18 March 2021
Visiongain has published a new report on Automotive Cyber Security Market Report to 2031: Forecasts By Application (Body Control & Comfort, Infotainment, ADAS & Safety, Communication Systems, Telematics and Powertrain Systems), By Offering (Software and Hardware), By Security Type (Wireless, Application, Endpoint), By Electric Vehicle Application Type (Light Commercial Vehicle, Passenger Vehicles, Heavy Comercial Vehicle), By Form Type (External Cloud Service and In-Vehicle) PLUS Profiles of Leading Automotive Cyber Security System Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Automotive Cyber Security System market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$ xx billion by 2031. The supportive regulatory bodies imposed rules to manage vehicle data protection and increasing demand and use of electronic vehicle and these are the market driving factors.
COVID-19 Impact on Automotive Cyber Security System Market
Covid-19 has highlighted the importance of cybersecurity in automotive sector. Automotive industry has faced crisis during this pandemic where there is shortage of raw material, reduced output, slaking demand and OEM shutdown has dropped the demand in the industry. But it has been seen that automakers are working hard to revive in the market and hope to get stable in the near future.
In 2015, US regulatory board has introduced a security and privacy in your car act, under which it aims to mandate that critical software installed in the vehicle should be protected by the hackers. It also ensures that data saved and stored in the device should be protected from unauthorised access.
There is another act called National Highway Traffic Safety Administration (NHTSA) developed supporting the vehicle data security.
The introduction of new technology and autonomous vehicle has transformed to ease the commute. In recent past, Cybersecurity helped automotive users as well as OEMs. In reducing mobility, downtime and data transfer Cloud-based solution has been very efficient in the procedure. The solution for cybersecurity in vehicles varies from vehicle to vehicle and platforms provided to feature functioning. Due to increasing cloud-based solution the automakers are installing such systems in the vehicle and providing countermeasures to overcome the situation during difficulties and help the market grow double annually during 2021-2031.
The global Automotive Cyber Security System market is dominated by big players such as Robert Bosch, Continental AG, Harman International, Denso Corporation, Aptiv, Karamba Security, SafeRide Technologies, Arilou Technologies, GuardKnox and NXP Semiconductors. These companies have secure their position in the market to offer wide range of advanced assistance systems. The key strategies adopted by these companies is to sustain their market position are new technology, new product development, Contract agreement and Collaborations.
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