Automotive Cybersecurity Market 2020 Business Revenue Forecast

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Automotive Cybersecurity Market Analysis 2020,
Global Industry Trends, Size, Impact of COVID-19
till 2025
Valued at 1,152.7 million in 2019, the global
automotive cybersecurity market is predicted to
attain a valuation of 7,280.2 million by 2030,
advancing at a CAGR of 18.5 between 2020 and
2030. The main factors fuelling the growth of the
market are the incorporation of artificial
intelligence (AI) in level 4 and level 5
autonomous cars, integration of advanced safety
features in automobiles, and the implementation
of mandatory government regulations for the
incorporation of safety features in vehicles in
several countries around the world. Based on
vehicle type, the automotive cybersecurity market
is categorized into commercial vehicles and
passenger cars. Of these, the commercial vehicles
bifurcation is predicted to register faster
growth in the market in the coming years. This
is because of the increasing incorporation of
cloud-based solutions by vehicle fleet owners
across the world. In addition to this, the
governments of many countries are enacting
strict regulations for the integration of safety
features in commercial vehicles, which is, in
turn, powering the progress of the category in
the market. The adoption of fleet cybersecurity
solutions helps the owners in getting real-time
information about connected vehicles in the
central control unit, which, in turn, assists in
organizing and safeguarding various confidential
information such as driver data.
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analysis/automotive-cybersecurity-market/report-sa
mple Under the application segmentation of the
automotive cybersecurity market, the major
categories are infotainment, advanced driver
assistance system (ADAS) and safety system,
powertrain, telematics, and body electronics. Out
of these categories, the infotainment division
held the major market share in the past. Apart
from providing information, the infotainment
systems also provide entertainment content
through built-in hardware and software, thereby
enhancing the driver and passenger experience.
The consumers can pair their smartphones with
these systems for accessing the features of the
smartphone, which subsequently increases the
demand for in-vehicle cybersecurity solutions
for various infotainment applications in order to
safeguard and protect the passenger
data. Geographically, the automotive
cybersecurity market is predicted to exhibit the
highest CAGR in the Asia-Pacific (APAC) region in
the forthcoming years. The rapid advancement of
the market in this region is because of the
soaring automotive production and the rising
disposable income of people in the various
developing nations of APAC such as China and
India. Furthermore, the increasing public
awareness about the cybersecurity solutions
developed by several original equipment
manufacturers (OEMs), rapid technological
advancements, and enactment of strict government
policies regarding data security and vehicular
safety are predicted to cause huge expansion of
the market in the region in the upcoming
years. Make Enquiry Before Buying the Report_at_
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iry- urlautomotive-cybersecurity-market The
COVID-19 pandemic has negatively impacted the
progress of the global automotive cybersecurity
market primarily on account of the imposition of
strict lockdowns in several countries and the
subsequent disruption in supply chain and
logistics, falling imports and exports of goods,
declining availability of raw materials,
reducing demand for automobiles, shutting down of
OEM factories and manufacturing plants, and
decreased output. The major players operating in
the automotive cybersecurity market such as
Harman International Industries Inc.,Continental
AG, Trillium Secure Inc., Vector Informatik
GmbH,Visteon Corporation, Robert Bosch GmbH, NXP
Semiconductors N.V., Aptiv Plc, DENSO
CORPORATION, and Honeywell International Inc. are
increasingly
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focussing on getting into strategic partnerships
with each other and mergers for increasing their
available resources and technical expertise in
order to improve the quality of their product
and service offerings.