New Report on Automotive Cyber Security Market - Drivers, Restraints, Opportunities and Challenges for 2023

The report analyzes and forecasts automotive cyber security market size, by value (USD million), of the automotive cyber security market. The report segments this market and forecasts its size, by region, form, security, application, vehicle, and electric vehicle. The report also provides a detailed analysis of various forces acting in the market including drivers, restraints, opportunities, and challenges.

Automotive cyber security market report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise & discuss basic views on emerging & high-growth segments of automotive cyber security market, high-growth regions & countries, government initiatives, & market dynamics like drivers, restraints, opportunities, & challenges.

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Automotive cyber security market is projected to grow at a CAGR of 23.16% during the forecast period, from USD 1.34 billion in 2018 to USD 5.77 billion by 2025. Growing number of connected cars & electronic content per vehicle & reinforcement of mandates by regulatory bodies for vehicle data protection are driving automotive cyber security market.

The increasing number of cloud-based applications in automotive industry and technological advancements in autonomous vehicle space are expected to create opportunities for automotive cyber security market in coming years. However, high cost involved in automotive cyber security and complex ecosystem with multiple stakeholders are a few restraining factors for automotive cyber security market.

Key Target Audience
• Automotive cyber security manufacturers
• Automobile organizations/associations
• Compliance regulatory authorities
• Government agencies
• Investors and Venture Capitalists (VCs)
• Raw material suppliers for automotive cyber security
• Traders, distributors, and suppliers of automotive cyber security

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The automotive cyber security market is segmented by form, security, application, vehicle, electric vehicle, & region. Report discusses two form types, namely, in-vehicle and external cloud services. In-vehicle segment accounts for largest share of this market. This segment is driven by factors like increasing use of endpoint applications such as mobile, radio, & smart antenna in vehicles in developing economies & rising demand for in-vehicle applications such as telematics, ADAS, and infotainment.

The break-up of the primaries is as follows:
• By Company Type: Tier 1:55%, Tier 2:25%, Tier 3:20%
• By Designation: C level:48%,Manager level:36%,Other:16%
• By Region:Europe:36%, North America:30%, Asia Pacific:24%, RoW:10%

Automotive cyber security market consists of manufacturers such as Harman (US), Continental (Germany), NXP (Netherlands), Escrypt (Germany), and Vector (Germany), as well as research institutes such as Japan Automobile Manufacturers Association (JAMA), European Automobile Manufacturers Association (ACEA), Canadian Automobile Association (CAA), and Korea Automobile Manufacturers Association (KAMA).

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Asia Pacific market is estimated to hold the largest market share and is estimated to grow at a significant CAGR during the forecast period. The market growth in the region can be attributed to the increase in vehicle production and rising adoption of connected vehicles. Expansion of leading OEMs and automotive component suppliers in developing economies such as China and India is also projected to drive the market growth in this region.

The report provides insights into the following points:
• Market Penetration: The report offers comprehensive information about the automotive cyber security market and the top 10 players in the market.
• Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive cyber security market.
• Market Development: The report offers comprehensive information about the automotive cyber security market. The report analyzes the automotive cyber security market across regions and provides comprehensive information about lucrative emerging markets.
• Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive cyber security market.

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This release was published on openPR.