Rise in cybersecurity mandates, developments in cellular-V2X technology, and surge in automotive cybersecurity threat have boosted the growth of the global V2X cybersecurity market. However, high cost of implementation and challenges in making secure applications hinder the market growth. On the contrary, rise in demand for connected vehicles and improving vehicle security using adaptive security would open new opportunities in the future.
According to a new report published by Allied Market Research, titled, “V2X Cybersecurity Market,” The V2X cybersecurity market was valued at $0.72 billion in 2021, and is estimated to reach $5.7 billion by 2031, growing at a CAGR of 21.6% from 2022 to 2031.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 -(353 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/12654
The prominent key factors that drive the growth of the V2X cybersecurity market are increase in cybersecurity mandates, advancement in Cellular-V2X (C-V2X) technology, and growing automotive cybersecurity threat. The increasing adoption of V2X technology in vehicle generates large amount of data related to vehicle, which encourages hackers to threat the security and safety of connected vehicles infrastructure. The hackers can manipulate data transmission that can weaken real-life safety. The successful attempts to attacks on communication and V2X infrastructure can impact all endpoints that potentially lead to danger. Owing to all these factors, the demand for V2X cybersecurity has seen significant growth in recent years.
The on-board unit segment dominated the market growth
By unit type, the on-board unit segment held the largest share in 2021, accounting for more than three-fifths of the global V2X cybersecurity market. In addition, the segment is expected to manifest the highest CAGR of 21.9% during the forecast period, due to growing demand for advanced drive assist systems (ADAS) and connected vehicles. The report includes a detailed analysis of the roadside unit segment.
The light commercial vehicle segment to manifest the highest CAGR through 2031
By vehicle type, the light commercial vehicle segment is projected to register the highest CAGR of 22.3% during the forecast period. This is owing to increase in the implementation of V2X technology in light commercial vehicles to enable data exchange between vehicles and objects in the surroundings and between vehicles and the transportation infrastructure. However, the passenger car segment held the largest share in 2021, contributing to nearly two-thirds of the global V2X cybersecurity market, due to growing demand for semi-autonomous cars.
The electric and hybrid segment held the lion’s share
By propulsion type, the electric and hybrid segment held the largest share in 2021, accounting for more than half of the global V2X cybersecurity market, due to increase in demand for fuel-efficient, high-performance, and low-emission vehicles along with stringent government rules & regulations toward vehicle emission. However, the ICE segment is expected to showcase the highest CAGR of 23.6% during the forecast period, owing to adoption of large number of V2X, ADAS, and other connected features equipped with ICE vehicles.
Interested to Procure the Data with Actionable Strategy & Insights? Inquire Before Buying – https://www.alliedmarketresearch.com/purchase-enquiry/12654
The vehicle-to-vehicle segment to showcase the highest CAGR by 2031
By communication, the vehicle-to-vehicle segment is expected to register the highest CAGR of 22.9% during the forecast period. Moreover, the segment held the largest share in 2021, contributing to more than one-third of the global V2X cybersecurity market, due to increase in use of vehicle-to-vehicle communication to improve traffic management and reduce accidents. The report includes analysis of the vehicle-to-infrastructure, vehicle-to-grid, and others.
Europe held the largest share
By region, the global V2X cybersecurity market across Europe held the largest share in 2021, accounting for more than one-third of the market. Furthermore, the region is expected to showcase the highest CAGR of 23.0% during the forecast period, owing to rise in adoption of telematics & GNSS in fleet management services and population increase in the region. The report includes an analysis of the market across North America, LAMEA, and Europe.
Major market players
- Altran
- APTIV
- AUTOCRYPT Co., Ltd.
- Autotalks Ltd.
- Continental AG
- ESCRYPT
- Green Hills Software LLC.
- HARMAN International
- ID Quantique SA
- Infineon Technologies AG
- Karamba Security
- NXP Semiconductors
- Qualcomm Technologies, Inc.
- SafeRide Technologies
- Vector Informatik GmbH
The report analyzes these key players in the global V2X cybersecurity market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐭 – https://www.alliedmarketresearch.com/request-for-customization/A12289
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube
