V2X Cybersecurity Market

Market Leaders - V2X Cybersecurity Market

The global V2X cybersecurity market size is projected to reach USD 2,798 million by 2025, from an estimated USD 659 million in 2020, at a CAGR of 33.5%. The base year for the report is 2019, and the forecast period is from 2020 to 2025. V2X technology in the automotive industry has witnessed rapid evolution with V2X providers joining hands with renowned technology providers, including telecom and IT companies, and; OEMs developing, testing, and offering advanced connected car technologies.

Increasing cyber-attacks in the automotive industry, the growing trend of connected and autonomous vehicle technologies, and; continuously changing V2X technologies and related security protocols/standards have compelled cybersecurity companies to develop security solutions for V2X communications. In this pursuit, automotive OEMs, V2X providers, and cybersecurity companies are exploring ways to develop advanced security solutions for the V2X system. Thus, significant R&D activities in V2X technologies are focused on secured software and hardware platforms. Also, many V2X providers around the world have partnered with renowned cybersecurity and IT companies to secure data and information exchanged through V2X technologies.

The V2X cybersecurity market is dominated by players such as ESCRYPT (Germany), OnBoard Security (US), Autotalks (Israel), AutoCrypt (Korea), and Green Hills SOftware (US). These companies developed new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth V2X cybersecurity market. However, COVID-19 has halted production and plunged sales and have forced key players in the global automotive field to buckle up and rethink plans. Businesses of majority of stakeholders in the V2X ecosystem have been affected, one way or the other. Most of the ongoing developments in this ecosystem have been suspended or stopped for a while as well. With such a complex ecosystem, the COVID-19 affects one or two stakeholders in the chain will result in the whole ecosystem suffering the impact.

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Asia Pacific is projected to lead the global V2X cybersecurity market in the forecast, as the region is home to many renowned cybersecurity companies such as AutoCrypt, Autotalks, and Argus. They are offering advanced software and hardware security solutions to secure V2X communications. The V2X ecosystem is now becoming the focus area for many non-automotive suppliers, as the value chain is fragmented among all types of industries. The cybersecurity solutions vary due to the use of different platforms in vehicles and differences in the electronic architecture, connectivity, and software. With the introduction of 5G technology in V2X applications, some of the telecom companies have entered the market, which might encourage many more companies to enter as well.

ESCRYPT is one of the leading players in the V2X cybersecurity market. The company is continuously offering new advanced security solutions compliant with optimum standards for innovative V2X technologies. The company also invests heavily in the development of security solutions for V2X technologies. For instance, in February 2019, the company unveiled a new pilot PKI for the CAR 2 CAR Communication Consortium (C2C-CC). The latest security standard version, which is compliant with both IEEE 1609.2 and ETSI, helps reduce the effort for onboard unit (OBU) vendors and operators. Also, in March 2020, the company announced a partnership with the Security division of NTT Ltd.

Continental, Autotalks, Green Hills Software, AutoCrypt, OnBoard Security, Harman, NXP, and Aptiv are some of the other players in this market. In February 2018, OnBoard Security announced its partnership with Nuvoton Technology to incorporate greater security into IoT. In September 2018, Autotalks announced the launch of the first-ever global V2X solution. Autotalks’ deployment-ready, 2nd generation V2X chipset is the only available solution capable of supporting both DSRC and C-V2X direct communications (PC5 protocol) at the highest security level. The chipset supports DSRC based on 802.11p/ITS-G5 standards and C-V2X based on 3GPP specifications. In June 2018, Harman unveiled a new dual-mode V2X system, aimed at enhancing automotive safety. The flexible telematics system features both software and hardware and taps into DSRC and 5G C-V2X networks, removing the guesswork for numerous safety system setups.

Related Reports:

V2X Cybersecurity Market 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, Vehicle Type, and Region - Global Forecast to 2025

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Report Code
AT 7702
RI Published ON
7/8/2020
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