The V2X Cybersecurity Market worth USD 4.60 Bn by 2029 Growth, Market Size, Regional Share, Trends, and Competitive Landscape
Pune, Jan. 10, 2023 (GLOBE NEWSWIRE) — The total Global V2X Cybersecurity Market is estimated to reach USD 4.60 Billion by 2029, up from USD 1.2 Billion in 2021, at a compound annual growth rate (CAGR) of 18.3 %, according to the ” V2X Cybersecurity Market” report released by Maximize Market Research.
V2X Cybersecurity Market Scope and Research Methodology:
The V2X Cybersecurity Market research provides a 360 degree industry landscape including key drivers, restraints, and opportunities. The global V2X Cybersecurity market research report also provides profiles of leading key players in the global market including company overview, financial snapshot, key products, technologies, Mergers and Acquisitions, and recent developments. Major competitors operating in the global market for V2X Cybersecurity included in the report. The global market for the V2X Cybersecurity report is segmented by geography into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Major countries in each region are addressed according to their revenue contribution to the global market. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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Global V2X Cybersecurity Market Overview
V2X Cybersecurity is also known as Vehicle to Everything. The technology is based on multiple communications such as Vehicle to Vehicle (V2V), Vehicle to Infrastructure (V2I), and digital wireless communication, which is referred as the V2X and provides safety and privacy solutions. The increasing integration of connected technology in new-generation vehicles increases the risk of a cyber attack, thus various technologies are being developed to prevent such threats, which in turn boosts the market for connected vehicles. The cybersecurity industry is currently in its initial stages and is expected to grow rapidly throughout the forecast period.
Global V2X Cybersecurity Market Dynamics
OEMs may now discover a variety of solutions in the automobile sector because of advancements in wireless communication technologies. The rising need for traffic safety and OEMs’ greater interest in V2X are expected to promote V2X innovation. High-speed communication is an important aspect of the vehicle-to-everything ecosystem. The benefits of 5G for automobiles would be felt only in cities if roads and highways were universally covered. The increasing demand from the V2X segment, which is being driven by advancements in connected vehicle technology, is allowing numerous stakeholders both inside and outside the automotive industry to benefit on market opportunities. V2X technology use is expected to rise in Japan, China, Germany, and the United States. The majority of manufacturers, notably Volkswagen (Germany), General Motors (US), and Toyota (Japan), began using IEEE 802.11p-based V2X technology in 2020. The automotive V2X market is also expected to be driven by increased public and regulatory concerns about vehicle safety, technological advancements, and reduced V2X technology costs.
One of the factors hampering the revenue growth of the V2X cybersecurity industry is a lack of infrastructure for the operation of V2X communication. The V2X technology and poor functionality are expected to have a negative influence on the growth of the V2X cybersecurity industry. The effectiveness of mobility business models that rely on reliable connections may be greatly impacted by a lack of 5G availability in rural regions.
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Global V2X Cybersecurity Market Regional Insights
Europe is likely to have considerable development in the V2X Cybersecurity Market during the forecast period. Europe has a significant potential opportunity for the V2X Cybersecurity Market, due to improved road infrastructure and increased C-V2X trials. Many tests and experiments have been conducted on C-V2X throughout the years. Several of these are in partnership with the 5GAA, an alliance of leading companies in the telecommunications, automobile, and technology sectors. Additionally, several of the top V2X cybersecurity suppliers are based in Europe, including ESCRYPT, Infineon Technologies AG, and Continental AG. These firms offer a robust product selection as well as global distribution networks.
Global V2X Cybersecurity Market Segmentation
By Security type:
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Global V2X Cybersecurity Market Key Competitors:
Key questions answered in the Global V2X Cybersecurity Market are:
What is the growth rate of the Global V2X Cybersecurity Market over the forecast period?
What is the nature of competition in the Global V2X Cybersecurity industry in developed economies and developing economies?
Which are the top five key players in the V2X Cybersecurity Market?
What will be the future innovation in the V2X Cybersecurity market in the upcoming six years?
Which Component and Delivery Model will lead the largest share of the Market?
What are the growth drivers, restraints, and challenges of the V2X Cybersecurity industry?
What will be the CAGR and size of the V2X Cybersecurity Market for the base year and forecast period?
Market Share, market size, its growth rates & Forecast by Revenue | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by Component, Delivery Model, Functionality, End User, and Region.
Competitive Landscape – Top Key players and Other Prominent Vendors
Maximize Market Research is leading research firm, has also published the following reports:
Industrial Cybersecurity Market– The market size of the Industrial Cybersecurity Market by 2029 is expected to reach US$ 28.07 Bn. The rise in cyberattacks on industrial control systems, rising industry demand for linked devices, and safeguarding against unauthorized access are driving market growth.
Artificial Intelligence in Cybersecurity Market – The Artificial Intelligence in Cybersecurity Market size is expected to reach USD 68.35 Billion by 2029. An exponential increase in cyberattacks on defense, government, and high-tech firms has highlighted the demand for advanced artificial intelligence (AI) cybersecurity solutions are boosting the market growth across the world.
Railway Cybersecurity Market – The Railway Cybersecurity Market size is expected to reach USD 16.19 Billion by 2029. Growing cybersecurity threats along with the adoption of IoT and automation technologies primarily driving the market growth.
Communication Intelligence Market– The market size of the Communication Intelligence Market in 2021 was valued at US$ 7.23 Bn. The market for COMINT solutions is expected to grow as massive data volumes are used more frequently and as defense departments throughout the world implement cutting-edge technologies like artificial intelligence in electronic warfare, machine learning, and 5G.
Cyber Security in BFSI Market– The Cyber Security in BFSI Market size is expected to reach nearly USD 195.54 Billion by 2029. Growing IoT and BYOD trends, an increase in physical and cyber risks to the BFSI sector, and an increase in the use of mobile device platforms and apps are driving market growth across the world.
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