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Reliable Data You Can Trust
A recent report published by Infinium Global Research on the automotive cybersecurity market provides in-depth analysis of segments and sub-segments in the global as well as regional automotive cybersecurity market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive cybersecurity market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global automotive cybersecurity market. According to the report, the global automotive cybersecurity market is projected to grow at a CAGR of 16% over the forecast period of 2021-2027. The global Automotive Cybersecurity Market was valued at USD 7 billion in 2021 and is expected to reach USD 18 billion in 2027.
Automotive cyber security is the software that safeguards data of the vehicle from being hacked. The automotive cyber security system is a combined method used to recognize, protect, improve security, and enhance privacy. The new innovative and advanced automotive cyber security vehicle will have cloud-based protection besides the engine control unit. Various software is used in vehicles to defend them such as cloud security services and network monitoring systems. The cybersecurity system helps the vehicle to perform its automotive operation smoothly. The advanced development of cybersecurity in-vehicle connectivity has improved the security of vehicles and decreased cyber-attacks. As per the experts, cybersecurity providers are having consequences in applying the proper costing strategy in several cases to increase the revenue.
The growing adoption of advanced technologies within the automotive sector is the prime reason for the rise in demand for a good and efficient security system. Rising cyber threats within the transportation and automobile sector will further boom up the demand. Furthermore, the improved research and development of automotive cybersecurity will propel the market growth within the forecast period. Increasing transportation and logistics facilities at the country level will increase the growth of the automotive cyber security market in the forecast period. Also, the increase in demand for commercial and passenger vehicles inbuilt with advanced technology together with the increase in income will create more opportunities for the market. However, the high cost of establishing the cyber security systems and also the high cost of recent vehicles during which the system is already built-in is the biggest growth restraint for the automotive cyber security market. The losses perceived by the automotive sector because of the spread of coronavirus disease have hampered the expansion of the market during the forecast period. Lack of technological advancement including lack of awareness in underdeveloped countries too may be available the way of the growing market.
Based on region, the world automotive cybersecurity market has been segregated into North America, Asia
Pacific, Europe, Middle East, and Africa. North America is projected to be the
leading region in the automotive cybersecurity market, during the forecast period.
The increasing demand for automobiles in this region due to the advancement of
the automotive sector and information technology has enhanced the growth of the
region. Europe is accounted as the second-largest market in the forecast
period. Supportive government regulation and rising investment will propel the
growth of the region. The Asia Pacific is anticipated to dominate the
automotive cybersecurity market during the forecast period. The market within
the region is anticipated to expand at a high rate of growth, as compared to
the market in other regions, due to an increase in the utilization of advanced
connected cars within the region. The rising use of vehicle-connected
infotainment systems and wireless network systems will accelerate the consumers
of connected vehicles in developing countries such as India and China. This
increased usage the advanced software in modern vehicles will drive the growth
of the region.
The report on global automotive cybersecurity market covers segments such as security, type, and application. On the basis of security, the sub-markets include hardware security, software security, network security, and cloud security. On the basis of type, the sub-markets include passenger/consumer vehicle, and commercial vehicle. On the basis of application, the sub-markets include on-board diagnostic (OBD), communication, safety systems, infotainment, and telematics.
The report provides profiles of the companies in the market such as Harman International Industries Inc., Argus Cyber Security, Karamba Security, Intel Corporation , NNG Software Developing and Commercial LLC, NXP Semiconductors N.V. , Secunet AG, Escrypt Embedded Systems , Robert Bosch GmbH, and GuardKnox Cyber Technologies Ltd.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the automotive cybersecurity market. Moreover, the study highlights
current market trends and provides forecast from 2021-2027. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
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