Autonomous Vehicle Security Market Set for Rapid Growth and Trend, by 2023
The global automobile industry is growing rapidly owing to the increasing disposable income, urbanization, and other factors. The autonomous vehicles security solutions are gaining more demand across the globe due to the increasing demand for connected and autonomous vehicles in the commercial and passenger segments. The fully autonomous vehicles are also expected to become a major consumer of vehicle security solutions owing to the increasing developments in this segment.
Autonomous and connected vehicles are vulnerable to cyberattacks and the number of vehicle hacking and theft are increasing due to less awareness about the security solutions. The governments in the developed markets have developed vehicle security regulations to overcome the cyber threats, and thus, it has become a mandate for the companies to develop in-vehicle, cloud, and network-based security systems.
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The global autonomous vehicle security market revenue is estimated to be $6.87 billion in 2017 and is expected to reach $15.68 billion by 2023, growing at a CAGR of 14.7% during the forecast period 2017–2023.
Market Revenue and Segmentation Analysis:
The report covers vehicle type, namely Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, and Fully-autonomous Vehicles. The passenger vehicles are adopting more security solutions due to the increasing connected and autonomous vehicle usage across the regions. The increasing investments by the governments in developing connected mobility solutions in their smart cities is also expected to drive the autonomous vehicle cybersecurity market.
The report covers security types, namely application security, network security, wireless security, and cloud security. The wireless and cloud security solutions are primarily dominated by the pure play software developing companies owing to their existing developments in the cloud and connectivity infrastructure. The in-vehicle security type is also called the first level of cybersecurity system, which is being developed by several automobile OEMs and technology companies. The security communication is yet to receive standard technology developments for wide expansion in the Asian and European markets. The application security, network security, and wireless security solutions are expected to grow during the forecast period followed by the cloud security solutions.
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The report covers services platforms, namely consulting service providers, integration service providers, and maintenance service providers. These platforms provide the required service connectivity for the implementation of security solutions in the autonomous and connected vehicles. The consulting services and integration services are expected to grow at a higher rate through 2023 and the American and European countries are expected to procure more of these services followed by APAC and MEA.
The report covers solution types, namely Identity & Access Management (IAM), Unified Threat Management, IDS/IPS, Risk & Vulnerability Management, DDoS Mitigation, Anti-malware, Data Loss Prevention (DLP), and others. These are useful for providing cybersecurity solutions and in building safe communication platforms between connected vehicles. IAM, Unified Threat Management, IDS/IPS, and Risk & Vulnerability Management are expected to grow at a higher CAGR during the forecast period, 2017-2023 owing to its increased usage in application security, network security, wireless security, and cloud security solutions that are provided to autonomous vehicles.
The regions covered in this report are Americas, Europe, MEA, and APAC. In 2016, the Americas and Europe were the leading adopters of autonomous vehicle security solutions followed by APAC and MEA. However, APAC will become the leading adopter of the security solutions by 2023 owing to the developing automotive sector in countries like China, Japan, India, South Korea, and others.
Benefits and Vendors
The report contains an in-depth analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape. Autonomous vehicle security solutions are expected to change the connected vehicle industry by 2025 with its wide range of in-vehicle security and anti-hacking solutions. The report covers an in-depth analysis of Toyota, Siemens, Cisco, Ford, Robert Bosch, Argus Cyber Security, Arilou Cyber Security, ESCRYPT – Embedded Security, Karamba Security, and Secunet Security Networks AG.
The study offers a comprehensive analysis of the “Global Autonomous Vehicle Security Market”. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.
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