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Rise in cybersecurity mandates, developments in cellular-V2X technology, and surge in automotive cybersecurity threat have boosted the growth of the global V2X cybersecurity market.
PORTLAND, Ore., Oct. 13, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “V2X Cybersecurity Market by Unit Type (On-Board Unit, Roadside Unit), by Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), by Propulsion Type (ICE, Electric and Hybrid, Others), by Communication (Vehicle-To-Vehicle , Vehicle-To-Infrastructure, Vehicle-To-Grid, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031″. As per the report, the global V2X Cybersecurity industry accounted for $0.72 billion in 2021, and is expected to reach $5.7 billion by 2031, growing at a CAGR of 21.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Download FREE Report Sample (353 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/12654
Major determinants of the market growth
Rise in cybersecurity mandates, developments in cellular-V2X technology, and surge in automotive cybersecurity threat have boosted the growth of the global V2X cybersecurity market. However, high cost of implementation and challenges in making secure applications hinder the market growth. On the contrary, rise in demand for connected vehicles and improving vehicle security using adaptive security would open new opportunities in the future.
Covid-19 scenario:
- The Covid-19 outbreak forced governments across the world to impose strict lockdown regulations and social distancing rules. Moreover, governments banned the import-export of non-essential raw materials, which created a huge gap in demand-supply.
- The production of automotive suffered major losses during the pandemic due to lack of skilled workforce and raw materials. On the other hand, while the pandemic hampered the operations of numerous companies, the number of cyber-attacks increased drastically. This increased the demand for cybersecurity .
- The pandemic accelerated the demand for connected mobility, autonomous vehicles, and smart cities, which created new opportunities for the V2X cybersecurity industry.
The on-board unit segment dominated the market growth
By unit type, the on-board…
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