Global Automotive Cybersecurity Market – Analysis and Forecast To 2025 | Continental AG, Aptiv PLC.

The global automotive cybersecurity market was valued at USD 2.4 billion in 2019 and is expected to reach USD 6.0 billion by 2025, growing at a CAGR of 14.9% during 2020-2025. The global automotive cybersecurity market is growing at a double-digit rate during the forecast period. The major reason behind the high growth is security concerns with rise in connection cars and automation vehicle adoption. Further, it is expected that new cars coming in the road will be connected. These vehicles will be fitted with commanding communications capabilities to enable a lot of driving features and other enhanced features. The internal control systems are expected to exchange data through complex internal networks and from other connected vehicles and outside world through Internet of Things (IoT). This makes the car more vulnerable to cyber risk and hence boost the demand for automotive cybersecurity.

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Growing automation in automotive sector and rising adoption of connected car is giving rise to the number of electric components integrated in the vehicle. This is making vehicle more venerable to the cyberattacks. All these factors will impact the automotive cybersecurity progression in the market in near future.

Geographically, APAC, is the largest and fastest growing automotive cybersecurity market with largest number of vehicle production on yearly basis, advancing in-vehicle electronic architecture, and growing number of automotive OEMs and electronic component suppliers in the region. This will further up surge the growth of the China automotive cybersecurity market in years to come.

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Key players in the in the automotive cybersecurity market include automotive OEMs as well as cybersecurity service providers in general. Further, mergers & acquisitions are key strategies adopted by the OEMs in the market. For instance, in 2016, Harman which is apart of a Samsung company now TowerSec, an automotive cybersecurity service provider to maintain their presence in the market.

Some of the key players operating in the automotive cybersecurity market Harman International, Continental AG, Robert Bosch GmbH, Denso Corporation, Aptiv PLC, Symantec Corporation, NXP Semiconductors N.V., Honeywell International Inc., Trillium Secure Inc., and Escrypt GmbH.

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