Automotive Cybersecurity Market Growing Immensely at a Global Level

The global Automotive Cybersecurity Market was valued at USD 2.0 billion in 2021 and projected to reach USD 5.3 billion by 2026, growing at a CAGR of 21.3% during the forecast period.

The key growth drivers of the market are the increasing sales of luxury vehicles, electric vehicles and connected vehicles, and the adoption of regulations related to automotive cybersecurity. Also, the increasing usage of electronics per vehicle, growing cloud-based applications, and rising penetration of V2X-enabled services are also expected to fuel the demand for automotive cybersecurity solutions in the coming years globally.

The Automotive Cybersecurity Market is dominated by global players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Harman International (US), DENSO Corporation (Japan), Aptiv PLC (Ireland), Karamba Security (Israel), SafeRide Technologies (Israel), Arilou Technologies (Israel), GuardKnox Cyber Technologies Ltd. (Israel), Upstream Security Ltd. (Israel), and Green Hills Software.

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The in-vehicle segment is expected to dominate the global automotive cybersecurity market

An average vehicle has around 60 to 70 ECUs installed in it whereas, a vehicle with complex electronic architecture can have more than 100 ECUs. OEMs and tier 1 companies are looking forward to integrating ECUs and domain controllers for various applications. The overall safety of vehicles mainly relies on real-time communication between various ECUs. In addition to this, the features in automotive vehicles such as automatic braking and remote start would have an impact on different scales if these were under the control of remote adversaries. ECUs can predict crashes, detect skids, and perform anti-lock braking. ECUs communicate with each other via communication protocols such as LIN, CAN, FlexRay, MOST, and Ethernet. Modern automotive networks use a combination of LIN for low-cost applications primarily in body electronics; CAN is used for mainstream powertrain and body communications; MOST is used in luxury vehicles for infotainment and ADAS-related features based on cameras; FlexRay bus is used for high-speed synchronized data communications in advanced systems for safety features of the vehicle, and emerging Ethernet has its applications in every system, but it is mostly used in ADAS functions. Hackers can hack the vehicle by manipulating CAN nodes via the CAN network and sending signals to ECUs to perform unauthorized actions inside vehicles. OEMs and automotive cybersecurity solution providers are currently working toward developing security solutions and are at an early stage of designing electronic content. The US National Highway Traffic Safety Administration (NHTSA) has suggested a multilayer automotive cybersecurity approach/practice curtail cyberattacks. NHSTA has provided several recommendations with reference to fundamental vehicle cybersecurity protections. This, in turn, is likely to augment revenues for the in-vehicle segment.

The software segment is expected to dominate the global automotive cybersecurity market.

In terms of market share in the global automotive cybersecurity industry, the hardware to software ratio per vehicle is around 20:80. This is expected to change over the years with variations in hardware prices. Cybersecurity software inside the vehicle requires the implementation of a number of security functionalities such as secure protocols, identity and access management, intrusion detection, and abstraction layers for crypto functions. These functionalities are then used by the functional ECUs to secure communications and avoid the creation of backdoors. Therefore, the software segment is expected to hold the largest share in the automotive cybersecurity market during the forecast period globally.

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Opportunity: Introduction of electric vehicle wireless battery management system

The introduction of wireless battery management systems (wBMS) has unlocked a huge ROI opportunity for OEMs globally. wBMS saves up to 90% of the wiring and up to 15% of the volume in battery packs for next-generation EVs. Apart from this, the lifespan of the battery also increases in this new system. Hence, maintaining a tight security protocol is mandatory in the wireless battery pack management system. In 2020, Analog Devices, Inc. launched its wBMS. In the same year, General Motors collaborated with Analog Devices, Inc. (Analog) to use Analog's wBMS in its Ultium battery platform. This new wBMS includes all integrated circuits, hardware, and software for power, battery management, RF communication, and system functions in a single system-level product that supports ASIL-D safety and module-level security building upon the company's proven industry-leading BMS battery cell measurement technology. Therefore, with the growing popularity of wBMS, the demand for cybersecurity solutions is expected to grow in the automotive sector globally.

Study Coverage:

The report covers the automotive cybersecurity market by Application Type (ADAS & Safety, Body Control & Comfort, Infotainment, Telematics, Powertrain Systems, Communication Systems), Offering (Software and Hardware), Form Type (In-Vehicle And External Cloud Services), Security Type (Application Security, Wireless Network Security and Endpoint Security), Approach (Intrusion Detection System and Security Operations Centre), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles), Vehicle Autonomy (Non-Autonomous Vehicles, Semi-Autonomous Vehicles and Autonomous Vehicle), Propulsion Type (ICE Vehicles and Electric Vehicles), Electric Vehicle Application (ADAS & Safety, Body Control & Comfort, Infotainment, Telematics, Battery Management & Powertrain Systems, Communication Systems, and Charging Management) and Region (Asia Pacific, Europe, North America, and Rest of the World). It covers the competitive landscape and company profiles of the major players in the automotive cybersecurity ecosystem.

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