Press release
Automotive Cyber Security Market Product Development Strategies by Prominent Players: Audi, BMW, Capgemini, Continental Automotive, Argus Cyber Security, Nissan, Tesla Motors, Intel Security, Lear Corporation, Symantec Corporation
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COVID-19 scenario analysis:
• Declining demand for vehicles due to COVID-19 has setback the automotive industry to a greater extent.
• Additionally, economic uncertainties are expected to rise due to the novel coronavirus pandemic. As a result of this, the companies have started salary-cutting and job-layoffs.
• Owing to the challenges posed by the pandemic, the automotive cyber security market is anticipated to face numerous obstacles. For instance, the automotive cybersecurity summit has been rescheduled to ensure the safety of the people.
• However, due to recession and economic fall down, the cases of theft are anticipated to rise. This, in turn, would grow the demand for automotive cyber security market.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increase in adoption of IoT in vehicles have amplified the need for cybersecurity in automobiles. Additionally, rise in need of security for protecting vehicle data is propelling the market growth. Moreover, rise in inclination toward connected and autonomous cars is proliferating the automotive cyber security market. Besides, increased expenditure on R&D of automakers to improve cybersecurity in vehicle is driving the market. However, the high cost associated with automotive cybersecurity system will hamper the market growth. Further, the improving cloud software infrastructure and increasing government standards to protect data is anticipated to bolster the market growth.
The automotive cyber security market trends are as follows:
Adoption of IoT to surge the market
The comfort level and ease of driving has increased due to the advanced technologies. Moreover, internet has played a significant role in development of automotive sector. Besides, the OEMs have shifted their focus in developing complete self-driven car which won’t need any human interaction with the help of IoT. In 2020, Upstream security partners with Amazon web services to enhance automotive cybersecurity.
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Cyber safety standards to drive the market
The number of hacking has increased in vehicles with increased use of information technologies in vehicle. In 2020, cybersecurity flaws were uncovered in Ford and Volkswagen vehicles. Due to security threats like these in leading car brands, various standards and norms are being set by government to enhance the cybersecurity in vehicle. For instance, in 2018, UK government issued the new cybersecurity standards for self-driving vehicles.
Key benefits of the report:
• This study presents the analytical depiction of the automotive cyber security industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the automotive cyber security market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the automotive cyber security market research report:
• What are the leading market players active in the Automotive Cyber Security market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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About Allied Market Research
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