VANCOUVER, BC, Sept. 22, 2020 /PRNewswire/ -- The Global Automotive Cybersecurity Market is projected to reach USD 8.61 billion by 2027, according to a recent report by Emergen Research. The market is driven by high-level package integration into vehicle ECUs, and therefore the want for cybersecurity in connected cars has been magnified. Additionally, demanding knowledge privacy laws resulting in increasing demand for automotive cybersecurity is anticipated to spice up the expansion of the market additionally.
Security issues within the automotive business have come up in conjunction with Automotive Cybersecurity and connected cars around the corner. This has resulted in an associate multiplied level of cyber-attacks within the automotive business that has fueled the requirement for automotive cybersecurity systems. The vehicle comprising of assorted electrical parts that ideally is connected through an inside network is well accessible to hackers. The hackers might take complete management of safety-critical parts like engines or brakes by gaining access to a tangential electronic management unit. Thus, with the increasing quality of connected vehicles, the auto-makers square measure operating in association with net service suppliers and package firms to supply cybersecurity systems to the users. The growing incorporation of advanced options and the growing adoption of telematics services in vehicles also are powerfully boosting the enlargement of the worldwide automotive cybersecurity market.
Within the cybersecurity market, the event of countermeasures is incredibly tough as a result of the shortage of standardization of cybersecurity solutions. The solutions for cybersecurity rely on the specifications given by the OEMs. These solutions vary because of the utilization of various platforms within the same vehicle model, variations within the electronic design, and totally different options within the vehicle. As a result, the automotive cybersecurity resolution suppliers face integration risks to affect threats and vulnerabilities of a vehicle.
Autonomous vehicles are gaining an unprecedented quantity of traction. The expansion of autonomous vehicles offers unequaled opportunities to cloud suppliers, OEMs, and alternative stakeholders to collaborate and partner with automotive firms to leverage this growth. In order to develop self-service vehicles, there has been an agreement between the automobile manufacturer, Mercedes-Benz, and Uber Technologies INC. in 2017 which implies that autonomous vehicles is likely to be a reality shortly. The arrival of autonomous vehicles can increase cybersecurity threats and, hence, drive the automotive cybersecurity business.
Stakeholders from non-automotive industries square measure researching to look at the cybersecurity level globally. For example, in 2017, the International Telecommunication Union (ITU) free the worldwide Cybersecurity Index (GCI). Consistent with the report, the extent of the commitment of various countries for creating knowledge safe and secure has been increasing year-on-year. These standards mandating cybersecurity solutions square measure expected to drive the adoption of cybersecurity measures.
The North American region is predicted to dominate the worldwide Automotive Cybersecurity market within the consecutive years, due to the rising concern over the environment, road safety as well as mandatory initiatives by different regulatory bodies. The presence of a handful of key players with the strong capability of R&D and technology also complements the growth of the market during this region.
For the purpose of this report, Emergen Research has segmented the Global Automotive Cybersecurity Market on the basis of vehicle type, application, security type, and region:
Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
ADAS and Safety
Body Control and Comfort
Security Type Outlook (Revenue, USD Billion; 2017-2027)
Wireless Network Security
Regional Outlook (Revenue: USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
Find more similar research insights by Emergen Research:
Automotive Camera Market By Vehicle Type (Passenger, Light Commercial, Heavy Commercial Vehicles), By Technology (Infrared, Thermal and Digital Cameras) and By Applications Forecasts to 2027
Automotive Telematics Market By Vehicle Type (Passenger, Commercial Vehicle, Two-Wheelers), By Connectivity Solutions (Embedded, Integrated Smartphones, Tethered) and By Applications Forecasts to 2027
Intelligent Transportation System Market By Mode of Transport (Roadways, Airways, Railways), By System (Advanced Traveler Information System, Advanced Public Transportation System), By Application (Intelligent Traffic Control, Parking Management), and By Region, Forecasts to 2027
Driver Monitoring Systems Market By Monitoring Type (Driver State Monitoring, Driver Health monitoring), By Component (Interior camera, Other Components), By Propulsion (Electric Vehicles, Gasoline Powered), By Instrument (Software, Hardware), By Vehicle Type (Commercial, Passenger) and Regions Forecasts to 2027
ADAS and Autonomous Driving Components Market By System (Adaptive Cruise Control, Adaptive Front Light, Blind Spot Detection, Intelligent Park Assistance, Night Vision System), By Vehicle Type (Passenger Vehicle, LCV, HCV)), By Propulsion (Electric Vehicles, Gasoline Powered), By Type, and Regions Forecasts to 2027
Automotive Refinish Coatings Market By Resin Type (Epoxy, Alkyd), By Product (Primer, Basecoat), By Technology (Water-borne Coatings, UV-cured Coatings), By Substrate (Glass, Metal), By Application (Commercial vehicles), and By Region, Forecasts to 2027
About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
With market-leading insights and an in-depth understanding of leading and niche technologies, our solutions address the most pertinent questions for your business needs. A major technological shift has been witnessed towards creating a 'Circular Economy,' fuelled by factors, such as the increased adoption of bio-based materials, along with other methods for achieving carbon neutrality. We are conversant in technologies, viz., Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), Robotic Process Automation (RPA), Smart Manufacturing, Internet of Things (IoT), Big Data Analytics, Machine learning, Nanotechnology, Edge Computing, Blockchain Technology, Cloud Computing, Vehicle Electrification, Advanced Maintenance Analytics, and Predictive Maintenance, among other prevalent and emergent technologies.