Automotive Cyber Security Market Predicted to grow at a CAGR of 25.8% from 2023 to 2033

By the end of 2033, it is anticipated that the market for automotive cyber security would have increased to US$ 26,492.6 Mn from its estimated value of US$ 2,143.1 Mn in 2022. The automotive cyber security market is anticipated to reach US$ 2,661.7 Mn in 2023 and increase at a CAGR of 25.8% from 2023 to 2033.

Systems for protecting the software of autos as well as communications between them, other connected devices, and the cloud are all covered under automotive cyber security. As a result, it guarantees the security of all automobile data and keeps unauthorised individuals from taking control of the car.

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The automotive cyber security market refers to the market for products and services that are designed to protect vehicles and their associated systems from cyber threats. This includes a wide range of technologies and services, such as firewall systems, encryption software, and penetration testing services, among others.

The market for automotive cyber security is growing rapidly as the use of connected and autonomous vehicles becomes more widespread, and as the number of cyber threats targeting the automotive industry increases. Some of the key drivers of the automotive cyber security market include the increasing reliance on technology in vehicles, the growing number of connected devices in the automotive ecosystem, and regulatory and legal pressures to improve cyber security in the automotive industry.

Key Takeaways from Study
• OEMs and cyber security tech players are continuously collaborating with each other to develop advanced cyber security solutions to deal with highly sophisticated attacks.
• Among the application, ADAS & safety systems are expected to witness high growth, owing to wide adoption in autonomous driving vehicles across the globe.
• Among the regions, South Asia & Pacific is exhibiting a high growth rate, owing to expected rise in automobile production over the coming years
• Infotainment systems will continue being the primary contributor to the growth of the automotive cyber security market on a global scale.
• The market in the U.S. is projected to expand at a CAGR close to 7%, while that in the U.K. at nearly 8% through 2031.
• Demand for automotive cyber security solutions in India is expected to surge at a CAGR of more than 13% over the next ten years.

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"Rise in consumer demand for luxurious features and growing demand for passenger electric vehicles (EVs) would propel growth of automotive cyber security solutions," says a Persistence Market Research analyst.

Key Companies Profiled

Upstream Security
Sectigo Limited
ESCRYPT
RunSafe Security, Inc.
Trend Micro
Harman International
Trillium Secure Inc.
STMicroelectronics
Infineon Technologies AG
NXP Semiconductors

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