Global Cyber Security for Cars Market
The market for connected cars is estimated to be worth USD 42.6 billion by 2018 by GSMA estimates and revenues of the same are expected to increase four-fold between 2015 and 2020. In light of this, the market for cybersecurity for connected cars is set to increase. The global market for cybersecurity for cars was estimated to be worth USD 16.85 Million in 2015 and is expected to grow to USD 1166.14 million by the end of 2020, at a CAGR of 102.62%. In the coming five years, increasing smartphone penetration, growing internet use and adoption of countless wireless connectivity solutions will bring in new opportunities for products and services that will enable the connected car market to come to fruition.
The connected cars are able to digitally connect and interact with their surroundings; not only including connectivity with other cars (vehicle-to-vehicle) but also with infrastructure (vehicle-to-infrastructure) and other devices (vehicle-to-devices). This has brought in new suites of application such as advanced safety features, personalized driving and entertainment experiences and even autonomous driving.
The internet of things (IoT) has pervaded all spheres of life most frequently in use. These include deployment of components that connect homes and units of transportation. Being connected online gives homes and cars the benefit of security from physical intruders, in a number of ways like auto alerting and auto calling authorities. However, this very ecosystem of connectivity deployed leaves both homes and cars open to security risks by another group of burglars – cyber criminals.
Although connected cars have not yet become mainstream, with most regions still experimenting with prototypes of various functionalities, an increasing number of connected cars are being purchased. They are purchased for features like enhanced GPS location and maintenance, live recording and reminders, Wi-Fi services, and fuel-efficiency.
Cybersecurity Market- Drivers
High level of research in fending off malware
Auto-correction of defunct components of the integrated software in connected cars
Increased funding for the same
Increased interest from all automobile manufacturers
Connected car add-on component manufacturers in the security of cars
However, limited ability to keep up with the evolving methods and scenario in cybersecurity and lack of effective integration into connected cars devices are some of the issues that form the bottlenecks in this market.
Some of the key functions that come under cybersecurity are the prevention of assaults on service components of the V2IoT or Vehicle to Internet of Things, jamming of signals (gadgets that do this are shabby and conveniently acquired), and prevention of transmission of counterfeit information to other connected cars, as well as their operators. As the market expands, the ecosystem for connected cars is also expected to come under the purview of cybersecurity as metro cities accommodating connected cars (called smart-cities) will have information disseminating docks which could potentially be affected by malware. Motives for cyber threat for connected cars could include theft of freights, malice and burglary.
The global market for cybersecurity of cars has been segmented by different types of software-based and hardware-based services. The market has also been segmented by regions i.e. North America, Europe, Asia-Pacific and Rest of the World.
Some of the key players mentioned in the report are:
Argus Cyber Security
Infineon Technologies AG
Key Deliverables in the Study
Market analysis for the global market for cybersecurity of cars with region specific assessment and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario and rising prospective opportunities, along with identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global market for cybersecurity of cars on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.