Pune, 24, Nov 2022: According to the V2X Cybersecurity Market report published by Maximize Market Research, the market is expected to grow from USD 1.2 billion in 2021 to USD 4.6 billion in 2029, at a CAGR of 18.3 percent forecast period from 2022 to 2029. Increasing EV Sales Paired with Government Support for V2X Technology will Create New Opportunities for market key players.
V2X Cybersecurity Market Scope and Research Methodology
The report on V2X Cybersecurity Market is a comprehensive analysis that covers trends and highlights prevailing in the V2X Cybersecurity Market, helping clients explore the opportunities and formulate strategies in the market. Analysis of key market players and new entrants is provided based on goods and services offered, revenue, financial status, portfolio, growth strategies, and regional presence. Recent developments regarding acquisitions and mergers, and the strategic stance of the companies with information on joint alliances give an accurate picture of the competitive landscape in the V2X Cybersecurity Market. To understand the products and services of the V2X Cybersecurity Market, segment-wise analysis is conducted by type, function and end-use industry equipped with factors affecting the market and current technological changes and innovations adopted. The report also explains in detail the drivers, challenges, restraints and challenges of the V2X Cybersecurity Market. Regional analysis of the market focusing on the local, regional and global levels is provided to prove as a guide for market followers and entrants to develop pricing and marketing strategies.
The bottom-up approach was used for market estimation and global market trend analysis. Data was collected employing both primary and secondary research methods for a large sample to get accurate inferences. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of organizations or maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to understand the strengths and weaknesses of key companies and PESTLE to grasp the various factors affecting the market. Thus, the report provides a complete overview of the V2X Cybersecurity Market.
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V2X Cybersecurity Market Overview
The companies in the automotive cybersecurity sector supply goods and services to protect automobiles against accidents and cyberattacks. These organizations might be corporations, single private limited companies, or partnerships. Automotive cybersecurity refers to a set of practices used to maintain cars’ effective operation. Automotive cybersecurity refers to the defence of all electronic systems, numerous communication networks, control algorithms, and other types of software from damaging cyberattacks, illegal access, or manipulation.
The main subcategories of automotive cybersecurity include network security, application security, endpoint security, wireless security, and cloud security. Network security describes a set of techniques used to keep automobiles in working order. These are a set of options or rules designed specifically to protect the networks’ use in connected cars. Among the elements that influence the market are external and internal cloud services. This kind of vehicle includes both passenger cars and commercial vehicles and is used in a variety of applications, such as telematics systems, body control, and comfort systems, entertainment systems, powertrain systems, and others. The report covered the details of each market player by country.
V2X Cybersecurity Market Dynamics
V2X technology use is expected to rise over the future years in countries including Japan, China, Germany, and the US. The majority of automakers started utilizing IEEE 802.11p-based V2X technology in 2020, including Volkswagen (Germany), General Motors (US), and Toyota (Japan). Technical advancements, declining V2X technology prices, and growing public and regulatory concerns about vehicle safety are all expected to support the automotive V2X industry.
Involved parties in V2X include OEMs, semiconductor companies, telecommunications companies, and government organizations, to mention just a few. Several players in the V2X ecosystem are researching, testing, and investing to deliver better-connected connected car services and innovations. MMR offers a thorough analysis of the V2X stakeholders in addition to other valuable data covered in the report.
One of the factors restricting the growth of the V2X cybersecurity industry’s income is the lack of infrastructure required to run V2X communication. The V2X technology and its flawed functionality are expected to have a detrimental effect on the growth of the V2X cybersecurity industry. The lack of 5G coverage in remote regions may significantly hamper the efficiency of mobility business models that depend on dependable connectivity. While overcoming coverage issues, it is crucial to take into account the variety of valuable applications expected for future 5G networks even if the geographical distribution has not yet been determined.
V2X Cybersecurity Market Regional Insights
Asia Pacific is expected to dominate the V2X Cybersecurity Market during the forecast period. China is expected to be the largest contributor to the Asia Pacific V2X Cybersecurity Market. With a global rollout expected for 2021, cellular connection for V2X has been the subject of several experiments and tests in China. Another factor contributing to the strong sales of the V2X-equipped Mercedes-Benz E-Class, in particular, V2C and V2I, is China’s dominant market share. The Chinese government has already committed more than USD 10 billion to the IoT sector since October 2010, concentrating particularly on the creation of linked automobiles. The increase in passenger car production with fewer connected car features is one of the key drivers driving the Asia Pacific market. V2X is becoming more and more in demand in the Asia Pacific region as a result of growing environmental concerns and increased consumer spending power. South Korea and Japan would be able to develop V2X systems that perform better and are more economical because they are two of the top producers of electronics in the world. The increasing use of V2X in automobiles and the associated increased need for cybersecurity solutions will thus be the primary drivers of the Asia Pacific V2X Cybersecurity Market.
V2X Cybersecurity Market Segmentation
By Unit:
- On-Board Units
- Roadside Units
By Communication:
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Pedestrian (V2P)
- Vehicle-to-Grid (V2G)
- Vehicle-to-Cloud (V2C)
By Security Type:
- Endpoint Security
- Software Security
- Cloud Security
V2X Cybersecurity Market Key Competitors:
- Altran
- Aptiv
- Autocrypt
- Autotalks Ltd.
- Blackberry Certicom
- Continental
- Denso Corporation
- Escrypt
- Green Hills Software
- Harman International
- ID Quantique
- IDNomic
- Infineon Technologies AG
- Karamba Security
- Lear Corporation
- NXP
- Onboard Security (Qualcomm)
- Saferide Technologies
- Secunet
- STMicroelectronics
- Trillium Secure Inc.
- Vector Informatik GmbH
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Key questions answered in the V2X Cybersecurity Market are:
- What is V2X Cybersecurity?
- What is the growth rate of V2X Cybersecurity Market for the next five years?
- What is the nature of competition in V2X Cybersecurity industry in developed economies and developing economies?
- Who are the key players in the V2X Cybersecurity Market?
- Who are the market leaders in V2X Cybersecurity in Europe
- Who are the market leaders in V2X Cybersecurity in USA and Canada
- Who are the market leaders in V2X Cybersecurity in India, China, Japan and South Korea?
- What are the factors affecting growth in the V2X Cybersecurity Market?
- Who held the largest market share in V2X Cybersecurity Market?
- What are the factors for the growth of Asia-Pacific region in V2X Cybersecurity Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Segment and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading research firm, has also published the following reports:
Automotive V2X Market –The Automotive V2X Market size is expected to reach USD 25.02 billion by 2029 at a CAGR of 38.2 percent during the forecast period. The Industrial Automation Market is expected to be driven by OEMs putting more and more of their attention on advanced mobility, including connected and driverless cars, which is causing a significant upheaval in the automotive industry.
Automotive Engineering Services Market –The Automotive Engineering Services Market size is expected to reach USD 303.23 billion by 2029 at a CAGR of 8.9 percent during the forecast period. The enormous RD investments made by the automotive sector and the constantly increasing customer trust in engineering services are the main drivers of market growth.
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