Automotive Cyber Security Market Report and Forecast 2024-2032

Global Automotive Cyber Security Market Report and Forecast 2024-2032

Market Outlook

According to the report the global automotive cyber security market is projected to grow at a CAGR of 20.7% between 2024 and 2032 to reach a value of about USD 16.91 billion by 2032. Aided by the growing integration of digital technologies in vehicles and the surging risks associated with automotive cyber threats, the market is expected to grow signfiicantly by 2032.

Automotive cyber security, in its essence, pertains to the protective measures and technologies used to safeguard in-car electronic systems, networks, and data from cyber threats. With cars becoming smarter, there's an increasing convergence of physical and digital safety measures. From navigation systems, advanced driver-assistance systems (ADAS) to infotainment - the vast expanse of interconnected electronic components has opened up avenues for potential digital breaches.

The accelerating pace of vehicle digitisation is a prime factor fuelling the automotive cyber security market growth. Vehicles today are no longer just a mode of transportation but are evolving into connected platforms that integrate a myriad of functions. These advancements, though groundbreaking, have inadvertently amplified the cyber-attack surface.

One of the predominant drivers behind the growth of this market is the expanding realm of connected cars and the imminent arrival of autonomous vehicles. As vehicles get more interconnected with external networks, the potential entry points for cyber attackers multiply. This shift necessitates robust cyber security measures to ensure the safety and privacy of the driver and vehicular data.

As per the automotive cyber security market analysis, the ever-increasing consumer demand for vehicle-to-everything (V2X) communication systems further increase the importance of automotive cyber security. V2X, which allows vehicles to communicate with any entity that may affect it, be it other vehicles, infrastructure, or pedestrians, holds potential vulnerabilities that need rigorous cyber security measures.

Another pivotal factor pushing the global automotive cyber security market demand is the stringent regulations and standards being established by governments worldwide. Recognising the potential risks, legislative bodies have begun to mandate the integration of security measures, ensuring that vehicles on the road are not just physically but also digitally secure.

Furthermore, as the Internet of Things (IoT) becomes more embedded in automotive operations, from manufacturing to on-road operations, the potential risks extend beyond the vehicle. This holistic digitisation demands a comprehensive cyber security approach that safeguards not just the car but the entire automotive ecosystem.

Market Segmentation

The market can be divided based on security, application, form, vehicle, electric vehicle, and region.

Market Breakup by Security

• Endpoint Security
• Application Security
• Wireless Network Security

Market Breakup by Application

• Telematics System
• Infotainment System
• Powertrain System
• Body Control & Comfort Control
• Communication System
• ADAS & Safety System
• Others

Market Breakup by Form

• In-Vehicle
• External Cloud Service

Market Breakup by Vehicle

• Passenger Car
• Commercial Vehicle

Market Breakup by Electric Vehicle

• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive cyber security market. Some of the major players explored in the report are as follows:

• Harman International Industries, Incorporated
• Continental AG
• Garrett Motion Inc.
• DENSO Corporation
• Renesas Electronics Corporation
• Karamba Security Ltd.
• Vector Informatik GmbH
• AUTOCRYPT Co., Ltd.
• Others