Jack danielAccording to MarkNtel Advisors study the Global Automotive Cybersecurity Market size was valued at USD 3.4 billion in 2023 and is projected to reach USD 12.24 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 19.5% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: Automotive Cybersecurity market
Global Automotive Cybersecurity Market Driver:
Ride-sharing Companies Expanding Worldwide – With the increasing populace, which is becoming more urbanized, the workforce is also growing. Hence, in the past few years, the usage of ride-sharing has been amplified. Therefore, ride-sharing companies have been receiving government support in various countries, to fulfill the growing demand for their services worldwide.
The ride-sharing service not only brings ease to consumers but also helps in reducing traffic on roads. Services like these have resulted in high demand, justified by the high level of comfort they offer to consumers. These services are further enabled to deliver greater consumer comfort, along with traffic reduction. Furthermore, these services are designed to mine sensitive user information, such as personal details & travel routes, so cybersecurity is of utmost importance. Hence, ride-sharing services have been contributing to driving the Automotive Cybersecurity Market. Further, ride-sharing companies are also coming up with advanced technology and solutions to enhance their consumer experience and gain market leadership in the forecast years.
Global Automotive Cybersecurity Market Challenge:
Consistent Emergence of New Security Threats – Recently, automotive cybersecurity has become an integral part of vehicles, specifically connected vehicles. However, the cyber threat has been increasing continually over the past years, which has posed a significant challenge to existing solutions for automotive cybersecurity. Also, hackers have been continually developing advanced mechanisms to get through the automobile’s software and garner sensitive user-related data. These advanced hacking mechanisms further require upgraded versions to solve cyber threats. Therefore, cybersecurity solution providers need to develop constant upgrades within their services based on upcoming hacking techniques.
This requires immense effort, time, and capital investments, which have been challenging the process of overall revenue generation in the Automotive Cybersecurity Market. Moreover, the consumer’s data gets exposed with upgraded hacking techniques, which has been affecting the major concern of trust and authenticity within the available solutions. As a result, these factors have hit the acceptance of automotive cybersecurity solutions negatively, further hampering the market growth as well.
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Scope of the Report and Automotive Cybersecurity Market Segmentation:
By Offering
- Hardware – Market Size & Forecast 2019-2030F, USD Million
- Software – Market Size & Forecast 2019-2030F, USD Million
By Vehicle Type
- Passenger Vehicles – Market Size & Forecast 2019-2030F, USD Million
- Light Commercial Vehicle (LCV) – Market Size & Forecast 2019-2030F, USD Million
- Medium & Heavy Commercial Vehicles (MHCV) – Market Size & Forecast 2019-2030F, USD Million
By Propulsion
- ICE Vehicles – Market Size & Forecast 2019-2030F, USD Million
- Electric Vehicles – Market Size & Forecast 2019-2030F, USD Million
By Vehicle Autonomy
- Non-autonomous Vehicles – Market Size & Forecast 2019-2030F, USD Million
- Semi-autonomous Vehicles – Market Size & Forecast 2019-2030F, USD Million
- Autonomous (Driverless) Vehicles – Market Size & Forecast 2019-2030F, USD Million
By Deployment Type
- Embedded – Market Size & Forecast 2019-2030F, USD Million
- Integrated (Cloud-based) – Market Size & Forecast 2019-2030F, USD Million
By Application
- Body Control & Comfort – Market Size & Forecast 2019-2030F, USD Million
- ADAS & Safety Systems – Market Size & Forecast 2019-2030F, USD Million
- Telematics System – Market Size & Forecast 2019-2030F, USD Million
- Infotainment System – Market Size & Forecast 2019-2030F, USD Million
- Powertrain System – Market Size & Forecast 2019-2030F, USD Million
- Other (On-board Diagnostics, Operational Data, etc.) – Market Size & Forecast 2019-2030F, USD Million
Telematics systems have been one of the largely used software, which collects sensitive user information, and requires high-level cybersecurity.
By Security
- Application Security – Market Size & Forecast 2019-2030F, USD Million
- Wireless Network Security – Market Size & Forecast 2019-2030F, USD Million
- Endpoint Security – Market Size & Forecast 2019-2030F, USD Million
- Others (Network Security, Cloud Security, etc.) – Market Size & Forecast 2019-2030F, USD Million
Automotive Cybersecurity Market Competitive Landscape
- Infineon Technologies AG
- Continental AG (Argus Cyber Security)
- Robert Bosch GmbH (ESCRYPT GmbH)
- Garrett Motion Inc.
- Intel Corporation
- Aptiv Plc.
- C2A Security
- Harman International Industries, Inc.
- Denso Corporation
- Honeywell International Inc.
- SBD Automotive
- NNG Software Developing and Commercial Llc.
- Karamba Security
- Vector Informatik GmbH
- Others
Automotive Cybersecurity Market Development:
- 2024: Infineon Technologies AG announced its recent collaboration with ETAS, an automotive software company. Through this collaboration, the company has integrated the ESCRYPT CycurHSM 3.x Automotive Security Software Stack into its AURIX™ TC4X Cybersecurity Real-time Module (CSRM) to enhance security levels, performance, and functionality.
- 2024: Continental AG (Argus Cyber Security) declared the launch of Argus Development Security Operations Platform (DevSecOps platform), which is specifically designed for automotive manufacturers facing complex security challenges.
Geographical Analysis:
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Note: If you require specific information not covered in the current report, we can provide it through customized option
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