The global automotive cybersecurity market size is expected to be worth around USD 16.43 billion by 2032, and it is registering at a CAGR of 18.15% from 2023 to 2032.
Ottawa, March 11, 2023 (GLOBE NEWSWIRE) — As per Precedence Research, the global automotive cybersecurity market size was valued at USD 3.1 billion in 2022. The most recent developments in connected and autonomous vehicles, as well as the rising number of electronic control units (ECUs) in electric vehicles, are driving the expansion of the automotive cybersecurity industry. Due to new manufacturing techniques and consumer-challenging technology, the automotive industry is facing a rapid revolution in cyber security that is being fueled by socioeconomic and environmental changes.
Report Highlights:
Asia Pacific region has accounted revenue share of 37% in 2022.
By vehicle type, the electric vehicle (EV) segment is poised to grow at a CAGR of 29% between 2023 to 2032.
By security type, the wireless network security segment has generated revenue share of 43% in 2022.
By security type, the application security has held revenue share of 35% in 2022.
By application, the infotainment segment has contributed revenue share of 37% in 2022.
By application, the ADAS & safety system segment is growing at a notable CAGR of 22% from 2023 to 2032.
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Market Overview
Cybersecurity is the defence against malicious assaults, damage, unauthorized access, and manipulation of automobile electronic systems, communication networks, control algorithms, software, users, and underlying data. The market for automotive cybersecurity is expanding as a result of rising demand for automotive cybersecurity solutions brought on by a rise in cyberattacks on the car industry. Cybercrime is on the rise, and it is anticipated that cu ..
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