The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The automotive cybersecurity market has witnessed rapid growth in recent years, driven by factors such as increased adoption of connected and autonomous vehicles, stringent regulations, and rising cyber threats targeting automotive systems. As the automotive industry continues to evolve, cybersecurity measures become increasingly critical to ensure the safety and integrity of vehicle systems and data.

Historic Growth and Market Outlook

• The market size surged from $2.37 billion in 2023 to $2.82 billion in 2024, with a remarkable CAGR of 19.0%.
• Contributing factors include the proliferation of connected vehicles, government regulations, and the growing demand for advanced driver assistance systems (ADAS).
• Projections indicate continued robust growth, with the market expected to reach $5.63 billion by 2028, boasting a CAGR of 18.8%.

Rise in Connected Cars Fuels Market Expansion

• The increase in connected cars significantly drives the growth of the automotive cybersecurity market.
• Connected cars, accessing the internet through inbuilt connectivity systems, require sophisticated threat intelligence to mitigate security risks.
• India, for instance, anticipates over 350 million connected cars by 2023, contributing substantially to market expansion.

Technological Innovations Shape Market Trends

• Technological innovations emerge as a key trend in the automotive cybersecurity market, with companies focusing on sustaining their competitive edge.
• Tesla’s launch of Vehicle-to-everything (V2X) technology based on 5G technology exemplifies innovation in the sector.
• V2X facilitates authenticated data transmission between vehicles and infrastructure, enhancing automotive cybersecurity measures.

Strategic Acquisitions Strengthen Market Position

• LG Electronics’ acquisition of Cybellum underscores the strategic consolidation within the automotive cybersecurity market.
• The acquisition bolsters LG Electronics’ cybersecurity capabilities and facilitates entry into new markets.
• Cybellum’s expertise in detecting and assessing connected vehicle cybersecurity enhances LG Electronics’ offerings and market reach.

Market Segmentation and Regional Dynamics

• The market is segmented based on security type, form, vehicle, and application, reflecting its diverse landscape.
• Security types include network security, application security, endpoint security, wireless security, and cloud security.
• North America emerged as the largest region in the automotive cybersecurity market in 2023, driven by technological advancements and regulatory compliance.

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The Automotive Cybersecurity Global Market Report 2024  provides an overview of the automotive cybersecurity market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive cybersecurity market forecast analyzes automotive cybersecurity market size, automotive cybersecurity market share, leading competitor and their market positions.

The Table Of Content For The Automotive Cybersecurity Market Include:
1. Automotive Cybersecurity Market Executive Summary
2. Automotive Cybersecurity Market Segments
3. Automotive Cybersecurity Market Size And Automotive Cybersecurity Market Growth Rate
4. Key Automotive Cybersecurity Market Trends
5. Major Automotive Cybersecurity Market Drivers
……
25. Key Mergers And Acquisitions In The Automotive Cybersecurity Market
26. Top Automotive Cybersecurity Companies
27. Automotive Cybersecurity Market Opportunities And Strategies
28. Automotive Cybersecurity Market, Conclusions And Recommendations
29. Appendix

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