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Key Trend Reshaping the External Cloud Automotive Cyber Security Services Market in 2025: Technological Advancements In Cloud Car Platform Revolutionizes Automotive Cybersecurity
External Cloud Automotive Cyber Security Services Market
The external cloud automotive cyber security services market is likely to witness considerable growth due to the climbing count of internet-linked cars. These connected cars can access the internet through a built-in connectivity system, thereby allowing interaction with other vehicles. There has been a recent surge in cars possessing such intelligent connectivity attributes. However, these cars are prone to cyber-attacks, necessitating the use of cyber security services. For example, the Internet of Business, a technology news provider based in the UK, stated in its connected cars report that the count of connected cars could see a 270% rise to 125 million cars by 2022 in their report. This escalating figure corresponds with an increased need for the external cloud automotive cyber security services, thus fuelling the market's growth.
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What is the projected compound annual growth rate (CAGR) of the external cloud automotive cyber security services market from 2025 to 2034, and what factors influence it?
The market size for external cloud automotive cyber security services has experienced significant expansion in the recent past. This growth is projected to continue from a value of $2.44 billion in 2024 to reach $2.71 billion in 2025, with a compound annual growth rate (CAGR) of 10.9%. The increase during the historical period can be linked to the surge in connected vehicles and in-car connectivity, along with the amplified intricacy and sophistication of cyber threats within the automotive industry. Regulatory actions focusing on cybersecurity in the automotive industry, heightened awareness of cybersecurity risks within the automotive sector and the escalating number of cyberattacks targeting automotive systems also contribute to this growth.
The market for external cloud automotive cyber security services is projected to witness rapid expansion in the forthcoming years. With an expected compound annual growth rate (CAGR) of 14.9%, it is set to reach $4.72 billion by 2029. The growth during this forecasted period is influenced by several factors, such as the expanding markets for electric and autonomous vehicles, the ongoing development of over-the-air (OTA) software updates, the adoption of cloud platforms for vehicle data storage and processing, as well as an increase in collaborations between automotive manufacturers and cybersecurity service providers. The surge in cyber threats targeting modern vehicles also contributes to the market growth. Key forecast trends include the rise of artificial intelligence and machine learning in automotive cybersecurity, the growing need for real-time threat intelligence and monitoring, the emphasis on comprehensive encryption for in-vehicle and cloud communication, the creation of blockchain-based security solutions for automotive data, and the incorporation of cybersecurity as a crucial part of the overall vehicle design and development process.
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How are the latest trends influencing the growth of the external cloud automotive cyber security services market?
The external cloud automotive cyber security services market is experiencing a surge in popularity due to significant technological advancements. The market's players continuously strive for innovation and incorporate cutting-edge technology to stay on top. For example, the India-based IT firm, Wipro, in March 2022, launched a novel Cloud Car platform integrated with a comprehensive cybersecurity system. This advancement allows car manufacturers to troubleshoot software glitches using over-the-air updates. In addition, the platform separates previously combined hardware and software, facilitating large-scale software upgrades from manufacturers.
What are the major segments of the external cloud automotive cyber security services market and their role in driving growth?
The external cloud automotive cyber security services market covered in this report is segmented -
1) By Security: Endpoint Security, Application Security, Wireless Network Security
2) By Electric Vehicle Type: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle
3) By Vehicle Type: Passenger Car, Commercial Vehicle
4) By Application: Telematics System, Infotainment System, Powertrain System, Body Control And Comfort System, Communication System, ADAS And Safety System
Subsegments:
1) By Endpoint Security: Antivirus And Anti-Malware Solutions, Endpoint Detection And Response (EDR), Device Control Solutions
2) By Application Security: Web Application Firewalls (WAF), Application Security Testing (AST), Secure Software Development Lifecycle (SDLC) Tools
3) By Wireless Network Security: Intrusion Detection Systems (IDS), Virtual Private Networks (VPN), Secure Access Service Edge (SASE)
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Which regions are key players in the growth of the external cloud automotive cyber security services market?
North America was the largest region in the external cloud automotive cyber security services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the external cloud automotive cyber security services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the external cloud automotive cyber security services market?
Major companies operating in the external cloud automotive cyber security services market include Continental AG, Denso Corporation, Aptiv PLC, NXP Semiconductors N. V., Honeywell International Inc., Trillium Secure Inc., Escrypt GmbH, Vector Informatik GmbH, Karamba Security, Guardknox Cyber Technologies Ltd., Upstream Security Ltd., Capgemini SE, Robert Bosch GmbH, SafeRide Technologies, Arilou Automotive Cybersecurity, Argus Cyber Security, BlackBerry, Cybellum Technologies LTD, MIRA Ltd., BT Security, Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., International Business Machines Corporation, Microsoft Corporation, Palo Alto Networks Inc., Trend Micro Inc., Check Point Software Technologies Ltd.
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What Is Covered In The External Cloud Automotive Cyber Security Services Global Market Report?
•Market Size Forecast: Examine the external cloud automotive cyber security services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the external cloud automotive cyber security services market for a structured understanding.
•Key Players Overview: Analyze major players in the external cloud automotive cyber security services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the external cloud automotive cyber security services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the external cloud automotive cyber security services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the external cloud automotive cyber security services market.
•Industry Challenges: Identify potential risks and obstacles affecting the external cloud automotive cyber security services market.
•Competitive Landscape: Review strategic developments in the external cloud automotive cyber security services market, including expansions, agreements, and new product launches.
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