Automotive Cyber Security Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The automotive cyber security market is expected to register a CAGR of 19.2% during 2023–2031. The evolution of advanced technologies, like the integration of the Internet of Things (IoT) in vehicles, is likely to remain a key trend in the market.

Automotive Cyber Security Market Analysis

• The increasing demand for automotive cybersecurity, high-end connectivity of vehicles, and digitalization has led to significant growth in the global automotive cybersecurity market.
• The growing chances of cyber threats have increased as cars are getting more advanced and sophisticated features such as infotainment systems, autonomous driving capabilities, and a variety of sensors. Owing to this, there has been an increase in demand for cybersecurity solutions to protect cars and their occupants from possible cyberattacks.

Automotive Cyber Security Market Overview

• The automotive cybersecurity market is anticipated to be driven by several factors, such as the increasing number of electronic control units (ECUs) in electric vehicles for improved performance and sophistication, the upsurge in cyberattacks targeting the automotive industry, and the growing number of connected and autonomous vehicles.
• Automotive cybersecurity solution providers are working with other key stakeholders and investing broadly in the development of advanced automotive cybersecurity solutions to combat the growing number of cyber-attack vectors.
•  Due to original equipment manufacturers' (OEMs)' growing concerns about vehicle security, the automotive cybersecurity market is expected to grow significantly over the upcoming years.

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Automotive Cyber Security Market: Strategic Insights

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Automotive Cyber Security Market Drivers and Opportunities

Growing Focus on Technological Advancement in Vehicles to Favor the Market

• The market for automotive cybersecurity is developing as an outcome of the widespread application of connected vehicle technology.
• With features such as infotainment systems, telematics, remote diagnostics, and over-the-air (OTA) software updates, modern cars are getting more connected. Although these features improve driving and have many advantages, they also make users more vulnerable to online threats. To exchange data with outside systems and services, connected cars rely on a variety of communication interfaces and networks.
• If these connections are not adequately secured, they may turn into potential aspects of attack. Through these interfaces, cybercriminals can target vehicle systems, potentially jeopardizing data security, privacy, and safety. Thus, demand for strong automotive cybersecurity solutions is rising as connectivity keeps growing.

Emergence of software-defined vehicles

• The automotive industry has begun to focus more on vehicles that are software-centric.
• Automotive software is primarily responsible for enabling the features and functions of these vehicles. Most automotive manufacturers would likely procure cybersecurity products from suppliers and integrate them into their vehicle’s hardware.
• The weak internal capabilities of most automakers at the plant or in technical centers may create significant vulnerabilities during the delay. This will lead to a rise in the demand for software-defined vehicles, which will create growth opportunities for the automotive cybersecurity market.

Automotive Cyber Security Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive cyber security market analysis are the solution, security type, application, and vehicle type.

• Based on the solution, the automotive cyber security market is divided into hardware, software, and services.
• based on the security type, the market is divided into network security, endpoint security, application security, cloud security, and others.
• Based on application, the automotive cyber security market is divided into telematics, infotainment, onboard diagnostics, electronic control units, communication channels, and safety systems.
• based on the vehicle type, the market is divided into commercial vehicles and passenger vehicles.

Automotive Cyber Security Market Share Analysis by Geography

• The automotive cyber security market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive cyber security market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive cyber security market in these regions.

Automotive Cyber Security

Automotive Cyber Security Market Regional Insights

The regional trends and factors influencing the Automotive Cyber Security Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Cyber Security Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Automotive Cyber Security Market Report Scope

Automotive Cyber Security Market Players Density: Understanding Its Impact on Business Dynamics

The Automotive Cyber Security Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Automotive Cyber Security Market are:

1. Harman International Industries, Inc.
2. Argus Cyber Security Ltd.
3. Intel Corporation
4. Delphi Automotive PLC
5. Trillium Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Automotive Cyber Security Market News and Recent Developments

The automotive cyber security market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive cybersecurity market are listed below:

• BlackBerry Limited announced a partnership with the leading automotive cybersecurity platform, Upstream Security, to enable automakers to strengthen the overall security posture of their vehicles by leveraging the rich telemetry data and edge compute capabilities from BlackBerry IVY. (Source: Upstream Security, Company Website, June 2023)
• HL Mando, the leading global supplier of automotive systems, and Argus Cyber Security,  a world leader in cyber security products and services for mobility platforms, signed a memorandum of understanding (MOU) to bolster the cyber security capabilities of HL Mando. By partnering with Argus, HL Mando will be able to comply with new international automotive cyber security regulations that mandate all suppliers in the industry to meet performance and audit requirements. (Source: Argus Cyber Security, Company Website, September 2022)

Automotive Cyber Security Market Report Coverage and Deliverables

The “Automotive Cyber Security Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive cyber security market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive cyber security market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automotive cyber security market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive cyber security market
• Detailed company profiles