V2X Cybersecurity Market Size Worth $6.27 Billion By 2032 | CAGR: 18.4%

The global V2X cybersecurity market size is expected to reach USD 6.27 billion by 2032, according to a new study by Polaris Market Research. The report “V2X Cybersecurity Market Share, Size, Trends, Industry Analysis Report, By Unit (On-Board Units and Roadside Units); By Communication; By Security Type; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Significant rise in the number of cyberattacks on the automotive sector and growing consumer penetration and demand for electric vehicles incorporated with connected car technologies and autonomous vehicle technologies along with the development of innovative devices by key players, are among the prominent factors fueling the global market growth.

The C-V2X technology offers significant mobility benefits and transportation safety and is also highly vulnerable to cyberattacks, which could impact the user privacy, safety, and traffic is expected to gain high traction and demand.  For instance, in July 2022, Autotalks, introduced their first V2X chipsets named TEKTON3 & SECTON3.

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Electric vehicles are being increasingly exposed to remote digital threats wide large range of new attack scenarios, hence major Original Equipment Manufacturers (OEMs) and key suppliers across the globe are significantly focused on building comprehensive protections into their ecosystem, as cybersecurity is an integral part of electric vehicle ecosystem and also to comply with the latest United Nations regulations.

With several new advances including autonomous, connected, shared, and electrified are in the trend, the cars are consistently getting more and more smarter every day in terms of functionalities such as intelligent dashboard and advanced automated driving. Additionally, several features like multi-display interaction, multi-modal interaction, V2X, OTA, and digital keys are becoming normal in the connected cars, the market is witnessing positive growth in the coming years.

Europe region is expected to be the fastest growing region with a healthy growth rate during the projected period, owing to robust presence of various leading automakers and their growing focus towards the integration of connectivity technologies and several artificial-based features especially in developed countries like Germany, France, and UK.

V2X Cybersecurity Market Report Highlights

• On-board units segment dominates the market share in 2022, which is mainly driven by its ability to have better control on vehicles and surging requirements for most of the vehicle communications
• Vehicle to vehicle segment held the maximum market revenue share in 2022, on account of its increasing adoption worldwide due to rising concerns regarding the road safety
• Cloud security segment is projected to hold substantial market share over the forecast period, mainly due to several benefits associated with this security type for both drivers and passengers
• Asia Pacific region dominated the global market with largest market share in 2022, owing to growing demand for improved safety features in vehicles and presence of large manufacturing facilities in the region
• The global key market players include Infineon Technologies, Vector Informatik, STMicroelectronics, Lear Corporation, Harman International, Green Hills Software, and Saferide Technologies

Polaris Market Research has segmented the V2X cybersecurity market report based on unit, communication, security type, and region:

V2X Cybersecurity, Unit Outlook (Revenue - USD Billion, 2019 - 2032)

• On-Board Units
• Roadside Units

V2X Cybersecurity, Communication Outlook (Revenue - USD Billion, 2019 - 2032)

• Vehicle to Vehicle
• Vehicle to Infrastructure
• Vehicle to Pedestrian
• Vehicle to Grid
• Vehicle to Cloud
• Others

V2X Cybersecurity, Security Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Endpoint Security
• Software Security
• Cloud Security

V2X Cybersecurity, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

V2X Cybersecurity Market Report Scope