Visiongain has revealed a report entitled Automotive Cyber Security Market Report 2024-2034: Forecast by Form (In-vehicle, External Cloud Services), Security (Wireless Network Security, Endpoint Security, Application Security), and Application (ADAS and Safety Systems). A brand new report has been revealed. , physique management & consolation techniques, powertrain techniques, infotainment techniques, communication techniques, telematics techniques), automobile autonomy (non-autonomous, semi-autonomous, totally autonomous), and automobile propulsion sort (electrical, ICE automobiles)), by automobile sort (passenger vehicles, mild business automobiles (LCVs), heavy business automobiles (HCVs)), electrical automobile sorts (BEVs, HEVs, PHEVs), in addition to regional and key nationwide market evaluation, in addition to key corporations. and Analysis of COVID-19 Impact and Recovery Patterns.
The automotive cybersecurity market was valued at USD 2,991.6 million in 2024 and is projected to develop at a CAGR of 19.4% through the forecast interval 2024-2034.
Increasing shopper consciousness of automotive cybersecurity dangers is predicted to drive demand for cybersecurity
In the realm of automotive cybersecurity, a notable market alternative is rising from shopper consciousness of the cybersecurity dangers related to fashionable automobiles. As digitization and connectivity develop into extra prevalent in automotive techniques, shoppers have gotten conscious of the potential vulnerabilities posed by cyber threats and knowledge breaches.
Additionally, as shoppers develop into extra conscious of cybersecurity dangers, there’s a rising demand for automobiles geared up with strong cybersecurity options and know-how. This presents an excellent alternative for automakers and cybersecurity corporations to work collectively to co-create built-in options that prioritize safety with out sacrificing efficiency or consumer expertise.
Additionally, rising shopper consciousness of cybersecurity dangers is prompting regulators to introduce stringent measures and {industry} requirements aimed toward rising automobile safety. With governments mandating cybersecurity requirements and compliance necessities for automotive corporations, this regulatory momentum is creating an surroundings that helps cybersecurity corporations thrive.
Increasing consciousness of auto cybersecurity dangers has led to a surge in demand for aftermarket cybersecurity options and companies. Consumers are more and more on the lookout for methods to boost the safety of their current automobiles, rising the necessity for cybersecurity merchandise reminiscent of intrusion detection techniques, safe communication protocols, and software program updates.
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What important destructive influence has COVID-19 had on the automotive cybersecurity market?
The COVID-19 pandemic has had a major influence on the automotive cybersecurity market, creating each challenges and alternatives for {industry} gamers. The proliferation of distant work insurance policies and digital options has accelerated digital transformation within the automotive {industry}, rising its reliance on connectivity and digital applied sciences. Increased digitalization has made distant entry factors, in-vehicle infotainment techniques, and telematics platforms potential targets for cyberattacks, exposing automobiles to new cyber safety dangers.
As automakers and suppliers race to develop linked and self-driving vehicles, the necessity for strong cybersecurity measures has develop into extra obvious. Disruptions to international provide chains and manufacturing operations brought on by the pandemic have additional difficult cybersecurity efforts as corporations face useful resource constraints and delays in implementing cybersecurity options. In addition, the shift to distant working has created further challenges in securing distant entry to automobile techniques and guaranteeing the integrity of software program updates and patches.
However, the pandemic has additionally highlighted the significance of cybersecurity within the automotive {industry}, prompting elevated consciousness and funding in cybersecurity options. Automotive OEMs and suppliers are ramping up their efforts to strengthen cybersecurity measures, improve risk detection capabilities, and enhance incident response protocols. Additionally, regulatory our bodies and {industry} associations have emphasised the necessity for cybersecurity requirements and finest practices to scale back cyber dangers in linked vehicles.
What are the advantages of this report?
Visiongain’s 406-page report consists of 133 tables and 213 charts/graphs. Our new analysis is appropriate for individuals who require a business and in-depth evaluation of the Automotive Cyber Security market in addition to an in depth segmentation evaluation of the market. Our new analysis helps assess the general international and regional automotive cybersecurity market. Get monetary evaluation of your complete market and varied segments reminiscent of form, safety, utility, automobile propulsion sort, automobile autonomy, automobile sort, electrical automobile sort, and so on. to realize greater market share. We imagine there’s nice alternative on this quickly rising automotive cybersecurity market. Learn make the most of current and upcoming alternatives on this market to reap income advantages within the close to future. Additionally, this report helps you enhance your strategic decision-making, body your development methods, improve evaluation of different market gamers, and maximize your organization’s productiveness.
What are the present market drivers?
As electrical automobiles develop into extra common, the demand for cybersecurity will increase.
The speedy enhance within the adoption of electrical automobiles (EVs) has considerably elevated the demand for automotive cybersecurity options. EVs have superior software program, sensors, and communication techniques that make them inherently extra linked than conventional inner combustion engine automobiles. This elevated connectivity expands the potential assault floor and requires strong cybersecurity measures to guard towards cyber threats. Additionally, EVs rely closely on software-controlled techniques for crucial features reminiscent of battery administration and vehicle-to-grid communication. Vulnerabilities on this software program can pose important security and safety dangers, highlighting the significance of complete cybersecurity options.
Additionally, many EV producers leverage over-the-air (OTA) replace capabilities to remotely ship software program updates and patches to automobiles, creating potential safety vulnerabilities if not securely applied. . Securing the huge quantity of delicate knowledge collected and transmitted by EVs, reminiscent of driving conduct and site knowledge, can also be crucial to sustaining shopper belief and complying with privateness rules.
Furthermore, as EVs function a platform for the event of autonomous driving know-how, guaranteeing the cybersecurity of those techniques is paramount to defending passengers and pedestrians from potential cyberattacks. Regulatory our bodies are more and more specializing in cybersecurity requirements for linked vehicles, together with electrical automobiles, additional rising the demand for cybersecurity options tailor-made to the EV market. The speedy development of the EV market presents important alternatives for cybersecurity answer suppliers to innovate and develop purpose-built options to handle the distinctive cybersecurity challenges related to electrical automobiles.
Development of autonomous and semi-autonomous automobiles
The improvement of autonomous and semi-autonomous automobiles is a key driver of the automotive cybersecurity market, and the proliferation of those superior applied sciences is creating new challenges and vulnerabilities that should be addressed. Tesla might not count on totally self-driving shopper vehicles to hit the market anytime quickly, however extremely self-driving vehicles are shortly changing into a actuality on the highway. Companies like Waymo and GM’s Cruise already function driverless automobiles on public roads, albeit inside restricted geographic areas. However, the introduction of those self-driving vehicles poses distinctive challenges as cybersecurity professionals depend on synthetic intelligence (AI) and machine studying (ML) algorithms.
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https://www.visiongain.com/report/automotive-cyber-security-market-2024/
Where are the market alternatives?
Investment in analysis and improvement associated to automotive cybersecurity is increasing
The surge in funding in analysis and improvement (R&D) represents a pivotal pattern within the automotive cybersecurity market and demonstrates the industry-wide dedication to innovation and technological development. Stakeholders throughout the automotive ecosystem acknowledge the rising cybersecurity threats going through fashionable automobiles and are working to strengthen their cyber defenses, enhance risk detection capabilities, and pioneer new cybersecurity options. We are dedicating important assets to analysis and improvement initiatives aimed toward
This surge in R&D funding underscores the shared recognition that it’s important to remain forward of recent cyber threats and vulnerabilities posed by the speedy digitization and connectivity of auto techniques. As automobiles develop into extra interconnected and depend on advanced software-driven options, the necessity for strong cybersecurity measures has by no means been higher. As a outcome, automakers, know-how suppliers, cybersecurity corporations, and tutorial establishments are ramping up their analysis and improvement efforts to develop modern options that scale back cyber dangers and improve automobile safety.
Automotive OEMs can vertically combine cybersecurity options into their merchandise
aggressive surroundings
The key gamers working within the automotive cyber safety market are Argus Cyber Security, Cisco Systems, Inc., Harman International Industries, Inc., Upstream Security Ltd., NXP Semiconductors, Karamba Security Ltd., secunet Security Networks AG, Infineon Technologies AG, Robert Bosch GmbH, Kaspersky Lab, Vector Informatik GmbH, and VinCSS Cyber Security Service Joint Stock Company. These key gamers working on this market are adopting varied methods reminiscent of M&A, investments in R&D, collaborations, partnerships, regional enlargement, and new product launches.
Recent traits
April 17, 2024 Argus Cyber Security, the world chief in automotive cybersecurity, has accomplished a vehicle-level penetration testing venture for the brand new Ford F-MAX heavy-duty truck. Vehicle-level penetration testing in keeping with UNR 155 cybersecurity rules was an vital milestone for Ford Trucks in acquiring sort approval certification for its F-MAX mannequin. April 10, 2023 Upstream Security, an Israeli automotive cybersecurity startup, has obtained an undisclosed funding from Cisco Investments as demand for linked automobiles and different units will increase. Cisco Investments is the company enterprise capital arm of Cisco Systems.
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