Automotive Cyber Security Market Secures Growth of USD 32 Million By 2023 At 9% of CAGR

“Automotive Cyber Security Market”
Market Research Future published a half-cooked research report on “Global Automotive Cyber Security Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Automotive Cyber Security Market Overview

Automotive Cyber Security is a combined method of defense to detect, protect, correct which recognizes and avoid threats. The new generation automotive cyber security cars is expected to include hardware based protection in and around the engine control unit, software implemented in vehicle to defense them, network monitoring system and enforcement inside and outside the vehicle, cloud security services, and correct data privacy and privacy for protection. 


The Automotive Cyber Security Market can be segmented on the basis of security type. The security type includes network security, endpoint security, application security and wireless security. The complexity in cyber security has reduced due to implementation of wireless networks. Wireless devices present in cars helps to reduce risk related to tracking of location through explicit identifiers in protocols or identifiable patterns in waveforms.


According to a recent study report published by the Market Research Future, Globally, the market for Automotive Cyber Security has increased its market growth in recent years and is expected to grow at a rapid pace during the forecast period. The global market of Automotive Cyber Security is forecasted to witness a thriving growth of USD ~32 Million by 2023, surpassing its previous growth records in terms of value with a striking 9% CAGR during the anticipated period (2017 – 2023). 


The market for automotive cyber security is expected to grow in the recent future due to increase in the adoption of telematics services in the vehicles. Also, due to increasing threats of cyber-attacks in the automotive and transportation systems the need for automotive cyber security is increasing. Within the forthcoming years the demand for connected and autonomous vehicles is projected to grow, also number of companies are evolving in to rigorous research in the field of connected vehicles and autonomous vehicles. 


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Automotive Cyber Security Market Key Players

Key players operating in the market of Automotive Cyber Security are focusing upon the research and development of new product in order to maintain the competitive advantage during the forecast period.  In order to meet the increasing demand of cyber security systems, companies all over the world are looking to expand the product portfolio and increase the sales strategies. The companies are also focusing on different strategies in order to maintain the market share in the global automotive cyber security market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion.


Vendors are offering solutions that will improve security to wireless interfaces within a vehicle, like telematics control units (TCU’s), and are also designing solutions that isolate safety critical systems from non-critical systems through the use of automotive network firewalls.  Longer term, integral electrical architectures within vehicles will be designed from the ground up with cybersecurity in mind. These future systems will likely have the capability to isolate critical safety systems – such as propulsion, braking and steering – from security systems that may handle personal or financial data. These solutions will include auto-grade Ethernet and domain isolation.

Profiled in MRFR Analysis some of the prominent players in the automotive cyber security market are – Argus Cyber Security (Israel), Harman International Industries, Inc. (U.S.), Karamba Security (Israel), Intel Corporation (U.S.), Cisco Systems Inc. (U.S.), NNG Software Developing And Commercial Llc. (Hungary), Intel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), Escrypt Embedded Systems (Germany), Secunet AG (Germany) among others.


 Automotive Cyber Security Global Market Segments

The Automotive Cyber Security Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation By Types: Comprises Network Security, Endpoint Security, Cloud Security, Endpoint Security, Wireless Security, Application Security, and others.

Segmentation By Vehicle Type: Comprises Passenger Cars, Commercial Vehicles. 

Segmentation By Application: Comprises On Board Diagnostic (OBD), Infotainment, Telematics, Communication Channels, Powertrain Safety Systems and others. 

Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.


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Automotive Cyber Security Market Synopsis

The cloud security has created revolution in the automotive industry. Cloud security denotes a broad set of policies, technologies, and controls deployment to protect data, applications and associated infrastructure of cloud computing. Cloud security services detect and spot threats before they reach the vehicle. Also, it sends the information through broadcast media to the vehicle and intelligence in real time.


Automotive Cyber Security market is growing with the connected car growth. Vehicles are now more susceptible to cyberattacks through the many wireless and wired connections. Cybersecurity will be one of the toughest challenges that the auto industry will face in the next decade or two. Hackers are getting savvier in perpetrating cyberattacks – more easily and cost effectively– on connected vehicles. OEMs and suppliers are taking these threats seriously, with increased interest in developing and implementing cybersecurity solutions to address vulnerabilities and system design changes needed to accommodate them.


The Automotive Cyber Security Market is expected to grow at approximately USD ~32 Million by 2023, at 9% of CAGR between 2017 and 2023.


Automotive Cyber Security Market Regional Analysis

The regional analysis of automotive cyber security market is studied for region such as Asia pacific, North America, Europe and Rest of the World. The North America is one of the leading regions in the automotive cyber security market due to numerous cross industry collaborations taking place between automotive original equipment manufacturers and mobile network operators (MNOs) are taking place for continuous internet connectivity inside a car to enhance the user experience of connected living, while driving. Asia-Pacific region is one of the prominent players in automotive cyber security market owing to large enterprises and SMEs in the region are increasingly adopting cloud-based cyber security solutions.


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