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Automotive Cyber Security Market – Growth, Future Prospects & Competitive Landscape, 2018 – 2026

Published: | Report ID: 3405 | Report Format : PDF

Market Insights

With the increasing use of advanced electronics, automotive vehicles are now built with numerous sensors and control units for systems ranging from steering, braking, and headlights. Furthermore, as more vehicles become connected, cyber-attacks have emerged as a significant cyber-security threat. This has posed a significant challenge for automotive manufacturers and adjacent technology providers, thereby creating a wide array of opportunities for cybersecurity solutions. Automotive cyber security refers to solutions designed to protect vehicles at high risk of cyberattacks, such as connected passenger vehicles, VIP vehicles, police vehicles, defense vehicles, and others. Automotive electrical components such as sensors, control units, lighting, steering, engines, and other drive-in parts are connected by means of an internal network. Hackers would be able to take control of various critical components, such as engines and brakes if they gained access to such a peripheral electronic control unit (ECU).

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With a consistently growing automotive industry and the introduction of the concept of IoT, connected cars are set to exhibit high growth in the following years. As connected cars become more vulnerable to cyber-attacks, there will be a high demand for related cybersecurity solutions. Due to the current lack of security, hackers are becoming more adept at carrying out cyber-attacks on connected vehicles more easily and cheaply. Thus, automotive companies are now working closely with software security companies to design effective cybersecurity for connected vehicles.

Some of the major instances are listed below:

  • BMW Group, Intel Corporation, Mobileye, an Intel company, and Fiat Chrysler Automobiles signed a memorandum of understanding on June 16, 2016, to join them in developing an autonomous driving platform.
  • BMW announced its alliance with Aptiv PLC in January 2018 for eight BMW 5 Series sedans equipped with automated driving technology.
  • The Renault-Nissan Alliance and Microsoft Corporation signed a global agreement in September 2016 to partner on next-generation technologies to advance connected driving experiences worldwide.
  • Ericsson announced its collaboration with Zenuity, an automotive software joint venture between Autoliv and Volvo Car Corporation, to develop an end-to-end platform for connected safety on June 14, 2014.

Apart from external communications, a connected vehicle also features internal communications for internal module functioning. Thus, it becomes crucial to secure these modules to ensure the seamless functioning of vehicles. In order to address these concerns, technology companies are working together to detect and provide solutions to the cyber security problem in the automotive industry. For instance, in January 2018, Honeywell International, Inc. and LG Electronics, Inc. signed a memorandum of understanding (MoU) in order to work towards developing new automotive software and infrastructure solutions to address issues pertaining to the security threat associated with connected vehicles.

North America is the largest market for automotive cyber security solutions and is set to retain its position in the market over the forecast period. The U.S. is among the largest markets for connected cars, making it the most prominent market for related cybersecurity solutions. With the increasing penetration of overall IoT services, Asia Pacific is set to emerge as the next big market for connected cars. Subsequently, the region would register the highest growth rate for automotive cyber security solutions in the following years.

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The global automotive cyber security market is segmented on the following basis:

  • By Vehicle Type
    • Passenger Cars
    • Light Commercial Vehicles (LCVs)
    • Heavy Commercial Vehicles (HCVs)
  • By Type
    • Software-based
    • Hardware-based
    • Services

Key players identified in the automotive cyber security market include, but are not limited to:

Cisco Systems, Inc., Argus Cyber Security Ltd., Harman International Industries, Inc., Intel Corporation, ESCRYPT-Embedded Security, SBD Automotive, BT Group plc, NXP Semiconductors NV, Trillium Software, Secunet Security Networks AG, Security Innovation, Inc., and Utimaco GmbH

Frequently Asked Questions:

What is the size of Automotive Cyber Security Market?

The market for Automotive Cyber Security Market is expected to reach US$ XX Mn By 2026.

What is the Automotive Cyber Security Market CAGR?

The Automotive Cyber Security Market is expected to see significant CAGR growth over the coming years, at XX%.

What is the Forecast period considered for Automotive Cyber Security Market?

The report is forecasted from 2018-2026.

What is the base year considered for Automotive Cyber Security Market?

The base year of this report is 2017.

Who are the major players in this market?

Cisco Systems, Inc., Argus Cyber Security Ltd., Harman International Industries, Inc., Intel Corporation, ESCRYPT-Embedded Security, SBD Automotive, BT Group plc, NXP Semiconductors NV, Trillium Software, Secunet Security Networks AG, Security Innovation, In are some of the major players in the global market.

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