The Future of Automotive Cybersecurity: Emerging Technologies and Challenges

The Future of Automotive Cybersecurity: Emerging Technologies and Challenges

The Global Automotive Cybersecurity Market is likely to grow at a CAGR of around 14.8% during the forecast period of 2022-27, cites MarkNtel Advisors in their recently published research report. The market growth is fueled by the increasing mandate for connected vehicles because of upgraded safety, improved efficiency, and amplified reliability. These vehicles are built of numerous electronic parts, including telematics, body electronics, infotainment, ADAS, and others, that enable effortless functioning of the vehicles by storing & processing huge amounts of data.

The vehicle manufacturers growingly adopted and implemented automotive cybersecurity solutions in the past years to reduce security apprehensions and offer passengers & pedestrians heightened safety & security. Moreover, the rising disposable income and the growing demand for luxury vehicles by significant manufacturers are anticipated to aid considerably in the need and demand for cybersecurity solutions during the forthcoming period. Further, the booming vehicle production with semi-automatic & fully automatic competencies is likely to drive the demand for automotive cybersecurity solutions in the coming years.

Global Automotive Cybersecurity Market Segmentation Analysis

• By Application (Body Control & Comfort, ADAS & Safety Systems, Telematics System, Infotainment System, and Others (On-board Diagnostics, Operational Data, Powertrain System, etc.))
• By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles (LCV), and Medium & Heavy Commercial Vehicles (M&HCV))
• By Vehicle Autonomy (Non-autonomous Vehicles, Semi-autonomous Vehicles, and Autonomous (driverless) Vehicles)
• By Deployment Type (Embedded and Integrated (Cloud-based))
• By Security (Application Security, Wireless Network Security, Endpoint Security, and Others (Network Security, etc.))
• By Region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific)

The passenger vehicle segment dominated the Global Automotive Cybersecurity Market in the past years (2017-21). The demand for automotive cybersecurity solutions from passenger vehicles has increased given the growing deals & sales of luxury and mid-luxury passenger vehicles furnished with V2X technologies, tackling traffic congestion, and energy savings. Passenger vehicles are more likely to get cyberattacks as they are integrated with a significant number of Electronic Control Units (ECUs), coupled with the integration of data transfer network systems, such as GPS, Wi-Fi, Bluetooth, etc. Therefore, the demand for automotive cybersecurity is high in this segment.

North America to lead the Global Automotive Cybersecurity Market during the forecast period (2022-27) since the region houses some of the major automotive producers manufacturing lightweight & heavy-weight automated & electronic vehicles for customers globally. Additionally, an important aspect contributing substantially to the growth of the Global Automotive Cybersecurity Market is the increasing sales of automated vehicles across the region. Moreover, the escalating initiatives by the major vehicle manufacturers such as Ford & Tesla to proliferate the manufacturing and production of automated and electric vehicles globally are anticipated to significantly contribute to the upsurge of the Automotive Cybersecurity Market in North America.

Key Players Dominating the Competitive Landscape of the Global Automotive Cybersecurity Market

The leading market companies in the Global Automotive Cybersecurity Market include Amazon Web Services, Microsoft Corporation, Continental AG, IBM Corporation, Herman International, Tesla Inc., Wejo Limited, Oracle Corporation, Xevo Inc., Tech Mahindra Ltd, Vinli Inc., SmartO, The Floow ltd, Otonomo Technologies, Caruso GmbH, and others.