Automotive Cyber Security Industry Overview
The global automotive cyber security market size is expected to reach USD 5.56 billion by 2025 expanding at a CAGR of 21.4% during the forecast period, according to a study conducted by Grand View Research, Inc. increasing risks of data breaching due to rise in number of connected and automated vehicles will drive the market. Moreover, growing emphasis of OEMs on strengthening cyber security policies is expected to propel the demand for automotive cyber security over the projected period. Cloud infrastructure, mobile cross platforms, and automotive data taxonomy, are the key connectivity trends in the automotive cyber security market.
Automotive Cyber Security Market Segmentation
Grand View Research has segmented the global automotive cyber security market on the basis of security, vehicle type, application, service, and region:
Based on Security Insights, the market is segmented into Endpoint, Application and Wireless Network.
- Rising need to ensure network security via restricted device management in-vehicle terminals due to the increasing number of connected cars resulting in a high probability of attacks on network interfaces will drive the segment.
- The application segment will witness the fastest CAGR of 23.4% from 2019 to 2025.
Based on the Vehicle Type Insights, the market is segmented into Passenger Car, Commercial Vehicle and Electricall Vehicle.
- The electric vehicle segment will register the fastest CAGR from 2019 to 2025 as potential markets, such as the U.S. and Europe, are witnessing increasing sales of EVs.
- Besides luxury or sports cars, new energy vehicles are also responsible for exponential growth in the segment.
Based on the Application Insights, the market is segmented into ADAS & Safety System, Infotainment, Body Electronics, Powertrain and Telematics.
- Infotainment is anticipated to be the largest segment over the forecast years.
- ADAS & safety system is also expected to witness healthy growth.
- The segment is currently witnessing groundbreaking technological advances in ADAS and autonomous driving technologies, which is expected to augment the demand for a constant connection from the vehicle’s ECU to several cloud services that enhance sensor processing and subsequent vehicle maneuvering.
Based on the Service Insights, the market is segmented into In-vehicle Services and External Cloud Services.
- In-vehicle services are the leading segment. The rise in endpoint applications, such as radio, mobile, smart antenna, in automobiles is fueling the demand for in-vehicle services.
- External cloud services are the fastest-growing segment owing to the development of cloud infrastructure and framework.
Automotive Cyber Security Regional Outlook
- North America
- Europe
- Asia Pacific
- Rest of World
Key Companies Profile & Market Share Insights
Some prominent players in the global Automotive Cyber Security market include:
- Argus Cyber Security Ltd.
- Arilou Technologies
- Vector Informatik GmbH
- NXP Semiconductors N.V.
- HARMAN International
- Symantec Corporation
- Denso Corporation
- Honeywell International, Inc.
- Guardknox Cyber-Technologies Ltd.
Order a free sample PDF of the Automotive Cyber Security Market Intelligence Study, published by Grand View Research.
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