

Hence, there will be a massive requirement for cybersecurity for V2G communication. V2G is regarded among the most promising communications for EVs as it helps to balance the electricity demand and make EVs more profitable. Vehicle-To-Grid (V2G) transfers the electricity stored in electric vehicle (EV) batteries to the grid, houses, buildings, and other energy-consuming destinations. Hence, the increasing demand for EVs will support EV sales, which is expected to increase the need for V2X technology in the near future. After decades of R&D, the industry has found electric vehicles to be among the best suitable substitutes for traditionally fueled vehicles, which has resulted in the EV market’s growth. In addition, increasing pollution and the threat of global warming have accentuated the need to replace petroleum fuel vehicles with emission-free substitutes. This is owing to the increasing penetration of electric vehicles worldwide. Electric vehicles segment is estimated to be the promising segment in the V2X cybersecurity market during the forecast periodĮlectric vehicles is expected to be the promising segment by propulsion during the forecast period. Thus, increasing demand for V2X communication will lead to increase the need for secured communication. In North America, the US is expected to be the most attractive market as far as vehicle-to-everything technology is concerned. The market in North America is typically dominated by automotive OEMs such as General Motors, Ford Motor Corporation, and Fiat-Chrysler Automotive, paired with some established Asian as well as European automotive OEMs such as Nissan (Japan), Toyota (Japan), BMW Group (Germany), Hyundai/Kia (South Korea), Honda (Japan), and Volkswagen Group (Germany). This region is home to the big automotive OEMs namely General Motors, Ford Motors, and Fiat. The North American region is expected to have significant growth during the forecast period.

North America is expected to have significant growth during the forecast period. Furthermore, the increasing demand for connected car technology, in conjunction with increasing investments in autonomous vehicles by automotive OEMs such as Tesla (US), Ford Corporation (US), and Audi AG (Germany) would increase the demand for V2C solutions. Similarly, with upcoming advanced vehicles and an emphasis on infrastructure development, security requirements in V2V and V2I segments would also grow.
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The fact that the cloud stores all the personal/private data such as driver information, driving details, location, and vehicle details, thereby securing V2C communications, is one of the highest priorities for cybersecurity companies. The V2C segment of the V2X cybersecurity market is projected to be the largest segment during the forecast period. V2C segment is expected to be the largest market during the forecast period, by communication.
