Global Automotive Cybersecurity Market 2017-2021
About Automotive Cybersecurity
The global automotive cyber security market is driven by the increasing demand for connected vehicles. Connected vehicles have direct internet access through either an inbuilt modem or a plug-in modem. Connected cars do a better job of keeping the driver updated about the traffic, accidents, road warnings, and speed limits. In addition, they provide improved convenience and assistance to the drivers. Connected cars witnessed a higher level of innovation in terms of infotainment systems and safety assistance technology.
Technavio’s analysts forecast the global automotive cybersecurity market to grow at a CAGR of 27.99% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive cybersecurity market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Cybersecurity Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive cybersecurity market: Argus Cyber Security, HARMAN International, Karamba Security, and Symantec.
Other Prominent Vendors in the market are: Arilou Cyber Security, ESCRYPT, Honeywell International, RunSafeSecurity, secunet Security Networks, and Vector Informatik.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is collaboration between connected vehicle manufacturers and ICT industry. The transition from traditional vehicles to connected and self-driving vehicles is bringing unprecedented new innovations and options to transportation and to other sectors. The greatest risk faced by the evolving technology is a cyber intrusion. If left unaddressed, these have the potential to hamper the growth of connected and self-driving vehicles.”
According to the report, one driver in the market is need for cybersecurity in growing connected car market. The growth of the automotive cybersecurity market is dependent on the need for security in the connected cars. There are about 70 ECUs inside a modern vehicle and over 100 ECUs in high-end vehicles. These ECUs are internally connected by controller area network (CAN). CAN was initially designed for closed vehicular systems and security was not considered in the specification of CAN protocol topology. This weakness has enabled hackers to hack into the system successfully. The increasing probability of hacking increases the demand for the inclusion of security mechanisms that isolate the safety critical ECUs from non-safety-critical ECUs.
Further, the report states that one challenge in the market is price sensitivity and low consumer acceptance to prolong adoption in emerging markets. Growing markets such as China and India are currently the largest markets for the automotive industry, but the market for connected cars is growing at a slower pace due to the price sensitivity of the market. Connected cars are equipped with ADAS systems and in-built modem for internet connectivity. These features lead to an increase in price, which makes cars unaffordable for a majority of the population. By the end of 2016, about 43 million people in China and 224 million people in India were living below poverty line. Only a fraction of the population in these countries could afford to buy cars with ADAS systems and connected cars, which marks them as slow adopters in case of connected cars.
Argus Cyber Security, HARMAN International, Karamba Security, and Symantec, Arilou Cyber Security, ESCRYPT, Honeywell International, RunSafeSecurity, secunet Security Networks, and Vector Informatik.
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