Automotive Cyber Security Market Size to exceed $837mn by 2024

Automotive Cyber Security Market size is set to exceed USD 837 million by 2024; according to a new research report by Global Market Insights, Inc.
 

The automotive cyber security market is benefiting from the investments made by the leading investors, who support automotive firms. These funds are used by the companies to scale up their cybersecurity profile, fighting against the rising cyberattacks.

 

Request Sample Buy NowInquiry Before Buying

 

Improvements in the standard of living and increased di sposable income have caused a shift toward the adoption of advanced vehicles offering various benefits such as in-car infotainment systems, navigation, and telematics. As these systems have become increasingly complex, they are more vulnerable to cyberattacks, contributing to the automotive cyber security attacks. The government agencies are also partnering with software providers for telematics cybersecurity solutions driving the automotive cyber security market growth.


Cloud security is the fastest growing segment in the automotive cyber security market, and it is projected that by 2024, approximately 30% of the vehicles globally will be deployed with cybersecurity cloud services. They examine and manage the fleets of vehicles through software such as management service, which enables them to assess the irregularities and identify unauthorized efforts to attack the connected vehicles. The automotive industry is making huge investments in the cloud technology to secure the automotive cloud environment.
 

Spain Automotive Cybersecurity Market Size, By Security, 2017 & 2024 (USD Thousand)
Automotive Cybersecurity Market

Get more details on this report - Request Free Sample PDF
 

The software security segment in automotive cyber security market is projected to grow at a CAGR of 24.5% over the forecast period. The proliferation of ECUs in the automobiles has also increased the attack surface making vehicles easily accessible to attackers. There are a large number of ECUs with different capabilities in the automobiles, making them necessary to provide software security to these systems.
 

The commercial vehicle segment is expected to grow at a CAGR of 34.5% over the forecast timeline as these vehicles play a major role in delivering the country’s goods and services and hence, protecting them from the rising cybercrime is a necessity. These vehicles also use relevant technologies to extend their connectivity and assist the businesses to enhance their working efficiency. It helps them in reducing fuel costs and increasing vehicular productivity boosting their demand.
 

Browse key industry insights spread across 300 pages with 273 market data tables & 51 figures & charts from the report, Automotive Cybersecurity Market Size 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), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Sweden, Norway, China, Japan, Australia, South Korea, India, Brazil, Mexico, Argentina, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024 in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-cybersecurity-market
 

The On-board Diagnostics (OBD) application is projected to grow at a CAGR of 31.7% over the forecast timeframe due to the rising advent of smartphones and enhanced miniaturization. The vehicle aftermarket manufacturers and startups attach these devices to the on-board diagnostic port present in the connected cars. As these OBD ports provide direct contact to the Controller Area Network (CAN) bus, it is necessary to protect these ports from cyber attackers. Furthermore, with the usage of these ports in various applications such as fleet management, consumer vehicle diagnostics, and mile-based insurance, the automobile providers should perform early security investigation of these devices to regulate their common vulnerabilities and control security risks.
 

The infotainment application is anticipated to reach an automotive cyber security market revenue of USD 83 million by 2024 as they deliver major benefits such as audio/ video calling, navigation, live music streaming, Bluetooth and USB connectivity, Wi-Fi, and in-car internet. These systems have access to more and more vehicle functions, making them more vulnerable to the cyberattacks. Various automobile firms are entering into strategic partnerships to secure their connected cars.
 

North America dominates the automotive cyber security market due to the rising collaboration between the automotive manufacturers and software providers to enhance their connected car safety and security. Furthermore, the U.S. and Canada are the main contributors of new automobiles deployed with the latest technologies, driving the market growth.   
 

The Asia Pacific automotive cyber security market is projected to grow at a CAGR of 33.3% over the forecast period due to the increasing demand for connected vehicles in this region. Increasing investments to develop advanced in-car services and connectivity infrastructure are also driving the market demand. Moreover, increasing research in the fields of malware detection and improved software in connected vehicles are also contributing to the growth. 
 

Various companies operating in the software and automobile industries are entering into strategic partnerships and collaborations to develop advanced automobile solutions, showcasing tremendous growth opportunities in this sector. The prominent vendors present in the automotive cyber security market include Audi, General Motors, Ford, BT Security, Daimler Trucks, Arilou Technologies Ltd., Argus Cyber Security Ltd., BMW, Honda, Nissan, Cisco Systems, Inc, Tesla Motors, Lear Corporation, Continental AG, Karamba Security, Volvo Car Group, and Symantec Corporation.   
 

Inquiry Before BuyingRequest Sample
 

The automotive cybersecurity market research report 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
       

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X