Automotive Cyber Security To Undertake Major Revamps In The Coming Period | Market Analysis by Growth, Demand, Business Trends, COVID – 19 Outbreak, Competitor Strategy

The future vehicle is expected to be continually and seamlessly connected. The explosion in the concept of autonomous and connected vehicles has created a huge base for the development of the automotive cybersecurity market 2020. The concepts of autonomous and connected vehicles require the connection of the vehicle to the internet which inevitably opens them up to the security threats that are part and parcel of the internet. The number of connected cars now is more than ever, with manufacturers ramping up production more than ever in response to consumer demand trends as more people are driving owned cars than ever. This development opens up vehicles to unique threats such as hackers for whom this a bigger target than ever. The increase in the susceptibility of vehicles created by the proliferation of connected devices is expected to open up new avenues for the automotive cyber security market. The new functions in the car of the future and beyond are expected to include vehicle security, infotainment, or intelligent traffic management to name a few. It is, however, prudent to ensure holistic connectivity as the key to the development of automated vehicles. On the other hand, more functions such as wireless updates to vehicle electronics are accompanied by risks, particularly when it comes down to data transfer between the car and its ecosystem. Therefore, cybersecurity in automobiles should be kept at the core of the progress of services and products in the coming period.

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The concept of connected car security has gained the attention it deserved only in recent years. The numerous incidents by which hackers secured direct charge of IoT devices with a vehicle ‘s CAN bus, which can be very hackable as per the experts in exposing the vulnerabilities of connected vehicles. Additionally, the use of more complex software to provide advanced functionality is creating new opportunities for malware to take over connected vehicles. The attacks by malware take the credentials of the user to breach into a database of credit cards that can be damaging for victims in more ways than one. A hacker who gains charge of a connected vehicle ‘s braking or steering system could lead a driver or passenger to suffer the loss of their lives. Thus, the security concerns in the automotive industry are expected to advance more than a few diverse challenges around the connected vehicle, as well as in production plants and through enterprise IT systems. The challenges for security are expected to appear at every phase of the lifecycle.  Thus, every base requires to be dealt with in order to detect, prevent, and respond to likely security threats.

In the future, the automotive sector is expected to become increasingly dependent on computer technologies to make available the performance and differentiating features expected of its products. The development of connectivity and devices can be restructured in their original place that is anticipated to make the security of cybersecurity crucial. The security concerns in the automotive industry are advancing more than a few diverse challenges for connected vehicles, as well as in production plants. The challenges for security are expected to appear at every phase of the lifecycle.  Thus, every base requires to be dealt with in order to detect, prevent, and respond to likely security threats.

The threat made clear by cyberattacks will depend on the potential consequences and the factors that control the probability of an attack. Moreover, in the automotive industry, the consequences can be harsh which includes a risk of injury or death if a safety-related function is disabled or to crucial reputational damage if a huge class of vehicles is endangered or needs to be called back. The car’s electronic systems will be driven by the speeding up of the market needs. Modern cars are expected to be safe primarily to enhance their customers’ safety while also reducing liability and costs.  People are also projected to require a permanent connection to get diverse data and also to network with their professional and social ecosystems. These requirements are expected to lead to several visible changes in automotive electronic architectures that are developing speedily in sophistication and are large in comparison to other industries. The management of large automotive projects is not currently aware of the significance and details of cybersecurity. One of them is connected to the fact that developers of software in the automotive sectors are not predisposed to take into account security from the time of commencement of the project.

Presently, the majority of security incidents affecting cars are conveyed in a matter of hours. The released news typically associates the incident to the carmaker to the event. Nevertheless, there is still a huge degree of development that is expected to be achieved by the automotive cybersecurity market in the imminent years.

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Key Questions Addressed by the Report

• What was the historic market size?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate?
• How are the key players in this market?
• What are the strategies adopted by key players?

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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