According to a new report, published by KBV research, The Global V2X Cybersecurity Market size is expected to reach $5.7 billion by 2031, rising at a market growth of 19.9% CAGR during the forecast period.
The DSRC segment is leading the Global V2X Cybersecurity Market by Connectivity in 2023; thereby, achieving a market value of $3.5 million by 2031. The Dedicated Short-Range Communication (DSRC) segment is growing due to its long-standing presence in the automotive industry and its ability to provide reliable, low-latency communication between vehicles and infrastructure. DSRC's well-established technology infrastructure has made it the preferred choice for many automakers and transportation authorities, particularly for real-time safety communication applications.
The Roadside Unit (RSU) segment is anticipating a CAGR of 20.4% during (2024 - 2031). RSUs are installed along roadways and in traffic infrastructure to facilitate communication between vehicles and the surrounding environment. These units enable smart city initiatives, real-time traffic management, and the deployment of autonomous vehicle technologies. As the adoption of smart city infrastructure and intelligent transportation systems grows globally, RSUs are increasingly being deployed, creating a strong demand for robust cybersecurity solutions to protect these critical communication nodes from cyber threats.
The Passenger Car segment is generating the maximum revenue in the Global V2X Cybersecurity Market by Vehicle Type in 2023; thereby, achieving a market value of $3.5 billion by 2031, growing at a CAGR of 19.4 % during the forecast period. The increasing adoption of connected technologies in passenger cars and the rising demand for enhanced vehicle safety and autonomous driving features have driven significant investments in V2X cybersecurity. Passenger cars, the most commonly owned and utilized vehicles, generate large volumes of data and rely heavily on secure communication channels for various functions like navigation, vehicle control, and infotainment systems.
The Vehicle-to-Cloud (V2C) segment is registering a CAGR of 20.2% during (2024 - 2031). V2C communication connects vehicles to cloud-based platforms for various functions, including data storage, navigation, predictive maintenance, and over-the-air (OTA) updates. As vehicles become increasingly connected to cloud services, protecting the data exchanged between vehicles and cloud platforms has become a top priority for automakers and technology providers. The growing reliance on V2C for advanced vehicle functionalities and the need to safeguard this critical communication from data breaches and cyberattacks have driven strong demand for V2C cybersecurity solutions.
Full Report: https://www.kbvresearch.com/v2x-cybersecurity-market/
The North America region dominated the Global V2X Cybersecurity Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.9 billion by 2031. The Europe region is expected to witness a CAGR of 19.5% during (2024 - 2031). Additionally, The Asia Pacific region is expected to witness a CAGR of 20.5% during (2024 - 2031).
By Connectivity
By Unit Type
By Communication
By Vehicle Type
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