Global External Cloud Automotive Cyber Security Services Market Size and Forecast 2024-2033|Harman International Industries, Continental AG, Denso Corporation, Aptiv PLC

The External Cloud Automotive Cyber Security Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s External Cloud Automotive Cyber Security Services, The external cloud automotive cyber security services market size has grown rapidly in recent years. It will grow from $2.23 billion in 2023 to $2.5 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to proliferation of connected vehicles and in-car connectivity, increased complexity and sophistication of automotive cyber threats, regulatory initiatives focusing on cybersecurity in the automotive industry, growing awareness of cybersecurity risks in the automotive sector, rise in the number of cyberattacks targeting automotive systems.

The external cloud automotive cyber security services market size is expected to see rapid growth in the next few years. It will grow to $4.07 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to expansion of the electric and autonomous vehicle market, continued development of over-the-air (ota) software updates, adoption of cloud-based platforms for vehicle data storage and processing, increasing collaboration between automotive manufacturers and cybersecurity service providers, rising number of cyber threats targeting modern vehicles. Major trends in the forecast period include emergence of ai and machine learning in automotive cybersecurity, growing demand for real-time threat intelligence and monitoring, focus on end-to-end encryption for in-vehicle and cloud communication, development of blockchain-based security solutions for automotive data, integration of cybersecurity as a key component in overall vehicle design and development.

The rising number of connected cars is expected to propel the growth of the external cloud automotive cyber security services market going forward. A connected car is a vehicle that can access the internet to connect with other vehicles through an inbuilt connectivity system. The number of connected cars and cars with smart connectivity features has been increasing recently. These cars can access the internet, but they are also vulnerable to cyber-attacks and therefore need cyber security services. For instance, according to the connected cars report by the Internet of Business, a UK-based technology news provider, the number of connected cars is expected to increase by 270% to 125 million cars in 2022. Therefore, the rising number of connected cars is driving the demand for the external cloud automotive cyber security services market growth.

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The external cloud automotive cyber security services market covered in this report is segmented –

1) By Security: Endpoint Security, Application Security, Wireless Network Security

2) By Electric Vehicle Type: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle

3) By Vehicle Type: Passenger Car, Commercial Vehicle

4) By Application: Telematics System, Infotainment System, Powertrain System, Body Control And Comfort System, Communication System, ADAS And Safety System

Technological advancement is a key trend gaining popularity in the external cloud automotive cyber security services market. The players in the market are constantly innovating and incorporating new technologies to lead the market. For instance, in March 2022, Wipro, an India-based information technology company, launched a Cloud Car platform equipped with an end-to-end cybersecurity system. With this, car manufacturers can address software failures via over-the-air updates. The platform will decouple previously integrated hardware and software, enabling manufacturers to upgrade software at scale.

The external cloud automotive cyber security services market report table of contents includes:

1. Executive Summary

2. External Cloud Automotive Cyber Security Services Market Characteristics

3. External Cloud Automotive Cyber Security Services Market Trends And Strategies

4. External Cloud Automotive Cyber Security Services Market – Macro Economic Scenario

5. Global External Cloud Automotive Cyber Security Services Market Size and Growth

26. South America External Cloud Automotive Cyber Security Services Market

27. Brazil External Cloud Automotive Cyber Security Services Market

28. Middle East External Cloud Automotive Cyber Security Services Market

29. Africa External Cloud Automotive Cyber Security Services Market

30. External Cloud Automotive Cyber Security Services Market Competitive Landscape And Company Profiles

Top Major Players: