Published Date: 30-Sep-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Automotive Cybersecurity Market size is expected to reach $6.2 billion by 2028, rising at a market growth of 19.9% CAGR during the forecast period.
The Communication Systems market acquired the maximum revenue share in the Global Automotive Cybersecurity Market by Application in 2021, thereby, achieving a market value of $1.8 billion by 2028. A communication gateway is increasingly used by automobiles to create connection between internal ECUs and external devices (like a central server). Automotive cybersecurity is becoming more and more significant in these communication systems. Due to this the market is anticipated to propel in this segment.
The Application Security market is showcasing a CAGR of 19.2% during the forecast period. This is the result of the increased efforts in securing applications against cyberattacks. Manufacturers cannot afford to be careless when it comes to vehicle security because modern automobiles increasingly double as mobile access points to sensitive personal data.
The Software market is generating the high revenue share in the Global Automotive Cybersecurity Market by Offering in 2021, thereby, achieving a market value of $4.8 billion by 2028. This is because of the strong demand for automotive cybersecurity software that can identify and protect against an increase in the number of cyber-attacks. Further, the market growth is supported by continue innovations in cyber security solutions by the major participants all over the world.
The External Cloud Services market has shown the high growth rate of 21% during (2022 - 2028). Due to the advancement of cloud infrastructure and framework, external cloud services, the regional market is expanding. Given that autonomous vehicles produce a significant amount of data, cloud services provide a highly reliable technology.
The North America market dominated the Global Automotive Cybersecurity Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.15 billion by 2028. The Europe market is estimated to witness a CAGR of 19.4% during (2022 - 2028). Additionally, The Asia Pacific market would generate CAGR of 20.3% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Security Type
Unique Offerings from KBV Research