Westford, USA, Jan. 16, 2024 (GLOBE NEWSWIRE) -- The global Automotive Cyber Security market size is expected to reach USD 11.17 billion by 2030 and exhibit a CAGR of 21.2% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing connectivity of vehicles and the growth of IoT in automobiles, rising concerns about cyber threats and data privacy, stringent regulations and standards for automotive cybersecurity, the integration of advanced technologies like autonomous driving and connected infotainment systems, the expansion of electric and hybrid vehicle fleets, and the recognition of the critical need to protect vehicles from cyberattacks to ensure passenger safety and vehicle functionality is fueling the market's growth.
According to SkyQuest's latest global research of the Automotive Cyber Security market, the growing adoption of artificial intelligence (AI) and machine learning for threat detection and response, the emergence of over-the-air (OTA) cybersecurity updates for vehicles, the rise of connected and autonomous vehicles that require robust cybersecurity solutions, increased collaboration between automotive manufacturers and cybersecurity firms, the development of cybersecurity standards and best practices, and the incorporation of blockchain technology for securing connected vehicle data and transactions are the trends that aid in the market's growth.
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Browse in-depth TOC on "Automotive Cyber Security Market"
- Pages - 157
- Tables - 176
- Figures -79
Automotive cybersecurity is the practice of protecting vehicles from cyberattacks. As vehicles become more connected and autonomous, they become more vulnerable to cyberattacks. These attacks could allow attackers to take control of vehicles, steal data, or cause other damage.
Prominent Players in Automotive Cyber Security Market
- Continental AG
- Robert Bosch GmbH
- Aptiv PLC
- Harman International
- Denso Corporation
- GuardKnox Cyber-Technologies Ltd.
- Argus Cyber Security Ltd.
- Arilou Technologies
- NXP Semiconductors N.V.
- Vector Informatik GmbH
- ESCRYPT
- BlackBerry
- Cybellum
- Upstream Security
- WISeKey
- Telefonica
- Tencent Keen Security Labs
- HoneyWell International
- Intel Corporation
- Capgemini
- Symantec Corporation
- Cisco Systems
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 2.91 Billion |
| 2030 Value Projection | 11.17 Billion |
| CAGR | 21.2% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
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Network Security Demand to Grow Substantially in the Forecast Period
Network Security dominate the global online market as they include measures to protect communication networks within vehicles, is crucial in preventing unauthorized access and data breaches. With the increasing connectivity of vehicles, the demand for robust network security solutions has been on the rise.
Infotainment Systems are the Leading Application Segment
In terms of application, infotainment systems are the leading segment as they offer features like connectivity to smartphones, navigation, streaming services, and more. These systems handle sensitive user data and must be protected from cyber threats to ensure data privacy and system reliability. The growing demand for advanced infotainment features has driven the need for robust cybersecurity solutions.
North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The United States is home to many technology companies and automotive manufacturers actively working on connected and autonomous vehicles, driving the demand for automotive cybersecurity solutions.
A recent report thoroughly analyzes the major players operating within the Automotive Cyber Security market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Automotive Cyber Security.
Key Developments in Automotive Cyber Security Market
- In February 2023, Nova Metrix LLC acquired Vallen Systeme, a German manufacturer of monitoring systems. This acquisition added Vallen Systeme's expertise in acoustic emission and Automotive Cyber Security technologies to Nova Metrix's product offerings.
- In March 2023, Hottinger Baldwin Messtechnik GmbH acquired Digitexx Data Systems, Inc., a leading provider of data acquisition and processing systems for SHM applications. This acquisition strengthened Hottinger Baldwin Messtechnik GmbH's position in the SHM market and expanded its portfolio of data acquisition and processing solutions.
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Key Questions Answered in Automotive Cyber Security Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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