“Development in the field of vehicle internet of things (IoT), implementation of dedicated cybersecurity standards for the automotive industry, and increasing focus on state-of-the-art security countermeasures for the vehicle to fuel the demand for automotive cybersecurity”
The global automotive cybersecurity market is projected to grow at a CAGR of 23.16% during the forecast period, from USD 1.34 billion in 2018 to USD 5.77 billion by 2025. Growing number of connected cars and electronic content per vehicle and reinforcement of mandates by regulatory bodies for vehicle data protection are driving the automotive cybersecurity market. The increasing number of cloud-based applications in the automotive industry and technological advancements in the autonomous vehicle space are expected to create opportunities for the automotive cybersecurity market in the coming years. However, high cost involved in automotive cybersecurity and complex ecosystem with multiple stakeholders are a few restraining factors for the automotive cybersecurity market. The development of a pricing model of the automotive cybersecurity market and time lag of cybersecurity updates to market for maintenance and troubleshooting can pose challenges for the automotive cybersecurity market.
“External cloud services form segment to grow at a significant rate during the forecast period”
The automotive cybersecurity market for external cloud services form segment is projected to grow at the highest CAGR during the forecast period. The growth of automotive cybersecurity is driven by the increasing use of over-the-air (OTA) updates for vehicle software in developed as well as developing countries.
“Asia Pacific to lead the automotive cybersecurity market during the forecast period”
The Asia Pacific region is estimated to hold the largest share of the global automotive cybersecurity market in 2018. The increasing number of connected vehicles and growing awareness of green vehicles among people are expected to fuel the growth of the automotive cybersecurity market in the Asia Pacific region.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs.
The break-up of the primaries is as follows:
- By Company Type: Tier 1: 55%, Tier 2: 25%, Tier 3: 20%
- By Designation: C level: 48%, Manager level: 36%, Other: 16%
- By Region: Europe: 36%, North America: 30%, Asia Pacific: 24%, RoW: 10%
Major players profiled in the report are:
- Harman International (US)
- Continental AG (Germany)
- Robert Bosch (Germany)
- Denso Corporation (Japan)
- Aptiv (UK)
- Symantec (US)
- NXP Semiconductors (Netherlands)
- Honeywell International (US)
- Trillium Secure (US)
- Escrypt (Germany)
- Vector Informatik (Germany)
- Karamba Security (US)
- Saferide Technologies (Israel)
- Guardknox Cyber Technologies (Israel)
The report segments the automotive cybersecurity market and forecasts its size, by value, on the basis of region (Asia Pacific, Europe, North America, and Rest of the World), form (In-Vehicle, External Cloud Services), security type (Endpoint, Application, and Wireless Network), application (Telematics Systems, Infotainment Systems, Powertrain Systems, Body control & Comfort Systems, Communication Systems, ADAS & Safety Systems), vehicle type (Passenger Vehicle, Commercial Vehicle), and EV type (BEV, HEV, PHEV).
The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the automotive cybersecurity market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons To Buy the Report:
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights into the following points:
- Market Penetration: The report offers comprehensive information about the automotive cybersecurity market and the top 10 players in the market.
- Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive cybersecurity market.
- Market Development: The report offers comprehensive information about the automotive cybersecurity market. The report analyzes the automotive cybersecurity market across regions and provides comprehensive information about lucrative emerging markets.
- Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive cybersecurity market.