Comprehensive External Cloud Automotive Cyber Security Services Market Analysis 2024: Size, Share, And Key Trends
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
As per The Business Research Company’s External Cloud Automotive Cyber Security Services Global Market Report 2024, the external cloud automotive cyber security services market is expected to show significant growth in the forecast period.
The external cloud automotive cybersecurity services market has experienced significant growth, indicating a shift in automotive security strategies and priorities.
- Rapid growth from $2.23 billion in 2023 to $2.5 billion in 2024, with a projected CAGR of 12.0%.
- Factors contributing to this growth include the proliferation of connected vehicles, increased sophistication of cyber threats, and regulatory initiatives focusing on automotive cybersecurity.
Looking Ahead: Future Projections
The market is poised for continued expansion, with forecasts suggesting robust growth in the coming years.
- Expected growth to $4.07 billion by 2028, with a projected CAGR of 13.0%.
- Factors such as the rise of electric and autonomous vehicles, the development of over-the-air (OTA) software updates, and increasing collaboration between manufacturers and cybersecurity providers are driving this growth.
Growing Connected Car Market Fuels Demand For External Cloud Automotive Cyber Security Services
The surge in connected cars is a significant driver for the demand in automotive cybersecurity services.
- Connected cars, accessing the internet and other vehicles, are vulnerable to cyber threats.
- The number of connected cars is expected to increase by 270% to 125 million cars by 2022, according to reports.
Industry Players and Market Landscape
Several prominent companies are shaping the landscape of external cloud automotive cybersecurity services.
- Major players include Harman International Industries, Continental AG, Symantec Corporation, and others.
- These companies offer a range of cybersecurity solutions tailored to the automotive industry’s evolving needs.
View More On The External Cloud Automotive Cyber Security Services Market Report 2024 – https://www.thebusinessresearchcompany.com/report/external-cloud-automotive-cyber-security-services-global-market-report
Technological Advancements In Cloud Car Platform Revolutionizes Automotive Cybersecurity
Innovation and technological advancement are crucial drivers in the automotive cybersecurity sector.
- Companies like Wipro are introducing cutting-edge solutions like the Cloud Car platform, offering end-to-end cybersecurity.
- This platform enables manufacturers to address software failures through over-the-air updates, enhancing scalability and efficiency.
Strategic Acquisitions and Partnerships
Strategic acquisitions further propel the evolution of automotive cybersecurity capabilities.
- LG Electronics’ acquisition of Cybellum for $240 million strengthens its cybersecurity offerings and autonomous systems capabilities.
- Cybellum specializes in detecting vulnerabilities in in-vehicle hardware and software, complementing LG’s existing expertise.
Market Segmentation and Regional Dynamics
Understanding market segments and regional trends is essential for navigating the external cloud automotive cybersecurity services market.
- Segments include security types, electric vehicle types, vehicle types, and applications.
- North America dominated the market in 2023, while Asia-Pacific is anticipated to witness the fastest growth in the forecast period.
Request A Sample Of The Global External Cloud Automotive Cyber Security Services Market Report 2024:
The External Cloud Automotive Cyber Security Services Global Market Report 2024 provides an in-depth analysis on the external cloud automotive cyber security services market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the external cloud automotive cyber security services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Follow us on:
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model