New Delhi, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Global Automotive Cyber Security market is growing at a high CAGR due to the rising desire for connected and semi-autonomous vehicles. The E/E architecture and software coding of vehicles became increasingly complicated, making them more susceptible to cyber attacks. Therefore, the market for automotive cyber security solutions has been growing quickly in order to protect the vehicles from such attacks. Car connection and safety are gradually taking center stage in mid-range and luxury vehicles.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Automotive Cyber Security market was worth USD 2.1 billion in the year 2021. The market is projected to grow at a CAGR of 19.9%, earning revenues of around USD 7.5 billion by the end of 2028. The Global Automotive Cyber Security market is booming due to the rising desire for connected and semi-autonomous vehicles. The E/E architecture and software coding of vehicles became increasingly complicated, making them more susceptible to cyber-attacks. Therefore, the market for automotive cyber security solutions has been growing quickly in order to protect vehicles from such attacks. Car connection and safety are gradually taking center stage in mid-range and luxury vehicles. Government efforts to create an intelligent transportation system have also increased global demand for automotive cyber security solutions.
Governmental Efforts to Adopt Connected Car Technology Is Driving Market Growth
The United States Department of Transportation (USDOT) is committed to fostering creativity, security, and a new mode of transportation while maintaining the nation's position as a global leader in automation. Therefore, the USDOT is serving as a convener and facilitator, working with a large coalition of industry, academic, state, and municipal safety advocacy and transportation partners in order to aid in the safe development, testing, and integration of connected vehicle technology. The USDOT created the Automated Vehicles Comprehensive Plan in January 2021 with the aim of increasing the Department's efforts to prioritize safety while making transportation-related plans for the future.
In order to realize this vision for Automated Driving Systems (ADS), the plan outlines three goals: prepare the transportation system, modernize the regulatory environment, and foster cooperation and openness. These goals are all based on concepts presented in the program for Automated Vehicles (AV) 4.0. Additionally, the European Commission gave automakers instructions in 2016 to ensure that new models feature a variety of digital technologies that helps lower fuel consumption and make roads safer as part of an EU policy on internet-connected vehicles. In the European markets, a number of firms have introduced their linked car models, including Volkswagen and Renault Nissan Alliance. The cyber security ecosystem is of utmost importance to protect connected vehicles against evolving cyber-attacks. These governmental measures are anticipated to hasten connected car development worldwide. The growing demand for connected automobiles is anticipated to drive the growth of the worldwide automotive cyber security market during the projected period.
Request for Sample Report @ https://www.blueweaveconsulting.com/report/automotive-cyber-security-market/report-sample
In-Vehicle Segment Is Anticipated To Dominate The Market By Form
On the basis of form, the market is segmented into in-vehicle and external cloud services. In- Vehicle segment is likely to show the largest growth over the forecast period. In comparison to a car with a complicated electronic architecture, which may have more than 100 ECUs, the average vehicle has 60 to 70 installed Electronic Control Units (ECU). ECU and domain controller integration for a variety of applications is something OEMs and tier 1 firms are eager to do. Real-time communication between numerous ECUs is crucial for maintaining a vehicle's overall safety. Additionally, if technology in automobiles like autonomous braking and remote starting were in the hands of distant enemies, they would have an effect on various scales. ECUs are capable of skid detection, anti-lock braking, and crash prediction. ECUs connect with one another using protocols such as Ethernet, LIN, MOST, CAN, FlexRay and Ethernet. OEMs and suppliers of cyber security solutions for the automotive industry are actively developing security mechanisms and are in the early stages of generating electronic content.
Asia Pacific Market Held The Largest Market Share In 2021
The greatest market share in 2021 was held by the Asia Pacific, followed by North America and Europe. The major drivers propelling the automotive cyber security market in the Asia Pacific are the increased awareness of both active and passive security measures among consumers and the growing sales of medium and luxurious automobiles. In terms of value, China is anticipated to have the most influence on the Asia Pacific V2X cyber security market. The high sales of the Mercedes-Benz E-Class, which is fitted with V2X, particularly V2C and V2I, can also be ascribed to China's significant market share. Additionally, as more electric vehicles are used, there will be greater demand for V2X technologies like V2P and V2G, which are well suited for electric vehicles. Moreover, in the coming years, the market for automotive control units will benefit from rising standards for passive vehicle safety and vehicle exhaust emissions. Opportunities for players in the automotive cyber security ecosystem are anticipated to result from this. The Asia Pacific would dominate the global Automotive Cyber Security Market over the forecast period as a result of all the aforementioned factors.
Due to low labor costs, simplicity of doing business, and readily available raw materials, some OEMs have relocated their vehicle production facilities to developing nations. There are production centers for a number of well-known semiconductor firms in the Asia Pacific region. They are able to keep up an efficient supply chain for the manufacturers owing to this. Automotive cyber security is predicted to become more popular as the connected vehicle market expands in the Asia Pacific area. The need for cyber security in these vehicles will grow as there are more connected vehicles on the road.
Please Visit the Press Release: https://www.blueweaveconsulting.com/press-release/global-automotive-cyber-security-market-to-grow-at-a-cagr-of-19-9-until-2028
Impact of COVID-19 on Global Automotive Cyber Security Market
In order to stop the COVID-19 pandemic, governments around the world were obliged to impose stringent lockdowns and mandate social seclusion. As a result, there was a sharp decline in the market for new cars. Additionally, the raw material supply was reduced, there was a slowdown in manufacturing, and supply systems around the world were disrupted. The adoption of cutting-edge cyber security systems has been hampered by the losses experienced by the car industry. However, the usage of automotive cyber security solutions is anticipated to rise with time due to increased demand for connected automobiles and the continuous immunization campaign that is taking place across the globe.
Competitive Landscape
The major players operating in the global automotive cyber security market are Argus Cyber Security Ltd., Arilou Technologies, Vector Informatik GmbH, Guardknox, NXP Semiconductors N.V., Karamba Security, HARMAN International, Robert Bosch GmbH, Symantec Corporation, Denso Corporation, SafeRide Technologies, Honeywell International Inc., SafeRide Technologies, Aptiv PLC, Green Hills Software, Continental AG, Upstream Security Ltd., and other Prominent Players. These businesses provide a broad range of cyber security products for both conventional and electric vehicles, and they operate secure distribution channels on a global scale. These businesses have used partnerships, the development of new products, acquisitions, and other tactics to maintain their market position.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Automotive Cyber Security market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Automotive Cyber Security market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Recent Developments
- In November 2021, In order to provide improved driving experiences, convenience, and services like over-the-air upgrades across its global fleet of vehicles, including the 2021 Ford F-150 truck, Mustang Mach-E, and Bronco SUVs, NXP Semiconductors cooperated with Ford Motor Company.
- In August 2021, Researchers at the US Army Research Laboratory developed a method called 'DESOLATOR' in cooperation with specialists from Virginia Tech, the University of Queensland, and the Gwangju Institute of Science and Technology to help optimize a well-known cyber security tactic known as the moving target defense.
Scope of the Report
| Attributes | Details |
| Years Considered | Historical data – 2018–2021 |
| Base Year – 2021 | |
| Estimated Year – 2022 | |
| Forecast – 2022 – 2028 | |
| Facts Covered | Revenue in USD Billion |
| Market Coverage | United States, Canada, Germany, Italy, UK, France, Spain, Netherlands, Belgium, China, India, Japan, South Korea, Australia, New Zealand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Qatar, Kuwait, Iran, South Africa, Egypt, Morocco |
| Product Service/Segmentation | By Form, By Security, By Application, By Vehicle Type, By Region |
| Key Players | Argus Cyber Security Ltd., Arilou Technologies, Vector Informatik GmbH, Guardknox, NXP Semiconductors N.V., Karamba Security, HARMAN International, Robert Bosch GmbH, Symantec Corporation, Denso Corporation, SafeRide Technologies, Honeywell International Inc., SafeRide Technologies, Aptiv PLC, Green Hills Software, Continental AG, Upstream Security Ltd. and other Prominent Players |
By Form
- In-Vehicle
- External Cloud Services
- Others
By Security
- End Point
- Application
- Wireless Network
By Application
- Infotainment
- ADS & Safety System
- Telematics
- Body Electronics
- Others
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Electrical Vehicle
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Please Find Below Some Related & New Topics:
- Automotive Diagnostic Scan Tools Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018-2028
- United States Third Party Logistics Market- Size, Share, Trend Analysis and Forecast Report, 2018-2028
- United States Construction Equipment Market- Size, Share, Trend Analysis and Forecast Report, 2018-2028
- Canada Tire Market- Size, Share, Trend Analysis and Forecast Report, 2018-2028
- Europe Autonomous Cars Market- Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018-2028
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Contact Us:
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
info@blueweaveconsulting.com
https://www.blueweaveconsulting.com/
https://www.linkedin.com/company/blueweaveconsulting/
