Passenger Cars Cybersecurity Market Projected Growth with 6.21% CAGR Forecast by 2028

According to TechSci Research report, “Global Passenger Cars Cybersecurity Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Passenger Cars Cybersecurity Market stood at USD 2.7 billion in 2022 and is anticipated to grow with a CAGR of 6.21% in the forecast period, 2024-2028. The Global Passenger Cars Cybersecurity Market is witnessing rapid growth and transformation as the automotive industry becomes increasingly digitalized and connected. With modern vehicles featuring advanced technology, connectivity, and automation, the need for robust cybersecurity measures has never been greater.

This market is driven by the critical imperative to protect vehicles and passengers from cyber threats that could compromise safety, data privacy, and the overall driving experience. One of the primary drivers of this market is the rising complexity of vehicle architecture, which includes numerous electronic control units (ECUs), sensors, and software components, creating a larger attack surface.

Additionally, the evolving cyber threat landscape presents continuous challenges, as cybercriminals develop innovative tactics to exploit vulnerabilities. Regulatory compliance and harmonization efforts are also influencing this market, with governments and industry organizations worldwide establishing cybersecurity standards and regulations to ensure the safety and security of connected vehicles.

Integrating cybersecurity solutions into legacy vehicles poses its own set of challenges, as does the imperative to educate consumers about cybersecurity risks and best practices.

The Global Passenger Cars Cybersecurity Market is currently undergoing a profound transformation driven by the rapid digitization and connectivity of modern vehicles. As automobiles evolve into highly sophisticated, interconnected entities, the need for robust cybersecurity measures becomes increasingly paramount.

The proliferation of digital technologies and vehicle connectivity is a primary driver of the Passenger Cars Cybersecurity Market. Modern vehicles are equipped with a plethora of sensors, communication modules, and software systems, enabling features like infotainment systems, remote diagnostics, and over-the-air updates.

While these advances enhance user experience, they simultaneously widen the attack surface for cyber threats. Cybercriminals may exploit these vulnerabilities to gain unauthorized access to vehicles or compromise their functionality.

The ever-evolving cyber threat landscape poses a significant driver and challenge for the market. Cybercriminals continually devise sophisticated techniques and attack vectors, targeting both vehicle systems and the broader connected ecosystem. Threats range from remote hacking of vehicle control systems to data breaches and ransomware attacks. Staying ahead of these evolving threats requires continuous research, innovation, and investment in advanced cybersecurity solutions.

Governments and industry organizations worldwide are recognizing the importance of cybersecurity in vehicles and implementing regulatory mandates and industry standards to ensure passenger safety. Regulations like the European Union's General Data Protection Regulation (GDPR) and the United States Cybersecurity and Privacy Regulations for Connected Vehicles compel automakers to adhere to specific cybersecurity criteria, failure of which may result in fines and reputational damage. Industry standards, such as those developed by the Automotive Cybersecurity Standards Committee (Auto-ISAC) and the International Organization for Standardization (ISO), provide guidelines for consistent cybersecurity practices.

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The transition toward autonomous and semi-autonomous vehicles is driving innovation and investments in cybersecurity. Autonomous vehicles rely heavily on complex software systems and sensors to perceive their surroundings and make critical driving decisions. Ensuring the integrity of these systems is paramount to prevent cyberattacks that could lead to accidents or unauthorized vehicle access. Consequently, automakers and technology companies are intensifying their efforts to develop advanced intrusion detection systems, secure communication protocols, and redundant control systems to enhance the cybersecurity of autonomous vehicles.

Data privacy concerns are emerging as a significant driver, particularly with the extensive data collection and transmission capabilities of connected vehicles. Users are increasingly wary of their personal data being collected and shared without consent. To address this, automakers are adopting encryption and data anonymization techniques while being transparent about data usage policies. Regulations like GDPR are also forcing the industry to prioritize data protection and user privacy.

Major companies operating in the Global Passenger Cars Cybersecurity Market are:

• Intel Corporation
• Escrypt Embedded Systems
• Arilou Passenger Cars Cybersecurity
• DENSO CORPORATION
• Continental AG,
• HARMAN International
• Robert Bosch GmbH
• Cisco Systems Inc.
• Argus Cyber Security
• Karamba Security

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“The global passenger cars cybersecurity market is experiencing rapid growth driven by the increasing integration of advanced technologies in vehicles. With the rise of connected and autonomous vehicles, cybersecurity has become paramount to safeguard against potential threats. Manufacturers are investing in robust cybersecurity solutions to protect vehicle systems and sensitive data. The growing awareness among consumers about the importance of vehicle cybersecurity is also fueling market expansion. Government regulations and standards for automotive cybersecurity are further propelling market growth, with the aim of ensuring passenger safety and data privacy. Additionally, the proliferation of electric and hybrid vehicles is opening new avenues for cyber threats, necessitating stronger security measures. As a result, the global passenger cars cybersecurity market is expected to witness continued expansion as the automotive industry evolves into a more connected and digitized landscape.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Passenger Cars 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 Passenger Cars 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 Passenger Cars Cybersecurity Market.

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Table of Content-Passenger Cars Cybersecurity Market

1. Introduction

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. Research Methodology

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. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on Global Passenger Cars Cybersecurity Market
5. Global Passenger Cars Cybersecurity Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Security Type Market Share Analysis (Application, Network, Endpoint)

5.2.2. By Application Type Market Share Analysis (ADAS & Safety System, Infotainment, Body Electronics, Powertrain, Telematics)

5.2.3. By Regional Market Share Analysis

5.2.3.1. Asia-Pacific Market Share Analysis

5.2.3.2. Europe & CIS Market Share Analysis

5.2.3.3. North America Market Share Analysis

5.2.3.4. South America Market Share Analysis

5.2.3.5. Middle East & Africa Market Share Analysis

5.2.4. By Company Market Share Analysis (Top 5 Companies, Others - By Value & Volume, 2022)

5.3. Global Passenger Cars Cybersecurity Market Mapping & Opportunity Assessment

5.3.1. By Security Type Market Mapping & Opportunity Assessment

5.3.2. By Application Type Market Mapping & Opportunity Assessment

5.3.3. By Regional Market Mapping & Opportunity Assessment

6. Asia-Pacific Passenger Cars Cybersecurity Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Security Type Market Share Analysis

6.2.2. By Application Type Market Share Analysis

6.2.3. By Country Market Share Analysis

6.2.3.1. China Market Share Analysis

6.2.3.2. India Market Share Analysis

6.2.3.3. Japan Market Share Analysis

6.2.3.4. Indonesia Market Share Analysis

6.2.3.5. Thailand Market Share Analysis

6.2.3.6. South Korea Market Share Analysis

6.2.3.7. Australia Market Share Analysis

6.2.3.8. Rest of Asia-Pacific Market Share Analysis

6.3. Asia-Pacific: Country Analysis

6.3.1. China Passenger Cars 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 Security Type Market Share Analysis

6.3.1.2.2. By Application Type Market Share Analysis

6.3.2. India Passenger Cars 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 Security Type Market Share Analysis

6.3.2.2.2. By Application Type Market Share Analysis

6.3.3. Japan Passenger Cars 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 Security Type Market Share Analysis

6.3.3.2.2. By Application Type Market Share Analysis

6.3.4. Indonesia Passenger Cars 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 Security Type Market Share Analysis

6.3.4.2.2. By Application Type Market Share Analysis