A12289 | Pages: NA | Jul 2022 | 1488 Views | ||
Author(s) : Sonia Mutreja | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the V2x Cybersecurity Market
Request Now !Vehicle-to-everything (V2X) it refers to vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications, it is a wireless technology used to exchange data between vehicle and surroundings. V2X communications system improves the driver awareness of upcoming potential dangers and improving collision avoidance which might result into severe fatalities or injuries. Moreover, it facilitates communication between roadside units and traffic monitoring which delivers warning about hazardous situations. With the introduction of connected technology in new-generation vehicles the chance of cyber-attack is also increases. Thus, various technologies are being developed to prevent such risks. The market for cybersecurity is at an early stage of R&D so it is anticipated to expand at a high growth rate in coming years. Moreover, there is an increased investment in the production of connected vehicles thus, increase in the demand for cybersecurity. V2X cybersecurity requires external cloud services due to continuously changing security protocols & cloud updates to store data and provide better security.
Market Scope and Structure Analysis:
Report Metric | Details |
 Market size available for years |  2020–2030 |
 Base year considered |  2020 |
 Forecast period |  2021–2030 |
 Forecast units |  Value (USD) |
 Segments covered | Unit Type, Form, Communication Type, Security Type, Connectivity, and Region |
 Regions covered | North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
 Companies covered | AUTOCRYPT, Autotalks Ltd., ESCRYPT, HARMAN International, ID Quantique, IDnomic, Infineon Technologies AG, Karamba Security, NXP Semiconductors, and Vector Informatik GmbH |
COVID-19 Impact Analysis:
Due COVID-19 pandemic the government of major countries have announced lockdown which has led to business shutdown and economic slowdown. Due to the lockdown all the automobile factories have halted their production. Thus, directly affecting the demand and supply of V2X providers. Moreover, due to lockdown the electronic components required for V2X manufacturing was also not available thus its production was also disrupted. Furthermore, since the demand of V2X also fell the requirement for V2X cybersecurity was affected. In addition, due to social distancing norms there was unavailability of skilled personnel for software work required for V2X cybersecurity. V2X cybersecurity is an evolving sector but the pandemic had a negative impact on the growth of V2X cybersecurity market. Â
Top Impacting Factors
Market Trends
Rise in cyber-attacks on automotive industry
The advanced V2X communication system is an integral part for developing connected and autonomous vehicles. It uses a number of connectivity options, networks, sensors, and devices that produces large amount of data to be analysed. This data must be protected else hackers can get hold of it and misuse the data. Moreover, if there is an attack the hackers can get access to all the data related to driver, infrastructure, cloud, and vehicle after breaching into the system since, all the information is stored on cloud. Thus, the rise in amount of data has increased the number of cyberattacks in automotive field. For instance, according to upstream security in first quarter of 2019 there were 51 cyberattack which is over 300% compared to first quarter of 2018. Furthermore, in 2019 the cyberattacks were doubled compared to 2018 and approximately 82% of the attacks were remote attacks. In addition, on March 2020 Autocryt revealed an advanced version of its basic safety message (BSM) verification V2X technology which enhanced speed and accuracy. The rise in cyber-attacks is expected to drive growth of V2X cybersecurity market.
Rise in demand for connected & autonomous vehicles
V2X plays an important role in connected & autonomous vehicle it collects and share real-time data with the vehicle for better operation. The demand for autonomous vehicles is increasing since it will increase the safety by reducing the accidents caused by human errors. For instance, companies such as Mercedes, Ford Motors, and Tesla are investing heavily in R&D of autonomous vehicle. Thus, with the advent of autonomous vehicle the cyber-attacks are also increasing which is expected to drive growth of V2X cybersecurity market.          Â
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Key Benefits of the Report:
Questions answered in the V2X cybersecurity market research report:
Key Market Segments
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Key Market Players
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