New Study Expects Automotive Cyber Security Market to Touch US$ 1,150.6 Mn Valuation during 2018-2026

Press Release

Rapidly increasing adoption of connected car technology by automakers across the world is recognized to be a key factor driving the US$ 460 Mn automotive cyber security market over the next few years. Persistence Market Research examines the global market for automotive cyber security in detail and estimates robust growth prospects for the market over the next eight years. As per the research findings published in a recent report, titled “Automotive Cyber Security Market: Global Industry Analysis (2013–2017) and Forecast (2018–2026),” the global automotive cyber security market will exhibit a healthy CAGR of 12.1% during the forecast period, reaching a value worth US$ 1,150.6 Mn by the end of 2026.

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Regulatory Standards to Accelerate Market Expansion in the Near Future

Several countries across the world have set legal regulatory norms that penalize any act that results in partial or complete loss of data or harms data security to any extent, which is foreseen to be an important factor empowering the market for automotive cyber security on a global level. The Government of Australia mandates organizations to report data breaches, while Singapore recently updated its computer misuse and cyber security act. Japan’s cyber security basic act encourages infrastructure providers, and educational and research institutions to implement appropriate data security measures. Similarly, cyber security laws set by UAE keep a close check on all such activities that tend to hamper information or networks in any way.

Emerging Economies Poised to Develop Attractive Markets for Automotive Cyber Security Providers

Increasing popularity of autonomous and connected cars will in turn result in an amplified base of endpoint devices. According to Persistence Market Research, automotive computing makes endpoint security a moving target and eventually uplift the automotive cyber security market. Expanding connected car ecosystems and augmenting use of IoT technology will continue to create critical need for cyber security of automobiles. Developing Asian and Middle Eastern countries have been facing tremendously growing cyber threats and thus leading automakers in these regions are expected to generate strong demand for cyber security services. Leading automotive OEMs are already into manufacturing automobiles with telematics technology. In addition, technological advances adopted by these regional markets are presumed to bring in various lucrative opportunities in near future.

IBM Remains the Global Leader in Automotive Cyber Security

SecureWorks Corp., IBM Corporation, Intel Corporation, Verizon Communications, Inc., Symantec Corporation, Check Point Software Technologies Ltd., Microsoft Corporation, Sophos Ltd., Trend Micro Incorporated, and Lockheed Martin Corp. are some of the key companies leading the global marketplace for automotive cyber security. A majority of the companies have business expansion and collaborations on their agenda, whereas many of them are considering launching of innovative security solutions as a key to gain edge over competitors. IBM is currently the global leader in terms of value share, followed by Intel Corporation and Symantec Corporation.

Managed security services segment is estimated to observe robust growth at a CAGR of 12.1% over 2018-2026, followed by consulting services and unified threat management, accounting for a collective value share of around 34% by the end of 2026. Consulting and integration services, and end-point security are likely to gain higher traction in near future, primarily attributed to widespread penetration of connected devices and soaring number of cyber-attacks on industrial control systems. While consulting services segment is foreseen to thrive at the highest CAGR of over 13%, revenues through the end-point security segment is presumed to expand at a CAGR of above 12% between 2018 and 2026.

Increasing ICT Expenditure to Escalate Need for Vehicular Cyber Security 

Predominantly, significantly growing worldwide ICT spending following increasing adoption of connected devices for the Internet usage has been driving the demand for automotive cyber security. Constant innovation and launches of ICT technologies since the past few years will also continue to fuel the global automotive cyber security market in next few years. Technological development by OEMs, coupled with rapid adaptation among SMEs is anticipated to support the growth of market in near future. Increasing digitization has been spurring the incidences of cybercrimes such as cyber-attacks and threats, followed by rising awareness about the need for information security.

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Automotive Cyber Security Market : TOC

1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. Analysis and Recommendations
1.4. Wheel of Fortune

2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition

3. Market Background
3.1. Macro-Economic Factors
3.2. Forecast Factors – Relevance & Impact
3.3. Value Chain
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunity Analysis

4. Market Forecast
4.1. Market Size Projections
4.1.1. Y-o-Y Projections
4.1.2. Absolute $ Opportunity Analysis
4.1.3. Key Regulation

5. Global Automotive Cyber Security Market Analysis By Technology


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