49.5% CAGR growth by 2023 in Cybersecurity Market for Cars| Dominant Players - Intel Corporation, Karamba Security, Lear Corporation, Escrypt GmBH, Continental AG, Infineon Technologies AG, Cisco Systems Inc., amongst others

Market Analysis:

Japan to Register the Fastest Growth
The connected cars market in Japan is expected to register robust growth with the first AD-Level 2 commercialized vehicle in the passenger car market. Since the automotive sales have witnessed a decline, the automotive OEMs are opting for new revenue streams, which include connected cars.

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The automotive industry is undergoing a wave of innovation and with the advent of groundbreaking technologies, such as the Internet of Things (IoT), making vehicles safer than ever before 2014 is witnessing a paradigm shift from the traditional models. With enhanced GPS, location and maintenance live recording, reminders, driving assistance, and Wi-Fi services, the demand for connected cars has been soaring and it is estimated that connected cars will account for 75% of the 92 million cars shipped globally in 2020. In order to counter these security risks, cybersecurity has become an indispensable aspect of connected cars. In addition, the growing numbers of government regulations and standards for these connected cars have been instrumental in driving the adoption of cybersecurity for cars. Software-based solutions to witness the greatest adoption during the forecast period

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Market Segments:
Cybersecurity Market for Cars is segmented by:
1. Type of Solution: Software based, Hardware based, Professional Services, Integration, Others
2. Type of Security: Network Security, Application Security, Cloud Security, Others (Data and Wireless)
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• May 2017 - Karamba Security raised USD 12 million in Series B funding, bringing total investment in the company to USD 17 million, one year after closing a seed round.
• September 2017 - Honeywell and Lear Corporation collaborated to focus on developing automotive software technology and infrastructure solutions to address threats associated with emerging connected and autonomous vehicle development.
• June 2017 - Intel acquired Mobileye N.V. for USD 15.3 billion. Mobileye develops products related to computer vision and machine learning, data analysis, localization and mapping for advanced driver assistance systems and autonomous driving.

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