Automotive Cyber Security Market Industry/Innovation/Related News:
March 23, 2021 ----- Panasonic Corporation and McAfee Co.,
Ltd. announced their collaboration for building vehicle SOC to commercialize
vehicle security monitoring services. These companies would jointly build
vehicle SOCs that enable protection against cyber-attacks for connected
vehicles around the world. The automotive cybersecurity solutions would help
accurate detection and early response to attacks and help strengthen
Cybersecurity measures in the automotive industry.
Automotive Cyber Security Market Research Report
The automotive
cybersecurity market
is growing rapidly with the emerging autonomous driving/driverless vehicle and
connected car concepts. The risk of cyberattacks against automobiles is
increasing every year, becoming a paramount concern for the automotive
industry. The need to establish mechanisms to protect and monitor vehicles from
cyber-attacks drives the growth of the market.
The demand for the provision of
monitoring services for connected cars and the development of a safe and secure
mobility society around the world influence the market size. Besides,
government mandates for developing safe, connected cars, electric vehicles, and
autonomous vehicles boost the market share. Automotive engineers are
continually alarming threats to cars' processing power that could be hacked for
other activities such as mining bitcoins.
All these factors would continue to push
the growing consumer demand for the convenience of connectivity in their
vehicle and driving experience. These also indicate that the market is
projected to witness revenue growth in the years to come. In this regard,
Market Research Future (MRFR), a renowned research firm, states that the global
automotive cyber security market would garner significant growth by 2030,
registering a modest CAGR during the review period (2023 – 2030).
Global
Automotive Cyber Security Market –Segments
The automotive cyber security market
analysis is segmented into security type, vehicle type, application, and
region. The security type segment is bifurcated into network
security, endpoint security, application security, wireless security, cloud
security, and others. The vehicle type segment is bifurcated into passenger
cars and commercial vehicles.
The application segment is
sub-segmented into telematics, on-board diagnostic (OBD),
infotainment, communication channels, powertrain, safety systems, and others.
By regions, the market is sub-segmented into the Asia Pacific, Americas,
Europe, and rest-of-the-world.
Major Players: Players leading the global automotive
cyber security market include Harman International Industries, Inc. (U.S.),
Argus Cyber Security (Israel), Karamba Security (Israel), Cisco Systems Inc.
(U.S.), Intel Corporation (U.S.), NNG Software Developing and Commercial Llc.
(Hungary), NXP Semiconductors N.V. (Netherlands), Intel Corporation (U.S.),
Secunet AG (Germany), and Escrypt Embedded Systems (Germany), among others.
Global Automotive Cyber Security Market – Geographical Analysis
North America leads the global automotive
cyber security market. Numerous cross-industry collaborations are taking place
between automotive original equipment manufacturers and mobile network
operators (MNOs) to enhance the connected living experience for users while
driving. Also, the demand for undisrupted internet connectivity inside a
vehicle by users creates substantial market opportunities.
Large technological advances and the
presence of various connected mobility solution providers in the region
influence the market growth. Besides, the futuristic infrastructure in the
region drives the market growth, bringing about advanced connected mobility
platforms. Moreover, the rising efforts of automakers in discovering new
technologies to eliminate cyber attacks and give a safe journey experience
influence region's market share.
Europe stands second in the global
automotive cyber security market. The market is driven by rising technical
expertise and enormous investments in developing cybersecurity technologies,
and the proliferation of integrated and embedded connectivity. Additionally,
rapid advances in digital technology and increasing demand for automotive
cybersecurity solutions positively impact regional market growth.
The automotive cyber security market in
the Asia Pacific is emerging as a promising market globally. Factors such as
the augmenting demand for cybersecurity solutions in connected vehicles and
increasing adoption of smart & electric vehicles among people drive the
regional market growth. Automotive cyber security markets in Japan, China, and
India are growing exponentially, increasing the overall regional market share.
Global Automotive Cyber Security Market – Competitive Analysis
Fiercely competitive, the automotive
cyber security market witnesses a large presence of notable players. Players
focus on product development and incorporate strategic approaches, such as
collaboration, mergers & acquisitions, product launch, and expansion to
gain a larger competitive share. They make substantial investments to drive
R&D for the development of required technologies and expansion.
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