PUBLISHER: Grand View Research | PRODUCT CODE: 1233065
PUBLISHER: Grand View Research | PRODUCT CODE: 1233065
The global automotive cyber security market size is anticipated to reach USD 14.22 billion by 2030, registering CAGR of 20.93% during 2022 to 2030, according to a new study by Grand View Research, Inc. As technology develops and the number of software components in an automobile rises, hackers continue to discover backdoors to remotely access vehicles.
Cyber security in vehicles is expected to be holistic, protecting both the front and back end of the network elements as well as the infrastructure used by the automobiles. However, many automotive companies are not sufficiently safeguarded while cyber security is battling for the attention with numerous other important automotive concerns.
Advanced feature vehicles include remote start, online access, and intelligent voice assistants are becoming more common. This emphasizes the necessity of safeguarding the vehicle from any cyber threats. Artificial intelligence-enhanced automotive cyber security systems are able to provide a detailed image of any potential system vulnerabilities. The proliferation of technology and automation in vehicles are leading to risks and vulnerabilities.
For instance, Dellfer entered into a partnership with DENSO which provides cyber security IoT tools for a wide range of vehicles. Through this partnership, the company aims to update crucial fixes, without an internet connection.
The industry has undergone a major transition as a result of many automobile manufacturers switching to electronic automobiles, with increased connectivity and intelligence. Electronic vehicles (EVs) rely more on technology for vehicle operations as they become more autonomous and interconnected, delivering more features and options to improve the experience of driving.
The market for automotive cyber security is anticipated to develop as a result of the factors like rising demand for the automotive cyber security, integrated car software, government standards and the imposition of mandatory cyber security requirements.
North America emerged as the second-largest automotive cyber security market and during the forecast period, the adoption of automated passenger vehicles will fuel the growth of the automotive cyber security market in North America. The automotive industry's attention has shifted to hybrid cars, which are leading the market, as a result of the growing emphasis on lowering vehicle emissions.
Moreover, due to the advancement of cloud infrastructure and framework, external cloud services are expanding at the highest rate. Considering that automated vehicles produce a significant amount of data, cloud services provide a highly- reliable technology.