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Automotive Cybersecurity Market (By Security Type: Endpoint, Application, Wireless Network. By Vehicle Type: Private Vehicle, Commercial Vehicle, Electrical vehicle. By Application Type: Infotainment, Body Electronics, Powertrain, ADAS and Safety System, Telematics. By Region - North America, Europe , Asia-Pacific , LAMEA) - Global Market Analysis, Growth, Trends & Forecast, 2022-2032

Published Date : August 2022 | Report Id : AU109 | Format : Word PDF, PPT PDF, Excel | Slides : 150
Report Type : Syndicate Report

The global Automotive CyberSecurity market was valued at $2.3 billion in 2021 and it is expected to reach $17.1 billion at a CAGR of 19.5% between 2022 and 2032. Due to the rising cases of cyber-attacks on multiple automotive vehicles, the global Automotive CyberSecurity market is expected to witness growth opportunities during the forecast period from 2022 to 2032.

By region, Asia-Pacific accounted for the largest share in last couple of years, and is expected to lead the global Automotive CyberSecurity market.  

In automotive vehicles, cyber security is a type of protection for the individual car and electronic system as well as communication networks, control algorithms, software, and users. Additionally, this cyber security protects them from cyber-attacks, malicious attacks, and also from its damages. It also saves an automotive vehicle from any kind of manipulation and unauthorized access. In this modern age, technologies are becoming advanced which has been helping various automobile manufacturing companies to build innovative products associated with some software development companies. These major factors are anticipated to drive the market in the future. 

Automotive Cyber Security Market

Source: SAI Research

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Rising cases of cyber-attacks and related issues are generally increasing. These hackers try to exploit and manipulate the control of any vehicle and do something illegal to destroy the functionality of cars. Hence, this poses serious safety issues and dangerous cyber security concerns. Therefore, all these major factors are projected to drive the growth of the market. In addition, car manufacturers are focusing on new designs and developments to overcome these issues. Cloud-based security is becoming popular among several nations. With government support, some software companies are creating cloud-based security programs for the automotive industry. This would them to produce something new car according to customer requirements and the current scenario of cyber-threat. Thus, it would create growth opportunities for the Automotive CyberSecurity market globally.  

However, modern vehicles have multiple computers and software patches and codes on board including GPS, sound system, steering, brakes, and the engine itself. These systems sometimes are not properly protected, and thus, require a good cyber security system installed in the vehicle. Through this cyber security, a user and his car might be protected. ADAS technology is expected to be one of the best next-generation big transformation systems in the future. A lot of companies are adopting this technology for manufacturing their automobile system. Moreover, various key players globally are focusing on enhancing their business growth by implementing new business strategies which would help them to hold a strong position in the global market. These key players are also creating mergers and acquisitions to build up new vehicles for their large number of customers across multiple emerging nations. These are projected to accelerate market growth. However, some companies from under-developing countries are not capable of adopting these expensive cyber security technologies, which would hamper the market growth shortly.  

Based on security type, the global cyber security market is segmented into endpoint, application, and wireless network. The wireless network segment holds the largest share and has led the market over the past few years due to its increasing requirement in various automotive vehicle terminals. Connected vehicles are also driving the growth of the market, which is another factor helping this segment to drive the market growth. Moreover, due to its increased efficiency, access and availability, flexibility, cost savings, new growth opportunities, and coverage, the market is estimated to have a significant share during the upcoming years. On the other hand, the application segment is expected to become the second-fastest segment and is projected to witness a more significant market share. Several typical automotive applications such as vibrating analysis, ultrasonic inspection, mechanical testing, RADAR ranging, engine performance, and more are estimated to accelerate the growth of the market.  

In terms of vehicles, the global Automotive CyberSecurity market is categorized into private vehicles, commercial vehicles, electrical vehicles, and others. The private vehicle also known as the passenger vehicle segment holds the largest share of the market and is anticipated to propel the market growth during the upcoming years due to the increasing demand for connected vehicles service and solutions. In addition, sales of luxury vehicles are also rising which would propel the growth of the Automotive CyberSecurity market. Some of the countries in Europe and North America region are growing with the establishment of key players. These key players are focusing on producing innovative automotive productions with the help of several software developers such as Airbiquity, Aptiv, and others. This is projected to drive the market in the future. Furthermore, this segment is growing due to the rising adoption of V2X technologies that fulfill the requirement of safety, traffic, and pollution concerns.

By application type, the market is categorized into infotainment, body electronics, powertrain, ADAS and safety system, and telematics. Among these, infotainment has led the market with a significant share and is projected to become the largest category during the forecast period. It enhances the safety of the car, integrates a navigation system that works wonders, improves reception quality, and more. Due to these benefits, the infotainment segment is anticipated to drive the market over the upcoming years. However, ADAS and safety system has also led the market with significant market share due to technological advancement.  

Geographically, the global Automotive CyberSecurity market is segmented into North America, Europe, Asia-Pacific, Latin America, and Africa. Among these, the Asia-Pacific region accounted for the largest market share and is anticipated to hold its dominant position during the forecast period. The demand for automobiles is increasing in this region, which is a plus point for the growth of the Automotive CyberSecurity market. Most of the key players are located in this region which is another primary and positive factor for the market. These key players are focusing on increasing their current investments with the help of their national government. Many software developers are also supporting these initiatives to tackle many cyber threats and other online attacks in the automotive industry. These rising concerns would accelerate the growth of the Automotive CyberSecurity market in the future. On the other hand, North America is estimated to become the second-fastest market over the upcoming years due to the rising demand for Automotive CyberSecurity and the lifestyle changes of a large number of people over there.                                                                            

According to the study, key players such as Airbiquity (U.S), Aptiv Plc (U.S), Continental AG (Gemany), Arxon Technologies (U.S), Broadcom Inc (U.S), BMW (Germany), C2A Security (Israel), Denso Corporation (Japan), DigiCert (U.S), iGo (U.S), Karamba Security (Israel), Lear Corporation (U.S), Nvidia (U.S), Porsche SE (Germany), Upstream Security (Israel), RunSafe Security Inc (U.S), SafeRide Technologies (Israel), Samsung Electronics (South Korea), Trillium (U.S), Toyota Group (Japan), Vector Informatik (Germany), among others are leading the global Automotive CyberSecurity market.                         

Scope of the Report:

Report Coverage

Details

Market Size in 2021

US$ 2.3 Billion

Market Volume Projection by 2032

US$ 17.1 Billion

Forecast Period 2022 to 2032 CAGR

19.5%

Base Year:

2021

     Historical Data 

2019, 2020 and 2021

     Forecast Period

2022 to 2032

     Segments covered

By Security Type: (Endpoint, Application, Wireless Network)

By Vehicle Type: (Private Vehicle, Commercial Vehicle, Electrical vehicle)

By Application Type: (Infotainment, Body Electronics, Powertrain, ADAS and Safety System, Telematics)

     Geographies covered

North America, Europe , Asia-Pacific , LAMEA 

     Companies covered

Airbiquity (U.S), Aptiv Plc (U.S), Continental AG (Gemany), Arxon Technologies (U.S), Broadcom Inc (U.S), BMW (Germany), C2A Security (Israel), Denso Corporation (Japan), DigiCert (U.S), iGo (U.S), Karamba Security (Israel), among others

The Global Automotive CyberSecurity Market Has Been Segmented Into:

The Global Automotive CyberSecurity Market – by Security Type:

  • Endpoint
  • Application
  • Wireless Network

The Global Automotive CyberSecurity Market – by Vehicle Type:

  • Private Vehicle
  • Commercial Vehicle
  • Electrical vehicle

The Global Automotive CyberSecurity Market – by Application Type:

  • Infotainment
  • Body Electronics
  • Powertrain
  • ADAS and Safety System
  • Telematics

The Global Automotive CyberSecurity Market – by Regions:

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • Italy
  • U.K.
  • Russia
  • Rest of Europe Countries

Asia-Pacific

  • India
  • China
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific

LAMEA

  • Brazil
  • Saudi Arabia
  • Rest of LAMEA
Note: This table of contents is a content of a published report. As per client requirement, cross-sectional analysis across all industries or specific geography or ‘country-based’ analysis can be provided as a part of paid customization. Please place your queries on sales@sheeranalyticsandinsights.com or query@sheeranalyticsandinsights.com

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