USD 2.4 billion
Report ID:
SQMIG45K2099 |
Region:
Global |
Published Date: February, 2024
Pages:
197
|
Tables:
63 |
Figures:
77
Global Automotive Cyber Security Market size was valued at USD 2.4 billion in 2021 and is poised to grow from USD 2.91 billion in 2022 to USD 11.17 billion by 2030, at a CAGR of 21.2% during the forecast period (2023-2030).
Security professionals are focusing their efforts on research and development to incorporate defence systems to thwart the expanding cyberattacks against EVs. As self-driving software and hardware characteristics progress in technology, integrating a defence mechanism becomes an essential design component. A cloud platform is used in common technologies to connect driverless cars to the internet. Vehicle network connectivity poses a risk. More automobiles connecting to networks increases the attack surface. There is an increase in the installation of sensors and software employed in autos in current settings. More than 150 sensing devices are installed all over connected cars, collecting data. Everything, including the user's driving patterns and the position of the vehicle, can be tracked using it.
Global Market Size
USD 2.4 billion
Largest Segment
Wireless Network
Fastest Growth
Wireless Network
Growth Rate
21.2% CAGR
To get more reports on the above market click here to Buy The Report
Global Automotive Cyber Security Market is segmented on the basis of security type, vehicle type, service and region. By security type, the market is segmented into endpoint, application, wireless network. By vehicle type, market is segmented into passenger car, commercial vehicle, electrical vehicle. By service, the market is segmented into in vehicle and external cloud. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Automotive Cyber Security Market Analysis by Vehicle Type
The EV category dominated the market in 2022 and is expected to grow at a CAGR of 28.57% going forward. The market has expanded as more individuals are becoming aware of economic development and the drawbacks of driving hybrid cars. In addition, a few municipal governments are providing subsidies to encourage the purchase of electric cars in anticipation of greater infrastructure development. The way that EVs produce, manage, store, and use energy is evolving as a result of developments in energy and information technology. The likelihood that cyberattacks will have harmful impacts has increased as a result. Cybersecurity vulnerabilities are more likely as electric and modern cars become more automated and connected.
Compared to the other two categories of cars, passenger vehicles have a significant number of ECUs and are therefore more vulnerable to cyberattacks. The primary factor influencing the passenger car market is the rising adoption of V2X technologies as a result of rising worries about traffic, safety, and pollution levels. The Audi A4 and Cadillac CTS are just two examples of the numerous passenger cars featuring V2X that are now on the market.
Global Automotive Cyber Security Market Analysis by Security Type
With a 42.5% market share in 2022, wireless network security ruled the industry. The Wi-Fi-based wireless technology gives automotive professionals the ability to simultaneously monitor hundreds of data channels during test runs to track vehicle operational parameters and modify the test as it's being done. A modern vehicle includes numerous networks for information sharing, including wireless channels, to enable a variety of application scenarios. As the automotive industry expands, vehicles will enable more complicated wireless communication use cases; therefore, it will be crucial to think about building secured wireless technology based on a strong equipment foundation and software layers created to secure software development processes.
The application security market sector had a sizable revenue share of 34.6% in 2022. Mobile applications that provide a smooth user and owner interaction have increasingly been made available by auto OEMs in recent years. Among the many features offered by these programmers are the wireless automobile starting, fuel level monitoring, and sophisticated inspections. Additionally, a number of advantages for users of vehicles have been included into new mobile applications.
To get detailed analysis on other segments, Request For Free Sample Report
The majority of the market share for automotive cyber security comes from the Asia-Pacific region. Due to an upsurge in cyberattacks against the country, China has improved its defenses. The country stands a good probability of acting as a crucial hub for cyberattacks in other areas. A Chinese cyberspying group has been blamed for attacks on Microsoft's mail server software. Due to China's massive monitoring infrastructure, which is made possible by insufficient or even nonexistent encryption, a lot of data in China has been left open to manipulation and espionage.
North America is the largest shareholder in the global cyber security market, and it is anticipated that during the forecast period, it will expand at a CAGR of 8.40%. The main donor to this region is the United States. Healthcare cybersecurity crimes are on the rise in the US and remain a major national concern, which is motivating businesses to create solutions. There were 29,298,012 healthcare records breached, up 25% over the previous year, according to the Healthcare Data Breach Report and the Health Insurance Portability and Accountability Act. According to Reuters, the US government plans to adopt an executive order mandating that software suppliers notify the federal government in the event of a security breach to impose stricter regulations on cybersecurity breaches in organizations and government organizations.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Automotive Cyber Security Market Drivers
Supportive Government Initiatives to Tackle Cyber Crimes will be Fruitful for Industry Growth
Global Automotive Cyber Security Market Restraints
Heavy Dependence on Traditional Authentication might pose as a Threat
Request Free Customization of this report to help us to meet your business objectives.
Manufacturing close to the customer in order to cut operational costs is one of the main business tactics used by manufacturers in the global cyber security market to benefit customers and build the automotive cyber security market sector. Some of the biggest advantages brought about by the development in cyber security systems in recent years have gone to the automotive industry.
Top Player’s Company Profiles in Global Automotive Cyber Security Market
Global Automotive Cyber Security Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global automotive cybersecurity market has gained significant importance as vehicles become increasingly connected and autonomous. With the proliferation of advanced technologies in modern vehicles, ensuring the security and protection of automotive systems against cyber threats has become a critical concern for the automotive industry. The automotive cybersecurity market has experienced substantial growth in recent years and is expected to continue expanding. Factors driving market growth include the rising number of connected cars, the increasing adoption of advanced driver-assistance systems (ADAS) and autonomous vehicles, and the growing awareness of cybersecurity threats in the automotive industry. The market is poised for expansion as stakeholders invest in advanced cybersecurity solutions to protect vehicles and ensure the safety of occupants and their data.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 2.4 billion |
Market size value in 2031 | USD 11.17 billion |
Growth Rate | 21.2% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Automotive Cyber Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Cyber Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Automotive Cyber Security Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Automotive Cyber Security Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG45K2099