The connected vehicle ecosystem is growing fast, with new connectivity technologies moving vehicles into the Internet of Things (IoT)-based software-defined vehicle era. These new connectivity technologies have their own benefits as well as threats. The increase in the connectivity of a vehicle’s center control module has increased the vehicle’s vulnerability to cyberattacks with less safety and security. Security features must include the protection of confidential information and critical safety systems.

The Automotive Cybersecurity Market Analysis by BIS Research projects the market to grow at a significant CAGR of 22.30% during the forecast period from 2020 to 2025. The automotive cybersecurity market size is estimated at $1.61 billion in 2019. The Asia-Pacific & Japan region dominated the global automotive cybersecurity market in 2019, whereas China is expected to grow at the highest CAGR during the forecast period.

The automotive cybersecurity market is driven by the increasing implementation of MaaS and vehicle platooning, the increasing application of automotive Cloud for storage of data and over-the-air updates, and the increasing levels of autonomy. However, high complexity of the ecosystem with the presence of multiple stakeholders and zero-failure rate of cybersecurity applications are limiting the market growth.

The automotive cybersecurity market on the basis of product type has been segmented into ECU protection, firewall, and IDS and IDPS cybersecurity solution. The ECU protection dominated the global automotive cybersecurity market in 2019, and the IDS and IDPS cybersecurity solution is anticipated to grow at the fastest rate throughout the forecast period (2020-2025).

The automotive cybersecurity market on the basis of vehicle type has been segregated into passenger vehicles, and commercial vehicles. The passenger vehicles segment dominated the global automotive cybersecurity market in 2019 and is anticipated to maintain its dominance throughout the forecast period.

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Scope of the Global Automotive Cybersecurity Market

The report is an in-depth study of the global automotive cybersecurity market, including a thorough analysis of the types of products and applications. The study also presents a detailed analysis of the market dynamics and the estimation of the market size over the forecast period 2020-2025. The scope of this report is focused on the different product types and vehicle type catering to automotive cybersecurity market for different regions. The industry analysis presents a detailed insight about the major market players in the global automotive cybersecurity market using the value chain analysis.

The market analysis includes an in-depth examination of the key ecosystem players and key strategies and developments taking place in this market. It includes the market dynamics (market drivers, opportunities, and challenges) and industry analysis. The purpose of the study is to gain a holistic view of the global automotive cybersecurity market in terms of various factors influencing it. The market has been segmented into application, product, and region.

Europe to Dominate the Global Automotive Cybersecurity Market

The adoption of connected vehicles is increasing at a rapid rate, driven by growing number of ECUs in vehicles, advancements in vehicle software, and regulations by governments in leading markets. Among all regions, Europe held the largest market share in 2021. The Europe region is expected to continue dominating the automotive cybersecurity market in the coming years, owing to strict regulations for connected vehicle OEMs and Europe being large consumer base for connected vehicle market.

Competitive Landscape

Major automotive cybersecurity solution providers are undertaking a variety of strategic efforts, primarily including partnerships and collaborations, to gain market share.

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The following are some key highlights in terms of major automotive cybersecurity solution providers:

• Vector Informatik GmbH, Aptiv PLC, NXP Semiconductors, HARMAN International, and DENSO Corporation are some leading players globally.
• ESCRYPT GmbH, Argus Cyber Security Ltd., and Thales are some emerging companies.
• Upstream Security Ltd., Guardknox Cyber-Technologies Ltd., and C2A SEC LTD. are some of the key start-ups in the ecosystem.
• Partnerships, collaborations, and joint ventures have been the most preferred strategies in recent years.
• Product developments, mergers and acquisitions are the other strategies being implemented.

Key Questions Answered in this Report:

• What are the underlying structures resulting in the emerging trends within the global automotive cybersecurity market?
• How are the automotive OEMs and automotive cybersecurity startups evolving in the industry?
• What are the estimated market values of different product types and applications in the global automotive cybersecurity market for the period 2019-2025?
• How COVID-19 is impacting the global automotive cybersecurity market?
• How is the automotive cybersecurity industry expected to evolve during the forecast period 2020-2025?
• What major developmental strategies are being implemented by the key players to sustain in the competitive market?
• What are key consumer attributes that can help ensure the market success in different countries?