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Automotive Cyber security Market Industry Demand, Trends, Opportunities and Forecast To 2024 | AUDI AG, BMW, Cognata Ltd, Daimler Trucks North America, Ford Motor Company, General Motors, American Honda Motor Company, Inc., Hyundai Motor Group

03-17-2020 01:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Automotive Cybersecurity Market

Automotive Cybersecurity Market

The compulsion of connected services in vehicles for offering features like improved comfort, convenience, road safety and assisted parking will greatly benefit the automotive cyber security market, which apportioned revenues of over USD 187 million in 2017. With the mounting probability of a vehicle being hacked, a number of IT companies are partnering with automakers to develop security features and enhance the vehicle safety measures. The automotive cyber security market caters to every type of vehicle, from average passenger and luxury cars to heavy duty trucks. Estimates suggest that close to 70 million connected vehicles will be running on the roads by 2020, a significant surge in comparison with the 2016 figure of 28 million. These statistics represent the vast amount of electronic control units (ECUs) that would be required in order to enhance the vehicles, instigating the automotive cybersecurity market.

Technically, ECUs regulate and monitor vehicle performance, safety features, entertainment systems and the overall state of a vehicle and its occupants, while enabling connectivity with external networks. The number of ECUs in a car may range from 70 to over 150 depending on the vehicle type, denoting the vulnerability of connected vehicles to hacking and the significance of the automotive cyber security market for protecting them. Increased efforts by industry experts to spread the awareness regarding ECU in connected vehicles and how they could be hacked has not only made people cautious but also brought out various companies to develop security solutions.

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Argus, a leading name in the automotive cyber security market, provides verified ECU protection for ECUs specific to critical vehicle components such as brakes, door control units, advanced driver assistance units, among others. The protection is designed for detecting and countering threats originating from internal as well as external sources, by guarding against receiving or sending of non-compliant communications that are aligned against the ECU functionality. Argus ECU protection has just a small footprint, making it a non-intrusive technology and capable of supporting almost any ECU.

Company profiled in Automotive Cyber security Market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
o Audi
o BMW
o Capio
o Cognata
o Daimler Trucks
o Ford
o General Motors
o Honda
o Hyundai Motor Group
o Nebula Systems
o Nissan
o Tesla Motors
o TriLumina Corporation
o Volkswagen
o Volvo Car Group
o Cybersecurity providers
o Argus Cyber Security
o Arilou Technologies Ltd.
o AT&T
o Automatic Labs
o BT Security
o Cisco Systems
o Continental AG
o Intel Security
o Karamba Security
o Lear Corporation
o Symantec Corporation

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In May 2018, The Department of Homeland Security Science and Technology Directorate partnered with the Volpo National Transportation Systems, a subsidiary of DOT, with an aim to build an efficient operational network and cybersecurity implementation for telematics systems in Federal vehicles. In yet another instance, Red Balloon Security, the globally acclaimed embedded security technology leader and Auto-ISAC had recently announced the commencement of a new partnership. The two entities through this tie-up intend to provide advanced security tools and training programs to spread cybersecurity awareness in the automotive sector. Red Balloon Security's advanced specialized tools and trainings are expected to help professionals deal with potential cyber threats in vehicle embedded device systems in a much comprehensive way.

Powered by the dynamism in the growth portfolio, investors are highly optimistic toward the revolutionizing automotive cyber security market outlook and are betting big to exploit the potential opportunities it is likely to offer. The renowned Japanese automotive component manufacturer Denso's USD 2 million investment in Dellfer, the renowned cybersecurity and IOT giant this year marks the onset of this approach by the automotive sector. The deal also implicates the rising focus of the auto giants toward protecting the connected vehicles from potential and rather sophisticated cyber threats. It is overt that with the increasing commercialization of autonomous and connected vehicles, the deployment of cybersecurity technologies is deemed to be humongous. In terms of profitability, the global automotive cyber security market is slated to record a double-digit growth rate over 2018-2024.

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