The global Automotive Cybersecurity Market size is projected to grow from $2.0 billion in 2021 to $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 the recall of vehicles by reputed automakers in the recent past. Thereby, the demand for automotive cybersecurity solutions is growing at a rapid pace all over the world. Moreover, the launch UNECE WP.29 mandate and “Auto Data” regulation in China are also expected to bolster the growth of the automotive cybersecurity market in the coming years globally.
Opportunity: Introduction of electric vehicle wireless battery management system
The introduction of wireless battery management systems (wBMS) has unlocked a huge ROI opportunity for OEMs globally. wBMS saves up to 90% of the wiring and up to 15% of the volume in battery packs for next-generation EVs. Apart from this, the lifespan of the battery also increases in this new system. Hence, maintaining a tight security protocol is mandatory in the wireless battery pack management system. In 2020, Analog Devices, Inc. launched its wBMS. In the same year, General Motors collaborated with Analog Devices, Inc. (Analog) to use Analog’s wBMS in its Ultium battery platform. This new wBMS includes all integrated circuits, hardware, and software for power, battery management, RF communication, and system functions in a single system-level product that supports ASIL-D safety and module-level security building upon the company’s proven industry-leading BMS battery cell measurement technology. Therefore, with the growing popularity of wBMS, the demand for cybersecurity solutions is expected to grow in the automotive sector globally.
The Automotive Cybersecurity Market is dominated by global players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Harman International (US), DENSO Corporation (Japan), Aptiv PLC (Ireland), Karamba Security (Israel), SafeRide Technologies (Israel), Arilou Technologies (Israel), GuardKnox Cyber Technologies Ltd. (Israel), Upstream Security Ltd. (Israel), and Green Hills Software.
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By offering, the Software segment is expected to hold the largest in the global automotive cybersecurity market
In terms of market share in the global automotive cybersecurity industry, the hardware to software ratio per vehicle is around 20:80. This is expected to change over the years with variations in hardware prices. Cybersecurity software inside the vehicle requires the implementation of a number of security functionalities such as secure protocols, identity and access management, intrusion detection, and abstraction layers for crypto functions. These functionalities are then used by the functional ECUs to secure communications and avoid the creation of backdoors. Therefore, the software segment is expected to hold the largest share in the automotive cybersecurity market during the forecast period globally.
ADAS & safety systems 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. Government mandates and increasing awareness about vehicle safety are also expected to fuel the demand for ADAS & safety systems across the globe. Europe and North America are estimated to witness significant demand for ADAS and safety systems. Regulatory bodies of the EU have mandated forward-collision warning systems and autonomous emergency braking systems in all new vehicles by 2022. 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 is also expected to grow at a rapid pace during the forecast period globally.
Endpoint security is expected to be the fastest-growing security type in the global automotive cybersecurity market.
The endpoint security segment is expected to witness the fastest growth in Europe and the Asia Pacific during the forecast period. This growth can be attributed to the increased use of mirror link apps in these regions. Increasing safety and security concerns in these regions are also likely to propel the demand for endpoint security solutions. Presently, new vehicles contain approximately 100 million lines of code and are deployed with complex software by automobile manufacturers. To maintain the safety as well as security of a vehicle’s entire code base, OEMs are opting for endpoint security solutions. Moreover, the trend of a mobile workforce, BYOD, social media, and cloud synchronizing tools is expected to influence the expenditure on endpoint security solutions.
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1. In November 2021, NXP Semiconductors collaborated with Ford Motor Company to deliver enhanced driver experiences, convenience, and services like over-the-air updates across its global fleet of vehicles, including the 2021 Ford F-150 pickup, Mustang Mach-E, and Bronco SUVs.
2. In October 2021, Renesas Electronic Corporation acquired Celeno Communications (Israel) to develop more advanced Wi-Fi connectivity capabilities to deliver end-to-end connectivity solutions for clients and access points.
3. In September 2021, Harman International collaborated with Renault (France) to provide the Harman Kardon sound system to the Renault Mégane E-TECH 100% electric that is expected to be launched in 2022.
4. In July 2021, ETAS Korea, a subsidiary of Robert Bosch GmbH, signed a partnership agreement with Suresoft Tech Co., Ltd. (South Korea) to offer consulting services and solutions related to cybersecurity testing of in-vehicle systems to Korean automotive manufacturers and suppliers.
5. In July 2021, NXP Semiconductors collaborated with Moter Technologies, Inc. (US) to combine its new S32G2 high-performance automotive processors with MOTER’s insurance data science expertise and software. This is expected to enable vehicle data monetization with new and improved automotive insurance services.
6. In May 2021, ESCRYPT, a subsidiary of ETAS Inc, which is a subsidiary of Robert Bosch GmbH, partnered with Alyne GmbH and KPMG to offer joint expertise in developing the Product Security Organisation Framework (PROOF).In April 2021, Elektrobit collaborated with SUSE (Germany) to supply its EB combos Linux OS to carmakers and Tier 1 suppliers in China.
7. In May 2021, Harman International introduced an end-to-end 5G Testing Lab for 5G CP devices in India. It is expected to equip technology providers like device manufacturers, chipmakers, Telcos, etc., to execute a variety of protocols and functional tests. This also helps validate and examine applications in a real 5G radio environment.
8. In December 2020, Elektrobit selected ArcherMind Technology (Nanjing) Co., Ltd. as a value-added distributor in China for reselling their software products as well as providing engineering and customer support services to their customers.
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