Noida Chronicle

Automotive Cybersecurity Market: Size, Trends & Scenario (2021–2026)

 Breaking News
  • No posts were found

Automotive Cybersecurity Market: Size, Trends & Scenario (2021–2026)

April 25
22:44 2022
Automotive Cybersecurity Market by Form (In-Vehicle, External Cloud Services), Offering (Hardware & Software), Security, Application Type, Vehicle Type, Propulsion, Vehicle Autonomy, Approach, EV Application, and Region

The Global Automotive Cybersecurity Market size is projected to grow from $2.0 billion in 2021 to $5.3 billion by 2026, at a CAGR of 21.3%.

Increasing incidents of cyber-attacks on vehicles and massive vehicle recalls by OEMs have increased awareness about automotive cybersecurity among OEMs globally. Moreover, increasing government mandates on incorporating several safety features, such as rear-view cameras, automatic emergency braking, lane departure warning system, and electronic stability control, have further opened new opportunities for automotive cybersecurity service providers globally. As a result, there are various start-ups present in the automotive cybersecurity ecosystem. Government initiatives toward building an intelligent transport system have also further escalated the demand for cybersecurity solutions all over the world. Apart from this, the introduction of 5G technology is expected to accelerate the market growth in the coming years as well.

The Automotive Cybersecurity Market is dominated by global players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Harman International (US), DENSO Corporation (Japan), Aptiv PLC (Ireland), Karamba Security (Israel), SafeRide Technologies (Israel), Arilou Technologies (Israel), GuardKnox Cyber Technologies Ltd. (Israel),  Upstream Security Ltd. (Israel), and Green Hills Software. 

The Asia pacific automotive cybersecurity market is projected to hold the largest share by 2026.

The Asia Pacific accounted for the largest share in 2021 in the automotive cybersecurity market. The increasing sales of mid-sized and luxury vehicles coupled with growing awareness of active and passive safety features are the key factors driving the automotive cybersecurity market in the Asia Pacific. Another key factor driving the market growth in this region is the large production of passenger vehicles, coupled with the increasing penetration of connected cars and other advanced technologies. China and India are considered manufacturing hubs for the automotive industry. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), China and India together produce approximately 30 million vehicles every year. With an increase in the production of vehicles, the demand for vehicle electronics is expected to increase. This, in turn, is expected to drive the growth of the automotive cybersecurity market in the region.

Download PDF Brochurehttps://www.marketsandmarkets.com/pdfdownloadNew.asp?id=170885898

The growth of the connected vehicle market in the Asia Pacific region is expected to boost the demand for automotive cybersecurity. As the number of connected vehicles increases, the demand for cybersecurity in these vehicles would also increase. A key growth driver for the connected car technology in the Asia Pacific is the increased demand for infotainment and navigation services in China and India, where the demand for a better and connected driving experience is witnessing a rise. The Chinese government is committed to the growth of IoT with a great emphasis on the development of connected cars and has already invested more than USD 10 billion in the IoT industry since October 2010. The evolution of automotive telematics in Japan dates to 1997 when Toyota sold its first telematics solution in the country. The country has witnessed increasing sales of vehicles equipped with connected car features, which is expected to accelerate the growth of the automotive cybersecurity market.

The software segment is expected to dominate the global automotive cybersecurity market.

In terms of market share in the global automotive cybersecurity industry, the hardware to software ratio per vehicle is around 20:80. This is expected to change over the years with variations in hardware prices. 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. Therefore, the software segment is expected to hold the largest share in the automotive cybersecurity market during the forecast period globally.

Automotive Cybersecurity Market

Endpoint security is expected to be the fastest-growing security type in the global automotive cybersecurity market.

The endpoint security segment is expected to witness the fastest growth in Europe and the Asia Pacific during the forecast period. This growth can be attributed to the increased use of mirror link apps in these regions. Increasing safety and security concerns in these regions are also likely to propel the demand for endpoint security solutions. Presently, new vehicles contain approximately 100 million lines of code and are deployed with complex software by automobile manufacturers. To maintain the safety as well as security of a vehicle’s entire code base, OEMs are opting for endpoint security solutions. Moreover, the trend of a mobile workforce, BYOD, social media, and cloud synchronizing tools is expected to influence the expenditure on endpoint security solutions.

Request FREE Sample Reporthttps://www.marketsandmarkets.com/requestsampleNew.asp?id=170885898 

Recent Developments:

1. In November 2021, NXP Semiconductors collaborated with Ford Motor Company to deliver enhanced driver experiences, convenience, and services like over-the-air updates across its global fleet of vehicles, including the 2021 Ford F-150 pickup, Mustang Mach-E, and Bronco SUVs.In October 2021, Renesas Electronic Corporation acquired Celeno Communications (Israel) to develop more advanced Wi-Fi connectivity capabilities to deliver end-to-end connectivity solutions for clients and access points.

2. In September 2021, Harman International collaborated with Renault (France) to provide the Harman Kardon sound system to the Renault Mégane E-TECH 100% electric that is expected to be launched in 2022.

3. In July 2021, ETAS Korea, a subsidiary of Robert Bosch GmbH, signed a partnership agreement with Suresoft Tech Co., Ltd. (South Korea) to offer consulting services and solutions related to cybersecurity testing of in-vehicle systems to Korean automotive manufacturers and suppliers.

4. In July 2021, NXP Semiconductors collaborated with Moter Technologies, Inc. (US) to combine its new S32G2 high-performance automotive processors with MOTER’s insurance data science expertise and software. This is expected to enable vehicle data monetization with new and improved automotive insurance services.

5. In May 2021, ESCRYPT, a subsidiary of ETAS Inc, which is a subsidiary of Robert Bosch GmbH, partnered with Alyne GmbH and KPMG to offer joint expertise in developing the Product Security Organisation Framework (PROOF).In April 2021, Elektrobit collaborated with SUSE (Germany) to supply its EB corbos Linux OS to carmakers and Tier 1 suppliers in China.

6. In May 2021, Harman International introduced an end-to-end 5G Testing Lab for 5G CP devices in India. It is expected to equip technology providers like device manufacturers, chipmakers, Telcos, etc., to execute a variety of protocols and functional tests. This also helps validate and examine applications in a real 5G radio environment.

7. In December 2020, Elektrobit selected ArcherMind Technology (Nanjing) Co., Ltd. as a value-added distributor in China for reselling their software products as well as providing engineering and customer support services to their customers.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/cyber-security-automotive-industry-market-170885898.html