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The automotive cybersecurity market share is expected to increase by USD 1.91 mn from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 16.58%.
This automotive cybersecurity market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive cybersecurity market segmentation by application (passenger vehicles and commercial vehicles) and geography (North America, APAC, Europe, South America, and MEA). The automotive cybersecurity market report also offers information on several market vendors, including Aptiv Plc, Argus Cyber Security Ltd., Arilou Information Security Technologies Ltd., ESCRYPT GmbH, Infineon Technologies AG, Karamba Security Ltd., Lear Corp., RunSafe Security Inc. , Samsung Electronics Co. Ltd., and secunet Security Networks AG among others.
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Based on our research output, there has been a impact on the market growth during and post COVID-19 era. The need for cybersecurity in connected cars is notably driving the automotive cybersecurity market growth, although factors such as price sensitivity and low consumer acceptance in emerging markets may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive cybersecurity market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Cybersecurity Market Driver
One of the major drivers of the automotive cybersecurity market growth is the high-level software integration into vehicle ECUs. With vehicles becoming more automated and connected to the Internet, to other cars, and even roadway infrastructure, the number of potential intrusion points is growing exponentially. A modern car has multiple ECUs with as much as 100 million lines of code, and it is estimated that for every 1,000 lines, there are as many as 15 bugs that are potential doors for would-be hackers.Major security vendors such as Argus Cyber Security, HARMAN International, Karamba Security, and Symantec are investing in R&D to develop anti-malware solutions for connected cars. These solutions are meant to protect the ECUs from malware and intrusion attacks. For instance, Argus Cyber Security offers intrusion detection and prevention module that ties into a vehicle's CAN, which connects the various ECUs or computers in a car. Karamba Security offers solutions that perform a heuristic scanning of the vehicle's data traffic. The growing portfolio of product offerings from the major cybersecurity vendors is crucial for the growth of the automotive cybersecurity market.
Key Automotive Cybersecurity Market Trend
One of the major trends for the automotive cybersecurity market growth is machine learning-based cybersecurity to deal with real-time threats. Connected cars are also referred to as networks on wheels. These networks use anti-virus and other software security technologies to identify threats and quarantine unknown ones. These techniques fail to show positive results in a dynamic environment where new threats continually pop up. In a dynamic environment, machine learning in artificial intelligence (AI) has the edge over traditional anti-virus solutions. Machine learning cybersecurity systems are self-adapting and self-defending, as they do not need explicit programming. These systems have the ability to learn with time, which makes them more aware of the new hacks and exploits.
Key Automotive Cybersecurity Market Challenge
One of the major challenges for the automotive cybersecurity market growth is the complex vehicle ECUs that can delay the evolution of cybersecurity software. The increasing use of electronics in connected cars makes them vulnerable to multiple cyberattacks. The main reason is the increasing number of vehicle nodes (ECUs) that are used to support the demand for additional functionalities. Currently, around 30 ECUs can be found in a mid-segment vehicle, which goes up to 100 ECUs in complex vehicles. Each unit contains dedicated operating software, which means that a vehicle's system will contain hundreds of millions of lines of code. The presence of a high level of complexity in code leads to vulnerabilities. These vulnerabilities are then exploited by hackers to gain access to the system.
This automotive cybersecurity market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automotive cybersecurity market as a part of the global systems software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive cybersecurity market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive cybersecurity market encompasses successful business strategies deployed by the key vendors. The automotive cybersecurity market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive cybersecurity market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive cybersecurity market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global systems software market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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