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Automotive Cybersecurity Market Size
The global automotive cybersecurity market size was valued at USD 3.5 billion in 2024 and is projected to grow at a CAGR of 11.6% between 2025 and 2034. The automotive industry faces a surge in cyber-attacks, including remote vehicle hijacking, data theft, and ransomware. These threats target various vehicle components, from infotainment systems to critical safety features.
For instance, according to Statista, from 2021 to mid-2023, ransomware damage costs in the automotive industry surged by over 180%, rising from USD 74.7 million to USD 209.6 million. Additionally, system downtime costs due to cyberattacks soared to USD 1.99 billion in the first half of 2023. The increasing sophistication of these attacks and their potentially catastrophic consequences compel automotive manufacturers to enhance cybersecurity measures and adopt multi-layered security strategies.
Automotive Cybersecurity Market Report Attributes
| Report Attribute |
Details |
| Base Year: | 2024 |
|---|
| Automotive Cybersecurity Market Size in 2024: | USD 3.5 Billion |
|---|
| Forecast Period: | 2025 – 2034 |
|---|
| Forecast Period 2025 – 2034 CAGR: | 11.6% |
|---|
| 2025 – 2034 Value Projection: | USD 10.4 Billion |
|---|
| Historical Data for: | 2021 – 2024 |
|---|
| No. of Pages: | 180 |
|---|
| Tables, Charts & Figures: | 200 |
| Segments covered: | Vehicle, Security, Form, Application |
|---|
| Growth Drivers: | - Growing connected vehicle adoption
- Strict cybersecurity regulations for automotive manufacturers
- Growing complexity of vehicle architecture
- Proliferation of Over-the-Air Updates
|
|---|
| Pitfalls & Challenges: | - Cost constraints in the implementation of cybersecurity solutions
- Legacy system integration
|
|---|
The exponential growth of connected vehicles has created an extensive network of IoT devices. These vehicles, equipped with advanced infotainment systems, telematics, and V2X communication capabilities, generate and process massive amounts of sensitive data. This connectivity introduces multiple entry points for cyber threats, driving the need for robust cybersecurity solutions. Automakers are investing heavily in comprehensive security measures to protect V2X communications and ensure data privacy.
