersecurity Market Trends

Increased cyberattacks and the volume of data produced by automobiles are driving the market growth

Market CAGR for V2X Cybersecurity is being driven by the increased cyberattacks and the volume of data produced by automobiles. V2X cybersecurity solutions comprise a range of measures to prevent cyberattacks targeting both cars and the broader transportation infrastructure. These defenses consist of threat assessment tools, secure communication protocols, encryption, and intrusion detection. As long as governments and automakers continue to push for the widespread implementation of V2X technology, the V2X cybersecurity market is predicted to grow significantly. This is because the automobile industry's requirement for robust, stable, and trustworthy cybersecurity infrastructure is expanding, and the market is attracting investments and innovative solutions.

Additionally, developing connected and autonomous vehicles requires an advanced V2X communication infrastructure. A V2X communication system generates a vast amount of data that needs to be examined by using a variety of networks, sensors, devices, and connectivity choices. To prevent misuse, the privacy of this data must be protected. Once hackers have gained access to the system, they can view all of the data related to the driver, cloud, infrastructure, and car. Furthermore, V2X makes it easier for cars to connect to cellphones, raising the possibility that hackers may gain illegal access to customers' sensitive data, which is frequently kept on the cloud.

The future of autos is thought to be connected and autonomous, and V2X technology will be crucial to this development. Advanced V2X technologies and systems are essential for the collection and sharing of real-time data in connected and autonomous cars. Autonomous cars are becoming more and more popular than ever before. To transform traditional driving, businesses like Mercedes Benz, BMW, Continental AG, and BYD extensively invest in their research and development departments. Many non-automotive providers are now concentrating their efforts on the automotive sector. Due to the fragmentation of the value chain across all industries, stakeholders now face difficult challenges in distributing money. For instance, according to Upstream Security Ltd., cyberattacks are predicted to cost the automobile sector an astounding USD 505 billion by 2024. The vehicle may now be readily hacked remotely by hackers; over 97% of attacks are carried out remotely, with long-distance attacks accounting for 70% of these attempts. Moreover, automotive API attacks increased by 380% in 2022, accounting for 12% of all instances. This has resulted in driving the V2X Cybersecurity market revenue.

V2X Cybersecurity Market Segment Insights:

V2X Cybersecurity Connectivity Insights

The global V2X Cybersecurity market segmentation, based on Connectivity, includes Cellular and DSRC. In 2023, the Cellular segment dominated the market. The automotive industry's efforts to combat digital risks and technological breakthroughs in 5G infrastructure are driving significant growth in the cellular segment.

V2X Cybersecurity Communication Insights

The global V2X Cybersecurity market segmentation, based on Communication, includes Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V21), Vehicle-to-Pedestrian (V2P), and Vehicle-to-Grid (V2G). In 2023, the Vehicle-to-Vehicle (V2V) category generated the most income. The market share of the V2V segment can be ascribed to fleet firms' growing awareness of driver safety and vehicle tracking, as well as the vehicles' increased use of telematics systems.

V2X Cybersecurity Vehicle Type Insights

The global V2X Cybersecurity market segmentation, based on Vehicle Type, includes Passenger Cars and Commercial Vehicles. In 2023, the Passenger Cars segment dominated the market. Because V2X cybersecurity solutions are being used in more hybrid and electric passenger automobiles, the market share is noteworthy. The deliberate disruption of V2X communication channels by malicious bots, known as Channel Denial of Service (DoS), is on the rise and is driving the passenger car industry.

V2X Cybersecurity Security Framework Insights

The global V2X Cybersecurity market segmentation, based on Security Framework, includes PKI and Embedded. In 2023, the PKI category generated the most income. For wireless communications, Public Key Infrastructure (PKI) is a widely recognized technology, especially in the Internet of Things (IoT)-based automotive applications and autonomous vehicle innovations. Certificate Policy, Root Certificate Authority (CA), Intermediate CA, Certificate Database, Cancellation Services, and Digital Certificate are examples of crucial parts of a standard PKI system.

V2X Cybersecurity Form Insights

The global V2X Cybersecurity market segmentation, based on Form, includes In-Vehicle and External Cloud Services. In 2023, the External Cloud Services segment dominated the market. A favorable outlook for cloud security solutions is being created by the market's growing adoption of cloud-based solutions due to their many advantages, including reduced operating costs, a wide range of products offered by industry players, reliable synchronization between linked devices or systems, and increased security.

V2X Cybersecurity Propulsion Insights

The global V2X Cybersecurity market segmentation, based on Propulsion, includes Internal Combustion Engines and Electric Vehicles. In 2023, the Internal Combustion Engines category generated the most income. The continuous need for internal combustion engine (ICE) cars is anticipated to drive up demand for automotive systems, technology, and parts. In turn, this will make cybersecurity even more necessary to protect these cutting-edge systems.

V2X Cybersecurity Security Type Insights

The global V2X Cybersecurity market segmentation, based on Security Type, includes Endpoint Security, Software Security, and Cloud Security. In 2023, the Software Security segment dominated the market. Software security safeguards the availability, confidentiality, and integrity of Communication between cars and their environment, which makes it essential for V2X cybersecurity. In the quickly changing world of connected and autonomous automobiles, strong security measures guard against malicious attacks, illegal access, and data tampering.

Figure 1: Global V2X Cybersecurity Market, by Security Type, 2023 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

V2X Cybersecurity Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American V2X Cybersecurity market area will dominate this market. The market is growing gradually in tandem with the automobile industry's quick technological breakthroughs, the substantial sales of autonomous vehicles, and the government's encouraging policies for smart transportation networks.

Further, the major countries studied in the market report are Brazil, South Korea, China, Japan, India, Australia, Germany, France, the UK, Italy, and Spain.

Figure 2: Global V2x Cybersecurity Market Share By Region 2023 (Usd Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's V2X Cybersecurity market has the second-largest portion of the market, driven by stricter safety laws and an increase in the market for linked vehicles with V2X technology. Further, the German V2X Cybersecurity market had the biggest market share, and the UK V2X Cybersecurity market was the European market with the quickest rate of growth.

The Asia-Pacific V2X Cybersecurity Market is anticipated to expand between 2024 and 2032 at the quickest CAGR. Propelled by significant sales of cars with V2X integration, which established a standard for other automakers to follow. Moreover, China’s V2X Cybersecurity market had the biggest market share, and the Indian V2X Cybersecurity market was the Asia-Pacific region's fastest-growing market.

V2X Cybersecurity Key Market Players & Competitive Insights

Leading market players are putting a lot of money into R&D to expand their product lines, which will help the V2X Cybersecurity market keep growing. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide reach, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. to grow and endure in an increasingly cutthroat and dynamic market, V2X Cybersecurity industry must provide reasonably priced goods.

Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the global V2X Cybersecurity industry to help customers and expand the market segment. In recent years, the V2X Cybersecurity industry has provided some of the biggest benefits to medicine. Major players in the V2X Cybersecurity market, including ESCRYPT GmbH (Germany), Qualcomm Incorporated (US), Autotalks (Israel), AUTOCRYPT Co., Ltd. (Korea), and Continental AG (Germany), and others, are engaging in research and development activities in an effort to boost market demand.

Incorporated in Delaware, Qualcomm Incorporated is a global corporation based in San Diego, California, with operations worldwide. It produces software, semiconductors, and wireless technology-related services. It is the owner of patents that are essential to the mobile communications standards of 5G, 4G, CDMA2000, TD-SCDMA, and WCDMA. In 1985, Irwin Jacobs and six other co-founders founded Qualcomm. In March 2022, Qualcomm purchased Arriver, a brand of autonomous driving software and sophisticated driver assistance technologies, from investment firm SSW Partners.

Continental AG, also referred to as Conti or just Continental, is a multinational automotive parts manufacturer based in Germany that specializes in tires, brake systems, vehicle gadgets, automotive safety, engine, chassis parts, tachographs, and other parts for the transportation and automotive industries. The six divisions of Continental are ContiTech, Tires, Interior, Powertrain, Chassis and Safety, and ADAS (Advanced Driver Assistance Systems). Its main office is located in Lower Saxony, Hanover. Continental is the third-biggest global supplier to the automobile industry and the fourth-biggest tire maker. In February 2021, in order to progress its autonomous driving technology, Continental said that it had purchased a minority investment in the German-U.S. start-up Recogni.

Key Companies in the V2X Cybersecurity market include

• ESCRYPT GmbH (Germany)


• Qualcomm Incorporated (US)


• Autotalks (Israel)


• AUTOCRYPT Co., Ltd. (Korea)


• Continental AG (Germany).

V2X Cybersecurity Industry Developments

January 2024: A Memorandum of Understanding (MOU) detailing AUTOCRYPT and Cohda Wireless' joint efforts to create a security-integrated Vehicle-to-Everything (V2X) system was established during CES 2024.

June 2023: Infineon Technologies AG and Autotalks have teamed together to provide cutting-edge Vehicle-to-Everything (V2X) solutions.

May 2023: Qualcomm Incorporated announced that it has finalized a deal to buy Autotalks through its subsidiary, Qualcomm Technologies, Inc.

V2X Cybersecurity Market Segmentation:

V2X Cybersecurity Connectivity Outlook

• Cellular


• DSRC

V2X Cybersecurity Communication Outlook

• Vehicle-to-Vehicle (V2V)


• Vehicle-to-Infrastructure (V21)


• Vehicle-to-Pedestrian (V2P)


• Vehicle-to-Grid (V2G)

V2X Cybersecurity Vehicle Type Outlook

• Passenger Cars


• Commercial Vehicles

V2X Cybersecurity Security Framework Outlook

• PKI


• Embedded

V2X Cybersecurity Form Outlook

• In-Vehicle


• External Cloud Services

V2X Cybersecurity Propulsion Outlook

• Internal Combustion Engines


• Electric Vehicles

V2X Cybersecurity Security Type Outlook

• Endpoint Security


• Software Security


• Cloud Security

V2X Cybersecurity Regional Outlook

• 
  
  Middle East
  
  


• 
  
  Africa
  
  


• 
  
  Latin America