Automotive Cyber Security Market Size By Security (Hardware Security, Software Security, Network Security, Cloud Security), By Type (Passenger Vehicles, Commercial Vehicles), By Application (On-board Diagnostic [OBD], Communication, Safety Systems, Infotainment, Telematics), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024

Published Date: Jul 2018  |  Report ID: GMI2714  |  Authors: Ankita Bhutani, Preeti Wadhwani

Report Format: PDF   |   Pages: 300   |   Base Year: 2017

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Automotive Cyber Security Market size surpassed USD 187 million in 2017 and is poised to grow at a CAGR of over 23% between 2018 and 2024. The increasing demand for connected vehicles is driving the growth of the market.

The connected cars are witnessing huge innovations in terms of safety assistance technology and infotainment systems, hence increasing probability of attacks in various parts of the automobile.

Automotive Cybersecurity Market

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ECUs form an integral part of connected cars with the presence of around 70 ECUs in an average modern car, over 100 ECUs in high-end cars, and about 150 ECUs in luxury cars. These ECUs assist in reducing the complexity of the systems and simplify automobile communication. However, these ECUs are susceptible to a large number of cyber-attacks as they are exposed to multiple external networks such as LTE, GSM, Bluetooth, and Wi-Fi.

For instance, Tesla Model X was hacked twice by Chinese hackers, where they succeeded to remotely turn on the brakes, open and close the doors, and blink the lights. The hackers succeed at this through cellular connections and Wi-Fi. To reduce the growing threat of automotive cyberattacks, various ICT companies are working with car manufacturers to adopt higher safety measures, accelerating the automotive cyber security market growth.

Automotive Cyber Security Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 187 Million (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 23% 2024 Value Projection: 837 Million (USD)
Pages: 300 Tables, Charts & Figures: 324
Geographies covered (19): U.S., Canada, UK, Germany, France, Italy, Spain, Sweden, Norway, China, India, Japan, Australia, South Korea, Brazil, Mexico, Argentina, GCC, South Africa
Segments covered: Security, Type, Application and Region
Companies covered (26): Automotive providers, Audi, BMW, Capio, Cognata, Daimler Trucks, Ford, General Motors, Honda, Hyundai Motor Group, Nebula Systems, Nissan, Tesla Motors, TriLumina Corporation, Volkswagen, Volvo Car Group, Cybersecurity providers, Argus Cyber Security, Arilou Technologies Ltd., AT&T, Automatic Labs, BT Security, Cisco Systems, Continental AG, Intel Security, Karamba Security, Lear Corporation, Symantec Corporation
Growth Drivers:
  • Increasing requirement for cybersecurity in connected cars
  • Rising collaboration between the automotive and ICT industry
  • Rise in the market or Advanced Driver Assistance System (ADAS)
  • Growing advent of telematics and cellular network in automotive sector
  • Growing parTrillion (USD)erships and funding’s for connected cars cybersecurity
  • Improvement in the consumer safety and mobility along with reduction in environment degradation
  • Growing government rules and regulations
Pitfalls & Challenges:
  • High initial investment expenses
  • Extended adoption rate in emerging markets due to low consumer acceptance
  • Big data increases complexity

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Market by Security

The network security accounts for the highest market share of more than 36% as attacks exist both in the internal as well as external networks. Millions of connected vehicles are estimated to be on the roads in the coming years, increasing the probability of attacks in the network interfaces. These include Bluetooth, on-board diagnostics, Wi-Fi, dedicated short range communication (DSRC), and mobile 4G/5G for V2X communication. The hackers can get access through the third-party communication in connected cars. Hence, it is necessary to ensure network security through restricted device management accessibility in vehicle terminals.

The cloud security is the fastest growing segment in the market and will register gains at over 29% through 2024. Due to increase in the number of cloud-connected vehicles, the cloud-based services are rapidly rising. They offer passengers and the drivers various services ranging from navigation to V2V and V2I communications, avoiding accidents. Hence, to make these services available, the vehicles rely on two-way information sharing, making it important to secure cloud technology, protecting the lives of the passengers, drivers, and pedestrians.

Market by Type

The passenger vehicle segment dominated the automotive cyber security market, holding around 90% revenue share in 2017. The growing amount of in-vehicle connectivity including infotainment services, mobile phone connectivity, navigation, voice recognition, and communication with several other vehicular infrastructures drives the market size.

As this connectivity is vital for satisfying the consumer demand, it also introduces huge vulnerabilities, assisting hackers to exploit and gain control of the passenger vehicles and access to the private consumer data gathered by the vehicles. As the investments in connectivity and digitalization are anticipated to rise during the next few years, OEMs need to implement a comprehensive cyber security approach, aimed at maintaining the cyber security in passenger vehicles.

Market by Application

The communication application segment accounts for over 36% market share in 2017 owing to rising deployment of technologies in modern vehicles. The V2V technology permits vehicles on the road to communicate with other vehicles and share data regarding road conditions and various other factors through the network created among vehicles. This connected car technology assists the drivers in avoiding car crashes and reduce traffic congestions and environmental degradation.

It is anticipated that by 2023, all the vehicles on the roads will install the V2V technology. This advanced communication technology requires an enhanced level of security from the cyber attackers, boosting the market revenue.

The On-board Diagnostics (OBD) segment is projected to witness approx. 31.7% growth till 2024 as these devices are being actively used by fleet managers, usage-based insurance providers, and consumers. As these ports provide a direct access to the most sensitive, internal, and critical systems in automobiles, they are highly prone to hacking, requiring higher cyber safety measures.   

Market by Region

North America dominated around 51.8% of the overall automotive cyber security market share in 2017. The rising demand for automobiles in this region on account of convergence of automotive sector and ICT has resulted in the advent of the connected vehicle ecosystem.

Moreover, the Department of Transportation in the U.S. is urging various automotive firms to share critical information and co-operate with researchers to deal with the potential car hacking attacks. The government in this region is also investing to increase the automotive cyber security.

The Asia Pacific market value is predicted to expand at over 33% during the forecast period. The enhanced usage of wireless network systems and in-vehicle infotainment systems have accelerated the sales of connected vehicles in China, driving the Asia Pacific market growth. Furthermore, improved research in the intrusion detection systems and growing integrated software in the modern vehicles will fuel the market demand.

Competitive Market Share

The global automotive cyber security industry is characterized by the presence of a large number of eminent automakers and software security providers. Various leading capital venture firms are also investing in companies offering automotive cyber security solutions to enhance their services offerings and deliver safe security solutions.

Some of the key players operating in the market are Audi, Argus Cyber Security Ltd., Arilou Technologies Ltd., BMW, BT Security, Cisco Systems, Inc., Continental AG, Karamba Security, Symantec Corporation, Daimler Trucks, Ford, GM, Honda, Nissan, Tesla Motors, Volvo Car Group, and Lear Corporation.

The market research report on automotive cyber security includes an in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2014 to 2024, for the following segments:

By Security

  • Hardware Security
  • Software Security
  • Network Security
  • Cloud Security

By Type

  • Passenger/Consumer Vehicle
  • Commercial Vehicle

By Application

  • On-board Diagnostic (OBD)
  • Communication
  • Safety Systems
  • Infotainment
  • Telematics

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Sweden
    • Norway
  • APAC
    • China
    • Japan
    • ANZ
    • South Korea
    • India
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • GCC         
    • South Africa

Frequently Asked Questions (FAQ) :

The market size of automotive cyber security surpassed USD 187 million in 2017.
The industry share of automotive cyber security is poised to grow at a CAGR of over 23% between 2018 and 2024.
The advent of connected vehicle system and initiatives by the Department of Transportation in the U.S. to cooperate to deal with the car hacking attacks have made North America market a lucrative avenue.
The emergence of advanced communication technologies such as V2V technology has fueled growth in the automotive cyber security space.
Some of the key players operating in the market are Audi, Argus Cyber Security Ltd., Arilou Technologies Ltd., BMW, BT Security, Cisco, Continental AG, Karamba Security, Symantec, Daimler Trucks, Ford, GM, Honda, Nissan, Tesla Motors, Volvo Car Group, and Lear Corporation.
Soaring demand for in-vehicle connectivity such as mobile phone connectivity, infotainment services and voice recognition has led stakeholders to count on passenger vehicle segment.

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Premium Report Details

  • Published Date: Jul 2018
  • Pages: 300
  • Tables: 274
  • Charts / Figures: 50
  • Companies covered: 26
  • Countries covered: 19

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