The global automotive cyber security market is predicted to touch USD 32 Million at a 9% CAGR over the forecast period (2017-2023), reveals the latest Market Research Future (MRFR) report. Cybersecurity affects people on multitude of levels. This when applied to vehicles takes on a very vital role. Components and systems which govern safety should be protected against damage, unauthorized access, harmful attacks or anything that may interfere with the safety function. Automotive cyber security is a combined process of defense that helps to detect, correct and protect, and also recognize as well as avoid threats. Latest automotive cybersecurity vehicles are predicted to be equipped with hardware-based protection surrounding the engine control unit, network monitoring system, software implemented in cars to defense them, cloud security services, privacy for protection and correct data privacy. Cybersecurity and connectivity go hand in hand in the current technology centric world. Features and services such as entertainment, remote access, diagnostics, and navigation are turning more commonplace.
Various factors are pushing the growth of the automotive cyber security market. These factors, in accordance to the Market Research Future (MRFR) report, include growing use of e-mobility, technological developments in autonomous and semi-autonomous vehicles, growing number of cloud-based applications in automotive industries and constant innovation as well as launches of ICT technologies. Additional factors pushing the market growth include increasing cyberattack threats in the automotive and transportation systems, growing adoption of telematics services, advancement in vehicle connectivity and internet of things, preference of end users for car connectivity features, increasing investments made by start-ups for product development and collaborations between security solution providers and automakers.
On the contrary, soaring price of connected vehicles and high cybersecurity system installation cost are factors that may restrict automotive cyber security market growth over the forecast period.
The Market Research Future report offers a wide segmental analysis of the automotive cyber security market on the basis of type, vehicle type and application type.
Based on type, the automotive cyber security market is segmented into cloud, wireless, application, endpoint and network. Of these, the endpoint segment will have the largest share in the market over the forecast period.
Based on vehicle type, the automotive cyber security market is segmented into commercial vehicle and passenger vehicle. Of these, the passenger vehicle segment will dominate the market over the forecast period.
Based on application type, the automotive cyber security market is segmented into safety systems, powertrain, communication channels, infotainment, on board diagnostic and telematics. Of these, powertrain will lead the market over the forecast period.
Based on region, the automotive cyber security market report covers growth opportunities and latest trends across Asia Pacific (APAC), Europe, North America and Rest of the World (RoW). Of these, North America will remain the forerunner in the market over the forecast period. This is owing to the growing inter industry collaborations among mobile network operators and automotive manufacturers in order to maximize internet connectivity.
The automotive cyber security market in the APAC region will have a healthy growth over the forecast period. With a huge number of enterprises and small and medium enterprises that are internationally recognized in this region using cloud-based cyber security, the market growth here is predicted to be strong by 2023. Increasing urbanization, increasing purchasing power and changing lifestyle are the other factors that is predicted to push the market growth in the APAC region over the forecast period.
Leading players profiled in the automotive cyber security market report include Secunet AG (Germany), Escrypt Embedded Systems (Germany), NXP Semiconductors N.V. (Netherlands), Intel Corporation (U.S.), NNG Software Developing and Commercial Llc. (Hungary), Cisco Systems Inc. (U.S.), Intel Corporation (U.S.), Karamba Security (Israel), Harman International Industries, Inc. (U.S.), Argus Cyber Security (Israel), among others.
June 2019- Leading automotive cybersecurity company, SafeRide Technologies has joined hands with Renault-Nissan-Mitsubishi Alliance to test their cybersecurity solutions on cars at Alliance’s Innovation Lab in Tel Aviv.