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Written by [email protected] » Updated on: October 23rd, 2024
According to TechSci Research report, “Global Automotive Cybersecurity Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Automotive Cybersecurity Market stood at USD 6 billion in 2022 and is anticipated to grow with a CAGR of 5.29% in the forecast period, 2024-2028. Because of new manufacturing processes and consumer-challenging technology, automotive cyber security is undergoing a rapid revolution influenced by socioeconomic and environmental changes. Vehicle connectivity is rapidly developing, opening new opportunities for innovative new features and enticing commercial tactics.
At the same time, the risk of cyber-attacks on automobile networks is increasing. Cyberattacks have caused financial losses as well as harm to vehicle safety and reliability. Autonomous vehicles have lately advanced significantly due to the adoption of technology such as artificial intelligence, machine learning, private 5G, edge computing, and high-performance processing units.
Edge computing helps autonomous vehicles manage a vast quantity of information at the edge, reducing latency and allowing vehicles to make data-driven choices in real-time.
The Global Automotive Cybersecurity Market has emerged as a critical and rapidly evolving sector within the automotive industry. With the proliferation of connected and autonomous vehicles, the need for robust cybersecurity solutions has become paramount. This market is driven by the increasing complexity of vehicle software and communication systems, which, while enhancing the driving experience and safety, also expose vehicles to a multitude of cybersecurity threats. As vehicles become more connected, relying on an intricate web of sensors, control units, and communication protocols, the attack surface for potential cyber threats widens. Consequently, the demand for effective automotive cybersecurity solutions has surged. These solutions encompass a range of technologies, including intrusion detection systems, encryption mechanisms, secure over-the-air (OTA) update processes, and security operation centers (SOCs) that monitor and respond to cyber threats in real time.
Firstly, the escalating complexity of vehicles' electronic control units (ECUs) and their interconnectedness with external networks and devices has amplified the attack surface for cybercriminals. As a result, the need for robust cybersecurity solutions has grown exponentially. Secondly, the automotive supply chain has become globally interconnected, involving multiple suppliers, which introduces vulnerabilities at various stages of production.
Coordinating cybersecurity measures across this complex supply chain is a challenge that the industry must address. Thirdly, regulatory compliance and certification requirements have become increasingly stringent, demanding comprehensive cybersecurity standards to ensure the safety and security of vehicles. Complying with these regulations is a necessity but also a significant cost and logistical challenge.
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Moreover, the awareness and acceptance of automotive cybersecurity solutions among consumers plays a pivotal role in market growth. Building trust in these technologies and communicating their benefits is a continuous endeavor. Finally, the integration of cybersecurity into legacy vehicles, which lack built-in security features, presents a formidable challenge. Retrofitting these vehicles without compromising their performance and safety is a technical and financial hurdle that the industry must overcome.
In navigating these challenges, the Global Automotive Cybersecurity Market is poised for significant expansion as it continues to innovate and adapt to the evolving threat landscape, thereby ensuring the future security and success of connected and autonomous vehicles.
The advent of connected and autonomous vehicles has transformed the automotive landscape. While these technologies enhance convenience and safety, they also introduce new cybersecurity risks. Ensuring the security of these vehicles is paramount, which fuels the demand for automotive cybersecurity solutions. Governments and industry organizations are increasingly establishing cybersecurity regulations and standards for vehicles. Compliance with these requirements necessitates investments in cybersecurity technologies and practices. The automotive sector has become a target for cybercriminals. Malicious actors can exploit vulnerabilities in a vehicle's software and communication systems to gain unauthorized access or control. The growing number and sophistication of cyber threats are driving the need for enhanced cybersecurity.
As awareness of automotive cybersecurity risks grows among consumers, there is a demand for vehicles that are not only technologically advanced but also secure. This awareness can drive market growth as consumers seek vehicles with robust cybersecurity features.
The global automotive supply chain is highly complex, with numerous suppliers contributing various components and software. Coordinating cybersecurity measures across this complex supply chain presents both challenges and opportunities for market growth. The development of emerging technologies, such as V2X (Vehicle-to-Everything) communication systems and smart cities, has expanded the potential attack surface. These technologies require advanced cybersecurity solutions to protect vehicles from cyber threats.
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“The Global Automotive Cybersecurity Market is undergoing rapid growth and transformation due to the increasing integration of technology in vehicles. With the proliferation of connected and autonomous vehicles, the need for robust cybersecurity solutions has become paramount. This market is driven by the escalating complexity of vehicle systems, the interconnectedness of vehicles with external networks, stringent regulatory requirements, and the imperative to build consumer trust in these technologies. The automotive cybersecurity market also faces the challenge of retrofitting legacy vehicles with cybersecurity features. Despite these hurdles, it is poised for significant expansion as it continually adapts to the evolving threat landscape, ensuring the safety, security, and privacy of vehicles and their occupants in an increasingly digital automotive world.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Automotive Cybersecurity Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vehicle Type (Passenger Cars, Commercial Vehicles), By Security Type (Application, Network, Endpoint), By Application Type (ADAS & Safety System, Infotainment, Body Electronics, Powertrain, Telematics), By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Automotive Cybersecurity Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Automotive Cybersecurity Market.
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1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2.1. Objective of theStudy
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Vehicle Type Market Share Analysis (Passenger Cars, Commercial Vehicles)
5.2.2. By Security Type Market Share Analysis (Application, Network, Endpoint)
5.2.3. By Application Type Market Share Analysis (ADAS & Safety System, Infotainment, Body Electronics, Powertrain, Telematics)
5.2.4. By Regional Market Share Analysis
5.2.4.1. Asia-Pacific Market Share Analysis
5.2.4.2. Europe & CIS Market Share Analysis
5.2.4.3. North America Market Share Analysis
5.2.4.4. South America Market Share Analysis
5.2.4.5. Middle East & Africa Market Share Analysis
5.2.5. By Company Market Share Analysis (Top 5 Companies, Others - By Value & Volume, 2022)
5.3. Global Automotive Cybersecurity Market Mapping & Opportunity Assessment
5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
5.3.2. By Security Type Market Mapping & Opportunity Assessment
5.3.3. By Application Type Market Mapping & Opportunity Assessment
5.3.4. By Regional Market Mapping & Opportunity Assessment
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis
6.2.2. By Security Type Market Share Analysis
6.2.3. By Application Type Market Share Analysis
6.2.4. By Country Market Share Analysis
6.2.4.1. China Market Share Analysis
6.2.4.2. India Market Share Analysis
6.2.4.3. Japan Market Share Analysis
6.2.4.4. Indonesia Market Share Analysis
6.2.4.5. Thailand Market Share Analysis
6.2.4.6. South Korea Market Share Analysis
6.2.4.7. Australia Market Share Analysis
6.2.4.8. Rest of Asia-Pacific Market Share Analysis
6.3. Asia-Pacific: Country Analysis
6.3.1. China Automotive Cybersecurity Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Vehicle Type Market Share Analysis
6.3.1.2.2. By Security Type Market Share Analysis
6.3.1.2.3. By Application Type Market Share Analysis
6.3.2. India Automotive Cybersecurity Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Vehicle Type Market Share Analysis
6.3.2.2.2. By Security Type Market Share Analysis
6.3.2.2.3. By Application Type Market Share Analysis
6.3.3. Japan Automotive Cybersecurity Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Vehicle Type Market Share Analysis
6.3.3.2.2. By Security Type Market Share Analysis
6.3.3.2.3. By Application Type Market Share Analysis
6.3.4. Indonesia Automotive Cybersecurity Market Outlook
6.3.4.1. Market Size & Forecast
6.3.4.1.1. By Value
6.3.4.2. Market Share & Forecast
6.3.4.2.1. By Vehicle Type Market Share Analysis
6.3.4.2.2. By Security Type Market Share Analysis
6.3.4.2.3. By Application Type Market Share Analysis
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