Automotive Cyber Security Market Size, Share, Growth Analysis, By Offering(Software, Hardware), By Application Type(ADAS & Safety, Body Control & Comfort, Infotainment, Telematics), By Form Type(In-Vehicle, External Cloud Services), By Security Type(Application, Wireless Network, Endpoint), By Approach(Intrusion Detection System, Security Operations Centre), By Vehicle Type(Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicles), By Propulsion Type(ICE Vehicles, Electric Vehicles), By Vehicle Autonomy(Non-Autonomous Vehicles, Semi-Autonomous Vehicles, Autonomous Vehicles), By EV Application(ADAS & Safety, Body Control & Comfort, Infotainment, Telematics), By Region - Industry Forecast 2024-2031

Global Automotive Cyber Security Market size was valued at USD 2.90 billion in 2022 and is poised to grow from USD 3.52 billion in 2023 to USD 16.39 billion by 2031, at a CAGR of 21.2% during the forecast period (2024-2031).  

Manufacturing close to the customer in order to cut operational costs is one of the main business tactics used by manufacturers in the global cyber security market to benefit customers and build the automotive cyber security market sector. Some of the biggest advantages brought about by the development in cyber security systems in recent years have gone to the automotive industry. 'Continental AG (Germany) ', 'Aptiv PLC (Ireland) ', 'GuardKnox Cyber Technologies Ltd. (Israel) ', 'Karamba Security (Israel) ', 'Upstream Security Ltd. (Israel) ', 'Intel Corporation (United States) ', 'BlackBerry Limited (Canada) ', 'Cisco Systems, Inc. (United States) ', 'NXP Semiconductors N.V. (Netherlands) ', 'Trillium Secure, Inc. (United States) ', 'Fortinet, Inc. (United States) ', 'Trend Micro Incorporated (Japan) ', 'Saferide Technologies Ltd. (Israel) ', 'Vector Informatik GmbH (Germany) ', 'C2A Security Ltd. (Israel) ', 'Lear Corporation (United States) ', 'Bosch Limited (Germany) ', 'Tata Elxsi (India) ', 'Denso Corporation (Japan) ', 'SafeRide Technologies (Israel) ', 'Irdeto (Netherlands) ', 'Secunet Security Networks AG (Germany) ', 'Infineon Technologies AG (Germany) ', 'Panasonic Corporation (Japan) '

The government created new rules and put them into effect as a direct response to these cyberthreats. As an illustration, the Department for Digital, Culture, Media and Sport (DCMS) in the United Kingdom released an annual report titled the "cybersecurity breaches survey" that contains verified data on the most common data breaches. The European Confederation of Directors Associations and the Internet Security Alliance (ISA) have worked together to create a handbook on cyber-risk management for European company boards of directors.

Cybersecurity solutions are evolving to incorporate advanced technologies like machine learning, artificial intelligence (AI), and behavioural analytics for effective threat detection and prevention. These technologies enable the identification of anomalous behaviour and patterns, allowing proactive measures to mitigate potential cyber threats.

The majority of the market share for automotive cyber security comes from the Asia-Pacific region. Due to an upsurge in cyberattacks against the country, China has improved its defenses. The country stands a good probability of acting as a crucial hub for cyberattacks in other areas. A Chinese cyberspying group has been blamed for attacks on Microsoft's mail server software. Due to China's massive monitoring infrastructure, which is made possible by insufficient or even nonexistent encryption, a lot of data in China has been left open to manipulation and espionage.