The global automotive cybersecurity market valued at $9.15 billion in 2021 and is projected to reach $41.67 billion by 2032, registering a CAGR of 16.6% from 2021 to 2030. :Arilou technologies, ESCRYPT Embedded Systems, SBD Automotive & Ncc Group, Cisco s

The global automotive cybersecurity market valued at $9.15 billion in 2021 and is projected to reach $41.67 billion by 2032, registering a CAGR of 16.6% from 2021 to 2030.

Increasing incidents of cyber-attacks on vehicles and massive vehicle recalls by OEMs have increased awareness about automotive cybersecurity among OEMs globally. Moreover, increasing government mandates on incorporating several safety features, such as rear-view camera, automatic emergency braking, lane departure warning system, and electronic stability control, have further opened new opportunities for automotive cybersecurity service providers globally.

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The report provides a comprehensive analysis of company profiles listed below:

Arilou technologies, ESCRYPT Embedded Systems, SBD Automotive & Ncc Group, Cisco systems, Intel Corporation, Harman (TowerSec), Trillium, BT Security, Argus, NXP Semiconductors, Secunet AG, Utimaco GmbH, Security Innovation, Symphony Teleca & Guardtime

Automotive Cyber Security Market Types:

Software-based, Hardware-based, Network & Cloud, Security Services & Frameworks.

Automotive Cyber Security Market Applications:

Passenger Cars, Commercial Vehicles

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.

Challenge: Discrepancies related to pricing strategies among stakeholders
The emergence of complementary services such as multimedia streaming, E-calls, and remote diagnostics within connected cars is changing the whole ecosystem of the automotive industry. The automotive ecosystem has evolved from a fixed to a dynamic ecosystem in which each stakeholder accounts for a share of the revenue. The pricing model in the connected ecosystem has become a challenge due to the presence of multiple stakeholders. Many companies are struggling with different types of pricing models by managing cost and complexity. Software companies are already implementing more than one pricing model to earn revenue. As per industry experts, cybersecurity solution providers are facing challenges in implementing the right pricing strategy in various cases to maximize revenue and minimize the opportunity loss.

Overall, the incorporation of wireless technologies in vehicles by respective automotive manufacturers, increasing focus towards connected vehicle technology, and rising security concerns to prevent remote access to vehicle electronics are key factors anticipated to augment projected revenues for the wireless network security solution during the forecast period.

By propulsion type, ICE vehicles segment is expected to be the largest in automotive cybersecurity market during the forecast period
ICE vehicles have higher emissions than electric vehicles. Rising concerns over safe driving and pedestrian safety are compelling OEMs to incorporate V2V, V2P, and V2I features in modern ICE vehicles. V2I helps in optimizing traffic, thus improving the fuel economy of the vehicle. However, this also increases the chance of a cyberattack on the vehicle. V2V and V2P also help improve vehicle and pedestrian safety. With the rising penetration of V2X enabled features and other connected features, the demand for cybersecurity solutions has also increased at a rapid pace in this segment. However, the demand for electric vehicles is exhibiting exponential growth, but the overall sales volume of electric vehicles is still very less compared to ICE-powered vehicles; hence, ICE vehicles are expected to hold a larger market share. The fact that there are a large number of V2X, ADAS, and other connected features equipped ICE vehicles in the market will aid the entry of more such vehicles. This would fuel the demand for automotive cybersecurity solutions during the forecast period.

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Recent Developments
In November 2021, NXP Semiconductors collaborated with Ford Motor Company to deliver enhanced driver experiences, convenience, and services like over-the-air updates across its global fleet of vehicles, including the 2021 Ford F-150 pickup, Mustang Mach-E, and Bronco SUVs.
In October 2021, Renesas Electronic Corporation acquired Celeno Communications (Israel) to develop more advanced Wi-Fi connectivity capabilities to deliver end-to-end connectivity solutions for clients and access points.
In September 2021, Harman International collaborated with Renault (France) to provide the Harman Kardon sound system to the Renault Mégane E-TECH 100% electric that is expected to be launched in 2022.
In July 2021, ETAS Korea, a subsidiary of Robert Bosch GmbH, signed a partnership agreement with Suresoft Tech Co., Ltd. (South Korea) to offer consulting services and solutions related to cybersecurity testing of in-vehicle systems to Korean automotive manufacturers and suppliers.
In July 2021, NXP Semiconductors collaborated with Moter Technologies, Inc. (US) to combine its new S32G2 high-performance automotive processors with MOTER's insurance data science expertise and software. This is expected to enable vehicle data monetization with new and improved automotive insurance services.
Increase In Need For Automotive Cybersecurity
Vehicles are becoming increasingly connected to everything, including traffic signals, parking meters, other vehicles, and much more, thus transforming the automobile industry. It is all geared with advanced technologies such as advanced driver assistance systems (ADAS), shared mobility, self-driving cars, and electric automobiles (EV). While these technologies improve safety, comfort, and help to enhance safety on roads, they also expose this advanced and dynamic ecosystem to cyber-attacks. As the ecosystem gets more linked, attack points increase, exposing new vulnerabilities that hackers might employ to jeopardize vehicle safety, user privacy, and -integrity of automotive data. The Automotive Cybersecurity Report 2020 from Upstream Security (an Israeli cybersecurity firm) provided in-depth insights and statistics obtained from examining 633 publicly disclosed events since 2010, 207 of which occurred in 2020 as of November 25, 2020.

Government Initiatives For Implementing Connected Car Technology
The United States Department of Transportation (USDOT) is dedicated to developing a new way of transportation, innovation, and safety while ensuring the country's position as an automation leader. Hence, to assist the safe development, testing, and integration of connected vehicle technologies, the USDOT is acting as a convener and facilitator, engaging with a broad coalition of industry, academic, state and municipal, safety advocacy, and transportation partners.

Rise In Development Of Common Platforms Leading To Higher Risks
Original equipment manufacturers (OEMs) have typically adopted Real-Time Operating Systems (RTOS) platforms over the years, which are multitasking operating systems designed for real-time applications such as QNX or iTron in the automotive sector. As they were highly specialized for the automobile sector, it was unlikely that someone without domain knowledge would obtain the ability or have access to the tools needed to carry out a cyber-attack on a vehicle. However, as more servers, desktop, and mobile platforms are repurposed for automotive use, the number of developers who are skilled to work on these platforms is growing.

What are the Automotive Production and Cyber Security Trends in the U.K.?

The UK automotive sector has enjoyed unprecedented success in the recent years. The industry puts significant emphasis on digitalization. There is a diverse range of vehicle manufacturers in the U.K. including- Nissan, Toyota, Honda, BMW, and Vauxhall, along with local premium manufacturers such as Jaguar, Land Rover, Aston Martin, Bentley, McLaren, and Rolls Royce, amongst others.

Digitalization has been adopted by several automotive companies in the U.K. to enhance competitiveness through productivity gains and enhanced customer service. Moreover, stringent U.K. government regulations for data privacy have made all manufacturers in the country offering connected cars put greater emphasis on ensuring that the systems used in their vehicles are secure and well-updated with the latest standards. Thus, several car manufactures are focusing on the adoption of several cyber security technologies, which would drive the automotive cyber security market in the country, which is estimated to reach a valuation of over 330 Mn by the end of 2031, registering a CAGR of around 8%.

Why are Automotive Cyber Security Providers Eyeing China?

China is estimated to record an incremental opportunity worth more than US$ 920 Mn over the forecast period, as the country has been the world's largest automotive manufacturing country and automotive market since 2009. China's automotive industry has been growing rapidly, and the country is playing an important role in the global automotive market. According to the Ministry of Industry and Information Technology (MIIT), China's countrywide automotive sales have broken through the benchmark of 28 million in 2016, globally ranking first for eight consecutive years.

China's automobile market has attracted many well-established foreign brands to invest in their automobile production in China. However, most foreign brands are only allowed to produce their vehicles in China by establishing joint ventures with domestic automobile manufacturers.

Thus, continues rise in automobile production in China has created huge opportunity for cyber tech players to enter into China's automotive market. China's government is continuously focusing on developing new regulations in the automotive security sector, which would drive demand for automotive cyber security systems in the country.

Will Increasing Connected Vehicles in India Surge Demand for Cyber Security Solutions?

India is estimated to register high growth at a CAGR of more than 13% during the forecast period, owing to rise in domestic automobile production across the country. The automobile industry in India is the world's fourth-largest. India was the world's fourth-largest manufacturer of cars and seventh-largest manufacturer of commercial vehicles in 2019.

The automotive sector in India is considered as the backbone of the Indian manufacturing industry, contributing 7.5% of the GDP. Deloitte's Global Automotive Customer Research for 2020 shows that, two out of three Indians are likely to be willing to pay up to INR 50,000 (close to US$ 700) for connected technologies.

Growing importance of seamless online and offline vehicle experience brings a huge opportunity for connected vehicles to grow in India. Thus, with increasing number of connected vehicles in the country, demand for automotive cyber security solutions is also expected to increase over the coming years.

These aforementioned players rely on multiple expansion strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks.

In December 2020, Karamba Security unveiled its XGuard Monitor platform for fleet-wide security management. The company also announced that XGuard Monitor will be integrated with Micro Focus ArcSight Intelligence cloud analytics to offer comprehensive protection for IoT devices on a large scale.
In November 2020, GuardKnox partnered with NXP Semiconductors, the number one provider of secure vehicle network processors, and Green Hills Software, a worldwide leader in high-assurance real-time operating systems, to develop a secure automotive platform targeting next-generation zonal E/E architecture, enabling commercial deployment for software-defined and service-oriented vehicles.

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