Automotive Cyber Security Market to Perceive Thriving Accruals of USD 32 Million By 2023 At 9% of CAGR
Market Research Future published a half-cooked research report on “Global Automotive Cyber Security Market Research Report – Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022
Automotive Cyber Security Market – Overview
The Global Automotive Cyber Security Market is growing at the rapid pace; mainly due to the augmented advent technological advancement that suffice the increased demand for in vehicle Cyber security systems. According to a recent study report published by the Market Research Future, The global market of Automotive Cyber Security is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023). The Automotive Cyber Security Market is expected to accrual approximately USD 32 Million by 2023, at 9% of CAGR between 2017 and 2023.
Over the next decade or two, Cyber security is going to be one of the paramount concerns the auto industry will face as more vehicles with telematics and embedded modems make connected cars an attractive target to cyber criminals and terrorists. Cyber Security, as a technology is gaining a huge traction in the automotive industry as connected cars grow. It is a crucial factor for self-driving and driverless cars. The global market of Automotive Cyber Security is majorly driven by the augmented adoption of telematics services in the vehicles. Additionally, increasing demand for Automotive Cyber Security systems attributed to the increasing threats of cyber-attacks in the automotive and transportation systems; is fostering the market growth of Cyber Security market. Moreover the heavy investments transpired in to the R&D sector in the field of connected vehicles and autonomous vehicles; is providing impetus to the market growth up to a large extent.
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Automotive Cyber Security Market – Competitive Analysis
Over the next decade or two, Cyber security is going to be one of the paramount concerns the auto industry will face as more vehicles with telematics and embedded modems make connected cars an attractive target to cyber criminals and terrorists. Vehicles are now more vulnerable to cyber-attacks through the many wireless and wired connections. Hackers are getting experts of committing cyber-attacks more easily and cost-effectively. OEMs and suppliers consider these threats as prime concern, with increased interest in developing and implementing cyber security solutions to address vulnerabilities and system design changes needed to accommodate them. There are many software approaches to cyber security in the car.
Vendors are offering solutions that will improve security to wireless interfaces in a vehicle, like telematics control units (TCU’s), and are also designing solutions that isolate safety-critical systems from non-critical systems through the use of automotive network firewalls. These future systems will likely have the capability to isolate critical safety systems such as propulsion, braking and steering from security systems that may handle personal or financial data. These solutions will include auto-grade Ethernet and domain isolation.
Automotive Cyber Security Market – Segmentation
The Automotive Cyber Security Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Security Type: Comprises Cloud Security, Endpoint Security, Network Security, Wireless Security, Application Security, and other.
Segmentation By Vehicle Type: Comprises Passenger Cars, Commercial Vehicles and other.
Segmentation By Application: Comprises Communication Channels, Safety Systems, Telematics, On Board Diagnostic (OBD), Infotainment, Powertrain and other.
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Automotive Cyber Security Market – Regional Analysis
The regional analysis of automotive Cyber Security market is studied for region such as Asia pacific, North America, Europe and Rest of the World. The North America is one of the leading region in the automotive Cyber Security market due to numerous cross industry collaborations taking place between automotive original equipment manufacturers and mobile network operators (MNOs) are taking place for continuous internet connectivity inside a car to enhance the user experience of connected living, while driving. Asia-Pacific region is one of the prominent player in automotive Cyber Security market owing to a large enterprises and SMEs in the region are increasingly adopting cloud-based Cyber Security solutions.