Automotive Cybersecurity Market Show Strong Growth Through 2024 | Major Vendors are Audi, BMW, Daimler, Ford, General Motors, Honda, Hyundai, Nissan, Tesla, Volkswagen, Volvo Group, Lear Corporation, Symantec, AT&T, Cisco
The passenger/consumer vehicles held 89.9% of the market share in 2017 and are projected to dominate the automotive cybersecurity 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. For instance, in June 2018, Baidu and Ford entered into a strategic partnership to infuse AI in in-car infotainment services. This partnership will provide a platform enabling features, such as image and voice recognition, to personalize the consumer experience for car owners.
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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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. AUDI AG
2. Daimler Trucks North America
3. Ford Motor Company
4. American Honda Motor Company, Inc.
5. Nissan Motor Corporation
6. TriLumina Corp.
7. Volvo Cars
8. Argus Cyber Security Ltd.
10. Intel Corporation
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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.
The software security segment in automotive cybersecurity market is projected to grow at a CAGR of 24.5% over the forecast period. The proliferation of ECUs in the automobiles has also increased the attack surface making vehicles easily accessible to attackers. There are a large number of ECUs with different capabilities in the automobiles, making them necessary to provide software security to these systems.
North America dominates the automotive cybersecurity market due to the rising collaboration between the automotive manufacturers and software providers to enhance their connected car safety and security. Furthermore, the U.S. and Canada are the main contributors of new automobiles deployed with the latest technologies, driving the market 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:
The Asia Pacific automotive cybersecurity 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 market demand. Moreover, increasing research in the fields of malware detection and improved software in connected vehicles are also contributing to the growth.
In an era where connected cars are deemed to mark the future of mobility, automotive cybersecurity market is indeed set to occupy a pivotal stance in smart and sustainable tech space. The cyber threats or security breaches in connected cars enable external access to the vehicle’s network and not just compromise the driver’s data privacy but can also pose serious threats to the driver’s physical safety and car’s operation. With data security breaches becoming intensely sophisticated, automotive cybersecurity industry has turned out to be an inevitable investment spot that would aid automotive sector’s continued roadmap toward connectivity without risk.
With such safety applications being decisive in the development and acceptance of connected vehicles worldwide, the automotive cybersecurity industry is of paramount importance in safeguarding the lives and private information of motorists. The connected services allow for additional technologies to be implemented in vehicles, such as helping to avoid imminent forward collision, detect blind spots and give stop light warnings. Since the number of safety, comfort and network connectivity features incorporated in vehicles is expected to go on accruing, the automotive cybersecurity market is will witness a tremendous growth and is poised to achieve a CAGR of more than 23.5% from 2018 to 2024.
Top key players in global automotive cybersecurity market include AUDI AG, BMW Group, Capio, Cognata Ltd, Daimler Trucks North America, Ford Motor Company, General Motors, American Honda Motor Company, Inc., Hyundai Motor Company, Nebula Systems Ltd., Nissan Motor Corporation, Tesla, TriLumina Corp., Volkswagen AG, Volvo Cars, Argus Cyber Security Ltd., Arilou Technologies, AT&T, Automatic, BT, Cisco, Continental, Intel Corporation, Karamba Security, Lear Corporation, and Symantec.
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