Automotive Cyber Security Market to Witness an Outstanding Growth During 2018-2026
Global Automotive Cyber Security Market was valued US$ 78.48Mn in 2017 and is expected to reach US$ 850Mn by 2026 at a CAGR of about 34.69% during a forecast.Global Automotive Cyber Security Market is segmented into by form, by security, by application, by vehicle and by region. Based on form, automotive cyber security market is classified into In-Vehicle & External Cloud Services. In security are parted into Endpoint, Application & Wireless Network. In application are segmented into Infotainment, Powertrain, ADAS & Safety. In vehicle are divided into passenger vehicle, commercial vehicle, battery electric vehicle (BEV), hybrid electric vehicle (HEV) & plug-in hybrid electric vehicle (PHEV). Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Global industry Analysis and forecast 2018-2026.
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Driving factors of automotive cyber security market are rise in production of vehicle. Increase in demand and sales of commercial vehicles with technological advancements, increasing amount of vehicle electronic, government stringent emission norms, rising advent of smart transportation systems and higher disposable incomes of the consumers leading to higher demand. Rising primary safety from thefts and increasing probability of hacking increases the demand for security mechanisms in the automotive cyber security market.
High cost of system and complex ecosystem with multiple stakeholders can hamper the growth of Automotive Cyber Security Market.
In terms of Security, Endpoint segment is projected to grow at fastest during the forecast period. Endpoint security is most used in most of vehicles equipped with devices such as Wi-Fi, smartphone, and Ethernet that are connected to endpoint application. Increasing use of smartphone mirror link applications such as Android Auto and Apple Car Play and automobile maker’s servers are in need to be protected from tampering and disruption, connections must be secured from the cloud to the vehicle endpoint will boom for demand in automotive cyber security market.
In terms of Application, ADAS segment shares the largest market during the forecast period. ADAS technologies such as night vision, drowsiness monitoring system and road sign recognition systems among others growing at much faster pace. Rapidly expanding hybrid and electric vehicle market and the growth of the autonomous vehicles, will help augment the ADAS in automotive cyber security market. For Instance – European Union has mandated the automotive manufacturers to fit ADAS systems such as lane departure warning systems
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Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Emerging economics and strong presence of manufacturers in Japan, South Korea, China, and India will boost the market in this region. Changing in-vehicle electronic architecture, increasing in-vehicle services connected to the external cloud and expansion of leading OEMs of this region will create more opportunity in automotive cyber security market. China is the biggest producer of automobiles in the world and its government promoting the adoption of vehicles with higher fuel efficiency and lower emissions.
Harman International, Continental AG, Robert Bosch, Denso Corporation, Aptiv, Symantec, NXP Semiconductors, Honeywell International, Trillium Secure, Escrypt, Vector Informatik, Karamba Security, Saferide Technologies, Guardknox Cyber Technologies, Lear Corporation, Audi, BMW, Ford, Honda, Nissan, General Motors and Volvo Car Group.