A new market study, titled “Global V2X Cybersecurity Market Size study, by Unit Type (OBU and RSU), Form (In-vehicle and External Cloud Services), Communication Type (V2I, V2V, V2G, V2C, and V2P), Security Type (PKI and Embedded), Connectivity Type (DSRC, Cellular), Vehicle Type (Passenger car, Commercial Vehicle) and Regional Forecasts 2020-2027” has been featured on WiseGuyReports.
Global V2X Cybersecurity Market is valued approximately at USD 1.0 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 26.8% over the forecast period 2020-2027. V2X communications involve direct vehicle to vehicle (V2V) and Vehicle to Infrastructure (V2I) method of wireless communication. This enables the vehicle to communicate with each other and with roadside equipment such as Traffic Signals. V2X cybersecurity is the underlying infrastructure of secure, reliable, two-way authenticated messages send in this method of communications. These systems play a major role in the adoption of connected and autonomous vehicles as these are majorly dependent on networks, sensors and internet. The growing adoption of connected cars across the globe along with the rising investments in autonomous cars increases the demand for security of the messages send through these cars drives the market growth. For Instance: According to German Trade and Invest (GTAI) Germany reported to have 38% of the worlds premium car production and UK produced 7% of the total. According to Statista, the manufacturer of premium cars like Mercedes sold 319 thousand units in Germany in 2018, Volkswagen sold 643 thousand units and BMW sold 315 thousand units in 2018. Moreover, the large amount of data generated by these vehicles and increasing cyber-attacks on vehicle data further fuels the market growth. As per Upstream Security, the first quarter of 2019 witnessed around 51 cyberattack incidents which is over 300% as compared with Q1 of 2018. Also, the year observed a doubled number of cyberattacks as compared to 2018, and around 82% of these attacks were remote attacks, which are carried out without physically accessing the vehicle. However Complex ecosystem with multiple stakeholders impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global V2X Cybersecurity market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and presence of major market players in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income and growing preference towards connected cars would create lucrative growth prospects for the V2X Cybersecurity market across Asia-Pacific region.
Major market player included in this report are:
Green Hills Software
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Unit Type:
External Cloud Services
By Communication Type:
By Security Type:
By Connectivity Type:
By Vehicle Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global V2X Cybersecurity Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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