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Automotive Cyber Security Market to Reach $5.77 billion by 2025

Gobal Automotive Cyber Security Market by 2025

Steady innovation and development in the field of automotive artificial intelligence, especially in developing economies, have boosted the automotive cyber security market in recent years.

The Global Automotive Cyber Security Market is estimated to be USD 1.34 billion in 2018 and is projected to reach USD 5.77 billion by 2025, growing at a CAGR of 23.16% during the forecast period.

The automotive industry is witnessing a new wave of technological revolution, which is boosting the idea of connected cars. Consumers are seeking in-car mobile connectivity to make their journey a rich experience. Therefore, automotive manufacturers and semiconductor vendors are spending heavily on research and development (R&D) to fulfill consumer demand. For automotive, connected devices require scalability for resource-constrained devices, feature-rich graphics, improved battery life, security for data storage and transmission, authentication, and architecture to support cloud integration. The Intelligent Transportation System (ITS) uses advanced technologies such as the Internet of Things (IoT) for better traffic management and smart transportation. The ITS concept is well-accepted and directed by the European Union (EU) compared to other regions. The regulatory bodies of the European region are making efforts to implement it effectively. The concept will be implemented under the Cooperative Intelligent Transport System (C-ITS) by 2019. The ENISA plans to improve network and information security in the European region. It follows practices for various automotive technologies including cybersecurity to achieve concrete standards for C-ITS.

The automotive cyber security market is dominated by a few globally established players such as Harman (US), Continental (Germany), NXP (Netherlands), Escrypt (Germany), Vector (Germany), Trillium Secure (US), GuardKnox Cyber Technologies(Israel), SafeRide Technologies (Israel) and Karamba Security (Israel).

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The automotive cybersecurity market for external cloud services form segment is projected to grow at the highest CAGR during the forecast period. The growth of automotive cybersecurity is driven by the increasing use of over-the-air (OTA) updates for vehicle software in developed as well as developing countries.

The automotive cybersecurity market for the in-vehicle segment is estimated to be the largest during the forecast period. The increasing number of ECUs in various applications inside the vehicle is driving the market for automotive cyber security. In-vehicle applications that operate on separate ECUs can be hacked by professional hackers. A lot of OEMs, as well as Tier 1 and 2 suppliers, are focusing on improving in-vehicle application security.

The application security segment is estimated to be the fastest-growing market for automotive cybersecurity, by security type. It is followed by wireless network security. The application security segment is estimated to experience significant growth due to the increasing sales of mid-size and luxury vehicles across the globe.

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The automotive cybersecurity market for endpoint security is estimated to be the largest. It is used in most of the vehicles equipped with devices such as Wi-Fi, smartphones, and ethernet that are connected to endpoint applications. Increasing the use of smartphone mirror link applications such as Android Auto and Apple Car Play is likely to drive the growth of this segment.

The Asia Pacific region is estimated to hold the largest share of the global automotive cybersecurity market in 2018. The increasing number of connected vehicles and growing awareness of green vehicles among people are expected to fuel the growth of the automotive cybersecurity market in the Asia Pacific region.

Target Audience

  • Automotive cyber security manufacturers
  • Automobile organizations/associations
  • Compliance regulatory authorities
  • Government agencies
  • Investors and Venture Capitalists (VCs)
  • Raw material suppliers for automotive cyber security
  • Traders, distributors, and suppliers of automotive cybersecurity

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