Automotive Cybersecurity Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user and Region

The global automotive cybersecurity market is projected to experience remarkable growth from 2021 to 2027, driven by the advancements in automobile technologies and the increasing integration of ecosystems and technologies. As the automotive industry moves towards a more connected world, strong cybersecurity measures will be essential to ensure the security and safety of vehicles and their operations. These factors are expected to fuel the growth of the global automotive cybersecurity market in the coming years.

Automaking Evolution Drives Demand for Automotive Cybersecurity

Prominent automakers, including Daimler AG and Tesla Motors, are investing in the development of self-driving vehicle technology, highlighting the need for robust cybersecurity solutions. As futuristic technologies are integrated into automobiles, the demand for safety features and protection against complex cyber-attacks is expected to rise. Automakers are making significant investments in cybersecurity software to address these challenges, offering new opportunities for the market to innovate and grow.

ADAS Adoption Boosts Automotive Cybersecurity

Advanced driver assist systems (ADAS) are expected to lead the way in the global automotive cybersecurity market. These systems are already being deployed in premium and luxury vehicles. The emergence of connected vehicles, autonomous driving, electrification, and shared mobility has increased the potential for cyber-attacks, driving the demand for advanced automotive cybersecurity solutions. Safeguarding against hacking, information theft, and cyber-attacks will be crucial in ensuring the long-term safety of passengers and drivers, particularly with the introduction of electric vehicles that incorporate ADAS functionalities.

North America and Asia Pacific Present Growth Opportunities

North America is leading the global automotive cybersecurity market, supported by government regulations aimed at combating cybersecurity threats. The introduction of connected vehicle ecosystems and collaborations between the ICT and automotive industries are driving market growth in the region. Increasing purchasing power and the rising number of passenger vehicles in the market are expected to directly impact the automotive cybersecurity market. Asia Pacific, with its growing vehicle production and sales in countries like China and India, presents excellent opportunities for market expansion during the forecast period.

Key Market Players

Leading players in the automotive cybersecurity market include Karamba Security, Harman, Continental, Vector, Escrypt, NXP, Argus Cyber Security Ltd., Cisco Systems, Inc., and BT Security. The market is expected to become increasingly competitive as new entrants enter the space.