Global Automotive Cybersecurity Market Projected to Grow Over $4.47 Billion by 2025

The global automotive cybersecurity market is projected to grow over $4.47 billion by 2025, according to a new market intelligence report by BIS Research, titled Global Automotive Cybersecurity Market − Analysis and Forecast, 2020-2025. The global automotive cybersecurity market was valued at $1.61 billion in 2019 and is anticipated to grow at a CAGR of 22.30% during the forecast period, 2020-2025. The rising adoption of connected vehicles across the globe, the rising cyber threats due to an increase in data and connectivity of the vehicles, the increasing number of electric components in the vehicle, and the integration of big data analytics, machine learning, and deep learning technologies drive the market growth.
Technological advancements in the automotive industry have resulted in the worldwide adoption of automotive cybersecurity solutions. The increasing implementation of MaaS and vehicle platooning, the increasing application of automotive cloud for storage of data and over-the-air updates, and the increasing levels of autonomy are some of the factors substantiating the growth of the global automotive cybersecurity market. However, high complexity of the ecosystem with presence of multiple stakeholders and zero-failure rate of cybersecurity applications are pressing matters to be looked upon in the current scenario.

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The growing number of autonomous vehicles are pushing the demand for the deployment of automotive cybersecurity market. Owing to the popularity of these solutions and services, major players such as Argus Cyber Security Ltd., ESCRYPT GmbH, Harman International, Karamba Security and Upstream Security are competing with each other to increase their market shares.

Geographically, Asia Pacific & Japan (AP&J) is expected to lead the global automotive cybersecurity market in 2019, followed by Europe, and is expected to maintain its dominance during the forecast period. The unprecedented growth in the AP&J region is primarily attributed to the growing number of high-end passenger cars which comprises level 1 and level 2 vehicles, increased adoption of Mobility-as-a-Service (MaaS), and increasing R&D activities and large-scale adoption of driving assistance systems technology in the region. All these factors have resulted in boosting the demand for automotive cybersecurity in the AP&J region.
As stated by Arpit Benjwal, Principal Analyst at BIS Research, “The IDS/IDPS cybersecurity is expected to surpass ECU protection in the automotive cybersecurity market. This is mainly because IDPS/IDS offer advantages such as preventing vulnerability exploits, blocking-in foreign codes, ensuring zero false positives, not requiring connectivity, having negligible performance impact, and not requiring anti-malware updates. Additionally, North America and Europe are witnessing a continuous rise in the demand for high-end passenger vehicles which include connected and ADAS features such as V2X communication, adaptive cruise control, lane departure warning, drowsiness monitoring.. All these systems work with the integration of number of sensors and ECU. Hence, these systems require advance cybersecurity solution such as IDS/IDPS for the prevention of cyber-attacks. Consequently, the demand for automotive cybersecurity is expected to witness a significant rise.”

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The BIS Research report provides a detailed analysis of the trends influencing the global automotive cybersecurity market, along with a comprehensive study of the future trends and developments. It also includes drivers, market industry analysis, and leading player analysis in the global automotive cybersecurity marketspace. The overall market has been segmented based on product type, and application. The report also includes a comprehensive section on the geographical analysis which has been sub-segmented into seven major regions, namely North America, Europe, The U.K., Asia-Pacific & Japan (AP&J), China, Middle East and Africa, and South America.

This report is a meticulous compilation of research on more than 50 major players in the automotive cybersecurity market. Moreover, it draws upon insights and in-depth interviews of key industry leaders of more than 100 leading companies, market participants, and vendors.

Key questions answered in the report:

 What are the underlying structures resulting in the emerging trends within the global automotive cybersecurity market?
 How are the automotive OEMs and automotive cybersecurity startups evolving in the industry?
 What are the estimated market values of different product types and applications in the global automotive cybersecurity market for the period 2019-2025?
 How COVID-19 is impacting the global automotive cybersecurity market?
 How is the automotive cybersecurity industry expected to evolve during the forecast period 2020-2025?
 What major developmental strategies are being implemented by the key players to sustain in the competitive market?
 What are key consumer attributes that can help ensure the market success in different countries?

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This release was published on openPR.