Cyber threats remain the biggest hurdle for connected vehicles. Data leakage, hacking and false messages are some of the worst-case scenarios if V2X technology gets into the wrong hands, according to recent Frost & Sullivan research.

NXP told CNBC that its technology protects drivers by encrypting all data exchanged between vehicles.

But that may not be enough as Frost & Sullivan recommends greater integration with information technology companies like Cisco and IBM to build durable security solutions such as firewalls.