V2X Cybersecurity Market

V2X Cybersecurity Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030

V2X Cybersecurity Market: Introduction

Increasing integration of connected technology in new-age vehicles raises the chances of a cyber attack and hence, various technologies are being developed to prevent such risks, which in turn is boost the market for connected vehicles
The market for cybersecurity is at the nascent stage and is anticipated to expand at a high growth rate during the forecast period due to an increase in investment for the development of connected vehicles, which are a major part of the autonomous and semi-autonomous vehicles

Key Drivers of V2X Cybersecurity Market

Rapid development for autonomous vehicles by major auto manufacturers and integration of connected technologies are anticipated to drive the market for V2X cybersecurity during the forecast period
More than 170 electronic, digital, and cyber-attacks were documented by Upstream Security in the U.S. in 2019, such attacks are anticipated to increase in the near future. Consequently, numerous software and automotive companies are collaborating to develop highly secured vehicle systems in order to assure the security of vehicles and passengers.
Rise in dependency on the internet is estimated to fuel the expenditure on cybersecurity which in turn is likely to drive the market for V2X cybersecurity
Connected vehicles are equipped with a large number of sensors, networks, and connectivity features that generate significant amount of data, which needs to be protected in order to prevent the leakage of one’s private data cybersecurity. This is estimated to boost the market significantly during the forecast period.

North America to dominate global V2X cybersecurity market

In terms of region, the global V2X cybersecurity market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is a leading region for V2X cybersecurity services owing to the presence of a large number of connected vehicles in the region. Additionally, expansion of key players, such as Tesla Inc., TuSimple, and Waymo, is anticipated to generate high demand for V2X cybersecurity encryptions and services.
Europe is another key market for V2X cybersecurity owing to the presence of all leading automakers in the region who are focused on the integration of connectivity technologies and artificial intelligence-based features. On the other hand, the market in Asia Pacific is anticipated to expand at a notable pace during the forecast period due to investments by the industry leaders in the region and availability of a large consumer base, which is expected to generate high demand for massive data availability.

Key Players Operating in Global V2X Cybersecurity Market

The global advanced automated guided vehicle is well-organized; however, it comprises a few leading manufacturers. Some key manufacturers operating in the global V2X cybersecurity market are: