The Asia Pacific Automotive Cybersecurity Market would witness market growth of 20.3% CAGR during the forecast period (2022-2028).
Strong connectivity, 3D printing, machine learning, and a social network of things are just a few of the trends that will continue to gain popularity. A more practical and effective cybersecurity solution is being produced as a result of significant advancements in the automotive sector that are enhancing the use of Battery Management Systems (BMS) and sensors. Therefore, as autonomous and semi-autonomous vehicle technology advances, a need for automotive cybersecurity regulations arises, leading to an increase in data and an extension of networking capabilities.
The industry has undergone a major transition as a result of many automobile businesses switching to electronic road vehicles, which have more connectivity and intelligence. Electronic vehicles (EVs) rely more on software for vehicle operations as they become more intelligent and connected, enabling more features and functionality to improve the driving experience.
Rising environmental concerns (caused by rising exhaust emissions), the application of strict fuel economy and stringent emissions standards, and excessive government support in the form of subsidies and benefits to rise the rate of adoption of e-mobility and replace heavy-duty diesel and gasoline-powered cars with zero-emission electric vehicles are some of the key trends of the regional market.
China's One Belt, One Road initiative is a significant effort that aspires to connect regions all over the world by land, sea, and air routes to form a single market. In order to integrate electric vehicles into its delivery network, Amazon and Mahindra Electric made a partnership public in February 2021. Amazon aims to have 10,000 electrified vehicles in its fleet by 2025. Therefore, during the time of forecasting, these factors are anticipated to fuel the sale and manufacturing of vehicles.
The China market dominated the Asia Pacific Automotive Cybersecurity Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $509.6 million by 2028. The Japan market is exhibiting a CAGR of 19.6% during (2022 - 2028). Additionally, The India market would experience a CAGR of 21% during (2022 - 2028).
Based on Application, the market is segmented into Communication Systems, Telematics, Infotainment, ADAS & Safety, Body Control & Comfort, and Powertrain Systems. Based on Security Type, the market is segmented into Application Security, Endpoint Security and Network Security. Based on Offering, the market is segmented into Software and Hardware. Based on Form, the market is segmented into In-Vehicle and External Cloud Services. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Automotive Cybersecurity Market is Projected to reach USD 6.2 Billion by 2028, at a CAGR of 19.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Continental AG, Denso Corporation, Aptiv PLC, Harman International Industries, Inc. (Samsung Electronics Co., Ltd.), Vector Informatik GmbH, Arilou Information Security Technologies Ltd. (NNG Group), GuardKnox Cyber Technologies Ltd., and Karamba Security Ltd.
By Application
By Security Type
By Offering
By Form
By Country
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