The global automotive cybersecurity market was valued at USD 2.4 billion in 2019 and is expected to reach USD 7.5 billion by 2027, growing at a CAGR of 15.2% during 2021-2027. Driverless cars are still in emerging phase and several companies are marking efforts to commercialized is soon. Some of the renowned names in the automotive industry have already made some significant announcements, for instance, BMW will reveal its self-driving electric vehicle called BMW iNext, by 2021. All these developments in the field of automotive industry will bring numerous new opportunities for the cybersecurity service providers.
Passenger car held the larger share in the automotive cybersecurity market in 2020
On the basis of vehicle type, the market is bifurcated into passenger car and commercial vehicle. Passenger car is expected to account the higher market share in 2019 and is expected to grow at fastest rate during the forecast period with large number of tier1 and tier2 OEMs investment in enhancing security features.
Geographically, APAC, is the largest and fastest growing automotive cybersecurity market with largest number of vehicle production on yearly basis, advancing in-vehicle electronic architecture, and growing number of automotive OEMs and electronic component suppliers in the region. This will further up surge the growth of the China automotive cybersecurity market in years to come.
Some of the key players operating in the global automotive cybersecurity market are Harman International, Continental AG, Robert Bosch GmbH, Denso Corporation, Aptiv PLC, Symantec Corporation, NXP Semiconductors N.V., Honeywell International Inc., Trillium Secure Inc., and Escrypt GmbH.
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The report provides the market value for the base year 2020 and a yearly forecast till 2027 in terms of revenue (USD Million). The report segments the global automotive cybersecurity market on the basis of security type, fitting type, application, vehicle type, and region.
Global Automotive Cybersecurity Market Coverage
Security Type Insight and Forecast 2015 – 2027
Fitting Type Insight and Forecast 2015 – 2027
Application Insight and Forecast 2015 – 2027
Vehicle Type Insight and Forecast 2015 – 2027
Automotive Cybersecurity Market by Region
Rest of the World (RoW)