New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "External Cloud Automotive Cyber Security Services Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06370332/?utm_source=GNW
V., Honeywell International Inc., Trillium Secure Inc., Escrypt GmbH, Vector Informatik GmbH, Karamba Security, Guardknox Cyber Technologies Ltd., Upstream Security Ltd., Nexor Ltd., and Capgemini SE.
The global external cloud automotive cyber security services market is expected to grow from $ 1.74 billion in 2021 to $ 2.12 billion in 2022 at a compound annual growth rate (CAGR) of 21.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The external cloud automotive cyber security services market is expected to grow to $ 4.14 billion in 2026 at a CAGR of 18.3%.
The external cloud automotive cyber security services market consists of sales of external cloud automotive cyber security services by entities (organizations, sole traders, and partnerships) that are useful in protecting automotive electronic systems, communication networks, algorithms, and user data from malicious attacks or unauthorized access.Cyber security is the practice of defending and protecting computers, peripheral devices, networks, and systems from malicious attacks and viruses.
Automobiles are connected to the internet and are vulnerable to cyber threats. So, automotive cyber security is essential for automakers.
The main types of security in external cloud automotive cyber security services are endpoint security, application security, and wireless network security.The different vehicle types include passenger cars and commercial vehicles.
Passenger cars are used to carry passengers.Passenger cars are road vehicles designed for the carriage of passengers, with a large seating area and luxuries.
The different electric vehicle types include battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles that are used in telematics systems, infotainment systems, powertrain systems, body control and comfort systems, communication systems, and ADAS and safety systems.
North America was the largest region in the external cloud automotive cyber security services market in 2021. The regions covered in the external cloud automotive cyber security services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising number of connected cars is expected to propel the growth of the external cloud automotive cyber security services market going forward.A connected car is a vehicle that can access the internet to connect with other vehicles through an inbuilt connectivity system.
The number of connected cars and cars with smart connectivity features has been increasing recently.These cars can access the internet, but they are also vulnerable to cyber-attacks and therefore need cyber security services.
For instance, according to the connected cars report by the Internet of Business, a UK-based technology news provider, the number of connected cars is expected to increase by 270% to 125 million cars in 2022. Therefore, the rising number of connected cars is driving the demand for the external cloud automotive cyber security services market.
Technological advancement is a key trend gaining popularity in the external cloud automotive cyber security services market.The players in the market are constantly innovating and incorporating new technologies to lead the market.
For instance, in March 2022, Wipro, an India-based information technology company, launched a Cloud Car platform equipped with an end-to-end cybersecurity system.With this, car manufacturers can address software failures via over-the-air updates.
The platform will decouple previously integrated hardware and software, enabling manufacturers to upgrade software at scale.
In September 2021, LG Electronics, a South Korea-based consumer electronics company, acquired Cybellum for $ 240 million.The acquisition would enable LG Electronics to enhance its cyber security capabilities and autonomous system offerings.
Cybellum is an Israel-based automotive cyber security company that detects vulnerabilities in in-vehicle hardware and software.
The countries covered in the external cloud automotive cyber security services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The external cloud automotive cyber security services market research report is one of a series of new reports that provides external cloud automotive cyber security services market statistics, including global market size, regional shares, competitors with external cloud automotive cyber security services market share, detailed external cloud automotive cyber security services market segments, market trends, and opportunities, and any further data you may need to thrive in the external cloud automotive cyber security services industry. This external cloud automotive cyber security services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06370332/?utm_source=GNW
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