The global automotive cybersecurity market size is expected to be worth around USD 16.43 billion by 2032, and it is registering at a CAGR of 18.15{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} from 2023 to 2032.
Ottawa, March 11, 2023 (GLOBE NEWSWIRE) — As per Precedence Research, the global automotive cybersecurity market size was valued at USD 3.1 billion in 2022. The most recent developments in connected and autonomous vehicles, as well as the rising number of electronic control units (ECUs) in electric vehicles, are driving the expansion of the automotive cybersecurity industry. Due to new manufacturing techniques and consumer-challenging technology, the automotive industry is facing a rapid revolution in cyber security that is being fueled by socioeconomic and environmental changes.
Report Highlights:
-
Asia Pacific region has accounted revenue share of 37{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} in 2022.
-
By vehicle type, the electric vehicle (EV) segment is poised to grow at a CAGR of 29{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} between 2023 to 2032.
-
By security type, the wireless network security segment has generated revenue share of 43{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} in 2022.
-
By security type, the application security has held revenue share of 35{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} in 2022.
-
By application, the infotainment segment has contributed revenue share of 37{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} in 2022.
-
By application, the ADAS & safety system segment is growing at a notable CAGR of 22{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} from 2023 to 2032.
Get the sample pages of report@ https://www.precedenceresearch.com/sample/2676
Market Overview
Cybersecurity is the defence against malicious assaults, damage, unauthorized access, and manipulation of automobile electronic systems, communication networks, control algorithms, software, users, and underlying data. The market for automotive cybersecurity is expanding as a result of rising demand for automotive cybersecurity solutions brought on by a rise in cyberattacks on the car industry. Cybercrime is on the rise, and it is anticipated that customer comprehension of information security will result in lucrative business opportunities. As a result, owners and organisations are urged to put automotive cybersecurity safeguards in place, which is what propels the sector.
The development of connected cars and the enforcement of vehicle data security regulations by regulatory bodies are expected to fuel further market expansion.
Regional Insights
Asia Pacific held 37{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} of the market in 2022 and is anticipated to continue expanding over the course of the forecast period. The number of cyberattacks has been rising steadily across APAC. Yet, a lack of security measures and the rising popularity of work-from-home policies have led to a rapid increase in cyberattacks. The two most prevalent kinds of cyberattacks are malware and ransomware assaults. The number of malware and ransomware attacks in APAC nations is still 1.6 times greater than worldwide. During 2018, ransomware assaults have increased in frequency across the globe. Cyberattacks on the auto industry have become more frequent as connected cars and digitization have proliferated. These attacks target the car and compromise crucial vehicle data, causing owners to incur significant losses.
Ask here for customization study@ https://www.precedenceresearch.com/customization/2676
Scope of this report
|
Report Coverage |
Details |
|
Market Size in 2032 |
USD 16.43 Billion |
|
Asia Pacific Revenue Share |
37{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} in 2022 |
|
Infotainment Segment Share |
37{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} in 2022 |
|
Wireless Network Security Segment Share |
43{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} in 2022 |
|
Key Players |
Vector Informatik GmbH, NXP Semiconductors N.V., Harman International, Broadcom Inc., Denso Corporation, Sheelds, Honeywell International, Inc., Continental AG, Guard Knox Cyber-Technologies Ltd., Robert Bosch GmbH and Others |
Report Highlights
Based on vehicle type, commercial vehicles, personal vehicles, and electric vehicles can all be classified as segments of the market (EV). The EV category dominated the market in 2022 and is expected to grow in the near future. The market has grown as a result of more people becoming aware of economic development and the downsides of operating hybrid automobiles. In addition, a few of municipal governments are providing subsidies to encourage the purchase of electric cars in anticipation of greater infrastructure development.
Based on security insights, security for endpoints, applications, and wireless networks are the market segments. With a majority of the market share in 2022, wireless network security dominated the market. During test runs, the Wi-Fi-based wireless technology enables automotive professionals to concurrently monitor hundreds of data channels to track vehicle operational parameters and modify the test as it is being carried out. A modern vehicle incorporates numerous information-sharing networks, including wireless channels, to enable a variety of application scenarios.
Based on application, ADAS & safety system, infotainment, body electronics, powertrain, and telematics are the several market segments for car cyber security. With a highest market share the infotainment section was the market leader. Throughout the forecast period, this segment is anticipated to increase significantly.
The whole automotive industry is working to develop cutting-edge technology to give better connectivity options, increase vehicle safety, and enhance the in-car user experience. The “In-Vehicle Infotainment System” is one of the key technologies that serves as the focal point of all modern automobile systems, integrating their operations so they can be managed and monitored from a single central unit.
Based on form, in 2022 the in-vehicle sector dominated the market. In-car-connected services are technologies that make it possible to connect internal vehicle systems to those found in remote locations or external systems. The modern vehicle’s most connected component due to its mobile connectivity. Car Makers have had to adjust to changing consumer demands, which has resulted in ever-more-advanced technologies.
Also, external cloud services are growing at the fastest rate due to improvements in cloud infrastructure and framework. Cloud services offer a very dependable technology, especially given the volume of data produced by driverless vehicles. Moreover, cloud technology will lead to a faster rate of information transfer as the number of cars and devices connected to the cloud rises.
Market Dynamics
Driver
Increase in need for automotive cybersecurity
The rising connectedness of vehicles to everything, including traffic signals, parking metres, other vehicles, and much more, is altering the automotive industry. The employment of new technologies is prevalent, with electrified vehicles, shared mobility, self-driving cars, and advanced driver assistance systems (ADAS) among them (EV). These technologies not only increase comfort and safety on the roads, but they also leave this complex and dynamic environment vulnerable to intrusions. As the ecosystem becomes increasingly integrated, attack points increase, exposing new vulnerabilities that hackers might employ to jeopardise user privacy, car safety, and the integrity of automotive data. The Upstream Security Automotive Cybersecurity Report 2020, produced by an Israeli cybersecurity business, provided in-depth analyses and statistics based on an examination of 633 events that were widely reported since 2010, of which 207 occurred in 2019.
Restraint
Growing diversity in the automotive domain along with the rising complexity of the security software
Due to the large range of automobile types and the numerous applications that can operate within a car, the automotive industry is growing more and more diverse. The variety and complexity of automotive cyber security systems increase as there are more manufacturers of automotive solutions. The market’s growth will be constrained by the inescapable rise in installation and maintenance costs for vehicle cyber security systems as complexity develops.
Opportunity
Enhancing vehicle security using adaptive security
Adaptive security is a type of cybersecurity system that looks at events and actions to stop and prepare for threats before they happen. A business can utilise an adaptive security architecture to provide proportional enforcement that can be increased or decreased while continuously analysing risk. With adaptive security, which many automobiles manufacturers lack throughout their operations, it is simple to defend a dispersed workforce.
Adaptive security uses analytics and automation to protect against targeted and opportunistic cyberattacks, as well as trusted insiders and other insider threats. Adaptive security also safeguards an automaker’s ecosystem, which is growing every day as a result of connected car activities. Hence, it is anticipated that an increase in adaptive security in the automotive industry will fuel growth of the global automotive cybersecurity market during the forecast period.
Challenge
Discrepancies related to pricing strategies among stakeholders
Due to the introduction of ancillary services like multimedia streaming Ecalls and remote diagnostics within connected cars, the entire ecology of the automotive industry is changing. The automobile ecosystem has evolved from being fixed to being dynamic, with each actor accounting for a portion of the revenue. The linked ecosystem’s pricing model has proven challenging to implement due to the presence of various players. With different pricing strategies, many firms struggle to strike a balance between complexity and expense. Currently, software companies utilise a variety of pricing models to make money. Experts in the area claim that cybersecurity solution providers struggle to implement the night pricing plan to boost profitability and decrease missed chances in a range of circumstances.
Recent Developments
-
In July 2021, in its EVlink line of electric vehicle charging stations, Schneider Electric fixed security issues that may have allowed DoS attacks.
-
In August 2021, Upstream, an automobile firm, raised $62 million in a Series C round to increase the scope of its cloud-based security offerings.
Market Segmentation
By Security Type
By Vehicle Type
-
Passenger Car
-
Commercial Vehicle
-
Electrical Vehicle
By Application
-
ADAS & Safety System
-
Infotainment
-
Body Electronics
-
Powertrain
-
Telematics
By Form
-
In-Vehicle Services
-
External Cloud Services
By Geography
Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2676
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333
About Us
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us:
https://www.linkedin.com/company/precedence-research/
https://www.facebook.com/precedenceresearch/
https://twitter.com/Precedence_R
