Automotive Cybersecurity Market Analysis

Vehicle Type (Passenger, Light Commercial, Heavy Commercial)

Passenger segment is predicted to capture automotive cybersecurity market share of around 62% by the end of 2037. The segment growth can be ascribed to the rising popularity of passenger vehicles. In wealthy nations, passenger cars are the most widely used form of transportation and have become increasingly popular among drivers in recent years due to the rising middle class and rising standards of life in emerging nations.

Attack surfaces increase as passenger vehicles connect to more networks, including the cloud (V2C), as a result, the need for automotive cybersecurity becomes increasingly evident since passenger safety and public health are seriously threatened by the possible hazards of vehicle hacking, which include the ability to disable or even crash a car.

As per the European Union, in the EU, there were 560 passenger automobiles on average for every 1,000 residents in 2022.

Propulsion Type (ICE Vehicles, Electric Vehicles)

The ICE vehicles segment in automotive cybersecurity market is set to garner substantial revenue in the coming years. The reason behind the growth of the segment can be attributed to the rising production of ICE vehicles. Contemporary ICE automobiles have a range of linked amenities installed, including WIFI connectivity, GPS navigation, and infotainment systems, and are also becoming more susceptible to cybersecurity threats, which may augment the adoption of automobile cybersecurity.

For instance, it was projected that China would produce approximately 22 million internal combustion engine (ICE) automobiles overall by 2030.

Offering (Hardware, Software)

The software segment is foreseen to generate a robust revenue share soon led by the rising integration of ADAS in vehicles. ADAS elements are being included by automakers to improve safety and give customers access to cutting-edge driver assistance resources by giving drivers real-time notifications and support. With the adoption of ADAS technologies, more than 20,840 deaths per year, or around 60% of all road deaths, might be prevented.

Smart automotive steering systems are essential for advanced driver assistance systems (ADAS) to function to incorporate functions like adaptive cruise control, automated emergency braking, and lane-keeping assistance, software and security integration to defend against unauthorized access, and maintain the integrity of communication networks, and shield antivirus software from any online dangers.

Our in-depth analysis of the automotive cybersecurity market includes the following segments: