Global Automotive Cybersecurity Market (2020-2025) | | #cybersecurity | #cyberattack | #cybersecurity | #infosecurity | #hacker

The Global Automotive Cyber Security Market is projected to reach $4.0 billion by 2025, from $1.9 billion in 2020, at a CAGR of 16.5%.

The growth of the market is driven by the growing demand for added infotainment, telematics, convenient features and stringent safety mandates for a safer driving experience. The automotive cybersecurity market has promising growth potential due to several factors, including increasing use of mechatronics devices inside the vehicle, increasing consumer demand for added safety and entertainment features, improving vehicle connectivity and vehicle management.

The automotive cybersecurity market is dominated by global players such as Robert Bosch (Germany), Continental AG (Germany), Harman International (US), Denso Corporation (Japan), Aptiv (Ireland), Karamba Security (Israel), SafeRide Technologies (Israel), Arilou Technologies (Israel), GuardKnox (Israel), etc.

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The Asia Pacific is estimated to account for the largest market share in 2020, followed by Europe and North America. The growing awareness of active and passive safety features among people and increasing sales of mid-sized and luxury vehicles are the key factors driving the automotive cybersecurity market in the Asia Pacific. Several OEMs have shifted their automobile manufacturing plants to emerging countries because of low labour costs, ease of doing business, and the availability of raw materials. Several well-known semiconductor companies have their manufacturing hubs in the Asia Pacific region as well. This helps them maintain an effective supply chain of their products for the automakers.

The report segments the automotive cybersecurity market by form type into in-vehicle and external cloud services. With the increasing cloud adoption, smart devices, and IoT penetration, the number of applications for external cloud services has increased in the automotive market. With the increasing use of external cloud services, OEMs and tier 1 suppliers are focusing on developing vehicles that would be relying on distributed computing from conventional distributed ECUs. Manufacturers are looking for cost-effective solutions along with better resource planning. Fleet management systems, over the air updates, V2X, and other IoT applications and services are the major applications of external cloud services. The automotive component and technology manufacturers have started creating their cloud servers to support their products and services. For example, in 2016, Bosch deployed its cloud for the Internet of Things (IoT) for augmenting its global revenue. Bosch IoT Cloud comprises technical infrastructure as well as platform and software offerings. Safety, security, and convenience are the major goals for the manufacturers and, therefore, external cloud services play a key role in managing these goals.

The report segments the automotive cybersecurity market by offering types into hardware and software. Software is considered the main building block of any cybersecurity solution. Software is a set of codes written in the flash memory of the ECU/control units. Codes for cybersecurity in particular control units are written for authentication or giving permission to perform certain operations or send any signal/data to ECUs. This software is used for cybersecurity of domain-specific ECUs or communication protocols inside the vehicle. In the automotive cybersecurity space, several players are known for providing software stacks to either Tier I, II, or OEMs. Few of the OEMs are also hiring technicians and software engineers to develop in-house software required for automotive cybersecurity solutions for their vehicles. Cybersecurity software inside the vehicle requires the implementation of a number of security functionalities such as secure protocols, identity and access management, intrusion detection, and abstraction layers for crypto functions. These functionalities are then used by the functional ECUs to secure communications and avoid the creation of backdoors. The software offering segment offers lucrative opportunities for market players, as these are the main building blocks of cybersecurity solutions.

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The report segments the automotive cybersecurity market by application type into telematics, communication system, ADAS & safety, infotainment, body control & comfort, and powertrain system. A vehicle is more prone to cyberattacks with an increase in automotive electronics, especially the number of ECUs per vehicle. Cybersecurity solution providers are focusing on providing holistic cybersecurity solutions for various applications in vehicles. Telematics is primarily driven by multiple factors such as an increase in the number of accidents, rising vehicle thefts, security issues while travelling, and the demand for navigation services. Telematics primarily involves data exchange such as vehicle details/history, location, schedules, driving habits & activities, and other key information of private as well as fleet owners. This data exchange is done through wireless networks with external servers, making it prone to data theft. Thus, cybersecurity plays a key role in telematics since the breach of such data can have serious consequences for end-users.

The report segments the automotive cybersecurity market by vehicle type into passenger cars and commercial vehicles. The passenger vehicles segment is expected to dominate the automotive cybersecurity market during the forecast period. This is because of the high volume of connected passenger vehicles compared to connected LCVs and HCVs. Connected passenger vehicles are expected to be the Internet of Things (IoT) in the coming years. These vehicles will be able to collect massive amounts of data from different sources. Passenger vehicles will be capable of exchanging data and alert drivers of potential dangers. These vehicles will also be able to interact with sensors on road signs on stoplights, bus stops, and even the ones embedded in the roads to get traffic updates and rerouting alerts.

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This release was published on openPR.

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