Market Analysis and Insights of Automotive Cyber Security Market
The Automotive cyber security market is expected to reach USD 7.89 billion by 2028. This means that while the market is currently standing at the value of USD 1.75 billion, for the forecast period 2021-2028, the automotive cyber security market will exhibit a CAGR of 20.73%. The analysis of various factors responsible for the same and insights about the market are provided in this report.
With the growth in the number of vehicles daily and rapid expansion in the technology involved in the same, it has become very important to develop a good cybersecurity system. If attention is not paid to the same, one can hack into the system and can give birth to many fraudulent activities. An automotive cybersecurity system thus is an efficient and effective solution to deal with cyber threats by detecting the risk, rectifying it, and protecting the computer’s security system from any future threats.
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The growing adoption of advanced technologies in the automotive sector is the prime reason for the increase in demand for an effective and efficient security system. Rising cyber threats in the transportation and automobile sector will further boom up the demand. Rising intercity transportation and logistics services will further help the automotive cyber security market to grow and expand. Also, rise in demand of commercial and passenger vehicles built-in with advanced technology along with the rise in personal income will create more opportunities for the market.
However, high cost of installing the cyber security systems and high cost of new vehicles in which the system is already built in is the biggest growth restraint for the automotive cyber security market. Lack of technological advancement couples with lack of awareness in underdeveloped countries too may come in the way of the growing market.
This automotive cyber security market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive cyber security market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Global Automotive Cyber Security Market Scope and Market Size
Global Automotive cyber security market is segmented on the basis of security, form, application, vehicle type, offering and electric vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Global automotive cyber security market is segmented on the basis of security into endpoint, application and wireless.
- On the basis of form, global automotive cyber security market is segmented into in-vehicle and external cloud services.
- On the basis of application, global automotive cyber security market is segmented into ADAS & safety, body control & comfort, infotainment, telematics, powertrain systems, communication systems.
- Passenger vehicles, light commercial vehicles and heavy commercial vehicles are the segments of the global automotive cyber security market on the basis of vehicle type.
- On the basis of offering, the global automotive cyber security market is segmented into software and hardware.
- Global automotive cyber security market is segmented into battery electric vehicle (BEV), hybrid electric vehicle (HEV) and plug-in electric vehicle (PHEV) on the basis of type of electric vehicle.
Automotive Cyber Security Country Level Analysis
Automotive cyber security market is analysed and market size, volume information is provided by country, security, form, application, vehicle type, offering and electric vehicle type as referenced above.
The countries covered in the automotive cyber security market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America currently dominates the market. The emphasis and the steps taken by the government on achieving an efficient cyber security system have enabled the region to dominate the market. Plus, the ever-increasing demand for vehicles that are a result of convergence of automobile and ICT sector too have made it possible for the region to account for the largest share in the market. Asia-Pacific is set to witness the highest CAGR for the forecast period. Change in the lifestyle of the people and increase in the purchasing power parity coupled with the demand of vehicles equipped with advanced technology will help this region to achieve this feat. Moreover, the region is turning out to be the automobile manufacturing hub. This in turn would further increase the market growing rate.
The country section of the automotive cyber security market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Cyber Security Market Share Analysis
The automotive cyber security market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive cyber security market.
The major players covered in the automotive cyber security market report are
- Continental AG
- Bosch Limited
- HARMAN International
- DENSO CORPORATION
- Karamba Security
- SafeRide Technologies
- ARILOU Automotive Cyber Security
- part of NNG Group
- Infineon Technologies AG
- Argus Cyber Security Ltd.
- Intel Corporation
- Lear Corporation
- SBD Automotive Ltd
- Honeywell International Inc.
- Vector Informatik GmbH
- NXP Semiconductors.
among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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