Press Release Description

Growth in Demand for Connected Cars Would Upsurge the Demand for Cyber Security

Automotive cybersecurity market has been continuously evolving in recent years owing to the continuous advancements made in autonomous driving, connected cars, virtualization, and digitalization. The evolution of an intelligent transport system, especially the integration of technology in automobiles, has induced the requirement of safe and secure cyberspace. Growth in the key features such as biometric identification system, real-time vehicle tracking, etc., have further catalyzed the need. Therefore, several venture capitalists have flocked to tap the market potential, playing an anchor role in the proliferation of the market.

According to the MarkNtel Advisors’ research report, Global Automotive Cyber Security Market Analysis, 2020”, the CAGR of the automotive cybersecurity market is expected to be around 22% during 2020-25. North America and Asia-Pacific are expected to be the attractive market for the growth of automotive cybersecurity owing to the expansion of connected cars with the infotainment systems, enhanced wireless-network systems have fueled the sales of connected cars in recent years.

Software-Based Solutions Anticipated to Witness High Growth

Connected vehicles are fully dependent on connected software that increases the need for cybersecurity solutions. To secure the entire IT architecture, data privacy and secure vehicle-to-cloud communications are installed to ensure safety from cyber-attacks. Thus, with the growing demand for connected cars, the demand for cybersecurity would rise.

An increase in the sales of high-end luxury cars is witnessed in recent years. The connected cars provide more interconnectivity capabilities inside the vehicles. These are popularly known as Vehicle to everything connections (V2X). Connected cars are exposed to security risks. Thus, to curb the cyber-attacks-improved visibility, protection schemes and developed incident detection and response strategy are some measures taken by the stakeholders, as revealed by MarkNtel Advisors’ in their research report, “Global Automotive Cyber Security Market Analysis, 2020”

Some venture capitalist companies funding in the automotive cybersecurity market are:

 

According to the MarkNtel Advisors, the major leading players are Honeywell International, Harman International, Robert Bosch Gmbh, Continental AG, Denso Corporation, Aptiv, Vector Informatik Gmbh, Symantec Corporation, Karamba Securities, Trillium Secure among others.

“Global Automotive Cyber Security Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for automotive ventilation seat providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.

Industry Segmentation:
1.    By Form (External Cloud Services and In-Vehicle)
2.    By Electric Vehicle (Plug-in Hybrid Electric Vehicle, Battery Electric Vehicle, and Hybrid Electric Vehicle) 
3.    By Security (Application Security, Cloud Security, End Point Security, Hardware security, Wireless network security, Network security)
4.    By Component (Hardware, Software, Identify Access Management, Security and Vulnerability Management and Services)
5.    By Vehicle (Commercial and Passenger vehicle)
6.    By Application (Advanced Driver Assistance System and Safety System, Body Control and Comfort System, Communication System, Infotainment System, Onboard diagnostic, Power train System, Safety Systems, Telematics System)
7.    By Technology (Consulting, Integration, Managed Security, Unified Threat Management, Other), 
8.    By Region (North America, South America, Europe, Middle East, Africa, and Asia-Pacific)
9.    By Country (United States, Canada, Mexico, Brazil, Argentina, Germany, Italy, United Kingdom, Spain, France, Saudi Arabia, UAE, Qatar, South Africa, China, India, Japan, South Korea, Singapore, Australia, and New Zealand)
10.    By Company (Honeywell International, Harman International, Robert Bosch Gmbh, Continental AG, Denso Corporation, Aptiv, Vector Infomatik Gmbh, Symantec Corporation, Karamba Securities, Trillium Secure)

Key questions answered in the study:
1.    What are the current and future trends of the global automotive cybersecurity market? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    What are the future plans and customer expectations of end-users across the globe? 
4.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
5.    What are the key growth drivers and challenges for the global cybersecurity industry?
6.    What are the customer orientation, purchase behavior, and expectations from global automotive cybersecurity suppliers across various regions?

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