The global automotive cybersecurity market size is anticipated to surpass USD 32 million, with a projected Compound Annual Growth Rate (CAGR) of 9% during the forecast period. Market Research Future (MRFR) conducted a comprehensive analysis of the market, identifying various factors that are expected to drive this growth. Key drivers include increasing demand for personal vehicles, improved technology integration, higher research investments, the growing demand for smart cars, and the associated security threats. However, it’s important to note that these technologies are expensive, and high-end vehicles are more likely to be equipped with them, limiting the market’s growth potential.
Market Segmentation:
The global automotive cybersecurity market has been segmented by MRFR analysts based on security type, vehicle type, and application, providing valuable data to develop strategies that can influence market trends and outcomes.
- Security Type: This segment includes network security, application security, endpoint security, cloud security, and wireless security.
- Vehicle Type: The market analysis comprises passenger cars and commercial cars, with the passenger segment expected to record significant growth due to personal safety preferences.
- Application: The report covers segments such as telematics, onboard diagnostics (OBD), communication channels, infotainment, powertrain, safety systems, and others.
Regional Analysis:
North America is expected to lead the automotive cybersecurity market due to advanced technical support for cybersecurity in the automotive industry.
Competitive Landscape:
Key players in the global automotive cybersecurity market include Harman International Industries, Inc. (U.S.), Argus Cyber Security (Israel), Intel Corporation (U.S.), Cisco Systems Inc. (U.S.), Karamba Security (Israel), NNG Software Developing And Commercial Llc. (Hungary), Escrypt Embedded Systems (Germany), NXP Semiconductors N.V. (Netherlands), Secunet AG (Germany), and others. These companies employ various strategic initiatives to ensure market growth, and they take measures to stay informed about trends and opportunities.
Industry News:
- In August 2020, Green Hills Software, a global provider of embedded safety and security, and Argus Cyber Security, a renowned automotive cybersecurity company, announced Argus’ membership in the Green Hills technology provider ecosystem. The partnership aims to benefit from a successful collaboration with an automotive customer, integrating Argus Control Flow Integrity with Green Hills Software’s C/C++ compiler.
- In August 2020, Israeli automotive cybersecurity risk assessment startup Cybellium announced it had raised a $12 million Series A round, with RSBG Ventures GmbH leading the round and contributions from Cybellum’s existing investors, Blumberg Capital and Target Global. This investment will enable Cybellum to expand its operations, marketing, and engineering programs, promoting the adoption of its Risk Assessment platform and Digital Twin approach in industries where they can scale vulnerability management operations.
Although the automotive cybersecurity market may face temporary setbacks due to the decline in automotive sales resulting from the COVID-19 pandemic, the market is expected to recover as countries restore their financial stability.
