Growing number of connected vehicles and electronic
content per vehicle to drive Asia-Pacific automotive cybersecurity market
through 2024
According
to TechSci Research report, “Asia-Pacific Automotive
Cybersecurity Market By Vehicle Type, By Type, By Security, By Solution,
By Application, By Country, Competition, Forecast & Opportunities, 2024”, Asia-Pacific automotive cybersecurity market is projected
to grow at an impressive CAGR during forecast period on account of growing
adoption of advanced vehicles technologies, such as connected cars, automation,
self-driving cars, etc., along with surging integration of electronics in
vehicles. Owing to increasing trend of digitization, companies have started
relying on the digital data, thereby escalating the requirement of automotive
cybersecurity. Moreover, with the advent and skyrocketing sales of connected
cars, there is increased risk for attacks in various parts of the automobile,
which is further likely to drive demand for automotive cybersecurity across
Asia-Pacific during forecast period.
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Asia-Pacific automotive cybersecurity market can be
segmented based on vehicle type, type, security, solution and application. In
terms of vehicle type, the market can be segmented into passenger car, light
commercial vehicle and heavy commercial vehicle. In 2018, passenger car segment
witnessed extensive adoption of automotive cybersecurity and dominated the
market. This was due to the increasing use of vehicle connectivity for
navigation, voice recognition and infotainment services, among others, thereby elevating
the demand for protecting crucial data from hackers. On the basis of application,
the market can be segmented into telematics, infotainment, safety systems,
communication and on-board diagnostics. Of all, communication application
segment is growing at a fast pace, due to increasing deployment of technologies
in vehicles as these technologies allow vehicles to connect with other
vehicles.
Major players operating in Asia-Pacific automotive
cybersecurity market are Denso Corp., Argus Cyber Security Ltd. (a Continental
AG company), Robert Bosch GmbH, Lear Corporation, Symantec Corp., NXP
Semiconductors N.V., TowerSec Inc. (a Harman International Industries Inc.
company), Vector Informatik GmbH, Trillium Secure, Inc. among others. Companies operating in the market are
adopting organic and inorganic strategies such as product launch, investments
& expansions and agreements & contracts to ensure growth in the market.
“Asia-Pacific automotive cybersecurity market
is anticipated to witness growth over the coming years on account of surging
adoption of connected vehicles along with increasing vehicle production across
the region. Moreover, several automotive component suppliers and OEMs are
entering into the economies such as China and India, which is further expected
to drive growth in Asia-Pacific automotive cybersecurity market during forecast
period.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Asia-Pacific Automotive Cybersecurity Market By
Vehicle Type, By Type, By Security, By Solution, By Application, By Country,
Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Asia-Pacific
automotive cybersecurity market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decision. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in Asia-Pacific
automotive cybersecurity market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
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