V2X Cybersecurity Market worth $2,798 million by 2025
                     MarketsandMarkets 
Presents
V2X Cybersecurity Market worth 
$2,798 million by 2025
https://www.marketsandmarkets.com/Market-Reports/v2x-cybersecu
rity-market-194480977.html
 
The report The report "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", 
The global V2X cybersecurity market size is projected to grow from USD 659 
million to reach USD 2,798 million by 2025, at a CAGR of 33.5%.
The growth of the V2X cybersecurity market can be attributed to the 
increasing trend of connected and autonomous vehicles equipped with V2X 
technologies and growing cyber threats in the automotive industry. The focus 
of automobile manufacturers has shifted from fuel efficiency, performance, 
driver safety, and stability of the vehicle to additional features such as 
vehicle connectivity, electrification of functions, and digitalization. This 
change in focus has created a huge opportunity for non-automotive industry 
players such as Intel, Qualcomm, and Nvidia, to name a few. OEMs, 
technology companies, and V2X providers worldwide have joined hands and 
are focusing heavily on research & testing of security applications/standards 
to protect data privacy.
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80977
 
Browse 106 market data Tables and 52 Figures spread through 195 
Pages and in-depth TOC on "V2X Cybersecurity Market”
The V2X cybersecurity is part of a complex ecosystem with multiple 
stakeholders, as the value chain is fragmented among all types of industries. 
Due to COVID-19, 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.
Asia Pacific is expected to be the largest and fastest-growing market 
in the forecast
The Asia Pacific region is projected to account for the largest share of the 
global V2X cybersecurity market during the forecast period. The region is 
home to renowned V2X cybersecurity companies such as Autotalks, 
AutoCrypt, and Argus Security. China is expected to be the most influential 
factor in the Asia Pacific V2X cybersecurity market. China has been 
conducting various tests and trails on cellular connectivity for V2X, and the 
expected country-wide launch is by 2021. The large market share of China 
can also be attributed to the high sales of the Mercedes-Benz E-Class, which 
is equipped with V2X, especially V2C and V2I. The Chinese government is 
committed to the growth of IoT with a great emphasis on the development of 
connected cars and has already invested more than USD 10 billion in the IoT 
industry since October 2010.  Apart from this, One of the key factors driving 
the growth of the market in Asia Pacific is the increased production of 
passenger cars with advanced connected car features. The increasing 
purchasing power of the population and increasing concerns over the 
environment have triggered the demand for V2X in Asia Pacific. 
Since South Korea and Japan are among the leaders in electronics, it would 
enable them to design V2X solutions with better performance at a lesser 
price. Thus, increasing V2X use in vehicles will result in high demand for 
cybersecurity solutions, thus, driving the Asia Pacific V2X cybersecurity 
market.
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4480977
 
The external cloud services segment is expected to be the largest 
market during the forecast
The external cloud services segment is projected to have the largest share in 
the V2X cybersecurity market. V2X communication security mostly requires 
external cloud services due to continuously changing security protocols, 
connectivity options, and cloud updates. With the increasing cloud-based 
applications, smart devices, and IoT penetration, the market for external 
cloud services has increased in the automotive market. Manufacturers are 
looking for cost-effective solutions along with better resource planning. Fleet 
management system, OTA, V2X, and other IoT applications and services are 
the major applications of external cloud services for the automotive market. 
The V2X, cybersecurity, and network providers have started creating their 
cloud servers to support secured V2X communications. With cloud-based 
security services, V2X messages can be kept encrypted and cannot be 
accessed without proper authentication. 
Cloud services help in maintaining certificate and security keys to keep V2X 
communications secured. Also, external cloud services for V2X cybersecurity 
are more feasible, as they are cost and time efficient (due to OTA updates).
The European region is expected to be the second-largest market 
during the forecast period
Europe is projected to be the second-largest V2X cybersecurity market as the 
regulations related to safety issues have become stringent. Therefore, the 
increasing demand for connected cars equipped with V2X technologies is 
likely to drive the V2X cybersecurity market in this region. Moreover, given 
the present infrastructure, the inclination of OEMs in the region and recovery 
from the financial crisis is likely to result in a high growth market, with 
Germany expected to be the fastest market in the region for connected cars 
and cybersecurity solutions. To strengthen the competitiveness of the EU 
automotive industry and preserve its global technological leadership, the 
European Commission supports global technological harmonization and 
provides funding for R&D. For instance, the German automotive industry is an 
internationally renowned innovation hub. Around 40% of the world’s premium 
car production takes place in Germany. 
The global V2X cybersecurity market is dominated by major players such as 
ESCRYPT (Germany), OnBoard Security (US), Autotalks (Israel), AutoCrypt 
(Korea), and Green Hills Software (US). 
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