V2X Cyber ​​Security Market Will Reach $5.7 Billion Globally By 2031 At A CAGR Of 21.6%: Allied Market Research

The rise in cybersecurity mandates, advances in Cellular-V2X technology, and the increase in the automotive cybersecurity threat has fueled the growth of the global V2X cybersecurity market.

Portland, ore.And the October 13, 2022 /PRNewswire/ — Allied Market Research recently published a report titled, V2X Cyber ​​Security Market By unit type (on-board unit, roadside unit), by vehicle type (passenger car, light commercial vehicle, heavy commercial vehicle), by type of propulsion (ICE, electric and hybrid, other), by connection (vehicle-to – vehicle), vehicle-to-infrastructure, vehicle-to-network, other): analysis of global opportunities and industry forecasts, 2021-2031”. According to the report, the global V2X cybersecurity industry has been ranked $0.72 billion In 2021, it is expected to reach $5.7 billion by 2031, at a CAGR of 21.6% from 2022 to 2031. The report provides a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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The main determinants of market growth

The rise in cybersecurity mandates, advances in Cellular-V2X technology, and the increase in the automotive cybersecurity threat has fueled the growth of the global V2X cybersecurity market. However, the high cost of implementation and challenges in creating secure applications are hampering market growth. On the contrary, increasing demand for connected vehicles and improving vehicle security using adaptive safety will open up new opportunities in the future.

Covid-19 scenario:

  • The Covid-19 outbreak has forced governments around the world to impose strict lockdown regulations and social distancing rules. Moreover, governments have banned the import and export of non-essential raw materials, creating a huge supply and demand gap.

  • Automobile production suffered heavy losses during the pandemic due to a shortage of skilled manpower and raw materials. On the other hand, while the pandemic has hampered the operations of many companies, the number of cyber attacks has increased dramatically. This has led to an increased demand for cyber security.

  • The pandemic has accelerated demand for connected mobility, autonomous vehicles and smart cities, creating new opportunities for the V2X cybersecurity industry.

The indoor unit segment dominated the market growth

By module type, the embedded module segment captured the largest share in 2021, accounting for more than three-fifths of the global V2X cybersecurity market. Additionally, the segment is expected to show the highest compound annual growth rate of 21.9% during the forecast period, due to the growing demand for advanced driving assistance systems (ADAS) and connected vehicles. The report includes a detailed analysis of the roadside unit segment.

The light commercial vehicle sector recorded the highest compound annual growth rate until 2031

By vehicle type, the light commercial vehicle segment is expected to register the highest compound annual growth rate of 22.3% during the forecast period. This is due to the increased implementation of V2X technology in light commercial vehicles to enable data exchange between vehicles and objects in the surroundings and between vehicles and transportation infrastructure. However, the passenger car segment captured the largest share in 2021, contributing nearly two-thirds of the global V2X cybersecurity market, due to the growing demand for semi-autonomous vehicles.

The electric and hybrid part got the lion’s share

By type of payment, the electric and hybrid segment captured the largest share in 2021, accounting for more than half of the global V2X cybersecurity market, due to increased demand for fuel-efficient, high-performance, low-emissions vehicles along with stringent government rules and regulations towards vehicle emissions. However, the ICE segment is expected to show the highest compound annual growth rate of 23.6% during the forecast period, due to the adoption of a large number of V2X, ADAS and other connected features equipped with ICE vehicles.

Auto to Vehicle segment will display highest compound annual growth rate by 2031

By calling, the Automotive to Vehicle segment is expected to register the highest compound annual growth rate of 22.9% during the forecast period. Moreover, this segment captured the largest share in 2021, contributing more than a third of the global V2X cybersecurity market, due to the increased use of vehicle-to-vehicle communication to improve traffic management and reduce accidents. The report includes an analysis of vehicle-to-infrastructure, vehicle-to-network, and others.

Europe I got the biggest share

By Region, Global Cyber ​​Security Market V2X Via Europe It captured the largest share in 2021, capturing more than a third of the market. Furthermore, the region is expected to display the highest compound annual growth rate of 23.0% during the forecast period, due to increased adoption of telecommunications and GNSS in fleet management services and population growth in the region. The report includes an analysis of the market across North Amaricaand LAMEA and Europe.

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The main players in the market

  • Altran

  • APTIV

  • AUTOCRYPT Co., Ltd.

  • Autotalks Ltd.

  • Continental AG

  • ESCRYPT

  • Green Hills Software LLC.

  • Harman International

  • ID Quantique SA

  • Infineon Technologies AG

  • karamba for security

  • NXP Semiconductor

  • Qualcomm Technologies, Inc.

  • SafeRide Technologies

  • Vector Information GmbH

The report analyzes these major players in the global V2X Cyber ​​Security Market. These players have adopted various strategies like expansion, new product launches, partnerships, etc. to increase their market penetration and enhance their position in the industry. The report is useful in identifying business performance, operating segments, product portfolio, and developments by each market player.

Similar reports we have on the cybersecurity industry:

Automotive cyber security market expected to arrive $32.41 billionAt a compound annual growth rate of 16.6% during 2021-2030

Railway cyber security market expected to arrive $14.69 billionAt a compound annual growth rate of 5.1% during 2021-2030

Military Cyber ​​Security Solutions Market By Platform, Application, Research Report 2020-2031

information about us

Allied Market Research (AMR) is a full-service market research and business advisory service of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides global institutions as well as medium and small businesses with unparalleled quality.”Market Research Reportsand “Business Intelligence Solutions.” AMR has a targeted vision to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their market space.

We are in professional institutional relationships with many companies and this helps us extract market data that helps us create accurate research spreadsheets and assures the utmost accuracy in our market forecasts. CEO of Allied Market Research pawan kumar It plays an essential role in inspiring and encouraging everyone associated with the company to maintain high data quality and help customers in every way possible to achieve success. All data presented in the reports published by us are extracted through preliminary interviews with senior officials of the leading companies in the respective field. Our methodology for acquiring secondary data includes in-depth online and offline research and discussions with knowledgeable professionals and analysts in the industry.

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