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Asia Pacific automotive cybersecurity market generated a revenue of US$ 1,288.6 million in 2021 and is growing at a compound annual growth of 16.1% from 2017 to 2030. On the basis of significant growth rate, the market is expected to record the revenue of US$ 4,944 million by the end of the year 2030. The market growth over the forecast period reflects recovery of industry from Covid-19 and the subsequent growth trend.
Automotive cybersecurity protects the new generation of intelligent cars' communication networks, electronic systems, software and data against harm. Hackers can obtain personal information such as banking and social security data in addition to creating possibly deadly crashes. As a result, numerous businesses are developing cutting-edge automotive cybersecurity technologies to make today's and tomorrow's automobiles safer and more secure. Centri, a Washington-based autotech cybersecurity firm, for example, creates solutions for IoT-enabled devices in the automotive industry. The Centri IoTAS is a chip and mobile app that protects automobile sensors as well as data that aids automobiles in learning crucial driver navigation preferences.
The modern car is extremely advanced. It contains hundreds of microprocessors, various electronic control units and several lines of software code. Connected gadgets in automobiles include bluetooth, built-in cellular communication and Wi-Fi for remote start, find my car and a variety of other apps. Cars are also vulnerable to hackers thanks to vehicle-to-infrastructure, vehicle-to-vehicle, vehicle-to-cloud, and vehicle-to-everything technology. If a remote opponent-controlled features like automated braking and remote start, they would take on a very different character. Asia Pacific automotive cybersecurity market is analyzed for the period of 2017 to 2030, wherein 2017-2020 are historic years, 2021 is considered as the base year and 2022-2030 as forecast period. The research report offer analysis explained across 12 chapters totaling 167 pages, with 28 extensive data tables and 50 figures.
Since the last decade, cyber-attacks have been steadily increasing. However, in this epidemic era, the growing usage of work from models, along with a lack of security measures, has resulted in a large number of cyber-attacks around the world. Malware and ransomware attacks are the two most common types of cyber-attacks. Ransomware and malware assaults continue to be more common in Asia Pacific countries, with rates of 1.7 and 1.6 times greater than the rest of the globe, respectively. In 2018, the number of Ransomware assaults grew around the world. The rising acceptance of connected automobiles and the usage of digitalization in the automotive industry has increased the risk of cyber assaults in the industry. Cyber attackers may target the car and harm critical vehicle data, resulting in a significant loss for the vehicle owner.
The market opportunities in Asia Pacific automotive cybersecurity industry are thoroughly examined in this research report. Some of the key factors driving market expansion in the region include the presence of leading OEMs offering superior telematics solutions and increased awareness about the integration of electronics in connected and electrified vehicles.
Also, establishment of various organizations dealing with related cyber security issues. For instance, the first Asia Pacific Public Sector Cyber Security Council was established by Microsoft Corporation in 2021. This group includes policymakers and influencers from South Korea, Indonesia, Malaysia, Singapore, the Philippines, and Thailand, with the goal of boosting public-private partnerships in cybersecurity. Similarly, in 2019, the Japan Automobile Manufacturers Association (JAMA) established a Cybersecurity Working Group under the umbrella of its Electronic Information Exchange Committee. This organization will assist many parties, notably WP.29, in collaborating on cybersecurity issues.
The research report includes Asia Pacific automotive cybersecurity market analysis on the basis of following variables – offering, application, vehicle, security and form. It will help the individuals or businesses associated with the automotive cybersecurity market to identify the right market for their products and services. It offers a comprehensive textual and graphical analysis of dominating particulars for each segment.
The study includes a comprehensible value chain analysis, opportunities, and market dynamics. It also shows how to utilize Porter's five forces analysis to evaluate the impact of many elements on the market, such as supplier bargaining power, competitor competitive intensity, threat of new entrants, threat of substitutes and buyer bargaining power. To examine the key factors like political, economic, social, technological, legal and environmental affecting the market, the report includes a section dedicated to PESTLE analysis. Following the high-level analysis section, the report includes Covid-19 impact study and a comprehensive chapter of company profiles.
Covid-19 Impact Analysis
The new COVID-19 has a negative influence on the market for vehicle cybersecurity. For nations and corporations all across the world, the epidemic has created an unprecedented crisis. The spread of coronavirus across APAC has resulted in country-wide lockdowns, forcing individuals to stay at home and forcing businesses to allow staff to work from home in order to stem the spread of the epidemic. Organizations all over the world are preparing for a post-pandemic workplace by investing in networking technology that can adapt to shifting requirements. As businesses continue to struggle, cybersecurity is being recognized as a key strategy for keeping them safe as they go virtual and online. In addition, when emerging technologies such as machine learning, artificial intelligence, and blockchain mature, cybersecurity investment will be recognized as a distinct differentiator for organizations that provide such services. The report includes covid-19 impact study at four levels including pre-covid (2017-2019), Short Term (2020-21), Mid Term (2022-24) and Long Term (2025-30).
Due to increasing connectivity systems in the vehicles, the market has seen a significant growth. With the rise of connected cars, prospective automotive attacks are no longer restricted to carjacking; it is now possible to hack vehicles remotely, and such hacks could have disastrous consequences for road safety. Personal connectivity to the vehicle via Bluetooth, Wi-Fi, or GPS is another important feature that the majority of consumers employ. Theft or hostile access to such data would jeopardize people's privacy, allowing access to their real-time position, recording their interactions with automobile entertainment, and maybe analyzing their behavior. Furthermore, connected automobiles are part of an integrated transportation system, which might lead to data theft of personal information, false information being entered into a vehicle, and the car's entire system being shut down by overloading or short-circuiting the ECU.
Automobile manufacturers are also developing a variety of complex, active safety systems, such as lane departure warning and active cruise control, as they move closer to semi- and fully driverless vehicles. For example, after a suspected remote breach, Fiat Chrysler Automobiles (FCA) recently recalled 1.4 million automobiles. Jeep Grand Cherokee, Cherokee SUV, Dodge Ram Pickup, and other vehicles equipped with 8.4-inch touchscreen car entertainment systems are among those affected. Thus, automotive cybersecurity market is likely to develop as a result of connected vehicle adoption.
However, Automotive cybersecurity is a difficult, distributed, multi-stakeholder challenge. It's dispersed in the sense that the expertise needed to properly analyze the level of security of a specific IT system isn't always available in one place. Automotive software vendors, for example, must create software that can be integrated with components/systems manufactured by many stakeholders. They must also defend and streamline their solutions using components/systems manufactured by many stakeholders, which is difficult for cybersecurity solution providers and so restricts market growth.
The competition landscape section of the report offers in-depth analysis of key players active in the Asia Pacific automotive cybersecurity market via primary as well as secondary research that covers descriptive profiles of 26 prominent players and the list can be customized as per the reader’s research requirements. Details covered for these players include – Business Description, Product Portfolio, Company Financials and Claims, Key Details, Strategy Outlook, and Recent Developments. The players profiled in the research report include are – Aptiv, Argus Cyber Security Ltd, ARILOU Automotive Cyber Security, Capgemini, Continental AG, Denso Corporation, Escrypt, ETAS, Elektrobit Automotive GmbH, Guardknox Cyber-Technologies Ltd., HARMAN International, Honeywell International Inc., Infineon Technologies AG, Intel Corporation, Karamba Security, Lear Corporation, NXP Semiconductors, Robert Bosch Gmbh, Rockwell Automation, Saferide Technologies Ltd., SBD Automotive Ltd., Secunet, Symantec Corporation, TTTech Auto AG, UL LLC and Vector Informatik GmbH.
Segmentation Outlook of the Asia Pacific Automotive Cybersecurity Market
The objective of market report is to define, describe, and forecast the automotive cybersecurity market by providing detailed information regarding the major factors influencing the market growth and trends along with the detailed analysis of market players.
The protection of automobile electronic systems, communication networks, control algorithms, software, users and underlying data against malicious attacks, damage, illegal access, or manipulation is known as cybersecurity in the context of road vehicles. Automotive cybersecurity safeguards the next generation of intelligent vehicles.
Asia Pacific automotive cybersecurity market is growing at a CAGR of 16.1% over the forecast period.
The infotainment application accounted for the largest share in the automotive cybersecurity market.
The automotive cybersecurity market is predicted to grow with the rising cyber threat owing to increase in data and connectivity of the vehicles along with increasing adoption of connected and smart vehicles.
The market's growth may be restricted owing to factors such as highly complex ecosystem with presence of multiple stakeholders and zero-failure rate for cybersecurity applications.
United Nations Economic Commission for Europe (UNECE) for the vehicles going through type approval with regards to cyber security and International Organization for Standardization (ISO) which is a baseline for vehicle manufacturers and suppliers to ensure that cyber security risks are managed efficiently and effectively are discussed in the report.
India is growing at the highest CAGR of about 19.1% over 2022- 2030.
Asia Pacific automotive cybersecurity market is observed to have competitive in nature and is projected to shift towards consolidated nature in the forecast period.
The report covers the following segments- offering, form, security, application and vehicle type.
Wireless network segment dominated the market share in 2021 due to the rising implementation of new technologies in automotive and cybersecurity industry coupled with increasing need to ensure network security.
Some key players operating in the Asia Pacific automotive cybersecurity market include Robert Bosch GmbH, Continental AG, Denso, Harman International and Lear Corporation among others.
The key strategies adopted by market players include mergers and acquisitions, partnerships, regional expansion and new product development.
The market faced a negative impact due to sudden outbreak of covid-19 as the worldwide lockdown was observed to prevent spread of virus. Also, it negatively impacting the demand of automotive cybersecurity market in Asian region. However, as business are still struggling up, cybersecurity is being considered as a core approach to keep businesses secure as they go virtual and online.