Automotive Cyber Security Market, By Offering (Software, Hardware, By Security Type, Application Security, Network Security, Endpoint Security), By Application (ADAS and Safety, Body Control and Comfort, Infotainment, Telematics, Powertrain Systems, Communication Systems), By Form (In-Vehicle, External Cloud Services), By Region – Global Analysis Forecast Till 2030

The Worldwide Automotive Cyber Security Market is expected to grow from USD 6.5 Billion in 2021 to USD 29.2 billion by 2030, at a CAGR of 19.5% during the forecast period 2022-2030.

In 2019, the passenger vehicle forklift accounted for a larger share of the automotive cybersecurity market based on vehicle type. This is primarily due to the growing demand for cybersecurity solutions in these vehicles due to laws in many countries around the world that are suitable for the deployment of autonomous vehicles. For example, Europe has mandated some driving assistance features on vehicles. Therefore, increasing government support for autonomous vehicle adoption in the form of the introduction of mandatory regulations is driving the demand for cybersecurity software in passenger cars.

Cybersecurity is therefore required to prevent the misuse of consumer data and combat fraud. The development of more advanced vehicles and a decline in the number of wires utilised are being driven by the development of new technologies and rising consumer demand for automobiles. As a result, there is additional potential for data misuse and vehicle hacking. Manufacturers are concentrating on implementing cybersecurity in their automobiles, though, in order to stop fraudulent activities, thanks to technological advancements.

The government is taking severe efforts to safeguard the safety of consumers as public awareness of mobility, safety, and safety grows. To protect customers from cybercrime, new rules and regulations are being developed and put into effect. For customer protection, the government is also advising automakers to use cybersecurity in their vehicles. Due to the rise in cybercrime, new technologies are being deployed to lessen environmental degradation brought on by pollutants, which is what is driving the automotive cybersecurity industry.

Market Dynamics:

Drivers:

Commercial vehicles are more vulnerable to cyberattacks due to new trends in-vehicle connectivity and the burgeoning hybridization, electrification, and automation of automotive technology. These vehicles have emerged as an important part of the infrastructure during the pandemic. Policymakers and regulators around the world have created regulations and standards to ensure the security of these vehicles, which will drive future product sales.

One of the major trends we are witnessing in the market is the growing threat of cyberattacks and data breaches to consumers and automakers. As the penetration rate of connected systems in automobiles increases, various personal information such as address book, location information, and credit card numbers are entering and exiting the vehicle. Automakers are leading the advancement of the automotive cyber security market by installing security software in vehicles as they take full-scale responses to hackers and illegal theft of data stored in connected systems or cloud systems in vehicles.

Restraints:

The automotive cybersecurity market has a lot of international firms but few domestic ones, making it moderately fragmented. Key market participants have implemented a number of tactical measures recently to obtain a competitive edge, including product launches, alliances, and facility expansions.

Key players:

• Aptiv PLC

• Vector Informatik GmbH

• Continental AG

• Denso Corporation

• Arilou Automotive Cybersecurity

• Karamba Security

• Harman International

• Guardknox Cyber-Technologies Ltd.

• Robert Bosch GmbH

• SafeRide Technologies

• Upstream Security Ltd.

• Green Hills Software

Market Segmentation:

Automotive Cyber Security Market, By Offering

• • Software

  • Hardware

Automotive Cyber Security Market, By Security Type

• • Application Security

  • Network Security

  • Endpoint Security

Automotive Cyber Security Market, By Application

• • ADAS and Safety

  • Body control and Comfort

  • Infotainment

  • Telematics

  • Powertrain Systems

  • Communication Systems

Automotive Cyber Security Market, By Form

• • In Vehicle

  • External Cloud Services

Automotive Cyber Security Market, By Region

• • North America

    • US

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Russia

    • Italy

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • South Korea

    • Rest of Asia-Pacific

  • LAMEA

    • Latin America

    • Middle East

  • Africa

Regional Analysis

Regional analyses of the automotive cyber security market are done for the Asia-Pacific, North America, Europe, and Rest of the World. North America is one of the top regions in the market because of the numerous cross-industry collaborations between mobile network operators (MNOs) and automotive original equipment manufacturers (OEMs) that are replacing for continuous internet connectivity inside a car to enhance the user experience of connected living while driving.

As more SMEs and large companies in the area use cloud-based cyber security solutions, Asia-Pacific is becoming one of the important players in the market.

Scope Of the Report: 

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