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The size of the global automotive cybersecurity market is $6.2 billion By 2028, it will rise at a market growth of 19.9% CAGR during the forecast period.
Driver preferences and desires are changing rapidly. Automobiles and entire industries are transforming to meet consumer desires for personalized experiences. Increased personalization and connectivity leads to more software and more risk. Similar to how smartphones and smart home appliances work, connected cars can share internet and wireless network access with other cars and external devices.
Data can be sent and received. Greater features and capabilities are already provided by new software to meet drivers’ demands and expectations. In such cases, automotive cybersecurity is essential and should be taken into consideration during the forecast period.
The automotive cybersecurity market is expected to develop as a result of factors such as increasing demand for automotive cybersecurity, government attempts to integrate connected car technology, and imposition of mandatory cybersecurity requirements. Additionally, the use of adaptive security to improve vehicle security and the increasing complexity of automotive electronic systems is expected to emerge in the coming years.
COVID-19 impact analysis
To limit the impact of the COVID-19 pandemic, governments around the world have had to impose strict lockdowns and mandate social isolation.
As a result, the new car market has plummeted. It also slashed raw material supplies, slowed manufacturing, and disrupted supply systems around the world. The adoption of state-of-the-art cybersecurity systems has been hampered by the losses experienced by the automotive industry.
However, the use of automotive cybersecurity solutions is expected to increase over time due to the growing demand for connected vehicles and ongoing vaccination campaigns taking place around the world.
Market growth factors
Growing need for automotive cybersecurity
The automotive business is changing as a result of increased vehicle connectivity to everything from traffic lights, parking meters, and more.
Advanced technologies such as shared mobility, self-driving cars, electric vehicles and advanced driver assistance systems (ADAS) are everywhere. These technologies not only improve the comfort and safety of our roads, but also expose this complex and dynamic environment to cyberattacks.
Attack points increase as the ecosystem becomes more interconnected, revealing new weaknesses that hackers can exploit to jeopardize vehicle safety, user privacy, and vehicle data integrity. Rising need for security against increasing cyberattacks on connected cars is expected to drive the expansion of the automotive cybersecurity market during the forecast period.
Enhance car security with adaptive security
Cybersecurity technology called adaptive security examines actions and occurrences to stop and prepare for threats before they occur.
Enterprises can use adaptive security architectures to provide proportional enforcement that can be scaled up or down while continuously analyzing risk.
Protecting a distributed workforce with adaptive security is easier. This is something many automakers lack across their operations. Therefore, these factors in the automotive industry are expected to boost the market growth during the forecast period.
Market restraining factors
Differences in pricing tactics among stakeholders
The emergence of additional services such as e-call, multimedia streaming and remote diagnostics in connected cars is changing the entire automotive business ecology. The automotive ecosystem has changed from fixed to dynamic, with each party taking a share of the revenue. The presence of many stakeholders makes it difficult to implement pricing models in linked ecosystems.
Managing the complexity and cost of various pricing strategies is a challenge for many businesses. Software companies now use multiple pricing models to generate revenue. According to experts in the field, cybersecurity solution providers struggle to apply the best pricing plans in different situations to increase revenue and reduce potential losses.
Chapter 1 Market Scope and Methodology
Chapter 2 Market Overview
188.8.131.52 Market Composition and Scenario
2.2 Key Factors Affecting the Market
2.2.1 Market Driver
2.2.2 Market Constraints
Chapter 3 Strategies to be Deployed in Automotive Cyber Security Market
Chapter 4 Global Automotive Cyber Security Market by Application
4.1 Global Telecommunications Systems Market by Region
4.2 Global Telematics Market by Region
4.3 Global Infotainment Market by Region
4.4 Global ADAS & Safety Market by Region
4.5 Global Body Control & Comfort Market by Region
4.6 Global Powertrain Systems Market by Region
5 Global Automotive Cyber Security Market by Security Type
5.1 Global Application Security Market by Region
5.2 Global Endpoint Security Market by Region
5.3 Global Network Security Market by Region
Chapter 6 Global Automotive Cyber Security Market by Offer
6.1 Global Software Market by Region
6.2 Global Hardware Market by Region
7. Global Automotive Cybersecurity Market by Form
7.1 Global Automotive Market by Region
7.2 Global External Cloud Services Market by Region
Chapter 8 Global Automotive Cyber Security Market by Region
Chapter 9 Company Profile
9.1 Robert Bosch GmbH
9.1.1 Company Profile
9.1.2 Financial Analysis
9.1.3 Segment and Regional Analysis
9.1.4 Research and development expenses
9.1.5 Recent Strategies and Developments:
184.108.40.206 Acquisitions and mergers:
9.1.6 SWOT Analysis
9.2 Continental AG
9.2.1 Company Profile
9.2.2 Financial Analysis
9.2.3 Segment and Regional Analysis
9.2.4 Research and development expenses
9.2.5 Recent Strategies and Developments:
220.127.116.11 Partnerships, Collaborations and Agreements:
9.2.6 SWOT Analysis
9.3 Denso Corporation
9.3.1 Company Profile
9.3.2 Financial Analysis
9.3.3 Regional Analysis
9.3.4 Research and development expenses
9.3.5 Recent Strategies and Developments:
18.104.22.168 Acquisitions, mergers and joint ventures:
9.4 Aptive PLC
9.4.1 Company Profile
9.4.2 Financial Analysis
9.4.3 Segment and Regional Analysis
9.4.4 Research and development expenses
9.4.5 Recent Strategies and Developments:
22.214.171.124 Acquisitions and mergers:
9.5 Harman International Industries, Inc. (Samsung Electronics Co., Ltd.)
9.5.1 Company Profile
9.5.2 Financial analysis
9.5.3 Segment and Regional Analysis
9.5.4 Research and development expenses
9.5.5 Recent Strategies and Developments:
126.96.36.199 Partnerships, Collaborations and Agreements:
9.5.6 SWOT Analysis
9.6 Vector Informatics
9.6.1 Company profile
9.6.2 Recent Strategies and Developments:
188.8.131.52 Acquisitions and mergers:
9.7 Arilou Information Security Technologies Ltd. (NNG Group)
9.7.1 Company Profile
9.8 GuardKnox Cyber Technologies Ltd.
9.8.1 Company Profile
9.8.2 Recent Strategies and Developments:
184.108.40.206 Partnerships, Collaborations and Agreements:
9.9 Karamba Security Ltd.
9.9.1 Company Profile
9.9.2 Recent Strategies and Developments:
220.127.116.11 Partnerships, Collaborations and Agreements:
18.104.22.168 Product Launch and Product Expansion:
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