© 2016 Global Market Insights, Inc. USA. All Rights Reserved Automotive Cybersecurity Market to reach $837.1mn by 2024: Global Market Insights Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Automotive Cybersecurity Market to exceed USD 837 million by 2024; driven by increasing requirement for cybersecurity in connected cars. Improvements in the standard of living and increased disposable income have caused a shift toward the adoption of advanced vehicles offering various benefits such as in-car infotainment systems, navigation, and telematics. As these systems have become increasingly complex, they are more vulnerable to cyberattacks, contributing to the automotive cybersecurity attacks. The government agencies are also partnering with software providers for telematics cybersecurity solutions driving the automotive cybersecurity market growth. For instance., in May 2018, the Department of Homeland Security Science and Technology Directorate (DHS S&T) partnered with Volpe National Transportation Systems a part of Department of Transportation (DOT), to build a cybersecurity implementation and operational network for telematics systems in various federal vehicles. Automotive Cybersecurity Market  The automotive cybersecurity market is benefiting from the investments made by the leading investors, who support automotive firms. These funds are used by the companies to scale up their cybersecurity profile, fighting against the rising cyberattacks. For instance, in April 2018, Denso an international American firm invested USD 2 million in Dellfer, an automotive cybersecurity company. The company plans to use the funding to enhance its operations in the cyber protection of automobiles. Industry Overview

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Cloud security is the fastest growing segment in the automotive cybersecurity market and it is projected that by 2024, approximately 30% of the vehicles globally will be deployed with cybersecurity cloud services. They examine and manage the fleets of vehicles through software such as management service, which enables them to assess the irregularities and identify unauthorized efforts to attack the connected vehicles. The automotive industry is making huge investments in the cloud technology to secure the automotive cloud environment.  The software security segment in automotive cybersecurity market is projected to grow at a CAGR of 24.5% over the forecast period. The proliferation of ECUs in the automobiles has also increased the attack surface making vehicles easily accessible to attackers. There are a large number of ECUs with different capabilities in the automobiles, making them necessary to provide software security to these systems.  The commercial vehicle segment in automotive cybersecurity market is expected to grow at a CAGR of 34.5% over the forecast timeline as these vehicles play a major role in delivering the country’s goods and services and hence, protecting them from the rising cybercrime is a necessity. These vehicles also use relevant technologies to extend their connectivity and assist the businesses to enhance their working efficiency. It helps them in reducing fuel costs and increasing vehicular productivity boosting their demand. Continue…

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© 2016 Global Market Insights, Inc. USA. All Rights Reserved Spain Automotive Cybersecurity Market Size, By Security, 2017 & 2024 (USD Million)

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© 2016 Global Market Insights, Inc. USA. All Rights Reserved Continue  The On-board Diagnostics (OBD) automotive cybersecurity market application segment is projected to grow at a CAGR of 31.7% over the forecast timeframe due to the rising advent of smartphones and enhanced miniaturization. The vehicle aftermarket manufacturers and startups attach these devices to the on-board diagnostic port present in the connected cars. As these OBD ports provide direct contact to the Controller Area Network (CAN) bus, it is necessary to protect these ports from cyber attackers. Furthermore, with the usage of these ports in various applications such as fleet management, consumer vehicle diagnostics, and mile-based insurance, the automobile providers should perform early security investigation of these devices to regulate their common vulnerabilities and control security risks.  The infotainment application is anticipated to reach an automotive cyber security market revenue of USD 83 million by 2024 as they deliver major benefits such as audio/ video calling, navigation, live music streaming, Bluetooth and USB connectivity, Wi-Fi, and in-car internet. These systems have access to more and more vehicle functions, making them more vulnerable to the cyberattacks. Various automobile firms are entering into strategic partnerships to secure their connected cars. For instance, in January 2018, Argus Cyber Security partnered with STMicroelectronics to upgrade the cybersecurity measures of connected vehicle technologies.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Continue  North America dominates the automotive cybersecurity market due to the rising collaboration between the automotive manufacturers and software providers to enhance their connected car safety and security. For instance, in January 2018, Honeywell entered into a memorandum of understanding with LG Electronics to develop an automotive software and infrastructure to address the rising risk associated with the connected vehicle technology. Furthermore, the U.S. and Canada are the main contributors of new automobiles deployed with the latest technologies, driving the automotive cybersecurity market growth.  The Asia Pacific automotive cyber security market is projected to grow at a CAGR of 33.3% over the forecast period due to the increasing demand for connected vehicles in this region. Increasing investments to develop advanced in-car services and connectivity infrastructure are also driving the automotive cybersecurity market demand.  Various companies operating in the software and automobile industries are entering into strategic partnerships and collaborations to develop advanced automobile solutions, showcasing tremendous growth opportunities in this sector. The prominent vendors present in the automotive cybersecurity market include Audi, General Motors, Ford, BT Security, Daimler Trucks, Arilou Technologies Ltd., Argus Cyber Security Ltd., BMW, Honda, Nissan, Cisco Systems, Inc, Tesla Motors, Lear Corporation, Continental AG, Karamba Security, Volvo Car Group, and Symantec Corporation.

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