A study on Automotive Cyber Security Market has been conducted to understand the landscape in 2022.
Survey Period: November 05 – November 12, 2022
Researcher: SDKI Inc.
STUDY SUBJECT: We conducted a survey of 530 market players of all sizes. Number of valid answers: 530
Survey method: 215 field surveys, 315 internet surveys
Survey Respondents: The survey was conducted among companies based on revenue. Q: How big is the automotive cybersecurity market?
The automotive cybersecurity market is expected to garner around USD 7 billion in 2022, growing at a CAGR of 17% during the forecast period. Furthermore, the global automotive cybersecurity market is expected to reach approximately US$32 billion by 2035.
Q: What are the factors driving the growth of the automotive cyber security market?
Following are some key factors driving the growth of the automotive cybersecurity market.
1- Increased number of connected vehicles on the road
2- Introduction of vehicle safety and cybersecurity guidelines 3- Increasing use of telematics in vehicles
In addition, there is a growing demand for advanced driver assistance systems (ADAS) in new vehicles. Investments in manufacturing connected cars are also increasing. These will contribute to the growth of the automotive cybersecurity market through effective collaboration between ICT and the automotive business.
Q: What are the basic classifications of the automotive cybersecurity market? The automotive cyber security market can be segmented by security type, vehicle type, offering, and form. The taxonomy of these categories is as follows:
1. By type of security
Endpoint network security
application network security
wireless network security
2. Vehicle type
Light commercial vehicle (LCV)
Heavy Commercial Vehicle (HCV)
3. By offer
4 By form
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Q: Which security type accounts for the largest revenue share in the automotive cyber security market?
Wireless network security is estimated to capture the largest share of the automotive cybersecurity market. Transport authorities in Asia, North America and Europe are focusing on improving vehicle
infrastructure. Also, the production of connected cars is increasing. Efforts are also being made to prevent remote access to electronics in vehicles. These are the factors driving the demand for wireless network security in the automotive cybersecurity market.
Q: Which type of vehicle holds the largest share of the automotive cybersecurity market?
Passenger vehicle type is expected to hold the largest share of the automotive cybersecurity market. Growth in this subcategory was driven by increased sales of luxury and mid-range luxury vehicles.
Cybersecurity for passenger vehicles is more advanced and advanced than for light commercial vehicles (LCV) and heavy commercial vehicles (HCV). The sheer number of electronic control units (ECUs) in passenger cars makes them more vulnerable to cyberattacks. This situation has increased the demand for automotive cyber security in passenger cars. In addition, increasing implementation of V2X (vehicle-to-everything), including vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and vehicle-to-pedestrian (V2P) in passenger cars, will contribute to the growth of this subcategory. V2X helps address concerns about safety, traffic, and pollution levels. [Image 3
Q: What are the market constraints on the automotive cybersecurity market? Some of the factors restraining the growth of the automotive cybersecurity market are:
Vehicle hacking opportunities are increasing as vehicle electronic systems become more complex
Burdened by increased implementation costs for original equipment manufacturers (OEMs)
Challenges Faced by Cybersecurity Solution Providers When Determining Pricing Strategy
Q: Which companies are leading the automotive cybersecurity market? Following are the companies that lead the automotive cybersecurity market – Continental AG
Robert Bosch GmbH
NXP Semiconductors N.V.
Aptiv Global Operations Limited
Karamba Security Ltd.
Upstream Security Ltd.
Green Hills Software LLC
Q: What are the recent developments in the automotive cybersecurity market? Below are recent developments in the automotive cybersecurity market. 1. In November 2022, Renault launched Austral, a compact SUV incorporating a premium Harman Kardon sound system by HARMAN International.
2. In November 2021, NXP Semiconductors announced that Ford Motor Company has decided to implement a vehicle network processor by NXP into its fully networked vehicle architecture.
Q: Which region has the greatest revenue opportunity in the automotive cyber security market?
The North America region is expected to offer the greatest lucrative opportunity in the automotive cybersecurity market. Rising demand for connected cars is the main factor driving the market growth in North America. In addition, the region has a growing presence in
cybersecurity and automotive businesses. There are also joint efforts by tech giants and local governments to research and develop automotive cybersecurity.
Another region with impressive market growth potential is Europe. The presence of leading manufacturers of connected cars is the reason behind the growth of the European regional market.
SKI’s purpose is to provide clients with reliable research insights including growth indicators, challenges, trends and the competitive landscape. We have the expertise to work with various market sectors to provide our clients with the best possible service and help them make smart decisions.
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