Factors such as rising disposable income and growing preference towards connected cars would create lucrative growth prospects for the V2X Cybersecurity market across Asia-Pacific region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and presence of major market players in the region. The regional analysis of global V2X Cybersecurity market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. However Complex ecosystem with multiple stakeholders impedes the growth of the market over the forecast period of 2020-2027. Also, the year observed a doubled number of cyberattacks as compared to 2018, and around 82% of these attacks were remote attacks, which are carried out without physically accessing the vehicle. As per Upstream Security, the first quarter of 2019 witnessed around 51 cyberattack incidents which is over 300% as compared with Q1 of 2018. Moreover, the large amount of data generated by these vehicles and increasing cyber-attacks on vehicle data further fuels the market growth. According to Statista, the manufacturer of premium cars like Mercedes sold 319 thousand units in Germany in 2018, Volkswagen sold 643 thousand units and BMW sold 315 thousand units in 2018. For Instance: According to German Trade and Invest (GTAI) Germany reported to have 38% of the worlds premium car production and UK produced 7% of the total. The growing adoption of connected cars across the globe along with the rising investments in autonomous cars increases the demand for security of the messages send through these cars drives the market growth. These systems play a major role in the adoption of connected and autonomous vehicles as these are majorly dependent on networks, sensors and internet. V2X cybersecurity is the underlying infrastructure of secure, reliable, two-way authenticated messages send in this method of communications. This enables the vehicle to communicate with each other and with roadside equipment such as Traffic Signals. V2X communications involve direct vehicle to vehicle (V2V) and Vehicle to Infrastructure (V2I) method of wireless communication. Global V2X Cybersecurity Market is valued approximately at USD 1.0 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 26.8% over the forecast period 2020-2027.
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Get report to understand the structure of the complete Report (Including Full TOC, List of Tables & Figures, Chart). It places the market within the context of the wider V2x Cybersecurity market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, V2x Cybersecurity market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. It traces the market’s historic and forecast market growth by geography. Global V2x Cybersecurity Market Size Study, By Unit Type (Obu And Rsu), Form (In-Vehicle And External Cloud Services), Communication Type (V2i, V2v, V2g, V2c, And V2p), Security Type (Pki And Embedded), Connectivity Type (Dsrc, Cellular), Vehicle Type (Passenger Car, Commercial Vehicle) And Regional Forecasts 2020-2027 Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.