Cybersecurity in automotive Industry Size, Trends, Growth, Outlook and Forecast to 2023

04/feb/2020 09:00:42 Automotive Market Research Reports Contatta l'autore

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The global cybersecurity in automotive industry is anticipated to develop at a CAGR of 9% over the estimated time allotment due to the burgeoning demand for smart transportation systems. The market is also projected to surpass USD 32 million by 2023 with the advent of cloud security services and more technological advancements. This report has been presented by Market Research Future, where analysts have indulged their research based on segmentation and regional shares globally.

Automotive cybersecurity is referred to as a combined method of defense that is used to detect and protect from threats. These tend to recognize risks priorily, and hence it gets avoided. The new generation of automotive cyber security includes mainly hardware-based protection in and around the engine control unit. The installed software in vehicles helps in defending. Apart from this, the network monitoring system and cloud services offer correct data privacy and protection as well.

Global Automotive Cyber Security Market

The trend of high living standard along with increased disposable income has observed a shift toward the adoption of advanced vehicles that are offering various benefits such as navigation, telematics and more. As these have become more common in usages, they are now more vulnerable to cyber attacks. Here the automotive cybersecurity services play an essential role by putting a barrier to all the threats. This is one of the main factors which is claiming the global automotive cyber security market to grow substantially in the years to come.

Even the government agencies are also partnering with automotive cyber security solution providers, which in turn, is propelling the market to gain utmost attention and importance. Moreover, burgeoning demand from mobile applications to cloud technologies is also making the market ready to surge rapidly by the estimated timeframe.

Further, the global automotive cyber security market is being strongly driven by the increasing connectivity of vehicles along with the growing need for security in the connected cars. The expanding integration of advanced features and rising adoption of telematics services in automobiles are also actively advancing the growth of the global automotive cyber security market. It keeps the cars connected and does a better job by keeping the driver updated about the traffic, accidents, road warnings, and speed limits.

In addition, the cybersecurity provides improved convenience and assistance to the drivers as the connected cars witnessed a higher level of innovation by infotainment systems and safety assistance technology.

Global Automotive Cyber Security Market Segmentation

According to the reports of MRFR, the automotive cybersecurity market is segmented based on the security type that includes network security, endpoint security, application security, and wireless security.

There has been updated to the complexity in cybersecurity that has reduced due to the implementation of wireless networks. The wireless devices present in cars eventually helps to reduce risk related to tracking location through identifiers in procedures or identifiable patterns in waveforms.

By the mode of application, the automotive cybersecurity market is segmented into onboard diagnostic (OBD), communication, safety systems, infotainment, and telematics.

By mode of vehicle type, the automotive cybersecurity market is segmented into passenger or consumer vehicle and commercial vehicle.

Regional Outlook: Global Automotive Cyber Security Market

Considering the criterion of geographical split according to MRFR’s reports, the market of automotive cybersecurity has been studied for the region of Asia Pacific, North America, Europe and Rest of the World.

Among them, the North American region has been one of the leading regions for the market share owing to plentiful cross-industry collaborations that are taking place.

Next comes the Asia Pacific region, which is also being a prominent player in the automotive cyber security market owing to the presence of large enterprises and SMEs in the region. These are increasing with the adoption of cloud-based cybersecurity solutions.

Key Players:

The protuberant players in the automotive cyber security market are Argus Cyber Security (Israel), Harman International Industries, Inc. (U.S.), Karamba Security (Israel), Intel Corporation (U.S.), Cisco Systems Inc. (U.S.), NNG Software Developing And Commercial Llc. (Hungary), Intel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), Escrypt Embedded Systems (Germany), Secunet AG (Germany) among others.

Industry News

  • January 2019: HARMAN has been recognized as the 2018 Winner of the “Intrusion Detection Solution Provider of the Year” award for HARMAN SHIELD Solution. HARMAN SHIELD for connected vehicles is comprised of state-of-the-art building blocks to provide a scalable, modular architecture for OEMs and auto fleets.

The active leaders within the Automotive ISAC (Information Sharing Analysis Center), are advocating the need for a clear framework of vehicle cybersecurity, developing a culture of information sharing, drafting standards, and incident response processes. Such that, HARMAN is also offering consultancy services to OEM customers to help them direct their suppliers and lower the overall vehicle security risk.

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