Automotive Cyber Security Market Growth & Trends
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.
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Automotive Cyber Security Market Report
Automotive Cyber Security Market Report Highlights
- 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
Automotive Cyber Security Market Segmentation
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
