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Automotive Cybersecurity Market Research Report: By Application, Vehicle Type, Form - Global Industry Analysis and Growth Forecast to 2030

·2-min read

Automotive Cybersecurity Market Research Report: By Application (ADAS & Safety System, Infotainment, Body Electronics, Powertrain, Telematics), Vehicle Type (Passenger Cars, Commercial Vehicles), Form (In-Vehicle Services, External Cloud Services)- Global Industry Analysis and Growth Forecast to 2030

New York, Nov. 03, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Automotive Cybersecurity Market Research Report: By Application, Vehicle Type, Form - Global Industry Analysis and Growth Forecast to 2030" -

The integration of AI is increasing in the automotive industry, and the technology is the major driving factor behind the development of level 4 and 5 autonomous cars. Because of the availability of connected services and devices, it has become incredibly easy to collect vehicular data. The collected data, however, must be stored safely and utilized only for in-vehicle systems. Since the data may be vulnerable to cyber-attacks, the adoption of security and safety solutions in the automotive industry is expected to increase.
The automotive cybersecurity market reached a value of $7,280.2 million by 2030, increasing from $1,152.7 million in 2019, advancing at an 18.5% CAGR during the forecast period (2020–2030). In terms of application, the market is divided into telematics, advanced driver-assistance systems (ADAS) and safety system, powertrain, infotainment, and body electronics. Out of these, the infotainment division dominated the market in 2019, since consumers can connect their smartphone with the infotainment system for accessing features through their phones, in-vehicle cybersecurity solutions are needed for safeguarding consumer data.
In the automotive cybersecurity market, the Asia-Pacific region is expected to progress at the fastest pace during the forecast period, as the region is home to largest market for automobiles. Recently, the region has emerged as the hub for the production of automobiles. In addition to this, the adoption of connected vehicles in the region has increased significantly, which is resulting in the increasing demand for automotive cybersecurity security and safety.
In conclusion, the rising penetration of AI, increasing number of cyber threats, and growing adoption of connected technology are leading to the growth of the market.
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