Global $1.26 Billion Automotive Cybersecurity (Passenger & Commercial) Markets, 2018-2019 & 2019-2029

DUBLIN, Aug. 14, 2019 /PRNewswire/ -- The "Global Automotive Cybersecurity Market: Focus on Cybersecurity Solution for Passenger Vehicles and Commercial Vehicles and Automotive OEMs Spending on Cybersecurity - Analysis and Forecast, 2019-2029" report has been added to ResearchAndMarkets.com's offering.

The Automotive Cybersecurity Industry Analysis projects the market to grow at a significant CAGR of 14.25% during the forecast period from 2019 to 2029. The automotive cybersecurity market size is estimated at $1.26 billion in 2018. The APAC region dominated the global automotive cybersecurity market in 2018, and it is expected to have the highest growth rate during the forecast period.

Factors such as rising safety and security concerns, increasing demand for a reliable transportation system, and the advent of innovative trends, such as the transition from car ownership to Mobility-as-a Service (MaaS) are expected to increase the demand for connected and autonomous vehicles.

This demand is also anticipated to create significant challenges for automotive stakeholders and consumers in terms of cybersecurity risks, data theft, and involvement of unscrupulous agents within the automotive value chain, which further boosts the demand for automotive cybersecurity solutions.

Moreover, the introduction and subsequent growth of sales of electric and hybrid vehicles, the development of connected & ADAS and self-driving technologies, the increasing demand for connected vehicles and disruptive trends, such as ide-hailing, car-sharing, and in-car payments are expected to change the way mobility services are used.

Scope of the Market Intelligence on Global Automotive Cybersecurity Market

The report constitutes an in-depth study of the global automotive cybersecurity market, including a thorough analysis of the types of products and vehicle type. The study also presents a detailed analysis of the market dynamics and the estimation of the market size over the forecast period 2019-2029.

The scope of this report is focused on the different product type and vehicle type catering to automotive cybersecurity for different regions. The industry analysis presents a detailed insight into the major market players in the global automotive cybersecurity market using the value chain analysis.

Market Segmentation

The automotive cybersecurity market segmentation (on the basis of product type) is further categorized into intrusion detection system (IDS) and intrusion detection and prevention system (IDPS). The IDPS dominated the global automotive cybersecurity market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2029).

The automotive cybersecurity market segmentation on the basis of vehicle type is segregated into passenger vehicles and commercial vehicles. The passenger vehicles segment dominated the global automotive cybersecurity market in 2018 and is anticipated to maintain its dominance throughout the forecast period.

Market Dynamics

Market Drivers

• Increasing Number of Connected Vehicles
• Growing Emphasis Toward Road Safety
• Increasing Government Focus on Streamlined Traffic Infrastructure
• Increasing Push from Governments to Develop Connected and Autonomous Infrastructure
• Rising Cyber Threat Owing to Increase in Data and Connectivity of the Vehicles
• Increasing Number of Electronic Component in the Vehicle

Market Restraint

• Highly Complex Ecosystem With Presence of Multiple Stakeholders

Market Opportunities

• Increasing Implementation of MaaS and Vehicle Platooning
• Increasing Application of Automotive Cloud to Store and Share Data and Over-the-Air Software Update
• High Demand for Advance Cybersecurity Solution with Increase in Level of Autonomy

Companies Mentioned

• Audi
• BMW
• Daimler AG
• Ford
• Nissan
• Renault
• Toyota

For more information about this report visit https://www.researchandmarkets.com/r/vwsbch

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