Automotive Cybersecurity Market Outlook 2024-2033: Trends and Projections

The automotive cybersecurity global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Automotive Cybersecurity Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The automotive cybersecurity market size has grown rapidly in recent years. It will grow from $2.37 billion in 2023 to $2.82 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. The growth in the historic period can be attributed to increased adoption of connected and autonomous vehicles, stringent government regulations and industry standards , growing demand for advanced driver assistance systems (adas), increasing demand for luxury vehicles, rise in the number of cyber threats targeting automotive systems.

The automotive cybersecurity market size is expected to see rapid growth in the next few years. It will grow to $5.63 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to growth in the adoption of electric vehicles, integration of 5g technology in connected vehicles, expanding the attack surface, increasing reliance on over-the-air (ota) software updates, expansion of the automotive industry in emerging markets, rise in awareness and investments in proactive cybersecurity measure. Major trends in the forecast period include development of integrated cybersecurity solutions, emphasis on secure vehicle-to-everything (v2x) communication, use of blockchain technology for secure data sharing, collaboration between automakers and cybersecurity firms for threat intelligence, implementation of behavior-based anomaly detection for real-time threat identification.

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Scope Of Automotive Cybersecurity Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers –

The increase in the number of connected cars is significantly contributing to the growth of the automotive cybersecurity market going forward. A connected car refers to a vehicle that can access the internet through an inbuilt connectivity system. Cyber security in connected cars includes features such as the call for sophisticated threat intelligence, which helps to prevent cars from common security problems. For instance, in June 2021, according to Express Drive, an India-based automobile news provider, in India, more than 350 million connected cars are expected to hit the road by the year 2023 which is almost 24% of all cars worldwide. Therefore, the increase in the number of connected cars is driving the growth of the automotive cybersecurity market.

Market Trends –

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

The automotive cybersecurity market covered in this report is segmented –

1) By Security Type: Network Security, Application Security, Endpoint Security, Wireless Security, Cloud Security
2) By Form: In-Vehicle, External Cloud Service
3) By Vehicle: Passenger Car, Commercial Vehicle
4) By Application: Telematics System, Body Control and Comfort System, Infotainment System, Powertrain System, Other Applications

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Regional Insights –

North America was the largest region in the automotive cybersecurity market in 2023. The regions covered in the automotive cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Key Companies –

Major companies operating in the automotive cybersecurity market report are Aptiv PLC, Argus Cyber Security, Arilou Technologies, Continental AG, ESCRYPT GmbH, GuardKnox Cyber Technologies Ltd., Harman International Industries Inc., Trillium Secure Inc., SafeRide Technologies Ltd., Lear Corporation, Karamba Security, Intel Corporation, Infineon Technologies AG, Cisco Systems Inc., Delphi Technologies PLC, Vector Informatik GmbH, Symantec Corporation, Regulus Cyber, C2A Security Ltd., XShield Ltd., Apriori Technologies Inc., AutoCrypt Co Ltd., Idaptive Automotive Cybersecurity, GuardSquare NV, Altimetrik Corp., Identiq Automotive Ltd., Guardtime AS, ForgeRock Automotive, AutomotiveCyber GmbH, Thales Group, NXP Semiconductors NV, Green Hills Software

Table of Contents
1. Executive Summary
2. Automotive Cybersecurity Market characterstics
3. Automotive Cybersecurity Market Trends And Strategies
4. Automotive Cybersecurity Market – Macro Economic Scenario
5. Global Automotive Cybersecurity Market Size And Growth
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31. Global Automotive Cybersecurity Market Competitive Benchmarking
32. Global Automotive Cybersecurity Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Cybersecurity Market
34. Automotive Cybersecurity Market Future Outlook and Potential Analysis
35. Appendix

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