TMCnet News
Automotive Cybersecurity Market worth $6.0 billion by 2028 - Exclusive Report by MarketsandMarkets™CHICAGO, June 23, 2023 /PRNewswire/ -- Automotive Cybersecurity Market size is projected to grow from USD 2.5 billion in 2023 to USD 6.0 billion by 2028, at a CAGR of 18.5%, according to a new report by MarketsandMarkets™. The demand for automotive cybersecurity solutions is fueled by the increased use of electronics per vehicle, a growing number of connected cars, reinforcement of mandates by regulatory bodies for vehicle data protection, significantly growing global automotive V2X market, and the rising sales of electric vehicles globally.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=170885898 Browse in-depth TOC on "Automotive Cybersecurity Market". 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. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id= 170885898 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:
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id= 170885898 Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting Related Reports: V2X Cybersecurity Market - Global Forecasts to 2028 Connected Car Market - Global Forecasts to 2026 Automotive Software Market - Global Forecasts to 2027 ADAS Market - Global Forecasts to 2030 About MarketsandMarkets™: MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
|
View original content: