9-October-2019: The global automotive cyber security market size is expected to reach USD 5.56
billion by 2025 expanding at a CAGR of 21.4% during the forecast period,
according to a study conducted by Grand View Research, Inc. Increasing risks of
data breaching due to rise in number of connected and automated vehicles will
drive the market. Moreover, growing emphasis of OEMs on strengthening cyber
security policies is expected to propel the demand for automotive cyber
security over the projected period. Cloud infrastructure, mobile cross
platforms, and automotive data taxonomy, are the key connectivity trends in the
automotive cyber security market.
Technological
advancements pertaining to network connectivity in autonomous vehicles are
gaining traction owing to increasing data and volume of data exchange, which is
also likely to contribute to the market growth. Moreover, onboard electronic
information-control systems like tire-pressure, electric power steering,
fixed-speed cruise control, and auto-braking sensors have become mandatory
across all the vehicle categories. Other sophisticated systems are also making
their way into automotive electronics applications, such as infotainment, ADAS,
navigation, powertrain, and safety systems. This, in turn, would further
increase the vehicle-to-everything communication, thereby creating lucrative
growth opportunities for the market in automotive sector.
North America is
the largest regional market due to increasing demand for autonomous vehicles
and quick adoption of new technologies like smart antenna and connected car
systems. Moreover, rising investments and stringent measures taken by the
government towards incorporating cyber security policies for the automotive
market have bolstered the regional market growth. Some of the prominent
industry participants include Vector Informatik GmbH, Arilou Technologies, NXP
Semiconductors N.V., Argus Cyber Security Ltd, ESCRYPT, Continental AG, and
HARMAN International.
In
depth research report on Automotive Cyber Security Market
Further key findings from the study suggest:
·
The passenger car segment in Europe is expected to account
for 77.1% by 2025 due to rising production of Electric Vehicles (EVs),
development and implementation of cyber security strategies, eco-friendly
initiatives, and growing scope of data exchange
·
Infotainment application led the market in China due to quick
adoption of advanced vehicle technologies
·
Wireless network security segment is expected to account for
the largest share of the global automotive cyber security market by 2025
·
Emphasis of OEMs on capabilities offered by connected car
systems that have enabled a broad range of service and features contributes to
growth of the market in developed economies
Grand View Research
has segmented the global automotive cyber security market on the basis of
security, vehicle type, application, service, and region:
Automotive Cyber Security Outlook (Revenue, USD Million, 2019
- 2025)
·
Endpoint
·
Application
·
Wireless Network
Automotive Cyber Security Vehicle Type Outlook (Revenue, USD
Million, 2019 - 2025)
·
Passenger Car
·
Commercial Vehicle
·
Electrical Vehicle
Automotive Cyber Security Application Outlook (Revenue, USD
Million, 2019 - 2025)
·
ADAS & Safety System
·
Infotainment
·
Body Electronics
·
Powertrain
·
Telematics
Automotive Cyber Security Service Outlook (Revenue, USD
Million, 2019 - 2025)
·
In-vehicle Services
·
External Cloud Services
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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