The Global Automotive Cyber-Security Market to Expand at a CAGR of 9% by 2023
Market
Analysis
The global automotive
cybersecurity market is
estimated to value USD 32 million, growing at a CAGR of 9% during the review
period from 2023 to 2030. The global automotive cybersecurity market 2023 is
expanding at a fast pace due to the adoption of the Internet of Things (IoT) in
the automotive industry. The market leaders are innovating constantly and
seeking market expansion through various tactics like rigorous research and
development, mergers and acquisition et al. The increasing data threats such as
cyber-attacks have also resulted in the expansion of the market at a global
level. Besides, the robust increase in the usage of smartphones and several
apps has aided in expanding the market.
The market is likely to propel during the
forecast period. With the increasing dependency and addiction to technology,
there has been a swift adoption of technology in several areas, which has
resulted in the expansion of the market. The automotive cybersecurity market is
very competitive due to initiatives taken by the government to secure the data
and rapid increase in the usage of web-based applications. However, due to lack
of awareness about technological dangers through the internet are some of the
factors that may act as an obstacle in the expansion of the automotive
cybersecurity market.
Key Players
The forefront players in the
global automotive cyber security market are 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), Secunet AG (Germany), NXP Semiconductors N.V.
(Netherlands), Intel Corporation (U.S.), Escrypt Embedded Systems (Germany),
and a few others.
Market
Segmentation
The automotive cybersecurity market can be
segregated on the basis of vehicle type, security type, application, and
region.
On the basis of vehicle type, the global
automotive cybersecurity market can be divided into a commercial vehicle and
comprises passenger cars.
On the basis of security type, the global
automotive cybersecurity market can be divided into endpoint security, wireless
security, comprises network security, application security, and cloud security.
On the basis of application, the global
automotive cybersecurity market can be divided into On-Board Diagnostic (OBD), Comprises Telematics, Infotainment,
Powertrain, Communication Channels, Safety Systems, and others.
On the basis of region, the global automotive cybersecurity market
can be divided into Europe, North America, Asia
Pacific, and the Rest of the World.
Regional Analysis
The geographical analysis of
Europe, North America, Asia Pacific, and the Rest of the World (RoW) has been
performed. As per the analysis, North America is dominating the global
automotive cybersecurity market and seizes the maximum market share. There have
been several cross-industry collaborations taking place between mobile network
operators (MNOs) and automotive original equipment manufacturers.
The collaborations took place
intending to increase internet connectivity and give a seamless experience to
the users while driving. The automotive cybersecurity market in the APAC region
is expected to expand at a significant CAGR from 2016 to 2022 due to the
presence of SMEs and large enterprises and their fast adoption of cloud-based
cybersecurity solutions.
The emerging economies like
India and China have a significant role in expanding the market. The European
market for automotive cybersecurity market is estimated to grow at a
significant CAGR during the forecast period from 2016 to 2022. With the
presence of developed economies like the U.K. and Germany, the region is likely
to expand considerably. The RoW is likely to show a moderate expansion during
the review period.
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