V2X Cybersecurity Market to Reach USD 890.2 Million by 2030 Amid Strong Demand for Safer Roads

In 2023, the V2X cybersecurity market generated revenue of USD 47.6 million, and it is projected to grow significantly, reaching USD 890.2 million by 2030 with an impressive CAGR of 52.0% from 2024 to 2030. This rapid expansion is driven by advancements in V2X technologies and enhanced connectivity among vehicles, which improve safety and efficiency on the roads.

Cellular vehicle-to-everything (C-V2X) technology allows vehicles to communicate with each other and surrounding infrastructure through a unified cellular platform, creating safer and more efficient driving conditions. By enabling smoother traffic flow and supporting autonomous driving, C-V2X is considered essential for connected and autonomous vehicles.

Vehicles equipped with C-V2X can access real-time traffic updates from other C-V2X-enabled vehicles, allowing them to navigate toward less congested routes, thereby enhancing traffic efficiency. However, this interconnectivity also introduces potential vulnerabilities in cybersecurity.

Machine-to-machine (V2X) communication plays a critical role in road safety by enabling real-time interactions between smart vehicles. This technology helps prevent collisions as vehicles detect obstacles in their path and adjust accordingly, warning drivers of potential hazards.

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Key Market Insights:

• DSRC Technology: In 2023, Dedicated Short-Range Communication (DSRC) held a market share of around 65%, allowing direct communication between vehicles without intermediary networks. This ensures faster information flow and enhances communication reliability, even in adverse weather.

• Cellular Communication: Cellular V2X communication is expected to grow at a CAGR of 52.3% from 2024 to 2030, driven by advancements in 5G and increased emphasis on cybersecurity in transportation.

• V2V and V2G Communication: V2V communication had a 40% share in 2023 due to the rise in telematics systems, while V2G communication is forecasted to grow fastest with a 52.7% CAGR, as it supports seamless energy exchange between vehicles and the grid.

• Endpoint Security and On-board Units (OBUs): Endpoint security dominated with a 50% share in 2023 by ensuring compliance before devices connect to networks. OBUs are essential for secure communication, featuring encryption and authentication protocols.

• Public Key Infrastructure (PKI): Holding an 80% share in 2023, PKI provides robust security with encrypted authentication in V2X communication, safeguarding against cyber threats.

• Regional Insights: APAC led the market in 2023 due to high V2X-equipped vehicle sales, while North America is predicted to grow fastest, with a CAGR of 53.0%, due to strong demand for automotive cybersecurity and a well-established IT infrastructure.

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