Automotive Cybersecurity Market_PR

1. Analysis of Automotive Cybersecurity Market Size by Research Nester Reveals the Market to Grow with a CAGR of ~15% During 2024-2036 and Attain ~USD 14 Billion by 2036 Research Nester assesses the growth and market size of the global automotive cybersecurity market which is anticipated to be on account of the growing production of automobiles and growing investment in cybersecurity. New York – April 15, 2024- Research Nester’s recent market research analysis on “Automotive Cybersecurity Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global automotive cybersecurity market in terms of market segmentation by form, offering, application, security type, approach, vehicle autonomy, propulsion type, vehicle type, and by region. Growing Rate of Cybercrimes to Promote Global Market Share of Automotive Cybersecurity The global automotive cybersecurity market is estimated to grow majorly on account of the increasing number of data breaches.Cybercrime is wreaking havoc on the world economy, and causing losses up to hundreds of billions of dollars driven by the growing usage of corporate networks and the internet. For instance, the annual cost of cybercrime to the world economy is more than USD 440 billion. Cybercrime is on the rise across a wide range of businesses, including the automotive sector owing to the proliferation of linked cars and digitization, which are appealing targets for cybercriminals, and may have a negative financial and reputational impact on the company.

2. As a result, the demand for automotive cybersecurity is expected to rise since it keeps user data safe from theft, especially for networked and semi- autonomous cars which are more susceptible to cyberattacks. According to estimates, the annual cost of cyberattacks to the automotive sector is around USD 1 billion. Furthermore, electric vehicle charging stations present a cyber security issue, which includes failures of the electrical infrastructure, data breaches, and access to networked systems such as renewable energy sources, which can serve as gateways for hackers to infect vehicles with malicious software and jeopardize their safety and performance. Some of the major growth factors and challenges that are associated with the growth of the global automotive cybersecurity market are: Growth Drivers: Surging Rate of Urbanization Across the Globe Rising Adoption of Cloud-based Applications Challenges: The expense of putting strong cybersecurity safeguards in place, and the absence of established cybersecurity procedures are some of the major factors anticipated to hamper the global market size of automotive cybersecurity.For OEMs and suppliers, the lack of industry-wide cybersecurity standards for the automotive supply chain presents a major challenge, which makes it more difficult to guarantee uniform cybersecurity procedures across the supply chain. Access our detailed report at: https://www.researchnester.com/reports/novel-drug- delivery-systems-market/3930

3. By vehicle type, the global automotive cybersecurity market is segmented into passenger, light commercial, and heavy commercial. The passenger segment is to garner the highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The need for automotive cybersecurity is becoming more and more apparent as a result of attack surfaces growing as passenger vehicles connect to more networks, which include the ability to disable or even crash a car. In addition, cybersecurity in light commercial vehicles is becoming increasingly important since these vehicles are now being equipped with advanced technologies such as GPS systems, telematics, and internet connectivity, which introduce vulnerabilities. Light commercial vehicles collect and transmit vast amounts of data, which is valuable to both businesses and hackers therefore ensuring robust cybersecurity measures is becoming important as hackers could potentially gain control over critical vehicle systems to prevent attacks and ensure the safety of drivers, passengers, and pedestrians. By region, the Europe automotive cybersecurity market is to generate the highest revenue by the end of 2036. This growth is anticipated by the growing importance of automotive cybersecurity in the region. For instance, since July 2022, cybersecurity management systems (CSMS) have been required for all newly created vehicle types in the EU to mandate that cybersecurity be considered from the very beginning of the vehicle development process. Besides this, the most cutting-edge cyber security project in Europe devoted to vehicle testing has been launched by the state-owned Research Institutes of Sweden, RISE Cyber Test Lab which provides a variety of previously unheard-of insights, techniques, and test beds in association with top telecom professionals and ethical hackers worldwide for

4. addressing a pressing issue that automakers are facing as they compete to produce connected cars. This report also provides the existing competitive scenario of some of the key players of the global automotive cybersecurity market which includes company profiling of Harman International, Broadcom Inc., Denso Corporation, Honeywell International, Inc., Continental AG, Guard Knox Cyber-Technologies Ltd., Robert Bosch GmbH, and others, and others. Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties. Contact for more Info: AJ Daniel Email: info@researchnester.com U.S. Phone: +1 646 586 9123 U.K. Phone: +44 203 608 5919