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The Worldwide Automotive Cybersecurity Industry is Expected to Reach $6.2 Billion by 2028 at a 19.9% CAGR

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Dublin, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The "Global Automotive Cybersecurity Market Size, Share & Industry Trends Analysis Report by Application, Security Type, Offering, Form, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The Global Automotive Cybersecurity Market size is expected to reach $6.2 billion by 2028, rising at a market growth of 19.9% CAGR during the forecast period.

Driver preferences and desires are changing quickly. Vehicles and the industry as a whole are changing to satisfy consumer aspirations for individualized experiences. Increased personalization and connectivity lead to more software, which increases risk. Similar to how smartphones and smart appliances operate, connected cars can share the internet as well as wireless network access with other cars and external devices.

They are capable of transmitting and receiving data. Greater functions and capabilities are already being provided by new software to satisfy the demands and expectations of drivers. In such cases, automotive cybersecurity is essential and ought to be considered during the forecast period.

The market for automotive cybersecurity is anticipated to develop as a result of factors like rising demand for automotive cybersecurity, government attempts to integrate connected car technologies, and the imposition of obligatory cybersecurity requirements. Additionally, it is anticipated that the use of adaptive security to improve vehicle security and the increasing complexity of cars' electronic systems would present in future years.

COVID-19 Impact Analysis

In order to curb the effect of COVID-19 pandemic, governments across the globe were obliged to impose stringent lockdowns as well as mandate social seclusion.

As a result, there was a sharp decline in the market for new cars. Additionally, the raw material supply was reduced, there was a slowdown in manufacturing, and supply systems around the world were disrupted. The adoption of cutting-edge cybersecurity systems has been hampered by the losses experienced by the car industry.

The usage of automotive cybersecurity solutions, however, is anticipated to rise with time due to increased demand for connected automobiles and the continuous immunization campaign that is taking place across the globe.

Market Growth Factors

The rise in automotive cybersecurity needs

The automobile business is changing as a result of the increased connectivity of vehicles to everything, including traffic lights, parking meters, other vehicles, and much more.

Advanced technologies are used throughout, including shared mobility, self-driving cars, electrified vehicles, and advanced driver assistance systems (ADAS). In addition to improving comfort and safety on the roadways, these technologies also expose this complex and dynamic environment to cyberattacks.

Attack points grow as the ecosystem becomes more interconnected, revealing new weaknesses that hackers could exploit to endanger car safety, user privacy, and the integrity of automotive data. This increasing need for security against the rising number of connected cars cyberattacks, is anticipated to fuel the expansion of the automotive cybersecurity market over the course of the projected period.

Increasing Car Security by Making Use of Adaptive Security

A cybersecurity technology called adaptive security examines actions and occurrences to stop and prepare for threats before they happen.

An adaptive security architecture can be used by a company to give proportional enforcement that can be turned up or down while continuously analyzing risk.

It is simpler to defend a scattered workforce with adaptive security, which many automotive manufacturers lack throughout their operations. Therefore, during the projected period, these elements in the automobile industry are anticipated to fuel market growth.

Market Restraining Factors

Differences in pricing tactics between stakeholders

The entire ecology of the automotive business is shifting due to the advent of additional services like E-calls, multimedia streaming, and remote diagnostics in connected cars. The automotive ecosystem has changed from being fixed to being dynamic, with a share of revenue is accounted for by each actor. The existence of numerous stakeholders has made the pricing model in the linked ecosystem difficult to implement.

Managing the complexity and cost of various pricing strategies is a challenge for many businesses. Software firms currently use multiple pricing models to generate income. According to specialists in the field, cybersecurity solution providers struggle to apply the best pricing plan in a variety of situations in order to increase income and reduce potential loss.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Strategies Deployed in Automotive Cybersecurity Market

Chapter 4. Global Automotive Cybersecurity Market by Application
4.1 Global Communication Systems Market by Region
4.2 Global Telematics Market by Region
4.3 Global Infotainment Market by Region
4.4 Global ADAS & Safety Market by Region
4.5 Global Body Control & Comfort Market by Region
4.6 Global Powertrain Systems Market by Region

Chapter 5. Global Automotive Cybersecurity Market by Security Type
5.1 Global Application Security Market by Region
5.2 Global Endpoint Security Market by Region
5.3 Global Network Security Market by Region

Chapter 6. Global Automotive Cybersecurity Market by Offering
6.1 Global Software Market by Region
6.2 Global Hardware Market by Region

Chapter 7. Global Automotive Cybersecurity Market by Form
7.1 Global In-Vehicle Market by Region
7.2 Global External Cloud Services Market by Region

Chapter 8. Global Automotive Cybersecurity Market by Region

Chapter 9. Company Profiles
9.1 Robert Bosch GmbH
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent strategies and developments:
9.1.5.1 Acquisition and Mergers:
9.1.6 SWOT Analysis
9.2 Continental AG
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
9.2.5.1 Partnerships, Collaborations, and Agreements:
9.2.6 SWOT Analysis
9.3 Denso Corporation
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Regional Analysis
9.3.4 Research & Development Expense
9.3.5 Recent strategies and developments:
9.3.5.1 Acquisition, Mergers and Joint Ventures:
9.4 Aptiv PLC
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent strategies and developments:
9.4.5.1 Acquisition and Mergers:
9.5 Harman International Industries, Inc. (Samsung Electronics Co., Ltd.)
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent strategies and developments:
9.5.5.1 Partnerships, Collaborations, and Agreements:
9.5.6 SWOT Analysis
9.6 Vector Informatik GmbH
9.6.1 Company Overview
9.6.2 Recent strategies and developments:
9.6.2.1 Acquisition and Mergers:
9.7 Arilou Information Security Technologies Ltd. (NNG Group)
9.7.1 Company Overview
9.8 GuardKnox Cyber Technologies Ltd.
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Partnerships, Collaborations, and Agreements:
9.9 Karamba Security Ltd.
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Partnerships, Collaborations, and Agreements:
9.9.2.2 Product Launches and Product Expansions:

For more information about this report visit https://www.researchandmarkets.com/r/4t11nk

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