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Automotive Cybersecurity Market 2020-2024: Global Market Evaluation and Demand Forecast

Author : Ronak Bora | Published Date : 2020-08-25 

The network security dominates the automotive cybersecurity market and is projected to generate a market revenue of USD 236.4 million over the forecast timescale. The in-vehicle networks carry a variety of personal and operational identifiable information such as microphone recording, location, and call and navigation history, due to which protecting the data and messages over the network bus is important for privacy and operational security. Moreover, network protocols, such as Local Interconnect Network (LIN), Controller Area Network (CAN), automotive Ethernet, FlexRay, Wi-Fi, 5G network, Bluetooth, and Dedicated Short-Range Communication (DSRC), also aggravate cybersecurity threats. Therefore, it is important to adopt improved security techniques by interacting with security-enhanced network protocols to provide authenticity, integrity, and reliability of transmitted data.

The passenger/consumer vehicles held 89.9% of the market share in 2017 and are projected to dominate the market over the forecast period. Cybersecurity plays a key role for consumers when they are purchasing the vehicle due to which various automotive manufacturers are working toward making cybersecurity a priority by adopting multi-layered security approach. Tier 1 companies and OEMs are using comprehensive solutions by combining innovative technologies and cybersecurity services, addressing the security challenges in connected passenger vehicles. For instance, in June 2018, Baidu and Ford entered into a strategic partnership to infuse AI in in-car infotainment services. This partnership will provide a platform enabling features, such as image and voice recognition, to personalize the consumer experience for car owners.

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In an era where connected cars are deemed to mark the future of mobility, automotive cybersecurity market is indeed set to occupy a pivotal stance in smart and sustainable tech space. The cyber threats or security breaches in connected cars enable external access to the vehicle’s network and not just compromise the driver’s data privacy but can also pose serious threats to the driver’s physical safety and car’s operation. With data security breaches becoming intensely sophisticated, automotive cybersecurity industry has turned out to be an inevitable investment spot that would aid automotive sector’s continued roadmap toward connectivity without risk.

The dynamics of automotive cyber security involves two major rationales; the product’s design, developments, maintenance, and operations and the operating environment comprising the regulatory and strategic framework. The multiple aspects associated with the two parameters are sort of prerequisites for the automotive cybersecurity market players to enhance and expand their stance in this landscape.

Speaking of competitive trends, strategic collaborations and partnerships have emerged as two of the top-notch measures adopted by the automotive cybersecurity market giants. One of the recent trends in this regard has been the JVs established between the automotive companies and technology conglomerates, in a bid to understand and resolve the security complexities in modern or connected vehicles.

Europe automotive cybersecurity market is witnessing a fast growth rate and is projected to reach USD 224 million by 2024. Germany dominates the European market as it is the home to some of the leading automobile manufacturers including Ford, Volkswagen, BMZ, Audi, Mercedes-Benz, Opel, and Porsche. These companies are working with various software cybersecurity providers to increase the security offering aimed at maintaining passenger safety while traveling.

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The companies functioning in the automotive cybersecurity market are investing in research and development strategies aimed at bringing about innovations in the automotive cybersecurity solutions. Some of the major vendors operating in the automotive cybersecurity market are Audi, BMW, Ford, Honda, Nissan, General Motors, Volvo Car Group, Volkswagen, BT Security, Cisco Systems, Lear Corporation, Symantec Corporation, Argus Cyber Security Ltd., Intel Security, Arilou Technologies Ltd., Continental AG, and Karamba Security.

Table of Contents (ToC) of the report:

Chapter 5.   Automotive Cybersecurity Market, By Security

5.1.  Key trends, by security

5.2.  Hardware security   

5.2.1. Market estimates and forecast, 2014 - 2024

5.2.2. Market estimates and forecast, by region, 2014 – 2024

5.3.  Software security

5.3.1. Market estimates and forecast, 2014 - 2024

5.3.2. Market estimates and forecast, by region, 2014 - 2024

5.4.  Network security

5.4.1. Market estimates and forecast, 2014 - 2024

5.4.2. Market estimates and forecast, by region, 2014 - 2024

5.5.  Cloud security

5.5.1. Market estimates and forecast, 2014 - 2024

5.5.2. Market estimates and forecast, by region, 2014 - 2024

Chapter 6.   Automotive Cybersecurity Market, By Type

6.1.  Key trends, by type

6.2.  Passenger/Consumer vehicles

6.2.1. Market estimates and forecast, 2014 – 2024

6.2.2. Market estimates and forecast, by region, 2014 – 2024

6.2.3. Market estimates and forecast, by application,2014 - 2024

6.3.  Commercial

6.3.1. Market estimates and forecast, 2014 - 2024

6.3.2. Market estimates and forecast, by region, 2014 – 2024

6.3.3. Market estimates and forecast, by application, 2014 - 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/automotive-cybersecurity-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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