Global automotive cybersecurity market was worth USD 1.44 billion in 2018. It is projected to grow at a compound annual rate (CAGR 21.4%) between 2019 and 2025. The increasing importance of OEMs in autonomous driving and connected cars has increased the risk of data breaches, which has fueled the need for cybersecurity solutions in this market. The market is also expected to grow due to the increasing use of e-mobility around the world.
The popularity of trends such as machine learning, robust connectivity, machine reading, HTML3D printing and social network will continue to grow. The automotive industry has made it possible to use Battery Management Systems (BMS), and sensors. This makes cybersecurity more practical and feasible. Technological advancements in semi-autonomous and autonomous vehicles have led to increased demand for automotive cybersecurity policies. This has resulted in the expansion of networking capabilities and increasing data.
The market has many opportunities with cloud and mobile computing technologies. There are many growth opportunities for the market, including open-car standard interfaces, mobile cross platforms and automotive data taxonomy, as well as development of a cloud-reliant software infrastructure. To enable smartphone support for autonomous vehicle systems, the industry is constantly evolving.
This will provide lucrative growth opportunities to implement intelligent transport systems. The market will be driven by rising malicious attacks and increased adoption of connected vehicles. Safety issues, generally accepted standards and financial implications are all factors that could hinder the market's growth.
Depending on the application, the automotive cybersecurity market is divided into the ADAS & Safety System, infotainment and body electronics, powertrain and telematics. In the coming years, infotainment will be the most important segment. ADAS & Safety System is expected to see healthy growth. This segment is witnessing breakthrough technological advancements in ADAS, autonomous driving technologies, and this is expected to increase the demand for a constant connection between the vehicle's ECU and several cloud services that improve sensor processing and vehicle maneuvering.
The market can be divided into three segments based on security: endpoint, wireless network security and application security. The most important segment is the wireless network. The segment will be driven by the rising need to protect network security through restricted device management in vehicle terminals. This is due to an increasing number of connected cars, which means there are high chances of attacks on network interfaces.
From 2019 to 2025, the application segment will experience the highest CAGR at 23.4%. According to the Japanese IPA vehicle security guide, the entire life cycle of a vehicle was revealed for both third-party and supplier security. Recent collaborations between ISO (Society of Automotive Engineers), and SAE (Society of Automotive Engineers), led to the creation of cybersecurity standards for automotive industry.
The market can be divided into three segments based on the type of vehicle: passenger cars, commercial vehicles, and electric vehicles (EV). The dominant segment is the passenger car. The fastest CAGR will be recorded in the EV market between 2019 and 2025, as potential markets such as the U.S., Europe, and Japan are seeing increasing sales of EVs. The segment is experiencing exponential growth, not only because of luxury cars or sports cars but also because of new energy vehicles. The recent launch of the Tesla Model 3 saw record sales in the U.S. The adoption of EVs is also encouraged by the lower cost of battery-operated cars, which in turn boosts the segment's growth.
The market can be divided into two segments based on services: external cloud and in vehicle services. The largest segment is in-vehicle service. In-vehicle service demand is increasing due to the increased use of endpoint apps, such as radio, smart antenna and mobile, in automobiles.
Due to the rapid development of cloud infrastructure, external cloud services are the fastest growing segment. Cloud services are highly reliable because autonomous cars generate large amounts of data. Cloud technology will also increase in popularity due to the increased number of connected devices and vehicles.
Open APIs allow for seamless data flow across all mobility systems, lifecycle management, data security, load balancing, and data security. It allows vehicle programming, remote diagnostics, monitoring, and service logging.
Due to high demand for cars, North America is the largest regional market. The region's growth will be driven by increased investments and the critical measures taken by the local government in order to combat cyberattacks on the automotive market. APAC is expected to be the second largest market because of the changing consumer lifestyle, increasing purchasing power, and rapid growth in urbanization. Germany was the European market leader in 2018, thanks to the presence of major automobile manufacturers such as Porsche, Audi and Ford, Opel (BMW, VW, Volkswagen, Mercedes-Benz) and Opel.
The following are some of the most prominent players in the automotive cybersecurity industry:
Argus Cyber Security Ltd.
Arilou Technologies
Vector Informatik GmbH
NXP Semiconductors N.V.
HARMAN International
Symantec Corporation
Denso Corporation
Honeywell International, Inc.
Guardknox Cyber-Technologies Ltd.
Up Market Research published a new report titled “Automotive Cyber Security Market research report which is segmented by Security (Application, Wireless Network), by Vehicle Type (EVs, Passenger), by Application (Powertrain, Infotainment), By Players/Companies HARMAN International, Arilou Technologies, Vector Informatik GmbH, Honeywell International Inc, NXP Semiconductors NV, Denso Corporation, Guardknox Cyber-Technologies Ltd, Symantec Corporation, Argus Cyber Security Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Automotive Cyber Security Market Research Report |
By Security | Application, Wireless Network |
By Vehicle Type | EVs, Passenger |
By Application | Powertrain, Infotainment |
By Companies | HARMAN International, Arilou Technologies, Vector Informatik GmbH, Honeywell International Inc, NXP Semiconductors NV, Denso Corporation, Guardknox Cyber-Technologies Ltd, Symantec Corporation, Argus Cyber Security Ltd |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 248 |
Number of Tables & Figures | 174 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Security (Application, Wireless Network), by Vehicle Type (EVs, Passenger), by Application (Powertrain, Infotainment).
Automotive Cyber Security Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Automotive Cyber Security Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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