Allied Market Research recently published a report, titled, “Automotive Cybersecurity Market by Offering (Software and Hardware), Security Type (Application Security, Network Security, and Endpoint Security), Application (ADAS & Safety, Body Control & Comfort, Infotainment, Telematics, Powertrain Systems, and Communication Systems) and Form (In-Vehicle and External Cloud Services): Global Opportunity Analysis and Industry Forecast, 2021–2030.” As per the report, the global automotive cybersecurity industry was pegged at $7.23 billion in 2020, and is expected to reach $32.41 billion by 2030, growing at a CAGR of 16.6% from 2021 to 2030.
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Rise in need for automotive cybersecurity, mandatory cybersecurity standards, and government initiatives for implementing connected car technology have boosted the growth of the global automotive cybersecurity market. However, surge in development of common platforms leading to higher risks and challenges in making secure applications hamper the market growth. On the contrary, surge in complexity of car’s electronic systems and improving vehicle security using adaptive security are expected to open new opportunities for the market players in the future.
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North America held the largest share
By region, the market across North America held the lion’s share in 2020, accounting for more than one-third of the global automotive cybersecurity market, due to large-scale sales of connected cars in the region. However, the market across Asia-Pacific would showcase the highest CAGR of 18.0% from 2021 to 2030, owing to the favorable government policies supporting the connected car technology and high security in automobiles against cyber-attacks.
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Major market players
- Aptiv PLC
- Continental AG
- Arilou Automotive Cybersecurity
- Denso Corporation
- Karamba Security
- Harman International
- SafeRide Technologies
- Robert Bosch GmbH
- Vector Informatik GmbH
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