Automotive Cyber Security Market Trends, Analysis & Forecast, 2030

 

As per a recent research report, Automotive Cyber Security Market surpass USD 2 Bn by 2030.

The automotive cybersecurity market is set to register significant growth through 2030 owing to increasing concerns over consumer safety and mobility. Additionally, surging emphasis on reducing the environmental footprint of the automobile sector is likely to further impel industry growth over the forecast timespan.

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Recently, major industry players have been investing in product innovation to improve their business standing, thereby bolstering market expansion. For instance, in July 2022, AUTOCRYPT, a provider of automotive mobility and cybersecurity solutions, received the OCPP 1.6 certification for its "Q Charger", its electric vehicle (EV) charger for smart billing. This Q Charger can charge at a speed of 3.3 kilowatts and is embedded with a 110-240 V charging cable, which can function in all EVs and can be installed into any wall outlet. The OCPP 1.6 certification validated the security, safety, and durability of the charger.

 

The automotive cybersecurity market has been bifurcated in terms of security, application, type, and region.

On the basis of security, the market has been divided into cloud security, network security, hardware security, and software security. The cloud security segment is anticipated to grow at a solid CAGR through the forecast period due to the increasing number of cloud-connected vehicles.

Based on application, the automotive cybersecurity market has been segmented into safety systems, infotainment, communication, on-board diagnostic (OBD), telematics, and others. Among these, the safety systems segment was valued at nearly $110.4 million in 2021 and is expected to grow steadily in the upcoming time period. Safety systems find usage in smart automobiles to help drivers avoid collisions. In the UK, more than 1.5 million consumers buy cars equipped with self-activating safety systems.

Besides, the on-board diagnostic segment is estimated to grow at a CAGR of around 22.5% over the study timeline since these devices are widely used by usage-based insurance providers, fleet managers, and customers. The others segment is poised to grow at approximately 16% CAGR through the forecast timeframe.

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In the regional context, the automotive cybersecurity market in Europe is expected to register substantial gains up to 2030 as major automotive manufacturers are developing connected car technologies to maintain their market position. The Latin America automotive cybersecurity industry is speculated to grow at a CAGR of roughly 23.5% over the analysis time period owing to mounting consumer interest in automated vehicles in the LATAM region.

Meanwhile, the Middle East & Africa automotive cybersecurity market generated a revenue of more than $20.2 million in 2021 and is primed to further grow through 2030 due to prevalent adoption of autonomous vehicles with added safety features.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Automotive cybersecurity industry 360º synopsis, 2018 – 2030

2.2    Business trends

2.3    Regional trends

2.4    Security trends

2.5    Type trends

2.6    Application trends

Chapter 3   Automotive Cybersecurity Industry Insights

3.1    Introduction

3.2    Impact of COVID-19 outbreak

3.2.1    Strategies by key players for regaining pre-COVID-19 growth

3.3    Impact of the Russia Ukraine war

3.4    Industry evolution

3.5    Industry architecture

3.6    Automotive Cybersecurity industry ecosystem analysis

3.6.1    After market suppliers

3.6.2    Security providers

3.6.3    Telematics and communication providers

3.6.4    Service Integrators

3.6.5    End users

3.6.6    Distribution channel

3.6.7    Profit margin analysis

3.6.8    Vendor matrix

3.7    Cybersecurity life cycle for vehicle protection

3.8    Types of automotive cyberattacks

3.9    Connected cars

3.9.1    Connected cars key trends

3.9.2    Connected cars vulnerabilities

3.10    Technology & innovation landscape

3.10.1    AI and ML-based cybersecurity to deal with real-time threats

3.10.2    Use of blockchain technology

3.10.3    Automotive Cloud Technology (ACT)

3.11    Regulatory landscape

3.11.1    Australian Communications and Media Authority (ACMA)

3.11.2    Automobile Association of South Africa (AA South Africa)

3.11.3    Bharat Stage emission standards

3.11.4    Emission Controls Manufacturers Association (ECMA)

3.11.5    European Union Agency for Network and Information Security (ENISA)

3.11.6    Mexican Privacy Law

3.11.7    National Cooperative Highway Research Program (NCHRP)

3.11.8    National Highway Traffic Safety Association (NHTSA)

3.11.9    Safer Journeys Action Plan

3.11.10    The European OBD Standards

3.12    Patent analysis

3.13    Investment portfolio

3.14    Industry impact forces

3.14.1    Growth drivers

3.14.1.1    Increasing requirement for cybersecurity in connected cars

3.14.1.2    Rising collaboration between the automotive and ICT industry

3.14.1.3    Rise in the market or Advanced Driver Assistance System (ADAS)

3.14.1.4    Growing advent of telematics and cellular network in automotive sector

3.14.1.5    Growing partnerships and funding’s for connected cars cybersecurity

3.14.1.6    Improvement in the consumer safety and mobility along with reduction in environment degradation

3.14.2    Industry pitfalls & challenges

3.14.2.1    High initial investment expenses

3.14.2.2    Extended adoption rate in emerging markets due to low consumer acceptance

3.14.2.3    Big data increases complexity

3.15    Growth potential analysis

3.16    Porter’s analysis

3.16.1    Threat of new entrant

3.16.2    Bargaining power of supplier

3.16.3    Bargaining power of buyer

3.16.4    Threat of substitution

3.17    PESTEL analysis

3.17.1    Political

3.17.2    Economical

3.17.3    Social

3.17.4    Technological

3.17.5    Legal

3.17.6    Environmental

 

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