Automotive Cyber Security Market,2018 - 2023 Analysis by Leading Players: Intel Corporation, Argus Cyber Security, Harman International Industries, Cisco Systems, NXP Semiconductors, Karamba Security

Market Synopsis
The market for global automotive cyber security is anticipated to touch USD 32 million by the end of 2023, as per a new report by Market Research Future (MRFR). The market for automotive cyber security is expected to flourish at 9 % CAGR during the assessment period (2017-2023).

Industry News: Elektrobit, a leading developer of embedded, cutting-edge, and connected technology solutions and products for the automotive industry has declared EB cadian Sync. Along with ARGUS Cyber Security, it allows car makers to keep their fleets updated securely and safely, regardless of the size. The software forms the basis for connected and automated cars and reduces the risk of security threats.

Competition Analysis
The key players operating the global market for automotive cyber security comprise Cisco Systems Inc. (U.S.), Escrypt Embedded Systems (Germany), Intel Corporation (U.S.), Karamba Security (Israel), NNG Software Developing And Commercial LLC. (Hungary), Secunet AG (Germany), NXP Semiconductors N.V. (Netherlands), Intel Corporation (U.S.), Harman International Industries Inc. (U.S.), Argus Cyber Security (Israel), and others.

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Drivers and Constraints Affecting the Market Growth
Connectivity has been witnessed to increase the productivity of vehicles and reduce fuel cost along with providing better transport experience that affects vehicles. Vehicles are the new targets for the cybercriminals, thus creating digital loopholes and surging the risk for data theft. This further leads to the growth of the automotive cyber security market. The need for cybersecurity is rapidly increasing in automotive industry owing to the growing threat of cyber-attacks in automotive and transportation systems. Moreover, the acceptance of advanced technology increasing adoption of telematics services in automobiles is also fuelling the market growth of automotive cyber security market globally. Moreover, with the presence of market players like BMW, Nissan, Mobileye, Toyota, GM, Ford, Daimler, Google, Audi, and others, the global market is sure to boom over the review period.

Meanwhile, the potential for car hacking is one of the major threats constraining the market growth. Moreover, any physical devices connected to the internet is at risk. Vehicles are nowadays more susceptible to cyber-attacks through wired and wireless connection. Hackers are becoming more efficient at penetrating cyber-attacks. This can be a major restraining factor affecting the market growth.

The growing connected ecosystems has made cars vulnerable to cyber-attacks. Fiat Chrysler Automobile recently experienced 1.4 million vehicles after suspecting a remote hack in Cherokee SUV, Jeep Grand Cherokee, and Dodge Ram Pickup vehicles.

Segments:

Automotive Cyber Security market for segment on the basis of Security Type, Vehicle Type and Application.

Automotive Cyber Security Market by Security Type:

Network Security
Endpoint Security
Application Security
Wireless Security
Cloud Security

Automotive Cyber Security Market by Vehicle Type:

Passenger Cars
Commercial Vehicles

Automotive Cyber Security Market by Application:

Telematics
On Board Diagnostic (OBD)
Infotainment
Communication Channels
Powertrain
Safety Systems
Others

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Intended Audience

Investors and consultants
System Integrators
Government Organizations
Research/Consultancy firms
Technology solution providers
IT Solution Providers
Original Equipment Manufacturers

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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This release was published on openPR.