As per the findings of a new market research report by Persistence Market Research, the worldwide automotive cyber security market reached a valuation of around US$ 5.4 Bn in 2020, and is anticipated to exhibit a CAGR of close to 8% over the next ten years. Usage of telematics services such as information, navigation, safety, security, diagnostics, and entertainment has been increasing in recent years, and is projected to grow at a significant rate over the coming years. Along with this, connected cars and autonomous vehicles will be available globally in the next five to ten years.
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Telematics services and connected cars require the Internet for the functioning of some key applications and transferring of data. As such, they are vulnerable to cyber-threats. Automotive cyber security is a system or technology that prevents or protects the systems of a vehicle that are susceptible to any cyber-attack. As more and more vehicles are connected to the Internet, the automotive industry is working closely with Internet service providers, software companies, and others concerned players to provide better cyber security systems to end users.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Continental (Argus Cyber Security), Guardknox Cyber Technologies Ltd., Vector Informatik GmbH, Karamba Security, Synopsys, Upstream Security, Sectigo Limited, ESCRYPT, RunSafe Security, Inc., Trend Micro, Harman International, Trillium Secure Inc., STMicroelectronics, Infineon Technologies AG, NXP Semiconductors, Bosch Mobility Solutions, Microchip Technology, Aptiv, Irdeto and more.
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Key Takeaways from Study
- OEMs and cyber security tech players are continuously collaborating with each other to develop advanced cyber security solutions to deal with highly sophisticated attacks.
- Among the application, ADAS & safety systems are expected to witness high growth, owing to wide adoption in autonomous driving vehicles across the globe.
- Among the regions, South Asia & Pacific is exhibiting a high growth rate, owing to expected rise in automobile production over the coming years
- Infotainment systems will continue being the primary contributor to the growth of the automotive cyber security market on a global scale.
- The market in the U.S. is projected to expand at a CAGR close to 7%, while that in the U.K. at nearly 8% through 2031.
- Demand for automotive cyber security solutions in India is expected to surge at a CAGR of more than 13% over the next ten years.
“Rise in consumer demand for luxurious features and growing demand for passenger electric vehicles (EVs) would propel growth of automotive cyber security solutions,” says a Persistence Market Research analyst.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Automotive Cyber Security Market Manufacturers
Automotive Cyber Security Market Distributors/Traders/Wholesalers
Automotive Cyber Security Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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