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Automotive Cybersecurity Market Outlook 2024: Exclusive Report By The Business Research Company | Aptiv PLC, Argus Cyber Security, Arilou Technologies, Continental AG, ESCRYPT GmbH, GuardKnox Cyber Technologies Ltd., Harman International Industries Inc.
Automotive Cybersecurity Market Trends
The Business Research Company offers in-depth market insights through Automotive Cybersecurity Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive cybersecurity market size has grown rapidly in recent years. It will grow from $2.37 billion in 2023 to $2.82 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. The growth in the historic period can be attributed to increased adoption of connected and autonomous vehicles, stringent government regulations and industry standards , growing demand for advanced driver assistance systems (adas), increasing demand for luxury vehicles, rise in the number of cyber threats targeting automotive systems.
The automotive cybersecurity market size is expected to see rapid growth in the next few years. It will grow to $5.63 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to growth in the adoption of electric vehicles, integration of 5g technology in connected vehicles, expanding the attack surface, increasing reliance on over-the-air (ota) software updates, expansion of the automotive industry in emerging markets, rise in awareness and investments in proactive cybersecurity measure. Major trends in the forecast period include development of integrated cybersecurity solutions, emphasis on secure vehicle-to-everything (v2x) communication, use of blockchain technology for secure data sharing, collaboration between automakers and cybersecurity firms for threat intelligence, implementation of behavior-based anomaly detection for real-time threat identification.
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Market Segmentation:
The automotive cybersecurity market covered in this report is segmented -
1) By Security Type: Network Security, Application Security, Endpoint Security, Wireless Security, Cloud Security
2) By Form: In-Vehicle, External Cloud Service
3) By Vehicle: Passenger Car, Commercial Vehicle
4) By Application: Telematics System, Body Control and Comfort System, Infotainment System, Powertrain System, Other Applications
Major Driver - Rise In Connected Cars Fuels Growth In The Automotive Cybersecurity Market
The increase in the number of connected cars is significantly contributing to the growth of the automotive cybersecurity market going forward. A connected car refers to a vehicle that can access the internet through an inbuilt connectivity system. Cyber security in connected cars includes features such as the call for sophisticated threat intelligence, which helps to prevent cars from common security problems. For instance, in June 2021, according to Express Drive, an India-based automobile news provider, in India, more than 350 million connected cars are expected to hit the road by the year 2023 which is almost 24% of all cars worldwide. Therefore, the increase in the number of connected cars is driving the growth of the automotive cybersecurity market.
Competitive Landscape:
Major companies operating in the automotive cybersecurity market report are Aptiv PLC, Argus Cyber Security, Arilou Technologies, Continental AG, ESCRYPT GmbH, GuardKnox Cyber Technologies Ltd., Harman International Industries Inc., Trillium Secure Inc., SafeRide Technologies Ltd., Lear Corporation, Karamba Security, Intel Corporation, Infineon Technologies AG, Cisco Systems Inc., Delphi Technologies PLC, Vector Informatik GmbH, Symantec Corporation, Regulus Cyber, C2A Security Ltd., XShield Ltd., Apriori Technologies Inc., AutoCrypt Co Ltd., Idaptive Automotive Cybersecurity, GuardSquare NV, Altimetrik Corp., Identiq Automotive Ltd., Guardtime AS, ForgeRock Automotive, AutomotiveCyber GmbH, Thales Group, NXP Semiconductors NV, Green Hills Software
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Top Trend - Automotive Cybersecurity Market Sees Rising Interest In Technological Innovations
Technological innovations are the key trend gaining popularity in the automotive cybersecurity market. Major companies operating in the automotive cybersecurity sector are focused on technological innovations to sustain their position in the market. For instance, in October 2021, Tesla, a US-based car manufacturing company, launched a new technology for connecting cars known as Vehicle-to-everything based on 5G technology. V2X is a net automotive cybersecurity technology that provides authenticated data transmission between vehicles and infrastructure. The technology is launched in innovative V2X services, which contain many features such as RAT, transmission profile, communication mode, and signaling protection mode.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Cybersecurity Market Characteristics
3. Automotive Cybersecurity Market Trends And Strategies
4. Automotive Cybersecurity Market - Macro Economic Scenario
5. Automotive Cybersecurity Market Size And Growth
…..
27. Automotive Cybersecurity Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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