|09-15-2018 09:21 PM CET - IT, New Media & Software||
Automotive Cybersecurity Market SWOT analysis & Technological Innovation by Leading Industry Players- Audi, BMW, Ford, Honda, Nissan, General Motors, Volvo Car Group, Volkswagen, BT Security, Cisco Systems, Lear Corporation, Symantec Corporation, Argus Cy
Press release from: marketstudyreport.com
The Global Automotive Cybersecurity Market 2018 report provides concentrated and in-depth analysis of the existing situation of the Global Automotive Cybersecurity industry, along with market share, revenue, assertive perception, and forecast 2024. The report is having high value as it is a source of direction for organizations and readers offering Business strategies, Industry chain structure and plan for new project investments.
Automotive Cybersecurity Market is projected to surpass USD 837.1 million by 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 cars features, such as internet browser, air conditioning or heating, and access information about the vehicles recent trips from any part of the world. Hence, protecting the connected vehicles from the rising vulnerabilities is of crucial importance.
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.
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The communication application is projected to reach USD 231.4 million by 2024 due to the various innovations in the automotive communication technology which include short-range communication, V2V, V2I, and vehicle to internet communication with the aid of embedded modems and Bluetooth-paired smartphones. As these devices are highly prone to cyber-attacks, it is essential to maintain secure communication between these devices and automobile?s interior ECUs. Hence, various automotive and software security providers are entering into strategic partnerships and collaborations to enhance the vehicular communication systems? safety and security. For instance, in January 2018, Honeywell entered into a memorandum of understanding with LG Electronics to develop an automotive software and infrastructure to address the rising risk associated with the connected vehicle technology. This collaboration will provide the automotive manufacturers enhanced cybersecurity solutions for communication within the vehicle and increasing safety for external communication through satellite and cellular connectivity.
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.
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.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Automotive Cybersecurity Industry Insights
Chapter 4. Competitive Landscape
Chapter 5. Automotive Cybersecurity Market, By Security
Chapter 6. Automotive Cybersecurity Market, By Type
Chapter 7. Automotive Cybersecurity Market, By Application
Chapter 8. Automotive Cybersecurity Market, By Region
Chapter 9. Company Profiles
More Details on this Report At: www.marketstudyreport.com/reports/automotive-cybersecurit...
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