#AutomotiveCyberSecurity

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Automotive Cybersecurity Market to Reach US$ 25.5 Bn by 2034 with a 17.2% CAGR

Explore the future of the Automotive Cybersecurity Market in this in-depth analysis! 🚗💻 With the global industry valued at US$ 4.6 Bn in 2023, the market is projected to skyrocket to US$ 25.5 Bn by 2034, advancing at an impressive CAGR of 17.2% from 2024 to 2034.

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Escalating EV Sales to Aid Automotive Cybersecurity Market Growth

As per Inkwood Research, the Global Automotive Cybersecurity Market is expected to grow at a CAGR of 18.36% in terms of revenue over the forecasting period of 2024-2032.

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Automotive cybersecurity focuses on protecting vehicles from digital threats and unauthorized access. As vehicles increasingly incorporate advanced technology and connectivity, safeguarding against cyberattacks is crucial to ensure safety and privacy.

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This field addresses vulnerabilities in onboard systems, communication networks, and external interfaces to prevent malicious exploitation and ensure secure operation.

Rising EV Sales to Propel Automotive Cybersecurity Market Growth

The surge in electric vehicle (EV) sales is driving significant growth in the global automotive cybersecurity market. As EVs integrate sophisticated technologies and extensive connectivity features, they become more vulnerable to cyber threats, necessitating robust security measures. The increasing reliance on software and data communication in EVs amplifies the need for advanced cybersecurity solutions to protect against hacking and unauthorized access. This heightened demand for security is prompting automakers and technology providers to invest heavily in cybersecurity innovations. Consequently, the expanding EV domain is fueling rapid advancements and growth in the automotive cybersecurity sector, ensuring safer and more secure vehicle operations.

Connected Vehicle Security is Estimated to be the Leading Security Type

Connected network security is crucial for protecting a vehicle’s connections to external networks, such as cellular and Wi-Fi, from threats like man-in-the-middle attacks. This involves securing the Telematics Unit (TMU), which transmits sensitive data, through encryption and authentication methods to ensure secure communication. Proactive vulnerability management, including identifying and patching software and firmware weaknesses, is also essential. Additionally, Security Information and Event Management (SIEM) systems play a key role by analyzing real-time data to swiftly detect and address threats. Advanced diagnostics and remote monitoring by automotive manufacturers further enhance security by providing early detection and insights for effective response to potential cyberattacks.

In 2023, Asia-Pacific was the Largest Region in the Automotive Cybersecurity Market 

The APAC, with major automotive markets like China, Japan, and India, demands strong cybersecurity for its growing fleet of connected and autonomous vehicles. China leads the global automotive market, driving high demand for automotive cybersecurity due to extensive production, electric vehicle adoption, and advanced infotainment systems, supported by government initiatives. Japan also faces rising cybersecurity risks, prompting the government to enhance protections through bodies such as JAMA and JAPIA, addressing threats to vehicles and associated IT/OT systems.

The global automotive cybersecurity market is highly competitive, with numerous players striving to innovate and secure advanced vehicle systems against evolving cyber threats. Key industry rivals include established tech giants and specialized cybersecurity firms, all vying for dominance in an expanding sector driven by increasing vehicle connectivity and regulatory demands. Some of the leading companies operating in the market include Infineon Technologies AG, NXP Semiconductors NV, Robert Bosch GmbH, etc.

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About Inkwood Research

Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.

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Automotive Cybersecurity Market 2024 to 2030 Introducing New Industry Dynamics

The qualitative report published by Exactitude Consultancy research on the “Automotive Cybersecurity Market offers an in-depth examination of the current trends, latest expansions, conditions, market size, various drivers, limitations, and key players along with their profile details. The Automotive Cybersecurity market report offers the historical data for 2018 to 2023 and also makes available the forecast data from the year 2024 to 2030 which is based on revenue. With the help of all this information research report helps the Market contributors to expand their market positions. With the benefit of all these explanations, this market research report recommends a business strategy for present market participants to strengthen their role in the market. This report analyzes the impact of the Covid 19 pandemic on the Automotive Cybersecurity Market from a Global and Regional perspective.

The global automotive cybersecurity market is expected to grow at 16.4% CAGR from 2023 to 2029. It is expected to reach above USD 24.28 billion by 2029 from USD 6.24 billion in 2022.

For The Full Report Click here:

https://exactitudeconsultancy.com/reports/7483/automotive-cybersecurity-market/

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Increasing incidents of cyber-attacks on vehicles and massive vehicle recalls by OEM have increased awareness about automotive cybersecurity among OEMs globally.

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Automotive Cyber Security Market Size Worth $5.56 Billion By 2025

The global automotive cyber security market size is expected to reach USD 5.56 billion by 2025 expanding at a CAGR of 21.4% during the forecast period, according to a study conducted by Grand View Research, Inc. Increasing risks of data breaching due to rise in number of connected and automated vehicles will drive the market. Moreover, growing emphasis of OEMs on strengthening cyber security policies is expected to propel the demand for automotive cyber security over the projected period. Cloud infrastructure, mobile cross platforms, and automotive data taxonomy, are the key connectivity trends in the automotive cyber security market.

Technological advancements pertaining to network connectivity in autonomous vehicles are gaining traction owing to increasing data and volume of data exchange, which is also likely to contribute to the market growth. Moreover, onboard electronic information-control systems like tire-pressure, electric power steering, fixed-speed cruise control, and auto-braking sensors have become mandatory across all the vehicle categories. Other sophisticated systems are also making their way into automotive electronics applications, such as infotainment, ADAS, navigation, powertrain, and safety systems. This, in turn, would further increase the vehicle-to-everything communication, thereby creating lucrative growth opportunities for the market in automotive sector.

North America is the largest regional market due to increasing demand for autonomous vehicles and quick adoption of new technologies like smart antenna and connected car systems. Moreover, rising investments and stringent measures taken by the government towards incorporating cyber security policies for the automotive market have bolstered the regional market growth. Some of the prominent industry participants include Vector Informatik GmbH, Arilou Technologies, NXP Semiconductors N.V., Argus Cyber Security Ltd, ESCRYPT, Continental AG, and HARMAN International.

To request a sample copy or view summary of this report, click the link below: https://www.grandviewresearch.com/industry-analysis/automotive-cyber-security-market

Further key findings from the study suggest:

The     passenger car segment in Europe is expected to account for 77.1% by 2025     due to rising production of Electric Vehicles (EVs), development and     implementation of cyber security strategies, eco-friendly initiatives, and     growing scope of data exchange

Infotainment     application led the market in China due to quick adoption of advanced     vehicle technologies

Wireless     network security segment is expected to account for the largest share of     the global automotive cyber security market by 2025

Emphasis of     OEMs on capabilities offered by connected car systems that have enabled a     broad range of service and features contributes to growth of the market in     developed economies

See More Reports of This Category: https://www.grandviewresearch.com/industry/automotive-and-transportation

About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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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

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Key Factors for the Growth of Automotive Cybersecurity Market Across the Globe

According to the new market research report "Automotive Cybersecurity Market By Offering (Software & Hardware), Application Type, Form Type (In-Vehicle & External Cloud Services), Security Type, Vehicle Type (Passenger Vehicles, LCV & HCV), EV Application Type, And Region – Global Forecast to 2025" Published by MarketsandMarkets™, The global Automotive Cybersecurity Market size is projected to grow from USD 1.9 billion in 2020 to USD 4.0 billion by 2025, at a CAGR of 16.5%.

Increased use of electronics per vehicle and a growing number of connected cars, and reinforcement of mandates by regulatory bodies for vehicle data protection are key factors that will drive the market for the Automotive Cybersecurity Market. The growth of the V2X market is also one of the factors that drive the Automotive Cybersecurity Market.

Vehicle production was low in April and May 2020 in the major European, Asia Pacific countries, and the US due to the ongoing COVID-19 pandemic. Earlier, the Automotive Cybersecurity Market was expected to witness rapid growth from 2022 onward as major regulations are outlined to be imposed. As vehicle production is suspended, any new investment for advanced technology is unlikely. OEMs and tier 1 players are either using cash reserves or acquiring funds to continue operations during the crisis. OEMs are still skeptical about the recovery of vehicle sales to 2019 levels in 2020.

Opportunity: Growing cloud-based applications in the automotive industry

Cloud technologies are expected to benefit automotive users as well as OEMs. Cloud-based solutions increase the efficiency of the entire process by reducing downtime and providing faster data transfer and mobility. With the help of cloud-based solutions, OEMs can gather real-time data from their users. OEMs can focus on providing better services and gain customer loyalty by meeting customer’s requirements. Due to the increasing trend of cloud-based solutions, the leading automotive OEMs and automotive system OEMs across the world are strategically expanding by partnering with or acquiring companies that can provide countermeasures to overcome the challenges faced in the cloud-based solutions.

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The Automotive Cybersecurity Market is dominated by global players such as Robert Bosch (Germany), Continental AG (Germany), Harman International (US), Denso Corporation (Japan), Aptiv (Ireland), Karamba Security (Israel), SafeRide Technologies (Israel), Arilou Technologies (Israel), GuardKnox (Israel), etc.

Increasing use of mechatronics devices and increasing demand of connected vehicle services inside the vehicle is expected to result in the dominance of the passenger vehicle segment in the Automotive Cybersecurity Market

The passenger vehicles segment is expected to lead the Automotive Cybersecurity Market during the forecast period, owing to the demand for connected vehicle services and growing sales of mid-luxury and luxury vehicles.  The electrical/electronic (E/E) architecture of passenger vehicles is complex and critical than LCVs and HCVs. These vehicles are equipped with a considerable number of ECUs and are more prone to cyberattacks compared with the other two categories of vehicles. Connected passenger vehicles are expected to be the Internet of Things (IoT) in the coming years. These vehicles will be able to collect massive amounts of data from different sources. Passenger vehicles will be capable of exchanging data and alert drivers of potential dangers. These vehicles will also be able to interact with sensors on road signs on stoplights, bus stops, and even the ones embedded in the roads to get traffic updates and rerouting alerts.

Increasing installation of telematics devices and push by government authorities to adopt telematics is driving the Telematics segment in the Automotive Cybersecurity Market

The market for Telematics is primarily driven by multiple factors such as an increase in the number of accidents, rising vehicle thefts, security issues while traveling, and the demand for navigation services. Telematics also helps track the location of the vehicle, and its automated interface with law enforcement agencies reduces the response time. This eventually leads to a reduction in vehicular thefts. Telematics primarily involves data exchange such as vehicle details/history, location, schedules, driving habits & activities, and other key information of private as well as fleet owners. This data exchange is done through wireless networks with external servers, making it prone to data theft.  Thus, cybersecurity plays a key role in telematics since the breach of such data can have serious consequences for end-users. Government mandates such as E-calls are likely to fuel the market in future.

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The Asia Pacific likely to emerge as the largest Automotive Cybersecurity Market

Asia Pacific is always seen as a revenue-generating region in the automotive sector. Region comprises of technologically advanced countries like Japan, South Korea, and countries with increasing populations and improving economies. Vehicles in this region are getting advanced at the backdrop of customer need and implementation of government regulations related to vehicle safety and carbon emissions. All kinds of key vehicles categories like a passenger vehicle, light, and heavy commercial vehicles are getting advanced. Changes in the powertrain technology, the inclusion of modern safety features, and technology for vehicle management are some of the key trends that is helping Asia Pacific region to dominate the market for automotive cybersecurity. The growth of the connected vehicle market in the Asia Pacific 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.

Recent Developments:

·         In July 2020, Continental has adopted Renesas’ high-performance Renesas R-Car M3 system-on-chip (SoC) for its first-generation body high-performance computer (HPC). The HPC is an automotive computing platform that provides centralized control of vehicle systems and is equipped with secure gateway functionality to enable cloud service connectivity.

·         In June 2020, Upstream Security, announced that it had joined the Amazon Web Services (AWS) Partner Network as a Select Tier Technology Partner. Upstream Security pioneered automotive cloud cybersecurity and unlocked the value of automotive data, ensuring that connected vehicles and mobility services are safe, secure, and operating optimally.

·         In March 2020, Argus Cyber Security and NXP Semiconductor announced a new integrated solution that allows carmakers to protect Ethernet network communications based on the NXP S32G vehicle processor. The joint solution consists of 1) Argus' Ethernet Intrusion Detection System (IDS), which detects malicious activity at the network and application layers to keep drivers connected and protected. 2) NXP's S32G processor, a key building block for future vehicles, creates new opportunities with service-oriented gateways.

·         In March 2020, GuardKnox opened a new subsidiary in Detroit to support the automotive client base in North America and expand global reach. The Livonia location enables GuardKnox to serve its existing US customers better, build partnerships, and initiate business in the US. It is onboarding new business development leaders, project managers, and engineers.

·         In December 2019, SafeRide Technologies and NXP Semiconductors announced the integration of vSentry Edge AI –embedded behavioral profiling and anomaly detection solutions for connected vehicles with the NXP vehicle network processors.

·         In July 2019, Karamba Security announced the signing of a production agreement of its leading Carwall runtime integrity software, in Alpine infotainment systems. The platform provides ECU self-protection against remote code execution (RCE), helping to protect vehicles from cyberattacks.

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Automotive Cyber Security Market report categorizes the global market by Security Type (Network, Endpoint, Application, Wireless & Cloud), Area of Application (Infotainment, Telematics, OBD, Safety, Powertrain), Vehicle Type, and by Region