Overview:
The global report onthe automotivecyber security market is slated to cross USD 32 million after achieving aCAGR of 9% during the forecast period of 2018 to 2023. Market Research Future(MRFR) made a comprehensive analysis of the market to understand factors thatcan bolster this growth. Among these, the rising demand for personal vehicles,better integration of technologies, hike in research-related investment,growing demand for smart cars and threats associated with it, and others areexpected to bolster the market.
However, thesetechnologies are expensive and high-end cars are mostly equipped with suchtechnologies, which shows the market’s growth capacity is pretty limited.
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Segmentation:
The global study ofthe automotive cyber security market has been segmented by MRFR analysts on thebasis of security type, vehicle type, and application. These three segmentswould provide data, gleaned by experts, to help in developing tacticalmechanisms that can inspire trends and affect the market outcome.
By security type, theglobal understanding of the automotive cyber security market has been segmentedinto network security, application security, endpoint security, cloud security,and wireless security.
By vehicle type, thestudy of the automotive cyber security market includes passenger cars andcommercial cars. Due to personal safety preferences, the passenger segment mayrecord substantial growth.
By application, thereport on the automotive cyber security market comprises segments liketelematics, onboard diagnostics (OBD), communication channels, infotainment,powertrain, safety systems, and others,
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RegionalAnalysis:
North America isslated to emerge as the leader in the automotive cyber security market. This isdue to the inclusion of advanced technical support for cyber security in theautomotive industry.
CompetitiveLandscape:
Harman InternationalIndustries, Inc. (U.S.), Argus Cyber Security (Israel), Intel Corporation(U.S.), Cisco Systems Inc. (U.S.), Karamba Security (Israel), Intel Corporation(U.S.), NNG Software Developing And Commercial Llc. (Hungary), Escrypt EmbeddedSystems (Germany), NXP Semiconductors N.V. (Netherlands), Secunet AG (Germany),and others influence the global market for automotive cyber security. Thesecompanies undertake various strategic moves to make sure the market profits. Intheir attempts, they include various measures that give way to understandingrelated to trends and prospects.
IndustryNews:
In August 2020, GreenHills Software, a company known across the world as a provider of embedded safetyand security, and Argus Cyber Security, a company with a substantial reputationin automotive cybersecurity, announced the membership of the latter into theGreen Hills ecosystem of top-notch technology providers. The partnership is nowexpected to get support from a successful automotive customer collaborationwhere the Argus Control Flow Integrity product has been integrated to work withGreen Hills Software’s best-in-class C/C++ compiler.
In August 2020,Cybellium, an Israeli automotive cybersecurity risk assessment startup,announced that it had raised a $12 million Series A round. This financing roundwas led by RSBG Ventures GmbH where other investments came from Cybellum’sexisting investors, Blumberg Capital and Target Global. This investment willhelp Cybellum to boost growth through marketing, expanded sales, andengineering programs. This will also enable the adoption of Cybellum’s RiskAssessment platform and Digital Twin approach by industries where they would beable to scale vulnerability management operations.
This growth in theautomotive cyber security market may find some slump due to the fall inautomotive sales triggered by the COVID-19 pandemic. However, the restoring ofthe financial state in various countries can bring back the market on its footafter some initial hiccups.
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About MarketResearch Future:
Market ResearchFuture (MRFR) is a global market research firm that takes great pleasure in itsservices, providing a detailed and reliable study of diverse industries andconsumers worldwide. MRFR's methodology integrates proprietary information withdifferent data sources to provide the client with a comprehensive understandingof the current key trends, upcoming events, and the steps to be taken based onthose aspects.
Our rapidly expandingmarket research company is assisted by a competent team of research analystswho provide useful analytics and data on technological and economicdevelopments. Our deemed analysts make industrial visits and collect valuableinformation from influential market players. Our main goal is to keep ourclients informed of new opportunities and challenges in various markets. Weoffer step-by-step assistance to our valued clients through strategic and consultingservices to reach managerial and actionable decisions.
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