Bharat Book Bureau Provides the Trending Market Research Report on “Automotive Cybersecurity Market by Form (In-Vehicle, External Cloud Services), Offering (Hardware & Software), Security, Application Type, Vehicle Type, Propulsion, Vehicle Autonomy, Approach, EV Application, and Region - Global Forecast to 2026”under Automotive Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
The global Automotive Cybersecurity Market size is projected to grow from USD 2.0 billion in 2021 to USD 5.3 billion by 2026, at a CAGR of 21.3%. Increasing demand for connected vehicles and safety features has increased the electronic content per vehicle. This raised the vulnerability of a vehicle against a cyber-attack, which resulted in recall of vehicles by the reputed automakers in the recent past. Thereby, the demand for automotive cybersecurity solutions are growing at a rapid pace all over the world. Moreover, launch UNECE WP.29 mandate and “Auto Data” regulation in China are also expected to bolster the growth of automotive cybersecurity market in the coming years globally.
COVID-19 pandemic had significant impact on the market in the first few months in 2020. Both the demand and supply of automotive vehicles and components had come to a halt in the first few months of 2020 across the globe as the whole ecosystem had been disrupted. However, in 2021 the sales and production of vehicle has increased at a rapid pace but due to chip shortage incidence the vehicle production again got affected from the third quarter. Moreover, as per industry experts it is expected that this situation will continue till the third quarter of 2022, after then things will again come on track. Apart from this, the spread of the new variant of COVID-19, i.e., Omicron is expected to lead to the reimposition of nationwide lockdowns. This may hamper the market demand in the coming years.
The automotive cybersecurity market, however, is expected to witness a significant boost in 2022 owing to the increase in vehicle production in different countries, launch of UNECE WP.29 regulation as well as various government regulations that have compelled automotive OEMs to install additional safety systems in vehicles for better safety.
Wireless network security are estimated to grow at a higher CAGR during the forecast period
The wireless network security segment is expected to be the fastest-growing security type segment of the automotive cybersecurity market. This segment is expected to witness significant growth in Asia Pacific, followed by Europe and North America. Transportation authorities in these regions are focusing on improving infrastructure. Startups are focusing on providing wireless network services in order to cater to the growing connectivity features in automotive.
Overall, the incorporation of wireless technologies in vehicles by respective automotive manufacturers, increasing focus towards connected vehicle technology, and rising security concerns to prevent remote access to vehicle electronics are key factors anticipated to augment projected revenues for the wireless network security solution during the forecast period.
ADAS & safety system are expected to dominate the automotive cybersecurity market during the forecast period
The ADAS & safety segment is expected to dominate the automotive cybersecurity market during the forecast period. ADAS comprises ECUs/DCUs utilized to control airbags, collision warning, and tire pressure systems. The market growth in this segment is largely driven by the growing incorporation of ECUs/DCUs that control ADAS and related functionality. Government mandates and increasing awareness about vehicle safety are also expected to fuel the demand for ADAS & safety systems across the globe. Europe and North America are estimated to witness significant demand for ADAS and safety systems. Regulatory bodies of the EU have mandated forward-collision warning systems and autonomous emergency braking systems in all new vehicles by 2022. Regulatory bodies in the US are also encouraging OEMs to make forward-collision warning systems and autonomous emergency braking systems standard features in all their new vehicles by the end of 2022. The government of India also plans to make ADAS features such as Electronic Stability Control (ESC) and Autonomous Emergency Braking (AEB) mandatory for all passenger cars by 2022-23. Therefore, government mandates, along with the increasing awareness of vehicle safety, are expected to fuel the demand for ADAS & safety systems. Thereby, the demand for automotive cybersecurity solutions are also expected to grow at a rapid pace during the forecast period globally.
Asia Pacific shows high growth potential for automotive cybersecurity market
Asia Pacific is projected to dominate the global automotive cybersecurity market during the forecast period. The region is the largest producer of vehicles across the globe. China is expected to be the most market in the Asia Pacific automotive cybersecurity market in terms of value. The large market share of China can also be attributed to the high sales of the Mercedes-Benz E-Class, which is equipped with V2X, especially V2C and V2I. Also, the increasing adoption of electric vehicles will result in the increased demand for V2X technologies, such as V2P and V2G, which are quite suitable for electric vehicles. Moreover, growing norms for passive vehicle safety and vehicle emission would boost the market for automotive control units in the next few years. This is expected to create opportunities for stakeholders in the automotive cybersecurity ecosystem. All these factors will make Asia Pacific a leader in the global automotive cybersecurity market during the forecast period.
In-depth interviews were conducted with CEOs, marketing directors, sales managers, and executives from various key organizations operating in the automotive cybersecurity market. The break-up of the primaries is as follows:
•By Company Type: Automotive Cybersecurity Solution Providers – 40%, OEMs – 20%, Tier 1 –20%, and Tier 2 – 20%,
•By Designation: C Level Executives – 23%, Manager – 43%, and Others – 34%
•By Region: Europe – 30%, Asia Pacific – 25%, North America – 25%, and RoW – 20%
The automotive cybersecurity market comprises major manufacturers such as Continental AG (Germany), Robert Bosch GmbH (Germany), Harman International (US), DENSO Corporation (Japan), Aptiv PLC (Ireland), Garrett Motion Inc. (Switzerland), Renesas Electronics Corporation (Japan), Karamba Security (Israel), SafeRide Technologies (Israel), Arilou Technologies (Israel), GuardKnox Cyber Technologies Ltd. (Israel), Upstream Security Ltd. (Israel), etc.
Research Coverage:
The study covers the automotive cybersecurity market across various segments. It aims at estimating the market size and future growth potential of this market across different segments such as application type, offering, form type, security type, vehicle type, propulsion type, vehicle autonomy, electric vehicle application type, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and acquisitions.
Key Benefits of Buying the Report:
•The report will help leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall automotive cybersecurity market.
•This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
•The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Browse our full report with Table of Content : https://www.bharatbook.com/report/1289142/automotive-cybersecurity-market-by-form-in-vehicle-external-cloud-services-offering-hardware-software-security-application-type-vehicle-type-propulsion-vehicle-autonomy-approach-ev-application-and-region-global-forecast-to
About Bharat Book Bureau:
Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 15,00,000 reports and insights that includes latest Market Study, Market Trends & Analysis, Forecasts Customized Intelligence, Newsletters and Online Databases. Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors.
Contact us at:
Bharat Book Bureau
Tel: +91 22 27810772 / 27810773
Email: [email protected]
Website: www.bharatbook.com