Automotive Cyber Security Market Increasing Demand with Leading Key Players, Revenue Growth Analysis and Industry 2028
                     The automotive cyber security market is projected to grow at a CAGR of 16.40%, with an 
estimated market size of USD 1.8 billion in 2021 to USD 4.5 billion by 2028. The rising use 
of cutting-edge technology in the automotive industry is fueling the surge in demand for an 
effective and efficient security system. Demand will rise due to increasing cyber threats to the 
automotive and transportation industries. Increasing intercity transportation and logistics 
services will further contribute to the growth and expansion of the automobile cyber security 
market. The industry will also have greater opportunities as consumer demand for modern-
technology-equipped commercial and passenger vehicles grows along with personal income. 
The expansion of governmental standards and regulations for connected vehicles has 
influenced the adoption of cyber security in the automotive industry. Furthermore, the major 
growth inhibitor for the automotive cyber security market, however, is the high cost of 
installing the cyber security systems and the high cost of new vehicles in which the system is 
already built-in. Lack of technology development combined with a lack of awareness in less 
developed nations may further impede market development. 
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Automotive Cyber Security Market Dynamics 
 
Drivers: Increased use of electronics per vehicle and a growing number of connected 
cars 
 
A vehicle's overall weight has recently decreased because of electrification. Consequently, 
the automotive industry's demand for electronics has grown quickly. Automobiles are more 
susceptible to cyberattacks due to the growing use of electronics. Cyberattacks could target 
the electronic parts used in telematics, infotainment, engine, body, communication, and 
ADAS systems, among other uses. As a result, stakeholders have begun to spend money on 
cybersecurity technologies to provide reliable electronic platforms for cars. Increasing 
vehicle connectivity has increased a vehicle's vulnerability to cyberattacks. As a result, the 
market is expanding due to rising connected vehicle sales and increased use of electronics in 
vehicles. 
 
Restraints: Growing complexity in the electronic vehicle system 
 
Electronic driver assistance systems are becoming increasingly popular due to rising demand 
for vehicle safety in terms of accident prevention, driver safety, and sophisticated 
communication & data safety (parking, lane assist, speed regulation, blind spot detection, pre-
collision warning, etc.). The complexity of automotive electronic architectures has increased, 
giving hackers more opportunities to compromise a vehicle. These opportunities include 
automatic cooling, seat adjustment with memory, automatic tailgate opening, and 
performance control. To mitigate these issues, the hardware would need to be physically 
strengthened, and more complex software solutions, increasing implementation costs for 
OEMs and impeding market expansion. 
 
Opportunities: Introduction of electric vehicle wireless battery management system 
 
Wireless battery management systems (WBMS) have opened up a tremendous global market 
opportunity for OEMs. For the next generation of E.V.s, wBMS can reduce the volume of 
battery packs by up to 15% and up to 90% of the wiring. In addition, the battery life span is 
extended in this new system. As a result, the wireless power pack management system must 
maintain a strict security procedure. The company's new wBMS, which builds on its 
established, market-leading BMS battery cell measurement technology, integrates all 
integrated circuits, hardware, and software for power, battery management, R.F. 
communication, and a single system-level solution that offers ASIL-D safety and module-
level security by combining many system functions. As a result, it is anticipated that the 
market for cybersecurity solutions will expand along with the popularity of wBMS. 
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The service category is estimated to be the largest growth in the steam engine market 
during the forecast period 
 
The service category dominated the market. As endpoint applications like radio, mobile, and 
smart antenna are increasingly used in automobiles, there is a rising need for in-vehicle 
services. Due to the advancement of cloud infrastructure and framework, external cloud 
services are the market sector expanding at the highest rate. Since autonomous vehicles 
produce a significant amount of data, cloud services provide a highly reliable technology. 
Additionally, as the number of vehicles and gadgets connected to the cloud increases, cloud 
technology will lead to greater information sharing. 
 
ADAS & safety systems are estimated to be the largest growing market category during 
the forecast period 
 
The ADAS &safety systems segment is projected to grow the fastest during the forecast 
period. The market is now seeing ground-breaking developments in ADAS and autonomous 
driving technologies, which is anticipated to increase demand for a continuous connection 
from the car's ECU to several cloud services that improve sensor processing and subsequent 
vehicle maneuvering. 
 
The North American segment is estimated to be the largest growing market during the 
forecast period 
 
North America is the largest automotive cyber security market, projected to grow fastest 
during the forecast period. The rising demand for highly connected automobiles and the rise 
of several cybersecurity and automotive companies are the main factors driving the growth of 
the automotive cyber security market in North America. Government collaboration projects 
and initiatives from top tech companies will increase the market's size even more. For 
instance, the U.S. Department of Transportation has urged the area's automakers to 
collaborate with researchers and share their cybersecurity-related work to better prepare for 
potential vehicle-related attacks. The region's growth will also be fueled by rising 
investments and crucial actions by the local government to combat cyberattacks in the 
automotive industry. 
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Key Market Players 
 
The automotive cyber security market is dominated by a few global players and comprises 
several regional players. Some key manufacturers operating in the market are Continental 
(Argus Cyber Security), Guardknox Cyber-Technologies Ltd., Vector Informatik GmbH, 
Karamba Security, Synopsys, Upstream Security, Sectigo Limited, ESCRYPT, RunSafe 
Security, Inc., Trend Micro, Harman InternationalX Trillium Secure Inc., 
STMicroelectronics, Infineon Technologies AG, NXP Semiconductors, Bosch Mobility 
Solutions, Microchip Technology, Aptiv and Irdeto. 
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