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What’s driving the Automotive Cybersecurity Market Trends? | Major Vendors are are Audi, BMW, Daimler, Ford, General Motors, Honda, Hyundai, Nissan, Tesla, Volkswagen, Volvo Group, Lear Corporation, Symantec, AT&T, Cisco
Automotive Cybersecurity Market
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The growing demand for connected cars is fostering the automotive cybersecurity market. As of 2016 data, there were around 28 million connected vehicles on the road and this is anticipated to reach approximately 70 million by the year 2020. Furthermore, improvement in the standard of living and enhanced disposable income are attributing toward the adoption of advanced vehicles. Due to the integration of advanced technology, the complex systems are more vulnerable to the automotive cybersecurity attacks, contributing to the market growth.
North America dominated the global market with around 51.8% share in 2017. The growing demand for vehicles in this region is due to the integration of automotive and ICT sector. For instance, in January 2018, Honeywell and LG Electronics signed a memorandum of understanding to develop a platform for reducing the risks related to the connected car cyber security technology. Furthermore, the government is also investing in the R&D of automotive cybersecurity. For instance, in March 2018, the U.S allotted USD 100 million for vehicle R&D. Asia Pacific is projected to grow at around 33.3% CAGR due to the growing demand for connected cars in the region. Furthermore, increasing research in the areas of virus detection and better software in connected vehicles also contributes to the automotive cybersecurity market growth.
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.
9. Cisco
10. Intel Corporation
Chapter 3. Automotive Cybersecurity Market Industry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2014 - 2024
3.4. Industry ecosystem analysis
3.5. Industry evolution
3.6. Industry architecture
3.7. Cybersecurity life cycle for vehicle protection
3.8. Types of automotive cyberattacks
3.9. Connected cars
3.9.1. Connected cars key trends
3.9.2. Connected cars vulnerabilities
3.10. Market news
3.11. Regulatory landscape
3.11.1. National Highway Traffic Safety Association(NHTSA)
3.11.2. European Union Agency for Network and Information Security (ENISA)
3.11.3. Australian Communications and Media Authority (ACMA)
3.11.4. National Cooperative Highway Research Program (NCHRP)
3.11.5. Emission Controls Manufacturers Association (ECMA)
3.11.6. Safer Journeys Action Plan
3.11.7. Bharat Stage emission standards
3.11.8. Goods Vehicles Licensing of Operators Act
3.12. Technology & innovation landscape
3.12.1. AI and ML-based cybersecurity to deal with real-time threats
3.12.2. Use of blockchain technology
3.12.3. Automotive Cloud Technology (ACT)
3.13. Industry impact forces
3.13.1. Growth drivers
3.13.1.1. Increasing requirement for cybersecurity in connected cars
3.13.1.2. Rising collaboration between the automotive and ICT industry
3.13.1.3. Rise in the market or Advanced Driver Assistance System (ADAS)
3.13.1.4. Growing advent of telematics and cellular network in automotive sector
3.13.1.5. Growing partnerships and funding’s for connected cars cybersecurity
3.13.1.6. Improvement in the consumer safety and mobility along with reduction in environment degradation
3.13.1.7. Growing government rules and regulations
3.13.2. Industry pitfalls & challenges
3.13.2.1. High initial investment expenses
3.13.2.2. Extended adoption rate in emerging markets due to low consumer acceptance
3.13.2.3. Big data increases complexity
3.14. Growth potential analysis
3.15. Porter's analysis
3.16. PESTEL analysis
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ECUs are an integral part of connected cars with about 150 ECUs in luxury cars, more than 100 ECUs in advanced car models, and approximately 70 ECUs in a modern car. These ECUs help in minimizing the complexity of the systems and simplifying the vehicular communication. However, ECUs are vulnerable to a number of cyber security attacks due to their connectivity with multiple external networks such as GSM, LTE, on-board diagnostics, Bluetooth, LAN, and Wi-Fi. To minimize the rising risks of automotive cyber security attacks, several ICT companies are working with automobile producers to implement higher safety measures, fueling the market growth. The increasing investments by big investors to scale up the cybersecurity profile in automobiles are benefiting the automotive cybersecurity market growth.
Network security held around 36.4% share in 2017 due to availability of attack in internal as well as external networks. The attackers may get access through the third-party communication network in connected vehicles. This makes it important to ensure network security in vehicle terminals. The software security segment in the automotive cybersecurity market is estimated to grow at around 24.5% CAGR over the timeline. The cloud security segment is growing faster with about 29.4% CAGR due to the rise in the number of cloud-connected cars. It offers different services such as navigation, vehicle2vehicle (V2V), and V2I communications that avoid accidents.
In 2017, the communication segment dominated the market with around a 36.2% share due to the increasing use of advanced technologies in modern vehicles. The V2V technology allows communication between the vehicles and data transferring regarding road conditions avoiding accidents, traffic congestions, and climatic degradation. This advanced technology needs an improved level of protection from the threats and attacks, fostering the automotive cybersecurity market growth. The On-Board Diagnostics (OBD) market is expected to grow at about 31.7% CAGR as there is an increased penetration of smart mobile devices. The OBD ports offer direct connection with Controller Area Network (CAN) bus used for several different applications such as vehicle diagnostics, fleet management, and mile-based insurance.
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
According to Global Market Insights, Automotive Cybersecurity Market size is anticipated to be over USD 800 million by 2024 and is expected to grow at a rate of over 23% during the forecast period. Automotive cybersecurity offers advanced and secured connectivity features to the automotive sector, enhancing the customer experience. It delivers better comfort and helps in achieving societal goals such as good road safety, lesser fuel consumption, traffic management, and parking management, providing a good interconnected driving experience. The government is implementing strict regulations to enhance the vehicle security. For instance, in August 2017, the UK government announced new guidelines encouraging manufacturers to take automotive cybersecurity on priority.
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.
Browse Related Report:
https://www.openpr.com/news/1769998/Embedded-Software-Market-in-RTOS-segment-to-witness-11-CAGR-over-2019-2025-Key-Players-are-Intel-Microsoft-Mitsubishi-Toshiba-Mentor-Graphics-Green-Hills-Software-HCL-Technologies-IBM.html
About Global Market Insights
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