NEW YORK, Oct. 26, 2016 /PRNewswire/ -- "Increasing demand for secure solutions and legislations has driven the demand for automotive cyber security solutions."
The cyber security market is estimated to grow with a CAGR of 13.2% from 2016 to 2021 to reach a market size of USD 31.8 million by 2021. Growing integration of advanced features in automobiles and increasing connectivity in the vehicles are the major opportunities for the automotive cyber security market.
Application security is the fastest growing market
The application security segment in the automotive cyber security market is projected to grow at the highest CAGR during the forecast period among all the security types. Application security refers to software security and code security from external and internal threats, such as web attacks, DDoS (automobile-based Trojan), site scraping, and fraud. Application security is not considered to be a standalone security requirement; instead, it addresses cyber security needs across business networks in different business processes. The proliferation of mobile devices in the connected car segment has significantly increased the usage of application security solutions across varied car manufacturers.
North America dominates the connected car market on a global level
The North American region is estimated to dominate the global automotive cyber security market, in terms of volume, and is projected to grow at a high CAGR during the forecast period. It is expected that the growth in the region would be the largest with regards to one of the major application areas of connected cars—car to X communication. The demand for cars has also witnessed a boost recently in the North American region with the convergence of the ICT sector, the automotive sector, and the transportation sector, resulting in the emergence of the connected vehicle ecosystem. Thus, the need for cyber security solutions for cars in this region will also increase.
The study contains insights provided by various industry experts, ranging from material suppliers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type: Solution Providers—80% and Associations—20%,
- By Designation: C Level—60% and Manager Level—40%
- By Region: Middle-East—60%, North America—20%, and Europe—20%
Players Profiled in the Report are:
- Infineon Technologies AG (Germany)
- Harman International Industries, Inc. (U.S.)
- Argus Cyber Security (Israel)
- Delphi Automotive PLC (U.K.)
- Intel Corporation (U.S.)
- Lear Corporation (U.S.)
- Trillium, Inc. (Japan)
- SBD Automotive & NCC Group (U.K.)
- Karamba Security (Israel)
- Escrypt (Germany)
- Arilou Technologies (Israel)
Reasons to Buy the Report
This report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the automotive cyber security market, competitive landscape, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants/smaller firms as well as established firms to understand the market better, thereby helping them to acquire a larger market share.
The report provides insights with reference to the following points:
- Market Development: Comprehensive information about key markets. The report analyzes the market for automotive cyber security market across regions.
- Product Development/Innovation: Detailed insights into R&D activities, upcoming technologies, and new product launches in the global automotive cyber security market.
- Market Diversification: Detailed information about untapped markets, investments, new products, and recent developments in the global automotive cyber security market.
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the market.
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