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What Is The Projected Valuation Of The Automotive Cybersecurity Market In The Coming Years?

In recent times, the size of the automotive cybersecurity market has seen a swift expansion. The market, which is predicted to rise from $2.77 billion in 2024 to $3.24 billion in 2025, is expected to experience a compound annual growth rate (CAGR) of 17.2%. The notable growth during the historic period is a result of the heightened adoption of autonomous and connected vehicles, the implementation of strict government regulations and industry standards, increasing demand for advanced driver assistance systems (ADAS), the growing popularity of luxury vehicles, along with the rise in cyber threats specifically directed at automotive systems.

In the coming years, the automotive cybersecurity market is anticipated to experience rapid expansion, reaching a valuation of $6.68 billion in 2029 with a compound annual growth rate (CAGR) of 19.8%. This growth during the forecast period is due in part to an increase in adoption of electric vehicles, 5G integration in connected vehicles, rising attack surface, a surge in reliance on over-the-air (OTA) software updates, expansion of the automobile industry in developing markets, and an increase in awareness and investments towards active cybersecurity measures. Significant trends during this period projected to impact the market include the development of cohesive cybersecurity solutions, a focus on safeguarding vehicle-to-everything (V2X) communication, the application of blockchain technology for safe data sharing, the partnership between car manufacturers and cybersecurity firms for threat intelligence, and usage of behavior-based anomaly detection for immediate threat recognition.

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Which Growth Drivers Are Shaping The Automotive Cybersecurity Market Outlook?

The surge in connected cars is critically fueling the expansion of the automotive cybersecurity market. A connected car is essentially a vehicle equipped with an embedded system for internet access. Cybersecurity measures in these cars encompass critical features such as advanced threat intelligence, designed to shield the cars from routine security issues. For instance, as per the UK Government’s data in August 2022, it’s predicted that about 40% of new cars in the UK might be outfitted with self-driving technology by 2035, a trend that mirrors those in global markets.

What Is The Segment Breakdown Of The Automotive Cybersecurity Market?

The automotive cybersecuritymarket covered in this report is segmented –

1) By Security Type: Network Security, Application Security, Endpoint Security, Wireless Security, Cloud Security

2) By Form: In-Vehicle, External Cloud Service

3) By Vehicle: Passenger Car, Commercial Vehicle

4) By Application: Telematics System, Body Control And Comfort System, Infotainment System, Powertrain System, Other Applications

Subsegments:

1) By Network Security: Intrusion Detection Systems (IDS), Firewalls, Secure Network Protocols

2) By Application Security: Secure Coding Practices, Application Vulnerability Testing, Software Updates And Patching

3) By Endpoint Security: Anti-Malware Solutions, Endpoint Detection And Response (EDR), Device Authentication

4) By Wireless Security: Secure Communication Protocols, Encryption Solutions, Wireless Intrusion Prevention Systems (WIPS)

5) By Cloud Security: Data Encryption And Protection, Identity And Access Management (IAM), Cloud Security Posture Management (CSPM)

How Are Global Trends Impacting The Development Of The Automotive Cybersecurity Market?

Key technological advancements are becoming an increasingly prominent trend in the automotive cybersecurity market. Numerous firms engaged in this sector are investing in innovation to defend their market standing. For example, in June 2024, Swiss company SGS Société Générale de Surveillance SA, known for its testing, inspection, and certification services, unveiled their cybersecurity audit, aimed at strengthening cybersecurity within the automotive supply chain. As automotive systems are becoming further digitized, improved cybersecurity protocols are crucial to preserve product quality and user confidence. The United Nations Regulation No. 155 (UN R-155) requires car manufacturers to mitigate supplier-induced risks in their Vehicle Cybersecurity Management System (V-CSMS) to protect vehicles and parts. Supplier audits via the V-CSMS assist manufacturers in efficiently navigating these dependencies.

Who Are The Major Stakeholders Operating In The Automotive Cybersecurity Market?

Major companies operating in the automotive cybersecurity market include Aptiv PLC, Argus Cyber Security, Arilou Technologies, Continental AG, ESCRYPT GmbH, GuardKnox Cyber Technologies Ltd., Harman International Industries Inc., Trillium Secure Inc., SafeRide Technologies Ltd., Lear Corporation, Karamba Security, Intel Corporation, Infineon Technologies AG, Cisco Systems Inc., Delphi Technologies PLC, Vector Informatik GmbH, Symantec Corporation, Regulus Cyber, C2A Security Ltd., XShield Ltd., Apriori Technologies Inc., AutoCrypt Co Ltd., Idaptive Automotive Cybersecurity, GuardSquare NV, Altimetrik Corp., Identiq Automotive Ltd., Guardtime AS, ForgeRock Automotive, AutomotiveCyber GmbH, Thales Group, NXP Semiconductors NV, Green Hills Software

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Which Region Is Likely To Register The Fastest Growth In The Automotive Cybersecurity Market?

North America was the largest region in the automotive cybersecurity market in 2024. The regions covered in the automotive cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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