Automotive Cyber Security Market worth $4.0 billion by 2025

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MarketsandMarkets Presents

Automotive Cyber Security Market worth 4.0
billion by 2025
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The report "Automotive Cybersecurity Market by
Form (In-Vehicle, External Cloud Services),
Security (Endpoint, Application, Wireless
Network), Application (Infotainment, Powertrain,
ADAS Safety), Vehicle Type, EV Type, and
Region", size is projected to grow from USD 1.9
billion in 2020 to USD 4.0 billion by 2025, at a
CAGR of 16.5. Increased use of electronics per
vehicle and a growing number of connected cars,
and reinforcement of mandates by regulatory
bodies for vehicle data protection are key
factors that will drive the market for the
automotive cybersecurity market. The growth of
the V2X market is also one of the factors that
drive the automotive cybersecurity market. Browse
197 market data Tables and 86 Figures spread
through 249 Pages and in-depth TOC on "Automotive
Cyber Security Market Vehicle production was low
in April and May 2020 in the major European, Asia
Pacific countries, and the US due to the ongoing
COVID-19 pandemic. Earlier, the automotive
cybersecurity market was expected to witness
rapid growth from 2022 onward as major
regulations are outlined to be imposed. As
vehicle production is suspended, any new
investment for advanced technology is unlikely.
OEMs and tier 1 players are either using cash
reserves or acquiring funds to continue
operations during the crisis. OEMs are still
skeptical about the recovery of vehicle sales to
2019 levels in 2020.
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The automotive cybersecurity market is dominated
by global players such as Robert Bosch (Germany),
Continental AG (Germany), Harman International
(US), Denso Corporation (Japan), Aptiv (Ireland),
Karamba Security (Israel), SafeRide Technologies
(Israel), Arilou Technologies (Israel), GuardKnox
(Israel), etc. Download PDF Brochure _at_
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sp?id170885898 Increasing use of mechatronics
devices and increasing demand of connected
vehicle services inside the vehicle is expected
to result in the dominance of the passenger
vehicle segment in the automotive cybersecurity
market The passenger vehicles segment is
expected to lead the automotive cybersecurity
market during the forecast period, owing to the
demand for connected vehicle services and growing
sales of mid-luxury and luxury vehicles. The
electrical/electronic (E/E) architecture of
passenger vehicles is complex and critical than
LCVs and HCVs. These vehicles are equipped with a
considerable number of ECUs and are more prone to
cyberattacks compared with the other two
categories of vehicles. Connected passenger
vehicles are expected to be the Internet of
Things (IoT) in the coming years. These vehicles
will be able to collect massive amounts of data
from different sources. Passenger vehicles will
be capable of exchanging data and alert drivers
of potential dangers. These vehicles will also be
able to interact with sensors on road signs on
stoplights, bus stops, and even the ones embedded
in the roads to get traffic updates and rerouting
alerts.
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Increasing installation of telematics devices
and push by government authorities to adopt
telematics is driving the Telematics segment in
the automotive cybersecurity market The market
for Telematics is primarily driven by multiple
factors such as an increase in the number of
accidents, rising vehicle thefts, security issues
while traveling, and the demand for navigation
services. Telematics also helps track the
location of the vehicle, and its automated
interface with law enforcement agencies reduces
the response time. This eventually leads to a
reduction in vehicular thefts. Telematics
primarily involves data exchange such as vehicle
details/history, location, schedules, driving
habits activities, and other key information of
private as well as fleet owners. This data
exchange is done through wireless networks with
external servers, making it prone to data theft.
Thus, cybersecurity plays a key role in
telematics since the breach of such data can have
serious consequences for end-users. Government
mandates such as E-calls are likely to fuel the
market in future.
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The Asia Pacific likely to emerge as the largest
automotive cybersecurity market Asia Pacific is
always seen as a revenue-generating region in the
automotive sector. Region comprises of
technologically advanced countries like Japan,
South Korea, and countries with increasing
populations and improving economies. Vehicles in
this region are getting advanced at the backdrop
of customer need and implementation of government
regulations related to vehicle safety and carbon
emissions. All kinds of key vehicles categories
like a passenger vehicle, light, and heavy
commercial vehicles are getting advanced. Changes
in the powertrain technology, the inclusion of
modern safety features, and technology for
vehicle management are some of the key trends
that is helping Asia Pacific region to dominate
the market for automotive cybersecurity. The
growth of the connected vehicle market in the
Asia Pacific is expected to boost the demand for
automotive cybersecurity. As the number of
connected vehicles increases, the demand for
cybersecurity in these vehicles would also
increase. To speak to our analyst for a
discussion on the above findings, click Speak to
Analyst
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