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Automotive Cybersecurity Market Top Key Players, Share Analysis And Forecast By 2024-2033
Automotive Cybersecurity Market
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.
Market Overview -
Automotive cybersecurity refers to a set of activities conducted to keep cars in working condition. It refers to the safeguarding of all electronic systems, various communication networks, control algorithms, and many types of software from malicious attacks, unauthorized access, or manipulation. It helps to reduce vehicle cyber-attacks and accidents.
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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
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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