Automotive Cyber Security Market Provides In-Depth Analysis of the Industry, With Current Trends and Future Estimations to Elucidate The Investment Pockets | (2020-2027)
The global automotive cyber security market is segmented by security into network security, endpoint security, application security and wireless & cloud security; by solution into software based, hardware based and professional service; by application into infotainment, telematics, OBD, safety, powertrain, communication and others; by vehicle into passenger vehicles and commercial vehicles; Among these segments, passenger car segment is expected to dominate the overall automotive cyber security market and is anticipated to capture a noteworthy CAGR.
Automotive cyber security protects the system of the vehicle which is liable to any cyber-attack. In current scenario, many vehicles are connected to the IOT therefore automotive industries are working with the internet service providers to provide better cyber security systems to the consumers. The automotive cyber security market, in terms of value, is expected to grow rapidly during the forecasted period at a good CAGR as now days most of the cars are connected from OEMs and rising security concerns among the consumers.
In terms of regional platform, North America is projected to register the largest market share and is anticipated to grow with a highest CAGR during the forecast period due to the escalation in demand for vehicles owing to the convergence of the information and communication technologies. Asia Pacific is anticipated to be the fastest growing market for automotive cyber security in terms of revenue due to increase in disposable income among population and increasing industrialization anticipated to drive the growth of automotive cyber security market in this region over the forecasted period.
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Rising Demand for Software Based Solutions
Connected vehicles are entirely dependent on the connected software for all their operation. Key players are working on software technology such as introduction of a new car wall system for automotive cyber security. The software will immediately detect and block cyber-attacks that exploit software bugs. These benefits of software based solutions are expected to drive the market of automotive cyber security market globally over the forecasted period. Software based solutions are also highly efficient to safeguard internal vehicle systems from attacks and supports data integrity while providing data privacy which also expected to contribute in the growth of automotive cyber security market globally.
Growing Number of Connected Cars and Concerns over Cyber Security
Now days mostly all the cars are connected to IOT. Some of the security researchers demonstrated that it was possible forhackers to control a vehicle from a remote place which is connected to the mobile data network. This will make it possible for the hacker to disable the brakes of the vehicle or cause any other harm to the vehicle and the passenger. To overcome these instances a demand for hacker proof automobiles is expected to grow which further result in demand for automotive cyber security market globally over the forecasted period.
The report titled “Automotive Cyber Security Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global automotive cyber security market in terms of market segmentation by security, by solution, by application, by vehicle and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive cyber security market which includes company profiling of Infineon Technologies AG, Trillium Inc., Harman International Industries, Inc., Delphi Automotive PLC, Lear Corporation, SBD Automotive & NCC Group, Arilou Technologies, ESCRYPT GmbH, Argus Cyber Security, Karamba Security and Intel Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive cyber security market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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