Europe Automotive Cybersecurity Market Stats from 2022-2031 | BIS Research

The Automotive Cybersecurity Industry to grow at a significant CAGR of 14.25% by 2029.

The automotive industry currently experiences substantial investments in research and development (R).Automotive cybersecurity solution providers are offering two types of solution, namely intrusion detection system (IDS) and intrusion detection and prevention system (IDPS).The IDPS segment dominated the global automotive cybersecurity market, accounting for around 80.00% of the total market in 2018 and is anticipated to maintain its dominance throughout the forecast period.

The IDPS-based automotive cybersecurity solution market was valued at $1.01 billion in 2018 and is anticipated to reach $5.17 billion by 2029, growing at a CAGR of 14.96% from 2019 to 2029.

This is mainly due to advantages of IDPS over IDS such as preventing vulnerability exploits, blocking-in foreign codes, ensuring zero false positives, not requiring connectivity, having negligible performance impact, and not requiring anti-malware updates.

Additionally, rise in the demand for high-end passenger cars in North America and Europe, which include connected and ADAS features such as V2X communication, adaptive cruise control, lane departure warning, drowsiness monitoring, among others is anticipated to boost the demand for automotive cybersecurity.

All these systems work with the integration of number of sensors and ECU; hence, these systems require advance cybersecurity solution such as IDPS for the prevention of cyber-attacks.Automotive OEMs and self-driving technology providers are developing connected and autonomous passenger vehicles as well as commercial vehicles.For Report Sample, Click here: https://bisresearch.com/requestsample?id=729=download The commercial vehicle cybersecurity market was valued at $322.0 million in 2018 and is anticipated to reach $1.77 billion by 2029, growing at a CAGR of 15.72% from 2019 to 2029.

According to the new market research report "Automotive Cybersecurity Market By Offering (Software & Hardware), Application Type, Form Type (In-Vehicle & External Cloud Services), Security Type, Vehicle Type (Passenger Vehicles, LCV & HCV), EV Application Type, And Region – Global Forecast to 2025" Published by MarketsandMarkets™, The global Automotive Cybersecurity Market size is projected to grow from USD 1.9 billion in 2020 to USD 4.0 billion by 2025, at a CAGR of 16.5%.Increased use of electronics per vehicle and a growing number of connected cars, and reinforcement of mandates by regulatory bodies for vehicle data protection are key factors that will drive the market for Automotive Cybersecurity Market.

OEMs and tier 1 players are either using cash reserves or acquiring funds to continue operations during the crisis.

OEMs can focus on providing better services and gain customer loyalty by meeting customers’ requirements.

Passenger vehicles will be capable of exchanging data and alerting drivers of potential dangers.

These vehicles will also be able to interact with sensors on road signs on stoplights, bus stops, and even the ones embedded in the roads to get traffic updates and rerouting alerts.Increasing installation of telematics devices and push by government authorities to adopt telematics is driving the Telematics segment in the Automotive Cybersecurity MarketThe market for Telematics is primarily driven by multiple factors such as an increase in the number of accidents, rising vehicle thefts, security issues while travelling, and the demand for navigation services.

This eventually leads to a reduction in vehicular thefts.

With the growth and development in the connected car sector, it is evident that the risks involved in the internet-connected automotive can be a reason for the people to stop investing in this sphere.

This is done to ensure that the people relying on the connected car technology continue to leverage the services for a unified global objective of sustainable development.The prospect market share of autonomous vehicles has skyrocketed in the past decade.

One of the largest global players in the automotive cyber security sector is HARMAN Connected Services.The company has devised HARMAN Shield to ensure the most comprehensive Intrusion Detection and Prevention Solution (IDPs).

It is fully equipped with backend reporting capabilities and over-the-air updates that keep the software system regularly updated.HARMAN SHIELD Smart Client – It is a centralised unit that automatically configures, coordinates, and manages the computer system and software.

It provides a smart analysis of data and reports the system configuration to the backend.Cybersecurity Analytics Center – It is a comprehensive dashboard that provides 24/7 analytics of the vehicle fleet.

The dashboard keeps track of all the activities in different vehicle and SHIELD components and sends the updates to the owner.API for 3rd party integrations – Automotive Security System can be integrated with the Security Operation Center (SoC), Security Incident and Event Management (SIEM) solutions that provide all-around security of the vehicle.With this advanced car cyber security system in place, the owner can rest assured of:Risk and Vulnerability Assessment: The solution runs a complete Threat Analysis (TA) to check vehicle health and security systems.

 The global Automotive Cybersecurity Market is projected to reach USD 8.61 billion by 2027, according to a recent report by Emergen Research.

Additionally, demanding knowledge privacy laws resulting in increasing demand for automotive cybersecurity is anticipated to spice up the expansion of the market additionally.The latest research report by Emergen Research, named ‘Global Automotive Cybersecurity Market - Forecast to 2027’, entails a comprehensive review of the global Automotive Cybersecurity market’s present and future trends.

The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period.

The study also includes significant information pertinent to the Automotive Cybersecurity industry, particularly the current COVID-19 scenario.To learn more details about the Global Automotive Cybersecurity Market report, visit @ https://www.emergenresearch.com/industry-report/automotive-cybersecurity-marketMarket Drivers:The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years.

The report studies the extensive business expansion plans and advancements in R activities and product portfolio.

The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market.

Automotive Cyber Security Market is expected to grow at approximately USD 32 Million by 2023, at 9% of CAGR between 2019 and 2023. cybersecurity in automotive market, By Security Type (Cloud Security, Endpoint Security, Wireless Security, Application Security), By Vehicle Type (Passenger Cars), By Application (Communication Channels, Safety Systems) and Regional Forecast 2023.Automotive Suspension System Market: Key PlayersSome of the prominent contenders in the automotive cyber security market include – Intel Corporation (U.S.), Argus Cyber Security (Israel), Harman International Industries, Inc. (U.S), Karamba Security (Israel), NNG Software Developing and Commercial Llc.

It is likely that competing solutions will be developed by these key players in the automotive cyber security market.Get Free Sample "Automotive Cyber Security Market Research Report – Global Forecast to 2023" at:https://www.marketresearchfuture.com/sample_request/2970Market Insights:Market Research Future (MRFR)’s report projects a 9% CAGR for the global automotive cyber security market during the forecast period.

The report’s findings show how the growth of the automotive industry is prompting the need for more efficient automotive cyber security.The need for automotive cyber security is on the rise and by 2020, it is expected that most cars shipped globally will be able to connect to the internet through embedded, tethered or smartphones and other smart devices.

Commercial vehicles are also appropriating relevant technology to use this connectivity to help in furthering efficiency in business and driving practices.Connectivity has been found to increase vehicular productivity and reduce fuel costs as well as provide a better transport experience that affects vehicles.

This further confirms a significant growth of the automotive cyber security market soon.Market SegmentationOn the basis of security type, the market has been segmented into network, endpoint, application, wireless and Cloud.

Regional analysisBased on region, the automotive cyber security market has been segmented into North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW).