Automotive Cybersecurity Market Analysis

Automotive Cybersecurity Market Analysis

The passenger vehicle segment accounted for 60% of the automotive cybersecurity market share in 2022. The increasing integration of advanced connected features in passenger vehicles, such as infotainment systems, passenger vehicle telematics, and autonomous capabilities, is driving the demand for robust automotive cybersecurity solutions. Protecting sensitive data and ensuring the safety of passengers & vehicle systems fuel the market growth.
 

For instance, in April 2023, Hyundai Motor Group and Aptiv announced a USD 4 billion joint venture, Motional, to develop autonomous driving technology. Similarly, in March 2023, Toyota invested USD 500 million in Pony.ai, a Chinese company developing self-driving technology for use in both taxis and cars. As autonomous vehicles improve, forging partnerships to fortify cybersecurity measures becomes instrumental in addressing emerging threats and fostering trust in the transformative landscape of self-driving vehicles.
 

The in-vehicle cybersecurity segment held over 68% of the automotive cybersecurity market share in 2022, due to the rapid proliferation of connected vehicles. With vehicles becoming digital hubs, safeguarding sensitive data and ensuring real-time protection against cyber threats will drive the in-vehicle cybersecurity segment growth.
 

North America automotive cybersecurity market size dominated around USD 1 billion in 2022. The market experiences a unique growth driver through the convergence of stringent autonomous vehicle regulations and the imperative for robust security. As the region witnesses accelerated testing and deployment of autonomous vehicles, regulatory bodies mandate rigorous cybersecurity protocols to ensure public safety & data protection. This alignment creates a niche for specialized cybersecurity solutions that cater to both compliance and advanced threat mitigation, offering a competitive edge to companies capable of seamlessly integrating regulatory compliance with cutting-edge security measures in the dynamic landscape of autonomous mobility.