Emergen Research’s latest document, titled ‘Global Automotive Cybersecurity Market – Forecast to 2030,’ is one of the most sought-after market reports involving an in-depth analysis of the global Automotive Cybersecurity market. The report’s authors have offered necessary details on the latest Automotive Cybersecurity market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Automotive Cybersecurity industry entails useful insights into the estimated Automotive Cybersecurity market size, revenue share, and sales & distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future. Those are further intended to assist businesses involved in this sector in sound decision-making and formulating lucrative business plans. The primary addressees of this report include some of the globally renowned venture capitalists. The report offers these individuals a vivid description of the competitive spectrum of the global Automotive Cybersecurity market.
The global Automotive Cybersecurity market size reached USD 6.92 Billion in 2021 and is expected to register a revenue CAGR of 11.3% during the forecast period, according to latest analysis by Emergen Research. Rising demand for autonomous vehicles and increasing need for easy and convenient driving are expected to support market revenue growth between 2022 and 2030. In addition, implementation of rigorous road safety rules and regulations by governments of different countries is expected to drive revenue growth of the global market. Increasing number of vehicles on road is creating serious problems, such as traffic congestion and increase in road accidents. Therefore, governments of various countries are implementing stringent safety norms by mandating vehicle manufacturers and Original Equipment Manufacturers (OEMs) to integrate advanced safety technologies in vehicles to reduce road fatalities.
Research Report on the Automotive Cybersecurity Market Addresses the Following Key Questions:
- Who are the dominant players of the Automotive Cybersecurity market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Automotive Cybersecurity market?
- What are the key growth drivers and restraining factors of the Automotive Cybersecurity market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Automotive Cybersecurity market and its key segments?
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The report bifurcates the Automotive Cybersecurity market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
For the purpose of this report, Emergen Research has segmented into the global Automotive Cybersecurity Market on the basis of vehicle type, application and region:
Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
- Passenger Vehicle
- Commercial Vehicle
- Electric Vehicle
Application Outlook (Revenue, USD Billion; 2017-2027)
- ADAS and Safety
- Infotainment System
- Powertrain System
- Body Control and Comfort
- Telematics System
Security Type Outlook (Revenue, USD Billion; 2017-2027)
- Endpoint Security
- Application Security
- Wireless Network Security
Regional Landscape section of the Automotive Cybersecurity report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Automotive Cybersecurity market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
Denso Corporation, Aptiv, Escrypt, Continental AG, Karamba Security, Harman International, Saferide Technologies Ltd., Trillium Secure, Inc., NXP Semiconductors and Vector Informatik Gmbh among others.
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The automotive industry is rapidly incorporating technological advancements into its various facets. The onset of autonomous driving capabilities promises to move the sector into the next decade of technology-driven advancements. With this evolving technology comes the possibility of cyberattacks and malicious infiltration which is prompting increased efforts for securing safety protocols for vehicles. The global automotive cybersecurity market is expected to grow with a substantial CAGR of 18.9 percent from 2019 to 2026 and is estimated to reach USD 6.37B by the end of 2026.
The advancements in communication technology, the consistent rise in cyber-attacks and digital infrastructure, stringent government regulations and the intense competition in the industry are some of the major driving factors of the global automotive cybersecurity market. Automakers are required to adhere to stringent standards and regulations that enable the installation of secure software described as the Electronic Control Unit (ECU). The market is being driven by the need for strong cybersecurity in ECUs, as potential malicious activities could lead to hardware and software damage in the vehicle.
The battle for automotive cybersecurity is being fought by several dominant players in the market. Some of the top manufacturing companies in the market include, Trend Micro, Inc., Cisco Systems, Inc., Intel Corporation, Argus Cyber Security Ltd., Robert Bosch GmbH, Escrypt Inc., This Technology, LLC and Karamba Security.
These companies are offering a variety of services and solutions to automotive companies to strengthen their automated security. They are mostly working on nature-inspired and neural network-powered cyber defense mechanisms. Their focus is on offering an easy-to-apply solution that can spot anomalous and malicious activities in the network.
To conclude, it is evident that the automotive cybersecurity market is rapidly growing and is largely driven by a need for secure software and technologies in the industry. The introduction of various innovative solutions has further boosted the growth of the market, while the presence of the most prominent manufacturers in the market has further enhanced its momentum. It is essential for automakers to stay ahead of the game and better their technologies so that safety protocols can be secured and the user experience can be maintained.