What is V2X Cybersecurity Market?
The global V2X cybersecurity market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The growing connected vehicles sector and the increasing amount of data being generated from existing vehicle communications are expected to be some of the major factors aiding the growth of the market. Moreover, the recent industry crisis caused by the COVID-19 pandemic has led to some serious market supply chain disruptions across the world is acting as one of the major challenges for the connected vehicles industry.
Highlights from V2X Cybersecurity Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | HARMAN International (United States), Escrypt (Germany), Autotalks (Israel), AutoCrypt (South Korea), Green Hills Software (United States), Onboard Security (United States), Aptive (Ireland), NXP Semiconductors (Netherlands), Infineon Technologies AG (Germany), Denso Corporation (Japan) and SafeRide Technologies (Israel) |
The vendors in this market are majorly focusing on providing enhanced products & solutions in order to cater to the market's demands to remain competitive in the market. The recent industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for this sector in the market due to lockdown measures across different regions that have impacted the automotive sector drastically. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global V2X Cybersecurity market throughout the forecasted period.
HARMAN International (United States), Escrypt (Germany), Autotalks (Israel), AutoCrypt (South Korea), Green Hills Software (United States), Onboard Security (United States), Aptive (Ireland), NXP Semiconductors (Netherlands), Infineon Technologies AG (Germany), Denso Corporation (Japan) and SafeRide Technologies (Israel) are some of the key players profiled in the study. V2X Cybersecurity Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Passenger Vehicles (LCV, MHCV) and Commercial Vehicles |
Type | Embedded and PKI |
Connectivity | DRSC,Cellular-V2X |
Unit | On-Board Unit,Road-Side Unit |
Communication | V2I,V2C,V2G,V2V,V2P |
On the basis of geography, the market of V2X Cybersecurity has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Deployment of IoT in Connected Vehicles
Market Growth Drivers:
High Growth in Connected Vehicles Market and A large Amount of Data Getting Generated & Threat of Cybersecurity Attacks
Challenges:
Lack of Skilled Professionals and Demand for Continuous Evolution in V2X Technologies
Restraints:
Lack of Infrastructure of V2X Market Across Emerging Countries
Opportunities:
Opportunities Across Asia Pacific Region
Market Leaders & Development Strategies
In March 2021, Harman International announced that it has completed the acquisition of Savari, a Silicon Valley-based automotive technology company developing vehicle-to-everything communications (V2X) technology in 5G Edge and automotive devices.
Analyst Comment
As the automotive industry has been facing a huge crisis worldwide due to the COVID-19 pandemic that has also led to disrupted supply chain and declined sales of automotive vehicles, the market vendors are expected to face some challenges over the next 2 years across the sector worldwide.