Automotive Cybersecurity Market Promising Growth Of Us$ 10.5 Billion Forecast To 2031 | Aptiv, Bosch Mobility, Capgemini

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Automotive cyber security Market

Key trends like Emergence of IoT and connected vehicle technology are driving the industry.

WILMINGTON, DELAWARE , UNITED STATES, September 6, 2023/EINPresswire/ -- The global“Automotive Cybersecurity Market” is set to grow from US$ 2.7 Billion in 2022 to US$ 10.5 Billion by 2031, at a CAGR of 16.6%.

The rising demand for connected vehicles has led to a higher electronic content per vehicle, making vehicles more susceptible to cyber-attacks. This has resulted in a surge in the demand for automotive cybersecurity solutions worldwide. Additionally, the emergence of software-defined vehicles and increasing sales of electric vehicles are expected to contribute to the revenue growth of the automotive cybersecurity market globally in the coming years.

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Key Insight of the Automotive Cyber Security Market

.Adoption of Adaptive Security to Fuel Market Growth

Increase in adaptive security in the automotive sector is likely to fuel market statistics during the forecast period. Adaptive security is a cybersecurity method that monitors behaviors and events to foresee potential threats and prepare for them in advance. Several organizations use an adaptive security architecture to offer proportional enforcement that can be modified while continuously monitoring risk.

.Rise in Need for Automotive Cyber Security

The automobile business is changing as vehicles become increasingly connected to everything, including traffic lights and other gadgets. Use of new technology is widespread, and examples include self-driving cars, shared mobility, electrified vehicles, and advanced driver assistance systems (ADAS).
In addition to enhancing comfort and safety on roadways, these technologies also make this intricate and dynamic environment more open to invasions. Attack points grow as the ecosystem gets more integrated, revealing fresh openings for hackers to compromise user privacy, vehicle safety, and the integrity of automotive data. Rise in number of connected car breaches is predicted to fuel the market dynamics in the near future.

.Increasing Demand in Vehicle Infotainment System

ADAS & safety, body control & comfort, communication systems, electronic control units, infotainment, on-board diagnostics, powertrain systems, and telematics, are some of the applications that make up the automotive cyber security market. The infotainment application segment dominated the global market and held 41.3% share in 2022.

.Surge in Demand for Passenger Vehicles

As per the latest automotive cyber security market sales analysis, in terms of vehicle type, the passenger vehicle segment dominated the global market and held 64.5% share in 2022. As per the latest automotive cyber security industry trends, this segment is likely to maintain its dominance during the forecast period.

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Key Developments

.In July 2021, NXP Semiconductors and MOTER Technologies collaborated to extend connected vehicle insurance opportunities. NXP's new S32G2 high-performance automotive processors combined with MOTER's insurance data science expertise and software are expected to enable vehicle data monetization with new and improved automotive insurance services.
.In July 2021, ETAS Korea signed a partnership agreement with Suresoft Tech. Co., Ltd. to jointly provide consulting services and solutions related to cybersecurity testing of in-vehicle systems to Korea-based automotive manufacturers and suppliers

Some of the dominant stakeholders operating in the automotive cybersecurity market

Aptiv, Bosch Mobility Solutions, Capgemini, Continental AG (ArCyber Security), Cybellum Ltd., ETAS,Infineon Technologies AG, Karamba Security, Lattice Semiconductor, Microchip Technology, NXP Semiconductors, SBD Automotive Ltd, Sectigo Limited, SECURETHINGS, STMicroelectronics, Samsung Electronics Co., Ltd, Synopsys, Tata ELXSI, Upstream Security Ltd, Vector Informatik GmbH

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Scope of the Report:

Automotive Cybersecurity Market, by Offering

.Software
.Hardware

On the basis of Form,

.In-vehicle
.External Cloud Services

On the basis of Security Type,

.Application
.Cloud Security
.Endpoint
.Wireless Network
.Others

On the basis of Vehicle Type,

.Passenger Vehicle
Hatchback
Sedan
Utility Vehicle
.Light Commercial Vehicle
.Heavy Duty Truck
.& Coach

On the basis of Propulsion,

.IC Engine
Gasoline
Diesel
.Electric
Battery Electric
Plug-in Hybrid Electric
Fuel-cell Electric

On the basis of Application,

.ADAS & Safety
.Body Control & Comfort
.Communication Systems
.Electronic Control Units
.Infotainment
.On-board Diagnostics
.Powertrain Systems
.Telematics
.Others

Some of the questions scrutinized in the research report

.What is the current size of the Automotive Cybersecurity market?
.What are the key factors influencing the growth of Automotive Cybersecurity?
.What are the major applications for Automotive Cybersecurity?
.Who are the major key players in the Automotive Cybersecurity market?
.Which region will provide more business opportunities for Automotive Cybersecurity in future?

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Nikhil Sawlani
Transparency Market Research Inc.
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