V2X Cybersecurity Market

The V2X cybersecurity market is projected to grow from USD 43 million in 2023 to USD 778 million by 2030, at a CAGR of 51.3%. The demand for V2X cybersecurity solutions is expected to increase significantly, driven by increasing demand for fully autonomous driving and escalating concerns regarding vehicle safety. The significantly growing global automotive V2X market further bolsters its expansion. Robust governmental support for V2X technology and advancements in 5G technology are foreseen to create novel opportunities within the V2X cybersecurity market.

The V2X Cybersecurity Market is poised for substantial growth in the coming years, driven by several key factors:

• Rapid Adoption of Connected Vehicles
• Growing Concerns About Cyber Threats
• Regulatory Mandates and Standards
• Increasing Complexity of Automotive Systems
• Integration of Advanced Technologies
• Emergence of Connected and Autonomous Vehicles
• Partnerships and Collaborations
• Increasing Investment in Automotive Cybersecurity

These key factors collectively indicate a promising outlook for the V2X Cybersecurity Market, with substantial growth expected in the coming years as stakeholders across the automotive ecosystem prioritize cybersecurity and invest in advanced technologies and solutions to address evolving cyber threats in connected vehicles and infrastructure.

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• Rapid Adoption of Connected Vehicles: Cybersecurity solutions are becoming more and more in demand as connected cars with V2X communication capabilities become more widely used. Strong security measures are required to guard against unauthorized access, data breaches, and cyberattacks as a result of cars becoming more networked with infrastructure and one another. This also increases the potential attack surface for cyber threats.

• Growing Concerns About Cyber Threats: Stakeholders are more aware of the significance of cybersecurity in the automobile industry due to the increase in cyberattacks targeting automotive systems. Concerns over the possible safety and privacy hazards associated with V2X communication have been highlighted by high-profile episodes of vehicle hacking and cyberattacks on connected vehicles. As a result, investments in cybersecurity solutions have been made to reduce these risks.

• Regulatory Mandates and Standards: To address cybersecurity in connected vehicles and V2X communication, governments and regulatory agencies around the world are creating standards and rules. Automakers, suppliers, and technology providers are being compelled by regulatory mandates like the UNECE WP.29 regulations and industry standards like ISO/SAE 21434 to incorporate cybersecurity measures and guarantee adherence to security requirements, which is propelling market growth.

• Increasing Complexity of Automotive Systems: A complex and interconnected environment that is susceptible to cyberattacks is created by the abundance of electronic control units (ECUs), sensors, and communication interfaces found in modern cars. Demand for cybersecurity technology in the automotive industry is driven by the need to secure this interconnected network of automotive systems, which calls for complete cybersecurity solutions that include threat detection, prevention, and response capabilities.

• Integration of Advanced Technologies: The efficacy of V2X cybersecurity measures is being increased by the incorporation of cutting-edge technologies like blockchain, AI, and ML into cybersecurity solutions. While blockchain technology offers tamper-proof and decentralized security methods for data authentication and integrity verification, artificial intelligence (AI) and machine learning (ML) algorithms can analyze enormous volumes of data to find anomalies and identify potential security concerns in real time.

• Emergence of Connected and Autonomous Vehicles: Vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication is made possible by V2X communication technologies, which are crucial to the development and implementation of connected and autonomous vehicles (CAVs) and improve mobility, efficiency, and safety. Securing these interconnected networks of CAVs against cyber attacks is critical to ensure the safety of passengers, pedestrians, and other road users, boosting demand for cybersecurity solutions in the V2X ecosystem.

• Partnerships and Collaborations: To address cybersecurity concerns in the V2X ecosystem, government agencies, technology providers, automotive OEMs, and cybersecurity organizations are collaborating and forging partnerships. Through joint efforts to strengthen cybersecurity posture, these partnerships promote information exchange, creativity, and the creation of integrated cybersecurity solutions suited to the particular needs of connected cars and infrastructure. This leads to the expansion of the market.

• Increasing Investment in Automotive Cybersecurity: Research, development, and innovation in automobile cybersecurity are receiving substantial funding as the industry comes to understand cybersecurity as a top issue. Venture capital financing, government grants, and industry initiatives are encouraging the emergence of startups and cybersecurity firms specializing on automotive security solutions, fostering innovation and competitiveness in the V2X cybersecurity market.

V2X Cybersecurity Market Share - Global Industry Landscape

• Cybersecurity Solution Providers

• Automotive OEMs and Tier-1 Suppliers

• Telecommunication and Network Security Providers

• Government Agencies and Standards Organizations

These players represent key stakeholders in the V2X Cybersecurity Market, contributing to the development and deployment of cybersecurity solutions to protect connected vehicles and V2X communication networks against evolving cyber threats. Market share dynamics may vary depending on factors such as geographic region, industry partnerships, and technological innovation.

• Cybersecurity Solution Providers:
  • Karamba Security: specializes in automotive cybersecurity solutions, including solutions like intrusion detection systems and endpoint protection that are suited for V2X and connected car communication.
  • GuardKnox: offers automotive cybersecurity solutions, such as secure electronic control units (ECUs) for connected and driverless vehicles and platforms for secure service-oriented architecture (SSOA).
  • Argus Cyber Security (a subsidiary of Continental AG): provides intrusion detection and prevention systems (IDPS) and secure over-the-air (OTA) update platforms for connected cars as well as other automotive cybersecurity solutions.
  • Trillium Secure (acquired by Hitachi Astemo): delivers cybersecurity solutions, such as safe data management, threat detection, and vehicle health monitoring, for connected and autonomous cars.
  • Upstream Security: provides cloud-based cybersecurity solutions, such as anomaly detection, threat intelligence, and incident response capabilities, for fleets of connected cars.

• Automotive OEMs and Tier-1 Suppliers:
  • Continental AG: Continental, a top automotive supplier, provides intrusion detection systems, firewalls, and secure gateways that are integrated into the ECUs of connected cars.
  • Bosch Group: offers software updates, intrusion detection systems, and secure communication modules as cybersecurity solutions for connected and autonomous cars.
  • Harman International (a subsidiary of Samsung Electronics): provides over-the-air update services, vehicle monitoring systems, and secure telematics platforms as well as automotive cybersecurity solutions.
  • Aptiv PLC: offers intrusion detection software, cryptographic protocols, and secure networking modules as cybersecurity solutions for connected and autonomous cars.
  • NXP Semiconductors: Offers automotive-grade security solutions, including secure microcontrollers, communication modules, and cryptographic accelerators for V2X communication and vehicle security.

• Telecommunication and Network Security Providers:
  • Qualcomm Technologies, Inc.: offers solutions for cellular-based V2X communication, such as secure communication modules and 3GPP-compliant protocols for C-V2X (cellular-V2X) communication.
  • Nokia Corporation: provides V2X communication infrastructure solutions, such as software platforms for managing and deploying V2X communication and equipment for secure cellular networks.
  • Huawei Technologies Co., Ltd.: offers cybersecurity and V2X communication infrastructure solutions, including secure network gear, encryption software, and security management systems.
  • Ericsson AB: provides V2X communication networks with security operations centers, edge computing platforms, and secure radio access networks (RAN) among other cybersecurity solutions.
  • Cisco Systems, Inc.: offers intrusion prevention systems (IPS), secure routers, and firewalls as well as other network security solutions for V2X communication infrastructure to guard against online attacks.

• Government Agencies and Standards Organizations:
  • National Highway Traffic Safety Administration (NHTSA): establishes cybersecurity rules and criteria for automakers and suppliers, as well as safety norms and laws for connected cars and V2X communication.
  • European Telecommunications Standards Institute (ETSI): Develops standards and specifications for V2X communication protocols, including security protocols and cryptographic methods for safe V2X communication.
  • Society of Automotive Engineers (SAE): publishes technical standards and guidelines, such as suggested practices for threat modeling and safe V2X communication for connected cars, in the field of automotive cybersecurity.
  • International Organization for Standardization (ISO): creates worldwide automotive cybersecurity standards, such as ISO/SAE 21434, which offers recommendations for cybersecurity engineering in the car sector, including V2X cybersecurity.

Related Report

V2X Cybersecurity Market by Form (In-vehicle and External Cloud Services), Communication Type (V2I, V2V, V2G, and V2P), Security Framework (PKI and Embedded), Security type, Connectivity Type, Propulsion, Vehicle Type and Region - Global Forecast to 2030