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Automotive Cybersecurity Market Growth by Key Players: Audi, BMW, BT Security, Cisco, Continental AG, Karamba Security, Symantec

08-15-2018 06:54 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Global Market Insights, Inc.

Global Market Insights, Inc.

Market Overview:-

Automotive Cybersecurity Market is anticipated to grow at a CAGR of over 23.5% from 2018 to 2024. This market is growing rapidly due to the rising advent of smart transportation systems. Smart transportation systems combine various innovative information and communication knowhows to form a network of systems, contributing to regulating traffic and changing the way users, organizations, and governments deal with transportation. Hence, automakers are developing ground-breaking technologies, making the trucks and cars safer than before. Connected and autonomous vehicles are the prominent examples of this pioneering technology.

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Connected vehicles offer various benefits such as better communication between vehicles, real-time traffic information, navigation, in-car infotainment, and enhanced fuel efficiency. However, as the vehicles become increasingly connected and automated with the outside environment, they tend to suffer higher cybersecurity threats. The hackers can get access to the vulnerabilities of the connected vehicle leading to the disclosure of the traveler?s personal information pertaining to his trip, financial condition, location, and other details. For instance, in February 2016, substantial security flaws were discovered in Nissan?s LEAF electric car. The vulnerabilities that were detected could enable hackers control the car?s features, such as internet browser, air conditioning or heating, and access information about the vehicle?s recent trips from any part of the world. Hence, protecting the connected vehicles from the rising vulnerabilities is of crucial importance.

Top Key Players:-

The companies functioning in the automotive cybersecurity market are investing in research and development strategies aimed at bringing about innovations in the automotive cybersecurity solutions. Some of the major vendors operating in the automotive cybersecurity market are Audi, BMW, Ford, Honda, Nissan, General Motors, Volvo Car Group, Volkswagen, BT Security, Cisco Systems, Lear Corporation, Symantec Corporation, Argus Cyber Security Ltd., Intel Security, Arilou Technologies Ltd., Continental AG, and Karamba Security.

Market share calculation in this report is not done based on companies covered in it. The calculation of automotive cybersecurity market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

Europe automotive cybersecurity market is witnessing a fast growth rate and is projected to reach USD 224 million by 2024. Germany dominates the European automotive cybersecurity market as it is the home to some of the leading automobile manufacturers including Ford, Volkswagen, BMZ, Audi, Mercedes-Benz, Opel, and Porsche. These companies are working with various software cybersecurity providers to increase the security offering aimed at maintaining passenger safety while traveling.

For instance, in 2016, Volkswagen collaborated with three Israeli cybersecurity experts to establish an automotive cybersecurity company aimed at making vehicles and their ecosystem highly secured against cyber-attacks. Furthermore, the governments are also investing funds and implementing stringent regulations to improve their automotive offerings. For instance, in 2015, the UK government announced a funding of USD 264 million in its budget for R&D activities for developing connected mobility solutions.

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Partial Chapter of the Table of Content

Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope
1.1.5. Definition
1.1.6. Methodology and research parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary

Chapter 2. Executive Summary
2.1. Automotive Cybersecurity industry 360º synopsis, 2014 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Security trends
2.1.4. Type trends
2.1.5. Application trends

Chapter 3. Automotive Cybersecurity Market Industry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2014 - 2024
3.4. Industry ecosystem analysis
3.5. Industry evolution
3.6. Industry architecture
3.7. Cybersecurity life cycle for vehicle protection
3.8. Types of automotive cyberattacks
3.9. Connected cars
3.9.1. Connected cars key trends
3.9.2. Connected cars vulnerabilities
3.10. Market news
3.11. Regulatory landscape
3.11.1. National Highway Traffic Safety Association(NHTSA)
3.11.2. European Union Agency for Network and Information Security (ENISA)
3.11.3. Australian Communications and Media Authority (ACMA)
3.11.4. National Cooperative Highway Research Program (NCHRP)
3.11.5. Emission Controls Manufacturers Association (ECMA)
3.11.6. Safer Journeys Action Plan
3.11.7. Bharat Stage emission standards
3.11.8. Goods Vehicles Licensing of Operators Act
3.12. Technology & innovation landscape
3.12.1. AI and ML-based cybersecurity to deal with real-time threats
3.12.2. Use of blockchain technology
3.12.3. Automotive Cloud Technology (ACT)
3.13. Industry impact forces
3.13.1. Growth drivers
3.13.1.1. Increasing requirement for cybersecurity in connected cars
3.13.1.2. Rising collaboration between the automotive and ICT industry
3.13.1.3. Rise in the market or Advanced Driver Assistance System (ADAS)
3.13.1.4. Growing advent of telematics and cellular network in automotive sector
3.13.1.5. Growing partnerships and funding’s for connected cars cybersecurity
3.13.1.6. Improvement in the consumer safety and mobility along with reduction in environment degradation
3.13.1.7. Growing government rules and regulations
3.13.2. Industry pitfalls & challenges
3.13.2.1. High initial investment expenses
3.13.2.2. Extended adoption rate in emerging markets due to low consumer acceptance
3.13.2.3. Big data increases complexity
3.14. Growth potential analysis
3.15. Porter's analysis
3.16. PESTEL analysis

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Furthermore, the growing advent of telematics and cellular network in the automotive sector also boosts the automotive cybersecurity market growth. The next-generation cars can make use of 5G networks to bring about communication with other vehicles and on-road sensors to shorten travel times, avoid collision, and reduce fuel consumption. These upcoming 5G networks are creating tremendous growth opportunities for the manufacturers of autonomous vehicles operating in the fields of data processing, management, and driver safety. It is expected that by 2022, autonomous vehicles will upload around one terabyte of vehicle data to the cloud per month as compared to about 25 gigabytes uploaded from connected cars in 2017. Hence, manufacturers and communication service providers need to ensure the safety of the vehicle against malicious attackers and take advantage of the benefits offered by these high-end connected vehicles.

The network security dominates the automotive cybersecurity market and is projected to generate a market revenue of USD 236.4 million over the forecast timescale. The in-vehicle networks carry a variety of personal and operational identifiable information such as microphone recording, location, and call and navigation history, due to which protecting the data and messages over the network bus is important for privacy and operational security. Moreover, network protocols, such as Local Interconnect Network (LIN), Controller Area Network (CAN), automotive Ethernet, FlexRay, Wi-Fi, 5G network, Bluetooth, and Dedicated Short-Range Communication (DSRC), also aggravate cybersecurity threats. Therefore, it is important to adopt improved security techniques by interacting with security-enhanced network protocols to provide authenticity, integrity, and reliability of transmitted data.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

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