238 Users Online
Automotive Cyber Security Market Segmented Hardware Security Modules, Secure Vehicle Network Gateways, Trusted Platform Modules as Hardware and Embedded Firewalls, Encryption & Cryptography, Biometrics & Authentication as Software and Professional Services, Managed Security Services
The market for automotive cyber security was valued at US$ 2,143.1 Mn in 2022, and by the end of 2033, it is expected to have grown to US$ 26,492.6 Mn. The market for automotive cyber security is estimated to valuate to US$ 2,661.7 Mn in 2023 and is predicted to grow at a CAGR of 25.8% from 2023 to 2033.
Automotive cyber security systems protect not only the vehicle's software but also the communication between automobiles, connected devices, and the cloud. As a result, it ensures overall automotive data security and prevents intruders from taking control of the vehicle.
Rising government initiatives to incorporate a variety of safety features, including a rear-view camera, automatic braking, lane departure warning system and electronic stability control, have created new opportunities for automobiles cybersecurity service providers worldwide. Furthermore, government mandates for the development of an intelligent transportation system, as well as the introduction of 5G technology, are some of the key factors driving the global demand for automotive cybersecurity solutions.
Such factors are providing lucrative environment for the adoption of automotive cyber security systems in the coming future.
The market in North America for automotive cyber security held the largest market share of 27.6% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. And for automotive cyber security in the Europe, the market share held was around 23.1% in 2022.
|
Automotive Cyber Security Market Size (2023) |
US$ 2,661.7 Mn |
|
Projected Market Value (2033) |
US$ 26,492.6 Mn |
|
Global Market Growth Rate (2023-2033) |
25.8% |
|
Hardware Segment Market Share (2022) |
43.4% |
|
India Market Growth Rate (2022) |
25.4% |
|
Fuel-based Vehicle Segment Market Share (2022) |
62.2% |
FREE Report Sample is Available
In-depth report coverage is now just a few seconds away
Get FREE Report Sample
“Growing Diversity in The Automotive Domain Along with The Rising Complexity of the Security Software”
As there are many different types of cars and many different applications that run inside a car, the diversity in the automobile domain is constantly increasing. Many different suppliers produce automotive solutions, resulting in increased variation and complexity in automobiles cyber security systems. Increased complexity will automatically raise the cost of installation and maintenance of automotive cyber security systems, impeding the growth of the automotive cyber security market.
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized Version“Rising demand for vehicles as a result of the integration of the automobile and ICT sectors”
Increasing demand for effective fleet management system in the region, growing emphasis on achieving an effective cyber security system across all domains and so on. Furthermore, rising demand for vehicles as a result of the integration of the automobile and ICT sectors coupled with the rising awareness of luxury vehicles, automated driving vehicles are some of the key factors exacerbating the adoption of the automotive cyber security in US.
Due to these factors, US is analyzed to dominate the global automotive cyber security market with the share of 18.4% in 2022.
“Increasing awareness regarding the passenger safety rules & strict governmental regulations”
Rising sales of mid-sized and luxury cars, combined with increased awareness of passive and active safety functions, are driving the Indian automotive cybersecurity market. Another important factor driving market growth in this region is the high volume of passenger vehicles produced, together with the growing usage of connected cars and so on.
Due to these factors the automotive cyber security market is estimated to grow at a CAGR of 25.4% over the forecast period in India.
Sales Team
Client Partner
“Rising Adoption of Automated & Luxury Cars along with the Increasing R&D in Automotive Domain”
Germany is one of the most economically significant country in Europe which holds the market share of 10.2% in the European automotive cyber security market. The development of a self-sufficient cloud software connectivity, open-car standard interfaces, mobile cross platforms, and an automotive data taxonomy provide a profitable environment for increased adoption of the automotive cyber security market.
Furthermore, rising R&D to enable smartphone support with infotainment systems for driverless cars is one of the key factors driving market growth in the region. Additionally, rising preferences for the personalized medication is providing lucrative environment for the further expansion of the automotive cyber security market. The share of Europe in the global automotive cyber security market is 12.3%.
Why hardware segment by component Have the Larger Market Share in the automotive cyber security market?
Hardware are used to for the integration of embedded modems & devices with connectivity options, advancements in automotive communication technology led to several technological and the development of vehicle-to-internet communication, short-range communication, V2I, and V2V systems. Such factors are responsible for the share of 43.4% of hardware segment in the automotive cyber security market.
Why fuel-based vehicles have the largest market share in 2022?
Based on the vehicle type the share of fuel-based vehicle in automotive cyber security market hold the largest share of 62.2% in 2022, owing to the factors such as increased demand for connected car services and rising sales of luxury vehicles. The electrical/electronic (E/E) architecture of passenger vehicles is more complex and critical than that of LCVs and HCVs. Passenger vehicles have a higher number of ECUs and are more vulnerable to cyberattacks than the other two vehicle types.
Major automotive cyber security companies are collaborating to accelerate the technological advancements in the development and adoption of the automotive cyber security systems, the demand for cyber security solutions cam differ for countries and industries.
Recent developments related to key players providing automotive cyber security market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
|
Attribute |
Details |
|
Forecast Period |
2023-2033 |
|
Historical Data Available for |
2018-2022 |
|
Market Analysis |
US$ Mn for Value |
|
Key Regions Covered |
|
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Pricing |
Available upon Request |
Component:
Application:
Vehicle:
By Region:
In 2022, the market value of automotive cyber security was US$ 2,143.1 Mn.
The global automotive cyber security market is estimated to advance at an 25.8% CAGR through 2033.
The market for automotive cyber security is forecasted to climb to US$ 26,492.6 Mn by 2033 end.
Demand for Automotive cyber security market in India is projected to rise at a CAGR of 25.4% over the forecast period.
In 2022, the North America Automotive cyber security market held a dominant market share of 27.6%.
