Battle for Dominance Between Tesla and Cisco in the Global Cybersecurity for Cars Market

Aug 23, 2016, 11:30 ET from Mordor Intelligence

HYDERABAD, India, August 23, 2016 /PRNewswire/ --

Mordor Intelligence announces the publication of their research report on cybersecurity for cars. The report titled, "Global Market for Cyber Security of Cars by Type, Geography and Vendors Forecasts, Shares and Trends," discusses the current landscape and outlook of the said market.

The cybersecurity for cars market has been estimated USD 16.85 million in 2015 and is forecasted to grow at a CAGR of 133.36% during the forecast period to reach USD 1166.14 million by 2020. Cyber security has become an indispensable aspect of connected cars, and it primarily originates from the convergence of automotive and communication technology.

As of 2015, North America was estimated to account for the largest market share of 40.00%, with the United States emerging as the single largest market in terms of cyber security adoption. It was then followed by Europe, with Germany, United Kingdom, Italy and France accounting for a sizeable portion of the market. The Asia-Pacific region is forecasted to record the highest CAGR growth rate of 143.64% during the forecast period, followed by 'Rest of The World' where the Middle East region is expected to emerge as a major growth market. Due to the dynamic nature of the market and continual technological innovations, the overall growth rate is expected to be on the higher side.

The report is segmented based on:

  • Type
    • Software-based
    • Hardware-based
  • Region
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

Hardware based cyber security systems have been estimated to account for the largest market share in 2015, which was then followed by software based systems. Rapid convergence of technologies and high rates of penetration of smartphones are expected to aid growth in this market over the reporting period. Software based systems are forecasted to record higher CAGR growth rate of 136.82% during the period 2015 to 2020.

The cybersecurity for cars market report includes competitive vendor landscaping of major companies such as Cisco, Verizon, Tesla Motors, Telenor, Argus Cybersecurity, and Infineon Technologies.

About Mordor Intelligence: 

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SOURCE Mordor Intelligence