Global Automotive Cybersecurity Market Report, Recent Trends, Growth Driving Factors, Challenges, Opportunities, Strategies, Recent Developments, Product Segments, and Growth Forecast 2019 – 2028
“Global automotive cybersecurity market” is projected to witness substantial growth rate over the 10-year forecast period. The global automotive cybersecurity market by operating environment report has been segmented on the basis of service, application, security, vehicle type, and region.
Automotive cybersecurity is a new and enhanced technology in the field of the automotive industry, which is based on implementation of Internet of Things (IoT) for car security. Automotive cybersecurity solutions are developed with various security systems that help protect the vehicle from various threats. It helps in managing potential risks, supports hardware protection to control engine unit, offers network monitoring system and navigation system, provides software to guard the vehicle, runs safety diagnostics, provides safeguard against infotainment system, among others. Automotive cybersecurity covers all the possible base security needs of cars and car-owners by using Internet connectivity.
Growing production and sales of connected cars and increasing popularity of autonomous driving have resulted in high risks of data breaching, thereby augmenting need for automotive cybersecurity. This is a major factor expected to drive growth of the global market. In addition, increasing adoption of E-mobility is another factor supporting market growth. Increasing adoption and demand for infotainment systems, communication units, telematics systems, and powertrain systems, among others is a key factor expected to drive demand for automotive cybersecurity to protect the network interface from hacks.
However, weak Internet connection and highly expensive software applications are some of the major factors that could restrain growth of the global automotive cybersecurity market.
Among the service segments, the in-vehicle segment accounted for major revenue share in the global automotive cybersecurity market in 2018. This can be attributable to increasing demand and adoption of end-point applications including mobiles, radios, smart antennas, among others.
Among the major application segments mentioned below, the infotainment segment is anticipated to account for major share in terms of revenue in the target market, owing to rising demand for infotainment systems including head-up displays and navigations systems, communication units, etc. The ADAS & safety system segment is projected to witness significant CAGR over the next 10-year period in the global market.
Among the security segments, the wireless network security segment is expected to dominate in terms of revenue share in the target market. Increasing adoption of connected cars and high possibilities of network interface attacks, combined with need to safeguard network security through restricted device management is expected to lead to high demand for automotive cybersecurity and drive revenue contribution from the segment. The application security segment is anticipated to witness highest revenue growth in terms of value in the target market over the upcoming few years.
By Vehicle Type:
The passenger vehicle segment, among the three vehicle-type segments, is estimated to hold a dominant position in terms of revenue share in the global automotive cybersecurity market. The electric vehicle segment is projected to grow at a significant growth rate in the global market over the 10-year period, owing to increasing adoption of EVs across the globe and rising number of initiatives by government of various developed and developing countries such as subsidies, EVs at cost-effective prices, etc.
The market in Asia Pacific is expected to register fastest growth rate in the global automotive cybersecurity market over the 10-year period, owing to increasing sales of electric vehicles, and rising inclination towards high-tech end cars by individuals in countries in the region.
The North America market is expected to dominate in the global market owing to presence of prominent players in the countries such as the US and Canada and high adoption of connected cars and self-driving cars in the region. The market in Europe is estimated to account for significant share in the global automotive cybersecurity market, owing to growing adoption of advanced cybersecurity connected car systems, and high purchasing power in countries in the region.
Global Automotive Cybersecurity Market Segmentation:
Global Market Segmentation, by Service:
- External Cloud Services
Global Market Segmentation, by Application:
- Telematics System
- Infotainment System
- Powertrain System
- Body Control & Comfort System
- ADAS & Safety System
Global Market Segmentation, by Security:
- Endpoint Security
- Application Security
- Wireless Network Security
Global Market Segmentation, by Vehicle Type:
- Passenger Car
- Commercial Vehicle
- Electric Vehicle
Global market segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Argus Cyber Security Ltd.
- Arilou Technologies
- Vector Informatik GmbH
- NXP Semiconductors N.V.
- HARMAN International
- Continental AG
- Karamba Security
- Robert Bosch GmbH
- Symantec Corporation
- Denso Corporation
- Honeywell International, Inc.
- Guardknox Cyber Technologies Ltd.
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