The upcoming report by Fairfield Market Research states that the global automotive cybersecurity market is expected to show exceptional growth between the years 2021 and 2027. The global market is expected to cater to the advancements in automobile technologies that are heading towards making a more connected world. As ecosystems and technologies merge to present a more integrated operation of day-to-day activities, the evolution will demand strong cybersecurity plans. All of these factors are expected to fuel the growth of the global automotive cybersecurity market in the coming years.
Get a PDF Sample Copy of Automotive Cybersecurity Market:
https://www.fairfieldmarketresearch.com/report/automotive-cybersecurity-market/request-sample
Evolution in Automaking Indicates Positive Outlook for Global Automotive Cybersecurity Market
Prominent automakers such as Daimler AG have collaborated with Uber for developing self-driving vehicle technology. Meanwhile, Tesla Motors has been consistently working on bringing in self-driving vehicles. As these technologies pave the way for futuristic automobiles, they are likely to show a higher demand for safety features as the nature of cyber-attacks gets complicated. As a result, automakers are making considerable investments in developing top-notch cyber-security software, giving the market new products to experiment with.
Uptake of ADAS to Bode Well for Automotive Cybersecurity in Vehicles
Advanced driver assist systems (ADAS) is anticipated to lead the way in the global automotive cybersecurity market. These systems are already being deployed in premium and luxury vehicles. The emergence of connected vehicles, electrification, autonomous driving, and shared mobility have collectively created a potential for cyber-attacks, thereby fuelling the demand for new-age automotive cybersecurity solutions. In the coming years, these solutions will be crucial in safeguarding hacking, information theft, cyber-attacks, and more.
The introduction of electric vehicles in the premium segment is also expected to come with ADAS functionalities. These systems are in continuous interaction with the electronic control units and chipsets, either on the cloud or locally. This nature of the systems is expected to make the function of automotive cybersecurity measures critical in ensuring long-term passenger and driver safety.
North America and Asia Pacific to Exhibit Phenomenal Growth Opportunities
The global automotive cybersecurity market is being led by North America due to supportive government regulations that are being designed to combat any kind of cyber security threat that may cause disastrous data leaks. The introduction of connected vehicle eco-systems in new-age vehicles as ICT and the automotive industry join hands to create seamless operations for end users is likely to fuel the growth of the automotive cybersecurity market in the region.
Increasing purchasing power that has encouraged vehicle production has also created a demand for improved vehicle safety norms. As the number of passenger vehicles rises in the market, analysts anticipate it will directly affect the automotive cybersecurity market. This trend is especially intensifying as Asia Pacific is witnessing an influx of vehicles. Production and sales of vehicles in the developing economies of China and India are expected to create an excellent opportunity for the automotive cybersecurity market in the region during the forecast period.
For More Information of Automotive Cybersecurity Market Visit:
https://www.fairfieldmarketresearch.com/report/automotive-cybersecurity-market
Some of the key players operating in the automotive cybersecurity market are Karamba Security, Harman, Continental, Vector, Escrypt, NXP, Argus Cyber Security Ltd., Cisco Systems, Inc., and BT Security. The competition in the market is expected to intensify as new entrants make their way.
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact:
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com
Email: [email protected]
Follow Us: LinkedIn
According to the new market research report "Automotive Cybersecurity Market By Offering (Software & Hardware), Application Type, Form Type (In-Vehicle & External Cloud Services), Security Type, Vehicle Type (Passenger Vehicles, LCV & HCV), EV Application Type, And Region – Global Forecast to 2025" Published by MarketsandMarkets™, The global Automotive Cybersecurity Market size is projected to grow from USD 1.9 billion in 2020 to USD 4.0 billion by 2025, at a CAGR of 16.5%.Increased use of electronics per vehicle and a growing number of connected cars, and reinforcement of mandates by regulatory bodies for vehicle data protection are key factors that will drive the market for Automotive Cybersecurity Market.
OEMs and tier 1 players are either using cash reserves or acquiring funds to continue operations during the crisis.
OEMs can focus on providing better services and gain customer loyalty by meeting customers’ requirements.
Passenger vehicles will be capable of exchanging data and alerting drivers of potential dangers.
These vehicles will also be able to interact with sensors on road signs on stoplights, bus stops, and even the ones embedded in the roads to get traffic updates and rerouting alerts.Increasing installation of telematics devices and push by government authorities to adopt telematics is driving the Telematics segment in the Automotive Cybersecurity MarketThe market for Telematics is primarily driven by multiple factors such as an increase in the number of accidents, rising vehicle thefts, security issues while travelling, and the demand for navigation services.
This eventually leads to a reduction in vehicular thefts.
