Europe Automotive Cybersecurity Market 2021-2030

Europe Automotive Cybersecurity Market 2021-2030

Bonafide Trust 30-07-2022 187 Pages Figures : 76 Tables : 90
Region : Europe Category : Automotive & Transport Automotive Parts

Europe automotive cybersecurity market accounted for $403.45 million in 2020 and will grow by 20.2% annually over 2020-2030 owing to the rising need for cybersecurity among smart vehicles, self-driving cars and connected transportation.  Factors such as the rising demand for improved safety features in vehicles, increasing adoption of connected vehicles, and existence of supportive government regulations are expected to boost the demand for automotive cybersecurity solutions. Key players across regions are investing heavily in the development of telematics and improving and adding safety features, which is expected to benefit the market during the forecast period. The development of vehicle connectivity has made a vehicle more prone to cyberattacks. The in-vehicle applications are getting more complex with the increase in the use of ECU and software with 30 million to 40 million lines of code. Thus, the security of each software code line is essential. According to industry experts, a large share of new cars would be connected to networks by 2022. Therefore, many OEMs and security solution providers are taking steps to counter cyber threats. However, every secured design would not guarantee full security over a period. Hence, there is a need for the consistent implementation of security codes in connected vehicles. Accordingly, OEMs are focusing on minimizing the chances of security lags and making software patches more secure through the cloud. Hence, the market for automotive cybersecurity is expected to grow with the rise in the number of connected cars in the coming years. The introduction of wireless battery management systems (wBMS) has unlocked a huge ROI opportunity for OEMs globally. wBMS saves up to 90% of the wiring and up to 15% of the volume in battery packs for next-generation EVs. Apart from this, the lifespan of the battery also increases in this new system. Hence, maintaining a tight security protocol is mandatory in the wireless battery pack management system. The emergence of complementary services such as multimedia streaming, E-calls, and remote diagnostics within connected cars is changing the whole ecosystem of the automotive industry. The automotive ecosystem has evolved from a fixed to a dynamic ecosystem in which each stakeholder accounts for a share of the revenue. The pricing model in the connected ecosystem has become a challenge due to the presence of multiple stakeholders. Many companies are struggling with different types of pricing models by managing cost and complexity. Software companies are already implementing more than one pricing model to earn revenue. As per industry experts, cybersecurity solution providers are facing challenges in implementing the right pricing strategy in various cases to maximize revenue and minimize the opportunity loss.

Owing to increasing demand for vehicle safety in terms of accident prevention, driver safety, and advanced communication & data safety, there is a growing demand for electronic driver assistance systems (parking, speed regulation, lane assist, blind spot detection, pre-collision warning, etc.). This, along with the demand for comfort features and modern infotainment systems such as automatic cooling, seat adjustment with memory, automatic tailgate opening, and performance control, has increased the complexity of automotive electronic architectures, thereby providing more opportunities for hackers to hack a vehicle. Currently, a modern high-end car’s software has 100 million lines of codes (greater than Windows 7 and Boeing 787). These many lines of codes present vulnerabilities such as “Man in the middle attack” during an over-the-air software update. Mitigating these problems would require a physical hardening of the hardware as well as more sophisticated software solutions, resulting in more implementation costs for OEMs, thus hindering the market growth momentum. 

COVID-19 impact 
The pandemic has boosted the digital transformation of industries; companies focus more on a digital platform to interact with their clients and customers. People working from home are also more reliant on digital sources. The automation and digitalization have been boosted during the pandemic. However, due to several logistics restrictions and the lockdown, the automotive sector has adversely affected the demand. The increasing digitalization during the pandemic has also led to increasing cyber-attacks and malware attacks. Cybercrime increased by 600% due to COVID-19 pandemic. The increasing cybercrime because of a pandemic can increase the demand for automotive cybersecurity solutions.

Highlighted with 90 tables and 76 figures, this 187-page report “Europe Automotive Cybersecurity Market 2021-2030 by Solution, Product Type, Product Form, Threat Type, Application, Automotive Component, Vehicle Type, and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Europe automotive cybersecurity market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain

In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure 
• Growth Drivers 
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of Europe market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify Europe automotive cybersecurity market in every aspect of the classification from perspectives of Solution, Product Type, Product Form, Threat Type, Application, Automotive Component, Vehicle Type, and Country. 

By Solution
    • Hardware-based Solution
    • Software-based Solution
    • Network-based Solution
    • Service Solution

By Product Type
    • Intrusion Detection System (IDS)
    • Intrusion Detection and Prevention System (IDPS)

By Product Form
    • Built-in Cybersecurity Solutions
    • Cloud-based Cybersecurity Solutions

By Threat Type
    • Direct Physical Attacks
    • Indirect Physical Vulnerabilities
    • Wireless Vulnerabilities
    • Sensor Fooling Vulnerabilities

By Application
    • Authentication and Access Control
    • Protection from External Attacks
    • Risk Detection & Incident Response

By Automotive Component
    • Telematics System
    • Infotainment System
    • Powertrain System
    • On-board Diagnostics (OBD)
    • Communication System
    • ADAS & Safety System
    • Other Component Systems

By Vehicle Type
    • Passenger Vehicles
    • Light Commercial Vehicles (LCV)
    • Heavy Commercial Vehicles (HCV)

By Vehicle Connectivity 
    • Non-connected Vehicles
    • Connected Vehicles
        • Vehicle-to-Vehicle (V2V) Communication
        • Vehicle-to-Infrastructure (V2I) Communication
        • Vehicle-to-Pedestrian (V2P) Communication
        • Vehicle-to-Network (V2N) Communication

By Vehicle Autonomy
    • Conventional Vehicles
    • Autonomous Vehicles

By Vehicle Propulsion
    • Traditional Vehicles
    • Electric Vehicles
        • Battery Electric Vehicle (BEV)
        • Hybrid Electric Vehicle (HEV)
        • Plug-in Hybrid Electric Vehicle (PHEV)
        • Fuel Cell Electric Vehicle (FCEV)

By Geography 
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe (further segmented into Netherlands, Switzerland, Turkey, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)

For each key country, detailed analysis and data for annual revenue are available for 2019-2030. The breakdown of key national markets by Application, Automotive Component, and Vehicle Type over the forecast years is also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in Europe automotive cybersecurity market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.

Key Players (this may not be a complete list and extra companies can be added upon request): Airbiquity, Aptiv plc, Argus Cyber Security, Arilou Technologies, Arxan Technologies, Inc., Bayerische Motoren Werke (BMW) AG, Broadcom Inc., C2A Security Ltd., Centri Technology Inc, Dellfer, Inc., ESCRYPT GmbH, Ford Motor Company, Guardknox Cyber Technologies Ltd., Harman International, Karamba Security, Lear Corporation, Mocana Corporation, Nvidia Corporation, Saferide Technologies Ltd, Toyota Motor Corporation, Trillium Secure Inc., Upstream Security, Vector Informatik GmbH, Volkswagen AG,
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

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