The Europe V2X Cybersecurity Market would witness market growth of 19.5% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe V2X Cybersecurity Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $374.5 million by 2031. The UK market is exhibiting a CAGR of 18.5% during (2024 - 2031). Additionally, The France market would experience a CAGR of 20.5% during (2024 - 2031).
The V2X cybersecurity market is emerging as a critical component of the rapidly evolving automotive industry, driven by the increasing connectivity of vehicles, the growth of smart cities, and the development of autonomous transportation.
Moreover, the evolution of V2X technology is largely driven by the desire to enhance road safety and traffic management. By allowing vehicles to communicate with one another and their surrounding environment, V2X systems enable real-time decision-making that can prevent accidents, reduce traffic congestion, and improve fuel efficiency.
The V2X cybersecurity market in Europe is experiencing significant growth, driven by the region's leadership in automotive innovation, government initiatives, and cross-border collaborations. Moreover, securing V2X communication will ensure these systems' safety, efficiency, and reliability as EVs become more integrated into the continent's transportation and energy infrastructure. As per the data from the International Energy Agency, after the surge in 2020, electric vehicle sales in Europe increased by over 65 percent annually to 2.3 million in 2021.
Free Valuable Insights: The Global v2x Cybersecurity Market will Hit 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Connectivity
By Unit Type
By Communication
By Vehicle Type
By Country
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