Chicago, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Automotive Cybersecurity Market size is projected to grow from USD 2.0 billion in 2021 to USD 5.3 billion by 2026, at a CAGR of 21.3%, according to a new report by MarketsandMarkets™. Increasing demand for connected vehicles and semi-autonomous vehicles has led to a growing demand for connected devices in automobiles. This increased the complexity of vehicle E/E architecture and software codings, which led to automobiles being more vulnerable against a cyber-attack. Thereby, to safeguard the vehicles from such kind of attack the market of automotive cybersecurity solutions has been developing at a rapid pace. Automobile safety and connectivity are gradually becoming a major feature in mid-priced and luxury automobiles. This will increase the demand for automotive cybersecurity solutions in these vehicles. Moreover, the recent launch of UNECE WP.29 regulation and “Auto Data” regulation are further expected to accelerate the markets growth momentum in the coming years globally.
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The communication segment is expected to be one of the fastest growing in the global automotive cybersecurity market
The communication system among the vehicle ECUs is the most critical part of the whole architecture in a vehicle. Therefore, standardized, high-performance communication interfaces and communication protocols are required to support the growing volume of data shared across automotive networks with encryption. The major communication protocols for in-vehicle communication are LIN, CAN, FlexRay, MOST, and Ethernet. The modern automotive networks use a combination of LIN for low-cost applications, primarily in body electronics; CAN is used for mainstream powertrain and body communications; MOST is used in luxury vehicles for infotainment and ADAS-related features based on cameras; FlexRay bus is used for high-speed synchronized data communications in advanced systems for safety features of the vehicle; and Ethernet is mostly used in ADAS functions. Moreover, each ECU needs a cybersecurity patch as per the type of protocol used to communicate. V2X cybersecurity is also considered under this market segment. ECUs required for an in-vehicle communication system and V2X are most vulnerable to cyberattacks. Thus, ongoing advancement in vehicular communication would result in higher demand for cybersecurity solutions in years to come.
ADAS and safety is expected to be the largest market by security type in global automotive cybersecurity market
The ADAS & safety systems ensure the overall safety of the driver as well as passengers. These systems include adaptive cruise control, blind-spot detection, lane departure warning, automatic emergency braking, and park assist. They also include basic safety systems such as Anti-Lock Braking System (ABS), Tire Pressure Monitoring System (TPMS), and electronic stability control. ADAS ECUs are considered one of the complex ECUs to design, manipulate, and even protect from cyberattacks. Even a small manipulation in the ADAS & safety ECUs could result in the loss of vehicle occupants’ privacy and security. The regulatory bodies of several countries have mandated the use of basic safety features and ADAS functions in vehicles. Government mandates, along with the increasing awareness of vehicle safety, are expected to fuel the demand for ADAS & safety systems. Considering the rapid development and deployment of ADAS features in passenger cars, the demand for automotive cybersecurity solutions in this segment is expected to remain strong throughout the forecast period.
In-vehicle segment is expected to dominate the global automotive cybersecurity market
An average vehicle has around 60 to 70 ECUs installed in it whereas, a vehicle with complex electronic architecture can have more than 100 ECUs. OEMs and tier 1 companies are looking forward to integrating ECUs and domain controllers for various applications. The overall safety of vehicles mainly relies on real-time communication between various ECUs. In addition to this, the features in automotive vehicles such as automatic braking and remote start would have an impact on different scales if these were under the control of remote adversaries. ECUs can predict crashes, detect skids, and perform anti-lock braking. ECUs communicate with each other via communication protocols such as LIN, CAN, FlexRay, MOST, and Ethernet. Modern automotive networks use a combination of LIN for low-cost applications primarily in body electronics; CAN is used for mainstream powertrain and body communications; MOST is used in luxury vehicles for infotainment and ADAS-related features based on cameras; FlexRay bus is used for high-speed synchronized data communications in advanced systems for safety features of the vehicle; and emerging Ethernet has its applications in every system, but it is mostly used in ADAS functions. Hackers can hack the vehicle by manipulating CAN nodes via the CAN network and sending signals to ECUs to perform unauthorized actions inside vehicles. OEMs and automotive cybersecurity solution providers are currently working toward developing security solutions and are at an early stage of designing electronic content. The US National Highway Traffic Safety Administration (NHTSA) has suggested a multilayer automotive cybersecurity approach/practice to curtail cyberattacks. NHSTA has provided several recommendations with reference to fundamental vehicle cybersecurity protections. This, in turn, is likely to augment revenues for the in-vehicle segment.
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Asia Pacific is expected to be the largest market during the forecast period
Asia Pacific is estimated to account for the largest market share in 2021, followed by Europe and North America. The rising awareness of active and passive safety features among people and increasing sales of mid-sized and luxury vehicles are the key factors driving the Automotive Cybersecurity Market in Asia Pacific. China is expected to be the most influential factor in the Asia Pacific V2X cybersecurity market in terms of value. The large market share of China can also be attributed to the high sales of the Mercedes-Benz E-Class, which is equipped with V2X, especially V2C and V2I. Also, the increasing adoption of electric vehicles will result in the increased demand for V2X technologies, such as V2P and V2G, which are quite suitable for electric vehicles. Moreover, growing norms for passive vehicle safety and vehicle emission would boost the market for automotive control units in the next few years. This is expected to create opportunities for stakeholders in the automotive cybersecurity ecosystem. All these factors will make Asia Pacific a leader in the global Automotive Cybersecurity Market during the forecast period.
Several OEMs have shifted their automobile manufacturing plants to emerging countries because of low labor costs, ease of doing business, and the availability of raw materials. Several well-known semiconductor companies have their manufacturing hubs in the Asia Pacific region as well. This helps them maintain an effective supply chain of their products for the automakers. The growth of the connected vehicle market in the Asia Pacific region is expected to boost the demand for automotive cybersecurity. As the number of connected vehicles increases, the demand for cybersecurity in these vehicles would also increase. A key growth driver for the connected car technology in Asia Pacific is the increased demand for infotainment and navigation services in China and India, where the demand for a better and connected driving experience is witnessing a rise. The Chinese government is committed to the growth of IoT with a great emphasis on the development of connected cars and has already invested more than USD 10 billion in the IoT industry since October 2010. The evolution of automotive telematics in Japan dates to 1997 when Toyota sold its first telematics solution in the country. The country has witnessed increasing sales of vehicles equipped with connected car features, which is expected to accelerate the growth of the automotive cybersecurity market.
Key Market Players
The Automotive Cybersecurity Market is dominated by global players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Harman International (US), DENSO Corporation (Japan), Aptiv PLC (Ireland), Karamba Security (Israel), SafeRide Technologies (Israel), Arilou Technologies (Israel), GuardKnox Cyber Technologies Ltd. (Israel), Upstream Security Ltd. (Israel), and Green Hills Software. These companies have adopted strategies of new product development, expansions, collaborations, partnerships, and acquisitions to gain traction in the market. Collaborations were the most adopted strategy, among others.
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