Automotive Cyber Security Market

According to a research report "Automotive Cybersecurity Market by Form (In-Vehicle, External Cloud Services), Offering (Hardware & Software), Security, Vehicle Type, Application, Propulsion, Vehicle Autonomy, Approach, EV Application and Region - Global Forecast to 2028" published by MarketsandMarkets, the global automotive cybersecurity market size is projected to grow from USD 2.5 billion in 2023 to USD 6.0 billion by 2028, at a CAGR of 18.5%. The demand for automotive cybersecurity solutions is fueled by the increased use of electronics per vehicle, a growing number of connected cars, reinforcement of mandates by regulatory bodies for vehicle data protection, significantly growing global automotive V2X market, and the rising sales of electric vehicles globally.

Browse 256 market data Tables and 103 Figures spread through 359 Pages and in-depth TOC on "Automotive Cybersecurity Market by Form (In-Vehicle, External Cloud Services), Offering (Hardware & Software), Security, Vehicle Type, Application, Propulsion, Vehicle Autonomy, Approach, EV Application and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/cyber-security-automotive-industry-market-170885898.html

Passenger vehicle segment is expected to have largest share in the global automotive cybersecurity market

The passenger vehicles segment is anticipated to dominate the global automotive cybersecurity market in the foreseeable future. This is owing to the rising demand for connected vehicle technology paired with the increasing sales of luxury vehicles. Also, the increasing focus towards V2X technology owing to the rising concerns over traffic, safety, as well as pollution levels is anticipated to bolster revenue growth for the passenger vehicles segment of the global automotive cybersecurity market. For instance, Audi A4 and Cadillac CTS are passenger vehicles that are equipped with V2X technology. Moreover, the rising adoption of ADAS equipped passenger vehicles is also another major factor creating the need for automotive cybersecurity solutions gobally.

Endpoint security segment is expected to have significant growth opportunities in global automotive cybesecurity market

The endpoint security segment is anticipated to have significant growth opportunities in Europe and Asia Pacific during the forecast period. Rising concerns pertaining to the safety and security in Europe and Asia Pacific regions are also likely to increase the demand for endpoint security solutions. New vehicles launched in the global market contain around 100 million lines of code and are typically deployed with complex software by automotive manufacturers/OEMs. Automotive OEMs are opting for endpoint security solutions in order to maintain the safety as well as security of a vehicle’s entire code base. All these aforementioned factors are expected to augment revenues for endpoint security segment of the automotive cybersecurity market in the foreseeable future.

“Germany to lead the automotive cybersecurity market in Europe”

Germany is the largest automobile market in Europe. It is one of the most advanced and innovative automotive industries in the world. It is known for its engineering excellence and presence of automotive players such as Volkswagen, Audi, Mercedes-Benz, and Daimler, among others. In addition, Germany is one of the leading vehicle manufacturers in Europe, owing to the presence of OEMs and tier 1 companies. Luxury vehicle manufacturers like BMW, Volkswagen, and Mercedes Benz have their head offices in Germany. Germany is one of the countries in Europe to have agreed to follow WP.29 regulations for automotive cybersecurity, which will help accelerate the demand for automotive cybersecurity solutions in the country during the forecast period.

The automotive cybersecurity market is dominated by global players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Harman International (US), DENSO Corporation (Japan), and Aptiv PLC (Ireland), among others. These companies have adopted strategies of new product development, expansions, collaborations, partnerships, and acquisitions to gain traction in the market. Collaborations were the most adopted strategy, among others.

Don’t miss out on business opportunities in Automotive Cybersecurity Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]