Automotive Cybersecurity Market worth $6.0 billion by 2028 - Exclusive Report by MarketsandMarkets™
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Automotive Cybersecurity Market Scope:
Passenger vehicle segment is expected to have largest share in the global automotive cybersecurity market
The passenger vehicles segment is anticipated to dominate the global automotive cybersecurity industry in the foreseeable future. This is owing to the rising demand for connected vehicle technology paired with the increasing sales of luxury vehicles. Also, the increasing focus towards V2X technology owing to the rising concerns over traffic, safety, as well as pollution levels is anticipated to bolster revenue growth for the passenger vehicles segment of the global automotive cybersecurity market. For instance, Audi A4 and Cadillac CTS are passenger vehicles that are equipped with V2X technology. Moreover, the rising adoption of ADAS equipped passenger vehicles is also another major factor creating the need for automotive cybersecurity solutions globally.
Endpoint security segment is expected to have significant growth opportunities in global automotive cybersecurity market
The endpoint security segment is anticipated to have significant growth opportunities in Europe and Asia Pacific during the forecast period. Rising concerns pertaining to the safety and security in Europe and Asia Pacific regions are also likely to increase the demand for endpoint security solutions. New vehicles launched in the global market contain around 100 million lines of code and are typically deployed with complex software by automotive manufacturers/OEMs. Automotive OEMs are opting for endpoint security solutions in order to maintain the safety as well as security of a vehicle's entire code base. All these aforementioned factors are expected to augment revenues for endpoint security segment of the automotive cybersecurity market in the foreseeable future.
"Germany to lead the automotive cybersecurity market in
Europe"
Germany is the largest automobile market in Europe. It is one of the most advanced and innovative automotive industries in the world. It is known for its engineering excellence and presence of automotive players such as Volkswagen, Audi, Mercedes-Benz, and Daimler, among others. In addition, Germany is one of the leading vehicle manufacturers in Europe, owing to the presence of OEMs and tier 1 companies. Luxury vehicle manufacturers like BMW, Volkswagen, and Mercedes Benz have their head offices in Germany. Germany is one of the countries in Europe to have agreed to follow WP.29 regulations for automotive cybersecurity, which will help accelerate the demand for automotive cybersecurity solutions in the country during the forecast period.
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Key Market Players:
The automotive cybersecurity companies are Robert Bosch GmbH (Germany), Continental AG (Germany), Harman International (US), DENSO Corporation (Japan), and Aptiv PLC (Ireland), among others. These companies have adopted strategies of new product development, expansions, collaborations, partnerships, and acquisitions to gain traction in the market. Collaborations were the most adopted strategy, among others.
Recent Developments:
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Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting
Related Reports:
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Connected Car Market - Global Forecasts to 2026
Automotive Software Market - Global Forecasts to 2027
ADAS Market - Global Forecasts to 2030
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