Automotive Cyber Security Market Overview
By 2028, the Automotive Cyber Security Market is estimated to be worth USD 8.94 billion, recording a CAGR of 18.56% during the predicted period (2022 - 2030). The market was valued at a rate of USD 2.16 billion in 2020. The choices, preferences and desires of drivers are rapidly changing. Consumers are now expecting personalized experiences, so the vehicle industry is adapting the technique to meet those demands. More software results from increased personalization and connectedness, which means more vulnerability.
Request Free Sample of Report @ https://www.marketresearchfuture.com/sample_request/2970
Connected vehicles can function similarly to smartphones and smart appliances. The sharing of internet and wireless network access with other vehicles and external equipment can send and receive data. New and advanced software is already providing greater features and capabilities to fulfill the needs and expectations of drivers. In such cases, automobile cybersecurity is serious, and it should be a part of the design process.
The factors that are estimated to drive the growth of the automotive cybersecurity market are an increase in the need for automotive cybersecurity, government initiatives for implementing connected car technology, and mandatory cybersecurity standards. However, the increase in the development of common podiums is leading to high risks, and the challenge is making the applications secure, which restrains the market growth. However, improving vehicle security using adaptive security and increasing the complexity of cars’ electronic systems are estimated to offer profitable growth opportunities for the market players.
The outbreak of covid-19 forced governments across the globe to impose strict lockdowns and made social distancing mandatory to stop the virus from spreading. This resulted in a drop of demand for new vehicles significantly. However, the automotive industry also had a slow production rate; there was a reduction in the supply of raw materials and breakage in the supply chains globally. The losses observed by the automotive sector have affected the adoption of innovative cybersecurity technologies. Now that the virus is in control across the globe, the automotive industry is estimated to come on track very soon. The adoption of automotive cybersecurity solutions, among the increasing demand for connected cars, is estimated to increase.
Read Report Overview: https://www.marketresearchfuture.com/reports/automotive-cyber-security-market-2970
Automotive Cyber Security Market Key Players
- Intel Corporation (U.S.)
- Escrypt Embedded Systems (Germany)
- Secunet AG (Germany)
- Cisco Systems Inc. (U.S.)
- Harman International Industries Inc. (U.S.)
- NNG Software Developing and Commercial LLC. (Hungary)
- Argus Cyber Security (Israel)
- Intel Corporation (U.S.)
- NXP Semiconductors N.V. (Netherlands)
- Karamba Security (Israel)
Automotive Cyber Security Market segmentation
By Security Type:
- Network Security
- Endpoint Security
- Application Security
- Wireless Security
- Cloud Security
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Application:
- Telematics
- On-Board Diagnostic (OBD)
- Infotainment
- Communication Channels
- Powertrain
- Safety Systems
- Others
Automotive Cyber Security Market Regional analysis
The regional analysis of the automotive cyber security market for the regions such as Asia Pacific, North America, Europe and the Rest of the World. North America dominates the market due to the number of cross-industry collaborations between original automotive equipment manufacturers and mobile network operators. They are taking place for continuous internet connectivity inside a car to improve the user's experience with connected living while driving. The Asia-Pacific region is one of the main players in the market owing to huge enterprises. SMEs in the region are rising in adopting cloud-based cyber security solutions.
Automotive Cyber Security Industrial news
In 2018, BMW raised its R&D spending on electric and autonomous vehicles to approximately US$ 8 billion.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact
Market Research Future
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America