Press release
Automotive Cybersecurity Market By Leading Players: Audi, Argus Cyber Security, Arilou Technologies, BMW, BT Security, Cisco Systems, Continental AG, Karamba Security, Symantec Corporation, Daimler Trucks, Ford, GM, Honda, Nissan, Tesla Motors, Volvo Car
Automotive Cybersecurity Market
Cloud security is the fastest growing segment in the automotive cybersecurity market and it is projected that by 2024, approximately 30% of the vehicles globally will be deployed with cybersecurity cloud services. They examine and manage the fleets of vehicles through software such as management service, which enables them to assess the irregularities and identify unauthorized efforts to attack the connected vehicles. The automotive industry is making huge investments in the cloud technology to secure the automotive cloud environment.
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The passenger/consumer vehicles held 89.9% of the market share in 2017 and are projected to dominate the market over the forecast period. Cybersecurity plays a key role for consumers when they are purchasing the vehicle due to which various automotive manufacturers are working toward making cybersecurity a priority by adopting multi-layered security approach. Tier 1 companies and OEMs are using comprehensive solutions by combining innovative technologies and cybersecurity services, addressing the security challenges in connected passenger vehicles.
The commercial vehicle segment in automotive cybersecurity market is expected to grow at a CAGR of 34.5% over the forecast timeline as these vehicles play a major role in delivering the country’s goods and services and hence, protecting them from the rising cybercrime is a necessity. These vehicles also use relevant technologies to extend their connectivity and assist the businesses to enhance their working efficiency. It helps them in reducing fuel costs and increasing vehicular productivity boosting their demand.
Growth Drivers:
• Increasing requirement for cybersecurity in connected cars
• Rising collaboration between the automotive and ICT industry
• Rise in the market or Advanced Driver Assistance System (ADAS)
• Growing advent of telematics and cellular network in automotive sector
• Growing partnerships and funding’s for connected cars cybersecurity
• Improvement in the consumer safety and mobility along with reduction in environment degradation
• Growing government rules and regulations
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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.
The Asia Pacific automotive cyber security market is projected to grow at a CAGR of 33.3% over the forecast period due to the increasing demand for connected vehicles in this region. Increasing investments to develop advanced in-car services and connectivity infrastructure are also driving the automotive cybersecurity market demand. Moreover, increasing research in the fields of malware detection and improved software in connected vehicles are also contributing to the growth.
Browse key industry insights spread across 300 pages with 273 market data tables & 51 figures & charts from the report, Automotive Cybersecurity Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-cybersecurity-market
The prominent vendors present in the automotive cybersecurity market include Audi, General Motors, Ford, BT Security, Daimler Trucks, Arilou Technologies Ltd., Argus Cyber Security Ltd., BMW, Honda, Nissan, Cisco Systems, Inc, Tesla Motors, Lear Corporation, Continental AG, Karamba Security, Volvo Car Group, and Symantec Corporation.
Browse Related Reports:
Industrial Control Systems (ICS) Security Market By Component, Application and Region-Forecasts to 2024
Some of the key players operating in the ICS security market are BAE Systems, Cisco, ABB, Cyberbit, Belden, Fortinet, Dragos, Honeywell, Rolloos, Raytheon, SecurityMatters, Trend Micro, Claroty, Symantec, IBM, Kaspersky, FireEye, Schneider Electric, General Electric, McAfee, Nozomi Networks, and Bayshore Networks.
https://www.gminsights.com/industry-analysis/industrial-control-systems-ics-security-market
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