The global Automotive Cyber Security Market size is projected to grow from USD 1.9 billion in 2020 to USD 4.0 billion by 2027, at a CAGR of 16.5%.
Latest added Automotive Cyber security Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Argus Cyber Security, Intel Corporation, Trillium, Harman International Industries, Delphi Automotive PLC. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
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This report studies the Automotive Cyber security Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Automotive Cyber security Market by companies, region, type and end-use industry.
Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ” Automotive Cybersecurity Market By Vehicle Type (Passenger Car, Commercial Vehicle, Electrical Vehicle), Service (In-vehicle Services, External Cloud Services), Security (Endpoint, Application, Wireless Network), Application (ADAS & Safety System, Infotainment, Body Electronics, Powertrain, Telematics) and Geography – Global Forecast To 2026″. Early buyers will get 10% customization on study.
To Avail deep insights of Automotive Cyber security Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
Unlock new opportunities in Automotive Cyber Security Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high growth opportunities for the Automotive Cyber Security market by headset type (standalone, smartphone enabled and PC-connected),by application (military, education, entertainment and media, retail, real estate and healthcare), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market (Automotive Cyber Security market, Automotive Cyber Security market share) dynamics? What are the key challenges and business risks in this Automotive Cyber Security market?
Q.5. What are the business risks and competitive threats in this Automotive Cyber Security (Automotive Cyber Security market, Automotive Cyber Security market share) market?
Q.6. What are the emerging trends in this Automotive Cyber Security (Automotive Cyber Security market share) market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the Automotive Cyber Security (Automotive Cyber Security market share) market?
Q.8. What are the new developments in the Automotive Cyber Security (Automotive Cyber Security market share) market? Which companies are leading these developments?
Q.9. Who are the major players in this Automotive Cyber Security (Automotive Cyber Security market share) market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this Automotive Cyber Security (Automotive Cyber Security market share) market and how big of a threat do they pose for loss of market share by material or product substitution?
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Increased use of electronics per vehicle and a growing number of connected cars, and reinforcement of mandates by regulatory bodies for vehicle data protection are some of the key factors that will drive the market for the automotive cybersecurity market. The growth of the V2X market is also one of the factors that drive the automotive cybersecurity market.
COVID-19 impact on automotive cybersecurity market:
major automotive cybersecurity solution providers such as Bosch and Continental have announced the suspension of production due to the lowered demand, supply chain bottlenecks and to protect the safety of their employees in France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for automotive cybersecurity solutions is expected to decline in 2020. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from OEMs and tier 1 manufacturers.
Major automotive cybersecurity solution providers lost revenue in Q1 2020. As the resumption of vehicle production is not likely in the immediate future due to the severity of the pandemic, especially in the US and major European countries, tier 1 players suspect a further decline in revenue in the remaining quarters of 2020. For instance, Aptiv’s advanced safety and user segment logged revenue of USD 902 million in Q1 2020 compared to USD 1,023 in Q1 2019, a decline of 13%. According to the company, the scenario could be worse in Q2 as global vehicle production is expected to fall by 50-60%. The company suspended production in China, followed by North America and Europe. According to industry experts, investments in automotive cybersecurity has slowed down a bit. Thus, the market for automotive cybersecurity is estimated to undergo a declining phase in 2020.
Driver: Reinforcement of mandates by regulatory bodies for vehicle data protection
The Security and Privacy in Your (SPY) Car Act, legislation proposed in the US in 2015, aims to mandate that critical software systems in cars are isolated and that the entire vehicle is safeguarded against hacking by using cybersecurity measures. It also specifies that data stored in the car should be secured to prevent unauthorized access, and vehicles should detect the same, alert the drivers, and respond to hacking attempts in real-time. Along with these measures, the act, which is developed by the National Highway Traffic Safety Administration (NHTSA) will also regulate the information collected, transmitted, or shared by the vehicle by sharing the same with its owner.
Restraint: Complex ecosystem with multiple stakeholders
The automotive industry has been a focus area for many non-automotive technology companies as the value chain is fragmented, and revenue distribution has become a challenge for stakeholders. The development of countermeasures is challenging because of the lack of standardization of cybersecurity solutions. The solutions for cybersecurity depend on the specifications given by the OEMs. These solutions vary due to the use of different platforms in the same vehicle model, differences in the electronic architecture, and different features in the vehicle. As a result, the automotive cybersecurity solution providers face integration risks to deal with threats and vulnerabilities of a vehicle.
Opportunity: Growing cloud-based applications in the automotive industry
Cloud technologies are expected to benefit automotive users as well as OEMs. Cloud-based solutions increase the efficiency of the entire process by reducing downtime and providing faster data transfer and mobility. With the help of cloud-based solutions, OEMs can gather real-time data from their users. OEMs can focus on providing better services and gain customer loyalty by meeting customer’s requirements. Due to the increasing trend of cloud-based solutions, the leading automotive OEMs and automotive system OEMs across the world are strategically expanding by partnering with or acquiring companies that can provide countermeasures to overcome the challenges faced in the cloud-based solutions.
Challenge: Time lag in the delivery of cybersecurity updates
Most of the automobile manufacturers do not have any necessary software development capabilities. The automobile manufacturers are only responsible for integrating the cybersecurity solution with the hardware of the vehicle while the rest is the responsibility of the cybersecurity provider. Hence, due to the absence of robust capabilities within automobile manufacturing plants and service centers, the time lag in rectifying the identified vulnerabilities increases. The security code update development is a time-taking process due to back-end system records, which hampers the whole process of delivering updates to the market without any delay.
The software segment is expected to be the largest during the forecast period
The software segment is estimated to lead the automotive cybersecurity market during the forecast period because of the following factors:
- The increasing adoption of connected technologies is encouraging the installation of more number of ECU
- The trend of moving from personal mobility to shared mobility
- Installation of modern technologies such as advanced infotainment, ADAS features, and improved powertrains
According to industry experts, the cost of software per vehicle is expected to increase by 10% on a year-on-year basis in the next few years and would become constant after that whereas, hardware prices are expected to remain constant for the next few years.
ADAS & safety segment in will have a major share in the automotive cybersecurity market by electric vehicle application during the forecast period
ADAS is considered as one of the key safety technologies for modern vehicles and are generally installed in high-end vehicles. Electric vehicles are also equipped with ADAS and safety technologies and are projected as safe vehicles by OEMs. Sensors and processors used in ADAS & safety technology use power from the battery of electric vehicles. Hence, it is important to have a continuous power supply and constant communication with other sub-systems inside the vehicle. It is generally done by ADAS ECUs. Hence, it is critical to secure ADAS & safety applications from cyberattacks.
The passenger vehicles segment is expected to dominate the automotive cybersecurity market during the forecast period
Electrical /electronic (E/E) architecture of a passenger vehicle is more complex and critical than LCVs and HCVs. These passenger vehicles are equipped with a considerable number of ECUs and are more prone to cyber-attacks compared with the other two category of vehicles considered. Automotive cybersecurity is at the growth stage of the product life cycle and naturally will be applied for passenger vehicles. Stakeholders also prefer to test cybersecurity solutions for passenger vehicles and in the future, are expected to commercialize for commercial vehicles.
“The Asia pacific automotive cybersecurity market is projected to hold the largest share by 2027.”
The Asia Pacific is estimated to be the largest market for automotive cybersecurity in 2020. High vehicle production, vehicle safety norms, adoption of connected vehicle technologies, and increasing sales of mid-luxury & luxury vehicles are some of the factors driving the automotive cybersecurity market in the Asia Pacific. In recent years, Japan and South Korea have been taking remarkable steps toward automotive cybersecurity. In 2019, the Japan Automobile Manufacturers Association (JAMA) launched a Cybersecurity Working Group under its Electronic Information Exchange Committee to collaborate on cybersecurity with various stakeholders, including WP.29. Japanese automakers that have a market in the US have joined the US Automotive Information Sharing and Analysis Center (Auto-ISAC) to share Japanese insights into cybersecurity and cyberattacks with their American counterparts. South Korea has also followed UNECE WP.29 regulations.
Key Market Players
The global automotive cybersecurity market is dominated by major players such as Robert Bosch (Germany), Continental AG (Germany), Harman International (US), Denso Corporation (Japan), Aptiv (Ireland), Karamba Security (Israel), SafeRide Technologies (Israel), Arilou Technologies (Israel), GuardKnox (Israel), etc. These companies have secure distribution networks at a global level and offer a wide range of cybersecurity products for traditional as well as electric vehicle. The key strategies adopted by these companies to sustain their market position are collaborations, new product developments, acquisitions, etc.
Scope of the Report
This research report categorizes the automotive cybersecurity market based on application type, offering, form type, security type, vehicle type, electric vehicle application type, and region
Based on Offering:
Based on Application:
- ADAS & safety
- Body control & comfort
- Powertrain systems
- Communication systems
Based on form type
- External cloud services
Based on security type
Based on vehicle type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Based on electric vehicle application type:
- ADAS & safety
- Body control & comfort
- BMS & powertrain systems
- Communication systems
- Charging management
Based on the region:
- Asia Pacific
- North America
- Rest of the World
- In July 2020, Continental has adopted Renesas’ high-performance Renesas R-Car M3 system-on-chip (SoC) for its first-generation body high-performance computer (HPC). The HPC is an automotive computing platform that provides centralized control of vehicle systems and is equipped with secure gateway functionality to enable cloud service connectivity.
- In June 2020, Upstream Security, announced that it had joined the Amazon Web Services (AWS) Partner Network as a Select Tier Technology Partner. Upstream Security pioneered automotive cloud cybersecurity and unlocked the value of automotive data, ensuring that connected vehicles and mobility services are safe, secure, and operating optimally.
- In March 2020, Argus Cyber Security and NXP Semiconductor announced a new integrated solution that allows carmakers to protect Ethernet network communications based on the NXP S32G vehicle processor. The joint solution consists of 1) Argus’ Ethernet Intrusion Detection System (IDS), which detects malicious activity at the network and application layers to keep drivers connected and protected. 2) NXP’s S32G processor, a key building block for future vehicles, creates new opportunities with service-oriented gateways.
- In March 2020, GuardKnox opened a new subsidiary in Detroit to support the automotive client base in North America and expand global reach. The Livonia location enables GuardKnox to serve its existing US customers better, build partnerships, and initiate business in the US. It is onboarding new business development leaders, project managers, and engineers.
- In December 2019, SafeRide Technologies and NXP Semiconductors announced the integration of vSentry Edge AI –embedded behavioral profiling and anomaly detection solutions for connected vehicles with the NXP vehicle network processors.
- In July 2019, Karamba Security announced the signing of a production agreement of its leading Carwall runtime integrity software, in Alpine infotainment systems. The platform provides ECU self-protection against remote code execution (RCE), helping to protect vehicles from cyberattacks.
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