Global Automotive Cybersecurity Market to Reach US$ 14.2 Billion by 2032, Impelled by Shared Mobility

April 17, 2023 | Automotive Industry

According to the latest report by IMARC Group, titled "Automotive Cybersecurity Market Report by Security Type (Application Security, Wireless Network Security, Endpoint Security), Form (In-Vehicle, External Cloud Services), Vehicle Type (Passenger Car, Commercial Vehicle, Electric Vehicle), Application (ADAS and Safety, Body Control and Comfort, Infotainment, Telematics, Powertrain Systems, and Others), and Region 2024-2032," the global automotive cybersecurity market size reached US$ 3.2 Billion in 2023. Automotive cybersecurity refers to the protection of in-vehicles computer systems from cybercriminals. It offers improved safety by preventing unauthorized access to safety-critical systems, such as brakes, steering, and airbags. It also helps in protecting personal data, such as personal preferences, location, and address, from hacking. As a result, automotive cybersecurity facilitates secure communication, authentication and authorization, resilience, intrusion detection and prevention, and real-time monitoring and finds application in infotainment, telematics, and powertrain systems of vehicles. 

Global Automotive Cybersecurity Market Trends:

At present, the burgeoning automotive sector and increasing adoption of advanced driver assistance systems (ADAS), shared mobility, and self-driving cars, for improving safety and comfort represent one of the key factors positively influencing the market across the globe. In addition, as the ecosystem is getting more linked, the connectivity of vehicles with traffic signals, parking meters, and other vehicles is exposing new vulnerabilities for user privacy and integrity of automotive data, which, in turn, is catalyzing the demand for automotive cybersecurity worldwide. Apart from this, shifting consumer preferences towards automobiles with open application programming interfaces (APIs) that facilitate a seamless flow of data across mobility systems is offering lucrative growth opportunities to key market players. Apart from this, governments of various countries are undertaking favorable initiatives to ensure the safety and security of vehicles from cyber attacks. They are also introducing regulatory guidelines and collaborating with automakers and other stakeholders to develop common standards and best practices for automotive cybersecurity, which is stimulating the market growth worldwide. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 14.2 Billion by 2032, exhibiting a CAGR of 17.68% during 2024-2032.

Market Summary:

  • Based on the security type, the market has been segregated into application security, wireless network security, and endpoint security. At present, wireless network security accounts for the majority of the total market share.
  • On the basis of the form in-vehicle holds the largest share of the market, followed by external cloud services.
  • Based on the vehicle type, the market has been classified into passenger car, commercial vehicle, and electric vehicle. Presently, passenger car dominates the market.
  • On the basis of the application, the market has been categorized into ADAS and safety, body control and comfort, infotainment, telematics, powertrain systems, and others. At present, Infotainment exhibits a clear dominance in the market. 
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Aptiv PLC, Capgemini SE, Continental AG, DENSO Corporation, GuardKnox, HARMAN International (Samsung Electronics Co. Ltd.), Karamba Security Ltd., NXP Semiconductors N.V., Upstream Security Ltd., and Vector Informatik GmbH.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Security Types Covered Application Security, Wireless Network Security, Endpoint Security
Forms Covered In-Vehicle, External Cloud Services
Vehicle Types Covered Passenger Car, Commercial Vehicle, Electric Vehicle
Applications Covered ADAS and Safety, Body Control and Comfort, Infotainment, Telematics, Powertrain Systems, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Aptiv PLC, Capgemini SE, Continental AG, DENSO Corporation, GuardKnox, HARMAN International (Samsung Electronics Co. Ltd.), Karamba Security Ltd., NXP Semiconductors N.V., Upstream Security Ltd., Vector Informatik GmbH, etc.
Customization Scope 10% Free Customization
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Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Automotive Cybersecurity Market to Reach US$ 14.2 Billion by 2032, Impelled by Shared Mobility
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