Automotive Cybersecurity Market to Reach USD 8.61 Billion By 2027 | CAGR of 21.7%: Emergen Research

Automotive Cybersecurity Market to Reach USD 8.61 Billion By 2027 | CAGR of 21.7%: Emergen Research

PR Newswire

VANCOUVER, BC, Sept. 22, 2020

- The growth of the market is attributed to the increasing number of connected cars, especially in the EV segment and vehicle data protection mandates by regulatory bodies

- Market Size – USD 1.79 Billion in 2019, Market Growth - CAGR of 21.7%, Market Trends – Growing Cloud-Based Applications in the Automotive Industry

VANCOUVER, BC, Sept. 22, 2020 /PRNewswire/ -- The Global Automotive Cybersecurity Market is projected to reach USD 8.61 billion by 2027, according to a recent report by Emergen Research. The market is driven by high-level package integration into vehicle ECUs, and therefore the want for cybersecurity in connected cars has been magnified. Additionally, demanding knowledge privacy laws resulting in increasing demand for automotive cybersecurity is anticipated to spice up the expansion of the market additionally.

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Security issues within the automotive business have come up in conjunction with Automotive Cybersecurity and connected cars around the corner. This has resulted in an associate multiplied level of cyber-attacks within the automotive business that has fueled the requirement for automotive cybersecurity systems. The vehicle comprising of assorted electrical parts that ideally is connected through an inside network is well accessible to hackers. The hackers might take complete management of safety-critical parts like engines or brakes by gaining access to a tangential electronic management unit. Thus, with the increasing quality of connected vehicles, the auto-makers square measure operating in association with net service suppliers and package firms to supply cybersecurity systems to the users. The growing incorporation of advanced options and the growing adoption of telematics services in vehicles also are powerfully boosting the enlargement of the worldwide automotive cybersecurity market.

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Key Highlights From The Report

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For the purpose of this report, Emergen Research has segmented the Global Automotive Cybersecurity Market on the basis of vehicle type, application, security type, and region:

Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)

Application Outlook (Revenue, USD Billion; 2017-2027)

Security Type Outlook (Revenue, USD Billion; 2017-2027)

Regional Outlook (Revenue: USD Billion; 2017-2027)

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