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Automotive Cybersecurity Market Trends

Report ID: GMI2714
Published Date: Aug 2023
Report Format: PDF

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Automotive Cybersecurity Market Trends

An emerging trend in the automotive cybersecurity industry is the increasing adoption of bug bounty programs by automakers. Bug bounty programs invite ethical hackers and cybersecurity experts to identify vulnerabilities in vehicle software systems and report them for a reward. This proactive approach leverages the collective expertise of the cybersecurity community to identify and address potential threats before they can be exploited maliciously. The trend highlights a collaborative shift in the industry, fostering a culture of transparency, continuous improvement, and swift response to emerging cyber threats, ultimately enhancing the security posture of connected vehicles.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive cybersecurity reached USD 2.9 billion in 2022 and is poised to witness 14% CAGR from 2023 to 2032, as automotive manufacturers are partnering with cybersecurity firms, technology companies, and research institutions to develop comprehensive solutions.

The in-vehicle cybersecurity segment held a market share of 68% in 2022, owing to the rapid proliferation of connected vehicles that demand safeguarding sensitive data and ensuring real-time protection against cyber threats.

North America market size was worth over USD 1 billion in 2022, backed by the convergence of stringent autonomous vehicle regulations and the imperative for robust security.

AT&T, Cisco Systems Inc., Continental AG, Denso Corporation, Intel Corporation, Robert Bosch GmbH, Harman International, Microsoft Corporation.