NEW YORK, Feb. 14, 2020 (GLOBE NEWSWIRE) — The global automotive cybersecurity market was valued at USD 2.4 billion in 2019 and is expected to reach USD 6.0 billion by 2025, growing at a CAGR of 14.9% during 2020-2025.
Industry Insights by Security Type (Endpoint Security, Application Security, and Wireless Network Security), by Fitting Type (In-Vehicle and External Cloud), by Application (Telematics System, Infotainment System, Powertrain System, Body Control & Comfort System, Communication System and ADAS & Safety System), by Vehicle Type (Passenger Vehicle and Commercial Vehicle)
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.
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Passenger car held the larger share in the automotive cybersecurity market in 2019
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.
Explore key industry insights in 63 tables and 40 figures from the 183 pages of report, “Global Automotive Cybersecurity Market Analysis and Forecast to 2025 – Industry Insights by Security Type (Endpoint Security, Application Security, and Wireless Network Security), by Fitting Type (In-Vehicle and External Cloud), by Application (Telematics System, Infotainment System, Powertrain System, Body Control & Comfort System, Communication System and ADAS & Safety System), by Vehicle Type (Passenger Vehicle and Commercial Vehicle)“
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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Key Takeaway from the Report:
- Among all the security type, endpoint security segment …
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