The new report by Expert Market Research titled, ‘Global Automotive Cyber Security Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global automotive cyber security market, assessing the market based on its segments like security, application, form, vehicle, electric vehicle and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): USD 1.6 Billion
- Forecast CAGR (2022-2027): 23.1%
The automotive industry is witnessing new revolutions in terms of connected vehicles. The rise of connectivity in vehicles provides growth opportunities for various business solutions and demands constant innovations to meet the changing market landscape. Increasing vehicle connectivity will also increase the chance of cyber-attacks and thus the need for cyber security solutions. Furthermore, the growing complexity of vehicle functions is augmenting the need for information security in vehicles. In addition to this, the rising deployment of electric vehicles all across the globe will provide a plethora of growth opportunities to market players in the automotive cyber security market.
Industry Definition and Major Segments
Automotive cyber security refers to the protection of automotive communication networks, control algorithms, software, electronic systems, and data from malicious attacks, damage, unauthorized access, or manipulation. The use of cyber security solutions ensures a high degree of security.
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Based on security, the market has been divided into:
- Endpoint Security
- Application Security
- Wireless Network Security
The market has also been bifurcated based on form:
- External Cloud Service
Automotive Cyber Security Market has also been segregated as:
- Passenger Car
- Commercial Vehicle
Based on application, the market has been divided into:
- Telematics System
- Infotainment System
- Powertrain System
- Body Control & Comfort Control
- Communication System
- ADAS & Safety System
EMR further segments the market as:
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
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Based on region, the market has been divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Since the past few years, there has been an enormous rise in automotive cyber incidents. The number of automotive cyber incidents witnessed a YoY of around 99% in 2019. Such a massive increase in cyber-attacks is creating a need for cyber security solutions in the automotive industry. Moreover, favorable government initiatives, such as the ZEV mandate and CO2 reduction policies will increase the demand for electric vehicles on the road and, ultimately the demand for automotive cyber security solutions. Also, the launch of self-driving cars in the coming years will create more need for cybersecurity tools.
Key Market Players
The major players in the market are Harman International Industries, Inc, Continental AG, Robert Bosch GmbH, Denso Corporation, Symantec Corporation, Honeywell International Inc. Trillium Secure Inc., and Vector Informatik GmbH. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Company Name: EMR Inc.
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