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Global Automotive Cybersecurity Market Expected to Reach $ 7681.28 Million by 2030 | Business Intelligence Insights (BII)

Published By Business Intelligence Insights LLP [English], Wed, Dec 7, 2022 11:42 PM


As per Business Intelligence Insights (BII) study, the Global Automotive Cybersecurity Market attained revenue growth of USD 1,847.10 million in 2021 and it is projected to reach around USD 7681.28 million by 2030, growing at a 19.50% CAGR.

Increased cyber-attacks and significant adoption of advanced technologies by OEMs have raised awareness of automotive cybersecurity among OEMs throughout the world. Furthermore, rising government mandates requiring the inclusion of several safety features, such as a rear-view camera, automatic emergency braking, lane departure warning system, and electronic stability control, have created new opportunities for automotive cybersecurity service providers around the world. The usage of automotive cyber security solutions is likely to expand as demand for greater security and safety features in connected cars grows. Trends like secure connection, machine learning, 3D printing, and the social network of things will continue to grow in popularity. Significant advancements in the automotive sector, including as the usage of Battery Management Systems (BMS) and sensors, are rendering a more feasible and viable cybersecurity solution possible. As a result of technical improvements in autonomous and semi-autonomous vehicles, there is a necessity for automotive cybersecurity rules, which results in more data and more networking capacity.

Cloud and mobile computing technologies present several commercial prospects. The development of a dependable cloud software infrastructure, open-car standard interfaces, mobile cross platforms, and an automotive data taxonomy provide the sector with various growth options. Besides electric mobility, the next great transformation in the global automobile industry will be automated driver assistance system (ADAS) technology. ADAS (Advanced Driver Assistance Systems) is a technology that allows vehicles to be automated, safer, and more capable of safe driving. This is achieved through the collaboration of sensors, processors, actuators, mapping systems, and various software systems. One of the factors driving up demand for ADAS is a growing interest in road and traffic safety among governments and individuals equally. The shortage of experienced and skilled cybersecurity professionals is one of the major factors limiting the growth and adoption of automotive cyber security. One of the key causes for the rise in cybersecurity issues in the automobile industry is a talent shortage. Currently, there is a cybersecurity manpower shortage, as well as cybersecurity threats.

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Global Automotive Cybersecurity Market: Companies Mentioned

• Argus Cyber Security Ltd.

• Marilou Technologies

• Vector Informatic GmbH

• NXP Semiconductors N.V.

• HARMAN International

• Symantec Corporation

• Denso Corporation

• Honeywell International, Inc.

• Guard Knox Cyber-Technologies Ltd. 

• Others

Key Highlights of the Report:

Wireless network security as a security outlook led the automotive cybersecurity market in 2021, due to rising security concerns to prevent remote access to vehicle electronics, increased focus on connected vehicle technology, and the incorporation of wireless technologies in vehicles by respective automotive manufacturers are key factors expected to boost projected revenues for the wireless network security solution during the forecast period. The transportation agencies are concentrating on strengthening infrastructure. To meet the expanding connection needs in automotive, startups are focusing on providing wireless network services.

Automotive Cybersecurity come in a variety of forms, including passenger car, commercial vehicle, and electrical vehicle. Passenger car are the most common vehicle type in the global automotive cybersecurity market owing to rising sales of mid-luxury and luxury vehicles and demand for connected vehicle services Passenger vehicle electrical/electronic (E/E) design is more complex and important than that of LCVs and HCVs. Passenger vehicles have a higher number of ECUs and are therefore more vulnerable to cyber than the other two types of vehicles. The increased adoption of V2X technologies because of growing concerns about traffic, safety, and pollution levels is pushing the passenger vehicle segment. The Audi A4 and the Cadillac CTS are two examples of passenger cars that come equipped with V2X.

The Asia-Pacific automotive cybersecurity market increased rapidly in both developed and developing countries. The automotive cybersecurity market in Asia Pacific is being driven by rising sales of mid-sized and luxury automobiles, as well as increased awareness of active and passive safety features. The massive production of passenger vehicles, together with the increasing penetration of connected cars and other modern technologies, is another significant factor driving market expansion in this region. The automotive industry considers China and India to be manufacturing centers.

• The report contains qualitative and quantitative research on the global automotive cybersecurity Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

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Revenue-generating Segment Highlights

By Security Outlook 

• Endpoint Security

• Application Security

• Wireless Network Security

By Vehicle Outlook 

• Passenger Car

• Commercial Vehicle

• Electrical Vehicle

By Service Outlook

• In-vehicle Services

• External Cloud Services

By Application Outlook

• ADAS & Safety System

• Infotainment

• Body Electronics

• Powertrain

• Telematics

By Region

• North America

o U.S.

o Canada

• Europe 

o Germany

o U.K.

o France

o Italy

o Spain

o Rest of Europe

• Asia Pacific 

o China

o India

o Japan

o Rest of Asia Pacific

• Latin America 

o Brazil

o Mexico

o Rest of Latin America

• Middle East and Africa 

o UAE

o South Africa

o Rest of Middle East and Africa (MEA)

Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’ exclusive Automotive Cybersecurity Market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –

• What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?• What is the current trend taking place in the market space?

• What are the business techniques that will influence competitive scenarios as well as the market's growth potential?

• What market drivers, restraints, and challenges are influencing market demand and growth?

• In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?

The Automotive Cybersecurity Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Automotive Cybersecurity Market Forecast Report 2022- 2030 – Order Now!

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Sagar Salgare

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