The automotive cybersecurity market is expected to record a valuation of USD 2 billion by 2030, as reported in a research study by Global Market Insights Inc. Rising concerns toward reducing the environmental impact coupled with the increasing focus on improving consumer safety and mobility may drive the industry expansion. The recent advancements in the automobile sector have fostered the adoption of crash avoidance technologies that play a critical role in minimizing crash injury risk and offering enhanced pedestrian protection.
The inclusion of big data may emerge as a prominent growth restraining factor for automotive cybersecurity market. The integration of IoT and ICT in vehicle manufacturing has led to an exponential rise in real-time data whose maintenance may lead to data loss and increase the risk of cyberattacks.
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The cloud security segment is predicted to observe above 27% growth rate through 2030. The growth could be attributed to the increasing deployment of cloud-based applications in the light of the COVID -19 pandemic and the emerging automation and digitization trends in the automobile sector.Cloud-connected vehicles and cloud-based services have witnessed an unprecedented rise in recent years due to their capability to offer real-time intelligence and updates.
The commercial vehicle segment is poised to witness at a CAGR of over 24.3% during 2022 to 2030.The increasing demand for commercial cargos and fleets during the course of the pandemic supported the segment expansion. The growing utilization of these vehicles triggered the need for significant advancements in vehicle technologies.
The automotive cybersecurity market size from the telematics application valued at nearly USD 80.9 million in 2021 and is set to register further progression in the coming years as well. Telematics solutions incorporate advanced capabilities such as prompt roadside assistance during vehicle breakdowns or accidents, real-time traffic updates, insurance telematics, automatic toll collection, and smart routing & tracking. These capabilities make them an essential part of connected vehicles. With the sales of connected vehicles observing an upward trend, the telematics application is likely to depict considerable growth through 2030.
The Europe automotive cybersecurity market is estimated to attain 19.8% gains between 2021 and 2030. Europe is an emerging hub for connected car technologies owing to the presence of some of the leading automobile manufacturers in the region. Automotive giants such as BMW, Bosch, Volkswagen, Renault, and Daimler have manufacturing facilities across Europe, which will help the regional industry gain a competitive share in the market.Besides, increasing autonomous vehicle sales due to improving living standards will further support regional growth.
The competitive landscape of the automotive cybersecurity market includes players such as Argus Cyber Security Ltd, Arilou Technologies Ltd, AT&T Inc., Audi AG, Bayerische Motoren Werke (BMW) AG, BT Group (BT Security), Capio, Inc., Cisco Systems, Inc., Cognata, Continental AG, Daimler AG, Ford Motor Company, General Motors, Honda Motor Company Ltd, Hyundai Motor Company, Intel Corporation, Karamba Security, Lear Corporation, Nebula Systems, Ltd, Nissan Motor Corporation, Symantec Corporation, Tesla Inc., TriLumina Corporation, Volkswagen AG and Volvo Group. These companies are mainly involved in new product developments and product range expansion to strengthen their position.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Automotive cybersecurity market 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
3.2 Impact of COVID-19 outbreak
3.3 Impact of the Russia Ukraine war
3.4 Industry evolution
3.5 Industry architecture
3.6 Automotive Cybersecurity industry ecosystem analysis
3.7 Cybersecurity life cycle for vehicle protection
3.8 Types of automotive cyberattacks
3.9 Connected cars
3.10 Technology & innovation landscape
3.11 Regulatory landscape
3.12 Patent analysis
3.13 Investment portfolio
3.14 Industry impact forces
3.14.1 Growth drivers
3.14.2 Industry pitfalls & challenges
3.15 Growth potential analysis
3.16 Porter’s analysis
3.17 PESTEL analysis