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V2X Cybersecurity Market worth $778 million by 2030 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Feb. 29, 2024 /PRNewswire/ — V2X Cybersecurity Market is projected to grow from USD 43 million in 2023 to USD 778 million by 2030, at a CAGR of 51.3%, according to a new report by MarketsandMarkets™. The advancement in connected car technology and the expansion of the automotive V2X market are key drivers contributing to the revenue growth in the V2X cybersecurity market. Furthermore, the increasing prevalence of cyber-attacks on a global scale, coupled with the escalating volume of data generated by vehicles, is anticipated to play a pivotal role in propelling market expansion. Additionally, the growing adoption of electric vehicles and advancements in autonomous vehicle development are expected to present favourable opportunities for the V2X cybersecurity market. The implementation of C-V2X (Cellular Vehicle-to-Everything), leveraging 5G technology, is enhancing connected mobility capabilities through V2X communication. The evolution of 5G technology and progress in autonomous vehicles is projected to establish a conducive environment for the widespread adoption of V2X cybersecurity solutions.

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Browse in-depth TOC on “V2X Cybersecurity Market”.

175 – Tables102 – Figures      276 – Pages

V2X Cybersecurity Market Scope:

Report Coverage

Details

Market Size

USD 778 million by 2030

Growth Rate

CAGR of 51.3%

Largest Market

Asia Pacific

Market Dynamics

Drivers, Restraints, Opportunities & Challenges

Forecast Period

2023-2030

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Form (In-vehicle and External Cloud Services), Communication Type (V2I, V2V, V2G, and V2P), Security Framework (PKI and Embedded), Security type, Connectivity Type, Propulsion, Vehicle Type and Region

Geographies Covered

Asia Pacific, Europe, North America, and RoW

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Increasing trend of connected and autonomous vehicle technologies prone to cyberattacks

Key Market Drivers

Large amount of data generated by vehicles and increasing cyberattacks

 

PKI segment is estimated to grow at a fastest rate during the forecast period.

Public Key Infrastructure (PKI) stands as a globally accepted technology for wireless communications, particularly in Internet of Things (IoT)-based automotive applications and autonomous vehicle technologies. A typical PKI system comprises essential components such as Certificate Policy, Root Certificate Authority (CA), Intermediate CA, Certificate Database, Revocation Services, and Digital Certificate. The incorporation of PKI technology in V2X communications offers significant advantages, given its scalability and capability for credential and access control management. Various companies provide PKI solutions based on standards like the Institute of Electrical and Electronics Engineering’s (IEEE) WAVE and the European Telecommunications Standards Institute’s (ETSI) ITS standards. The growing emphasis on autonomous mobility and increasing concerns about road safety globally are anticipated to drive the demand for On-Board Units (OBUs) and Roadside Units (RSUs). PKI solutions provide certificates for both OBUs and RSUs, with market growth tied to the increasing installation of RSUs and the penetration of V2X OBUs in vehicles. This trend is expected to contribute to the revenue growth of the PKI segment within the V2X cybersecurity market. Moreover, the rising focus on smart city projects is likely to boost the demand for RSUs, further supporting revenue growth in the V2X cybersecurity industry throughout the forecast period.

The V2P segment is expected to grow fastest in the V2X cybersecurity market during the forecast period.

The V2P cybersecurity market is projected to grow fastest during the forecast period. The primary driver for the V2P segment is the growing concern for pedestrian safety, prompted by a high pedestrian death rate in traffic accidents. This trend is expected to increase revenues in the V2P cybersecurity market. Notably, in the United States, the Centers for Disease Control and Prevention and the National Center for Injury Prevention and Control reported over 7,500 pedestrian fatalities in traffic accidents in 2022. The pedestrian fatality rate stood at 2.37 deaths per billion vehicle miles traveled (VMT) in the same year. The rise in traffic accidents involving pedestrians and a significant pedestrian presence is anticipated to drive market growth. V2P communications are closely associated with cyber threats, especially as the hacking of smartphones used for V2P communications is on the rise. Consequently, there is a growing demand for cybersecurity solutions to ensure the security of private communications and information.

North America is expected to have a significant share in the V2X cybersecurity market by 2030.”

The North American automotive industry stands as one of the fastest-growing sectors globally, housing major players such as Ford Motors, General Motors, and Fiat Chrysler Automobiles. The U.S. market, in particular, has shown a preference for passenger cars equipped with advanced comfort and safety technologies. American OEMs, including Ford Motors, General Motors, and Fiat-Chrysler Automotive, dominate the market, alongside established European and Asian OEMs such as Toyota (Japan), Nissan (Japan), Honda (Japan), Hyundai/Kia (South Korea), BMW Group (Germany), and Volkswagen Group (Germany). In the realm of V2X technologies, the U.S. holds prominence, contributing significantly to market growth with expanding application areas centered around connectivity. Consequently, the demand for cybersecurity solutions for automobiles in North America is anticipated to rise. The region is grappling with increasing traffic congestion, prompting a departure from traditional infrastructure expansion methods. Advanced solutions, such as connected car technologies for traffic and fleet management, have become crucial. This shift has been further fueled by the convergence of the ICT sector, automotive industry, and transportation sector, giving rise to the V2X ecosystem.

With the growing adoption of V2X technologies and heightened awareness of potential threats to this technology, the demand for automotive cybersecurity is poised to increase in the North American market. The North American Free Trade Agreement (NAFTA) has played a pivotal role in fostering the growth of the automotive and technology industries in the region. A substantial customer base and high disposable income make North America an attractive market for the entire automobile ecosystem. Ongoing advancements in safety regulations, such as discussions on the mandatory installation of rear-view cameras in the U.S. and deliberations on V2V communication mandates, are expected to propel the North American connected car market in the coming years. Additionally, the presence of key players in the V2X ecosystem, including Qualcomm, Savari, and Harman, is anticipated to contribute to the growth of the North American V2X cybersecurity market.

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Key Market Players:

The major players in V2X Cybersecurity Companies include ESCRYPT GmbH (Germany), Qualcomm Incorporated (US), Autotalks (Israel), AUTOCRYPT Co., Ltd. (Korea), Continental AG (Germany), among others.

Recent Developments

In January 2024, AUTOCRYPT and Cohda Wireless have formalized a Memorandum of Understanding (MOU) during CES 2024, outlining their collaborative efforts to develop a security-integrated Vehicle-to-Everything (V2X) solution.In June 2023, Autotalks and Infineon Technologies AG have formed a collaborative partnership to develop advanced Vehicle-to-Everything (V2X) solutions. In this collaboration, Infineon will contribute its automotive-grade HyperRam 3.0 memory to be integrated into Autotalks’ V2X reference designs, namely Tekton3 and Secton3.In May 2023, Qualcomm Incorporated declared that its subsidiary, Qualcomm Technologies, Inc., had entered into a definitive agreement to acquire Autotalks.In January 2022, AUTOCRYPT Co., Ltd. launched AutoCrypt SCMS Version 5.0, a Security Credential Management Security (SCMS) for Vehicle-to-Everything (V2X) communications and a crucial component of its AutoCrypt V2X security solution. The SCMS would be important for autonomous driving as it would sign and verify the messages transmitted through V2X communication to ensure safety and security.

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Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting

Related Reports:

Automotive V2X Market – Global Forecast to 2030

Connected Car Market – Global Forecast to 2026

Automotive Cybersecurity Market – Global Forecast to 2028

Railway Cybersecurity Market – Global Forecast to 2027

About MarketsandMarkets™:

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DKSH Healthcare and Euris Unveil CRM & MCE Platform “ConnectPlus” to Revolutionize APAC Healthcare Distribution

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DKSH Healthcare and Euris have launched “ConnectPlus”, a complete Customer Relationship Management (CRM) and Multi-Channel Engagement (MCE) platform set to transform healthcare distribution across APAC. This data-driven, agile solution enhances efficiency by providing a comprehensive view of healthcare professionals and optimizing omnichannel engagement strategies. From January 2025, ConnectPlus will strengthen DKSH Healthcare’s commitment to commercial excellence by boosting engagement with clients, customers, and patients across the healthcare ecosystem in Thailand.

SINGAPORE, Nov. 13, 2024 /PRNewswire/ — DKSH Healthcare Business Unit, in partnership with Euris, is introducing ConnectPlus, a data-driven Customer Relationship Management (CRM) and Multi-Channel Engagement (MCE) platform aimed at transforming healthcare distribution across the Asia Pacific region. Designed to enhance productivity and operational efficiency, this platform provides a 360° view of healthcare professionals, streamlines MCE, and strengthens DKSH Healthcare’s ability to tailor interactions and marketing strategies. The roll-out will start in Thailand in January 2025. With this new platform DKSH Healthcare reinforces its dedication to commercial excellence by enlarging possibilities and improving interactions with clients, customers, and patients.

Bijay Singh, Head of Business Unit Healthcare at DKSH, emphasized the transformative potential of ConnectPlus, “With ConnectPlus, we are not just improving our operations, we are setting a new benchmark for healthcare distribution across Asia Pacific. By integrating technology with our deep market expertise, DKSH Healthcare is enhancing its role as a strategic healthcare partner. This platform will not only empower our teams to engage more effectively with healthcare professionals but will ultimately contribute to better health outcomes by improving patients’ access to quality care. ConnectPlus represents a pivotal step in our journey toward data-driven excellence and reinforces our commitment to leading with agility in an evolving healthcare landscape.”

The introduction of ConnectPlus underscores DKSH Healthcare’s commitment to harnessing digital solutions that orchestrate and maximize impact of both client and patient interactions, while upholding a high standard of operational excellence. ConnectPlus empowers DKSH to tap into the vast potential provided by the global healthcare big data market[1] by delivering precise, targeted engagement strategies that cater to the unique needs of healthcare professionals, clients, and patients across the region.

Furthermore, ConnectPlus is strategically designed to leverage the existing preference of face-to-face sales visits[2], by orchestrating personalized digital touchpoints, based on data driven insights, to prepare and enhance in-person interactions. The platform’s ability to blend in-person and digital strategies is essential for maximizing outreach and driving meaningful engagement[3].

By integrating advanced AI and analytics, ConnectPlus not only streamlines communication and marketing efforts but also personalizes interactions based on real-time data, ensuring relevance and impact. This marks a crucial milestone in DKSH Healthcare’s journey towards fully integrating digital innovation into its operations, reinforcing its leadership in driving agility and efficiency within the rapidly evolving healthcare landscape.

Delphine Poulat, CEO at Euris, remarked, “As the partner of choice for healthcare stakeholders globally, we are thrilled to collaborate with DKSH Healthcare, who have chosen Euris SmartReps Suite, as the CRM & MCE platform for ConnectPlus. In today’s healthcare environment, personalized, data-driven interactions are critical. ConnectPlus is designed to provide DKSH Healthcare with the insights needed to understand their customers better, foster stronger face-to-face interactions, and ultimately drive sales growth. Our flexible, closed-loop marketing approach leverages data to deliver tailored content and deepen customer relationships, all while ensuring agility in meeting local market needs. We are proud to support DKSH Healthcare by offering a complete SaaS CRM & MCE platform putting the healthcare professional knowledge and experience at the center of the strategy.”

[1] Source: Patient engagement technology market to rise by $37.4b through 2028, https://healthcareasiamagazine.com/healthcare/news/patient-engagement-technology-market-rise-374b-through-2028 

[2] Source: Overcoming HCP Engagement Fatigue with Data-Driven Insights, https://www.pharmexec.com/view/overcoming-hcp-engagement-fatigue-with-data-driven-insights 

[3] Source: Did Pharma Overshoot Digital Sales Rep Calls? Study Charts Decline in Effectiveness, https://www.fiercepharma.com/marketing/did-pharma-overshoot-digital-sales-rep-calls-study-charts-decline-effectiveness#:~:text=Last%20month,%2044%%20of

About DKSH  

DKSH’s purpose is to enrich people’s lives. For almost 160 years, DKSH has been delivering growth for companies in Asia and beyond across its Business Units Healthcare, Consumer Goods, Performance Materials, and Technology. As a leading Market Expansion Services provider, DKSH offers sourcing, market insights, marketing and sales, eCommerce, distribution and logistics as well as after-sales services. DKSH is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. Listed on the SIX Swiss Exchange, DKSH operates in 36 markets with 29,040 specialists, generating net sales of CHF 11.1 billion in 2023. As a strategic healthcare business partner, DKSH Business Unit Healthcare distributes pharmaceuticals, consumer health, and over-the-counter products as well as medical devices. With around 8,140 specialists, the Healthcare Business Unit generated net sales of CHF 5.6 billion in 2023. www.dksh.com/hec

About Euris

Euris is an IT group specialized in healthcare and pharmaceutical industry operating in over 50 countries. Euris delivers a comprehensive IT value chain through 2 business units: Healthcare SaaS CRM edition & Integration and Health Data Hosting. Euris’ Suite of Commercial and Marketing excellence modules, named SmartReps®, is recognized among the best-in-class solutions in the Gartner Market Guide for CRM in Pharmaceuticals and Biotechnology. www.euris.com

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SOURCE DKSH

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Cisco and LTIMindtree Expand Partnership to Deliver Next-Generation Secure Access Globally

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News Summary:

LTIMindtree will leverage Cisco Secure Access as its new security service edge (SSE) solution to protect its 80,000 hybrid workers with secure internet access, advanced zero trust network access and embedded AI.Extending its networking partnership with Cisco, LTIMindtree now offers next-generation SSE to its global clients via Cisco Secure Access.Clients can work jointly with both companies to adopt a broad set of cloud security functions in a single, easy-to-use dashboard with Cisco Secure Access.

MELBOURNE, Australia, Nov. 12, 2024 /PRNewswire/ — CISCO LIVE — Cisco (NASDAQ: CSCO), the leader in enterprise networking and security, announced that LTIMindtree is now leveraging Cisco Secure Access as its security service edge (SSE) solution to enable secure hybrid work experiences for its employees and customers worldwide.

“With Cisco’s zero trust approach and embedded AI, it was an easy decision to replace our long-standing SSE solution with Cisco Secure Access,” said Nachiket Deshpande, Chief Operating Officer & Whole-time Director, LTIMindtree. “We were able to quickly deploy the solution, and it now protects our hybrid workforce while delivering a better user experience and simplified IT management.”

Cisco and LTIMindtree have also extended their partnership to deliver integrated Secure Access Service Edge (SASE) solutions based on Cisco technology to LTIMindtree’s global client base. LTIMindtree’s expertise in tailoring solutions to the specific vertical requirements is the perfect complement to Cisco’s technology, including Cisco Secure Access and SD-WAN, delivering seamless and secure connected experiences for both remote and in-office workers.

“Great workplaces require great security. With AI-powered threats rising, we are combating sophisticated attackers across a more expansive landscape. Our customers need their security to operate in the background, at machine scale to make the experience seamless and secure for hybrid workers,” said Jeetu Patel, Executive Vice President and Chief Product Officer, Cisco. “LTIMindtree’s rapid deployment of Secure Access is a great testament to Cisco’s platform strategy and differentiation. Together with our partners, we are changing what user protection means for a modern workplace.”

With Cisco Secure Access, decisions about how users connect to applications are handled behind the scenes via a unified agent, so users get to what they want more quickly. With low-latency connections and transparent identity-based authentication, users are more secure with less hassle. For IT organizations, Cisco Secure Access provides an easy pathway to zero trust and zero trust network access (ZTNA), while also simplifying operations with a unified console and AI-guidance. Secure Access is part of the Cisco Security Cloud, its unified, AI-driven, cross-domain security platform.

To learn more, visit cisco.com/go/security.

Additional Resources:

Introducing Cisco Secure Access

About Cisco
Cisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco.

Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco’s trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.

About LTIMindtree
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 84,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit https://www.ltimindtree.com/.

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SOURCE Cisco Systems, Inc.

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PixArt Imaging Unveils the “Magic Sensor”, PAC9001 Smart Pixel Optical Sensing Device: A Revolution in AI-Driven Sensor Technology

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HSINCHU, Nov. 12, 2024 /PRNewswire/ — As the demand for intelligent automation grows alongside AI and IoT, PixArt Imaging proudly introduces its latest innovation, the “magic sensor,” PAC9001 Smart Pixel Optical Sensing Device. Designed to revolutionize object presence detection across industries, the PAC9001 combines exceptional real-time performance and high efficiency in a compact, privacy-focused sensor.

The PAC9001 uses advanced AI-powered pixel processing to analyze visual information directly at the pixel level, a breakthrough that reduces data transmission needs and minimizes power consumption. This “smart” processing capability enables the PAC9001 to support rapid, high-accuracy applications in sectors such as retail, logistics, manufacturing, smart home, and PC peripherals. With its high sensitivity, the PAC9001 functions seamlessly even when concealed, providing essential insights without capturing identifiable images. This ensures enhanced privacy, making it ideal for settings like crowd control and security.

PixArt’s industry-leading expertise in imaging and sensor technology allows the PAC9001 to achieve low latency and energy efficiency while fitting effortlessly into devices, thanks to its compact module form of just W3.79 x L3.63 x H1.67 mm³. Its ability to detect and respond to object motion makes it invaluable in real-world applications, especially for edge devices requiring timely, precise sensing.

PixArt Imaging’s CEO, Sen Huang, commented, “Our vision is to enable smarter, more adaptive devices that transform the way we interact with technology. The PAC9001 represents our commitment to pioneering the next generation of sensor technology, combining the best of AI and pixel-level processing to deliver powerful, actionable insights. We’re thrilled to introduce this product to a world where privacy, efficiency, and real-time responsiveness have never been more important. Like a ‘magical’ presence working behind the scenes, the PAC9001 not only enables front-facing applications but also powers big data, enabling smart systems to collect valuable insights for user behavior predictions.

The PAC9001 also features PixArt’s proprietary Smart Motion Detection (SMD) and Pixel Difference Mode (PDM), enabling it to adapt to environmental changes and deliver high-precision data in varying lighting conditions, from bright daylight to darkness, at distances up to 5 meters. This advanced sensing capability ensures minimal false alarms compared to traditional PIR systems, making the PAC9001 a versatile and scalable solution for a wide range of industries and applications.

Combining advanced sensing, processing, and energy-saving technologies, the PAC9001 stands out as a game-changer for those seeking efficient, integrated solutions for next-generation smart devices.

For more information, visit PixArt Imaging

About PixArt Imaging Inc.

Founded in July 1998 and headquartered in Hsinchu, Taiwan, operates offices in the USA, Denmark, Malaysia, Japan, Korea, and China, providing services in IC design, R&D, manufacturing and sales. Specializing in sensing and navigation IC design, we focus on CMOS imaging, capacitive touch, MEMS sensing technologies to put into ASIC for human-machine interfaces and machine vision. Leveraging on our expertise in sensing and system design technologies, PixArt is strategically broadening our product lineup across diverse application markets. Our focus is on delivering top-tier image quality, optimizing for ultra-low power usage, compact designs, and seamless system-on-a-chip (SoC) integration; allowing us to drive innovation and meet evolving market demands in a versatile, energy-efficient, and highly integrated structure, positioning us to make impactful strides across varied technology sectors.

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SOURCE PixArt Imaging Inc.

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