The Asia Pacific V2X Cybersecurity Market would witness market growth of 20.5% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific V2X Cybersecurity Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $429.8 million by 2031. The Japan market is showcasing a CAGR of 19.8% during (2024 - 2031). Additionally, The India market would register a CAGR of 21.4% during (2024 - 2031).
The increasing adoption of connected vehicles, which utilize V2X technology to communicate with each other and surrounding infrastructure, is rapidly transforming the automotive landscape. These vehicles have numerous sensors, communication interfaces, and onboard systems, allowing real-time data exchange and enhancing road safety, traffic management, and driving efficiency.
Additionally, from 2018 to 2021, the incidence of cyber-attacks on vehicles increased by over 200 percent, as indicated by industry reports. The number of targets is anticipated to continue to increase as the number of connected automobiles on the road worldwide surpasses 860 million in 2035.
As one of the fastest-growing automotive markets in the world, India is experiencing a surge in the development of connected and electric vehicles. Numerous initiatives have been implemented by the Indian government to advance smart mobility, such as the "National Electric Mobility Mission Plan (NEMMP)" and the "FAME" (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) Program. As per the 2023 Union Budget, the government has raised the budget allocation for FAME II by 78%. All of these policies are designed to encourage the widespread implementation of intelligent transportation systems and electric vehicles.
Free Valuable Insights: The Global v2x Cybersecurity Market is Predict to reach USD 5.7 Billion by 2031, at a CAGR of 19.9%
Based on Connectivity, the market is segmented into DSRC and Cellular. Based on Unit Type, the market is segmented into On-board Unit (OBU) and Roadside Unit (RSU). Based on Communication, the market is segmented into Vehicle-to-Vehicle (V2V), Vehicle-to-Cloud (V2C), Vehicle-to-Infrastructure (V2I), and Vehicle-to-Pedestrian (V2P). Based on Vehicle Type, the market is segmented into Passenger Car and Commercial Vehicle. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Connectivity
By Unit Type
By Communication
By Vehicle Type
By Country
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