PUBLISHER: BIS Research | PRODUCT CODE: 1682227
PUBLISHER: BIS Research | PRODUCT CODE: 1682227
Market Lifecycle Stage
The automotive cybersecurity market is still in a nascent phase. Latest advancements in connected and autonomous vehicles and the growing number of electronic control units (ECUs) in electric vehicles are majorly responsible for the rapid growth of this market. Automotive cybersecurity solution providers are increasingly partnering with other key stakeholders in the automotive cybersecurity ecosystem to expand their global footprint. Moreover, the rising number of cyber-attacks is increasingly impacting automotive original equipment manufacturers (OEMs), resulting in significant financial losses. Leading automotive OEMs have also been working on automotive cybersecurity solutions in-house to provide an extra or added layer of vehicle security for their offerings. With increased adoption of connected vehicles being anticipated during the forecast period, the competition among established and emerging companies in the automotive cybersecurity solutions market is likely to continue growing to maintain leading market positions in the automotive cybersecurity industry.
Impact:
The automotive cybersecurity market is driven by several factors, such as the rising number of ECUs in electric vehicles for enhanced performance and increased sophistication, the increasing number of cyber-attacks in the automotive industry, and the growing adoption of connected and autonomous vehicles.
Automotive cybersecurity solution providers are partnering with other key stakeholders and investing significantly toward the development of advanced automotive cybersecurity solutions to mitigate the growing number of cyber-attack vectors. With growing concerns regarding vehicle security amongst automotive OEMs, the automotive cybersecurity market is expected to grow significantly during the forecast years.
Market Segmentation:
Segmentation 1: by Application
Segmentation 2: by Vehicle Type
Segmentation 3: by Level of Autonomy
Based on application, the advanced driver assistant system (ADAS) and safety system segment dominated the global automotive cybersecurity market in 2024. This was due to the growing penetration of ADAS in mid and high-end vehicles and the high importance of ADAS and safety systems in partially and fully autonomous/driverless vehicles. Based on vehicle type, the passenger vehicle segment accounted for a majority stake in the automotive cybersecurity market in 2024, owing to the rapid adoption of cybersecurity solutions in passenger cars for vehicle security. Based on the level of autonomy, the Level 2 segment dominated the automotive cybersecurity market in 2024, owing to the growing number of vehicles with Level 2 autonomy that use automotive cybersecurity solutions.
Segmentation 4: by Security Type
Segmentation 5: by Form
Based on security type, the software security segment dominated the global automotive cybersecurity market in 2024. This was due to the increasing focus of automotive OEMs on software-defined vehicle approaches and growing attack vectors against software solutions used in vehicles. Based on form, the in-vehicle segment dominated the automotive cybersecurity market in 2024. This was due to the lack of cloud infrastructure required for external cloud services in developing and even some of the developed markets. However, the external cloud services segment is expected to register faster growth during the review period.
Segmentation 6: by Region
Europe held the largest market share in the automotive cybersecurity market in 2024. The region is one of the largest markets for connected and autonomous vehicles and is home to some of the major players operating in the automotive cybersecurity market. Moreover, the adoption of automotive cybersecurity regulations, primarily by the European Union (EU) member nations, is further expected to boost the growth of the market in the region. These regulations are aimed at paving the way for connected and autonomous vehicles (CAVs) and dealing with the cybersecurity threats associated with connected vehicles.
Over the next decade (2025-2034), the Europe region is expected to continue being the leading market for automotive cybersecurity solutions. However, the China automotive cybersecurity market is expected to grow at the fastest rate during the review period.
Recent Developments in the Automotive Cybersecurity Market
Demand - Drivers and Limitations
Following are the demand drivers for the automotive cybersecurity market:
Following are the challenges for the automotive cybersecurity market:
How can this report add value to an organization?
Product/Innovation Strategy: Globally, the leading and emerging automotive cybersecurity solution providers are continuously working to make their vehicles more secure than ever. The threat of unauthorized access and vehicle data theft are among some of the most talked about concerns in the automotive cybersecurity industry. The players operating in the automotive cybersecurity market have been working on the development of advanced vehicle cybersecurity solutions using artificial intelligence (AI), machine learning (ML), blockchain, and hardware authentication technologies and techniques. These innovative automotive vehicle cybersecurity solutions are expected to mitigate the growing number of cyber-attacks on vehicles.
Growth/Marketing Strategy: The automotive cybersecurity market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are product launches, partnerships, collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include product launches, partnerships, and collaborations.
Competitive Strategy: The key players in the automotive cybersecurity market analyzed and profiled in the study include automotive cybersecurity solution providers that develop, maintain, and market automotive cybersecurity solutions. Moreover, a detailed competitive benchmarking of the players operating in the automotive cybersecurity market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names in this market are:
Private Companies
Public Companies
Start-Ups Operating in the Automotive Cybersecurity Market Ecosystem
Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).
Scope and Definition
Market/Product Definition
Key Questions Answered
Analysis and Forecast Note