Dublin, Sept. 07, 2022 (GLOBE NEWSWIRE) -- The "Global Automotive Cybersecurity Market by Form (In-Vehicle, External Cloud Services), Offering (Hardware & Software), Security, Application Type, Vehicle Type, Propulsion, Vehicle Autonomy, Approach, EV Application, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global automotive cybersecurity market is projected to grow from USD 2 billion in 2021 to USD 5.3 billion by 2026, at a CAGR of 21.3%. Increasing demand for connected vehicles and safety features has increased the electronic content per vehicle.
This raised the vulnerability of a vehicle against a cyber-attack, which resulted in recall of vehicles by the reputed automakers in the recent past. Thereby, the demand for automotive cybersecurity solutions are growing at a rapid pace all over the world. Moreover, launch UNECE WP.29 mandate and "Auto Data" regulation in China are also expected to bolster the growth of automotive cybersecurity market in the coming years globally.
The automotive cybersecurity market, however, is expected to witness a significant boost in 2022 owing to the increase in vehicle production in different countries, launch of UNECE WP.29 regulation as well as various government regulations that have compelled automotive OEMs to install additional safety systems in vehicles for better safety.
Wireless network security are estimated to grow at a higher CAGR during the forecast period
The wireless network security segment is expected to be the fastest-growing security type segment of the automotive cybersecurity market. This segment is expected to witness significant growth in Asia Pacific, followed by Europe and North America. Transportation authorities in these regions are focusing on improving infrastructure. Startups are focusing on providing wireless network services in order to cater to the growing connectivity features in automotive.
Overall, the incorporation of wireless technologies in vehicles by respective automotive manufacturers, increasing focus towards connected vehicle technology, and rising security concerns to prevent remote access to vehicle electronics are key factors anticipated to augment projected revenues for the wireless network security solution during the forecast period.
ADAS & safety system are expected to dominate the automotive cybersecurity market during the forecast period
The ADAS & safety segment is expected to dominate the automotive cybersecurity market during the forecast period. ADAS comprises ECUs/DCUs utilized to control airbags, collision warning, and tire pressure systems. The market growth in this segment is largely driven by the growing incorporation of ECUs/DCUs that control ADAS and related functionality.
Regulatory bodies in the US are also encouraging OEMs to make forward-collision warning systems and autonomous emergency braking systems standard features in all their new vehicles by the end of 2022. The government of India also plans to make ADAS features such as Electronic Stability Control (ESC) and Autonomous Emergency Braking (AEB) mandatory for all passenger cars by 2022-23. Therefore, government mandates, along with the increasing awareness of vehicle safety, are expected to fuel the demand for ADAS & safety systems. Thereby, the demand for automotive cybersecurity solutions are also expected to grow at a rapid pace during the forecast period globally.
Market Dynamics
Drivers
- Increased Use of Electronics Per Vehicle and Growing Number of Connected Cars
- Rising Sales of Electric Vehicles: Electric Vehicles are More Vulnerable to Cyber Attacks
- Reinforcement of Mandates by Regulatory Bodies for Vehicle Data Protection
- Significantly Growing Global Automotive V2X Market
Restraints
- High Costs of Automotive Cybersecurity Solutions
- Complex Ecosystem with Multiple Stakeholders
- Growing Complexity in Vehicle Electronic System
Opportunities
- Growing Cloud-based Applications in Automotive Industry
- Exceptional Technological Development in Autonomous Vehicle Space
- Introduction of Electric Vehicle Wireless Battery Management System
Challenges
- Discrepancies Related to Pricing Strategies Among Stakeholders
- Time Lag in Delivery of Cybersecurity Updates
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Technology Analysis
7 Automotive Cybersecurity Market, by Application Type
8 Automotive Cybersecurity Market, by Offering
9 Automotive Cybersecurity Market, by Form Type
10 Automotive Cybersecurity Market, by Security Type
11 Automotive Cybersecurity Market, by Approach
12 Automotive Cybersecurity Market, by Vehicle Type
13 Automotive Cybersecurity Market, by Vehicle Autonomy
14 Automotive Cybersecurity Market, by Propulsion Type
15 Automotive Cybersecurity Market, by Electric Vehicle Application Type
16 Automotive Cybersecurity Market, by Region
17 Competitive Landscape
18 Company Profiles
19 Analyst's Recommendations
20 Appendix
Companies Mentioned
- Airbiquity Inc.
- Aptiv plc
- Argus Cyber Security
- Arilou Automotive Cybersecurity
- ATOS SE
- Autocrypt Co. Ltd.
- Autotalks
- AVL Software and Functions GmbH
- Blackberry Certicom
- Broadcom Inc.
- C2A-Sec Ltd.
- Combitech AB
- Continental AG
- Cybellum Ltd.
- Cymotive Technologies
- DENSO Corporation
- Ericsson
- Garrett Motion Inc.
- Green Hills Software
- GuardKnox Cyber Technologies Ltd.
- Harman International
- ID Quantique
- Infineon Technologies
- Irdeto
- Karamba Security
- Lear Corporation
- NXP Semiconductors
- Real-Time Innovations
- Renesas Electronics Corporation
- Robert Bosch GmbH
- SafeRide Technologies
- Savari
- STMicroelectronics N.V.
- Thales Group
- Trillium Secure
- Upstream Security Ltd.
- Vector Informatik GmbH
- WM Motor
For more information about this report visit https://www.researchandmarkets.com/r/59ejpf
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