The Europe Automotive Cybersecurity Market would witness market growth of 19.4% CAGR during the forecast period (2022-2028).
Technologies for cloud and mobile computing present the market with a number of prospects. Multiple market expansion opportunities are provided by the development of a dependable open-car standard interface, cloud software infrastructure, mobile cross platforms, and automotive data taxonomy. To provide smartphone support with in-car technologies for driverless vehicles, the industry is constantly growing. The installation of intelligent transportation systems is anticipated to present attractive growth potential. The market will also be driven by an increase in malicious attacks as linked automobiles are adopted more widely.
The need to safeguard these systems and the data they contain gave rise to cybersecurity. Cybersecurity is even more crucial when it comes to automobiles because safety-related systems and components need to be shielded against damaging assaults, illegal access, damage, and other potential disruptions. Today's cars increasingly come equipped with driver aid features including automatic emergency braking, forward collision warning, and vehicle safety communications. The use of driver assistance technologies in the future may lead to complete avoidance of collisions, particularly collisions caused by human drivers' decisions.
Corporate purchases of vehicles have significantly increased in the region. Additionally, these vans are used to transport items purchased online. As e-commerce grows throughout Europe, a more contemporary distribution network is becoming more and more in demand. With many renowned automakers established there, including the BMW Group, Volkswagen Group, and Daimler Group, Germany is a significant automotive hub in Europe.
The nation is a significant manufacturer of light commercial vehicles in Europe. German producers of light commercial trailer vehicles build more trailers than Germany needs. As a result, the nation is a significant exporter of trailers. These manufacturing companies are looking for further enhancements in their vehicles such as equipping them with IoT and other technological advances. These elements would contribute to the expansion of automotive cybersecurity in the Europe region.
The Germany market dominated the Europe Automotive Cybersecurity Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $419.9 million by 2028. The UK market is registering a CAGR of 18.4% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 20.2% during (2022 - 2028).
Based on Application, the market is segmented into Communication Systems, Telematics, Infotainment, ADAS & Safety, Body Control & Comfort, and Powertrain Systems. Based on Security Type, the market is segmented into Application Security, Endpoint Security and Network Security. Based on Offering, the market is segmented into Software and Hardware. Based on Form, the market is segmented into In-Vehicle and External Cloud Services. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Automotive Cybersecurity Market will Hit $6.2 Billion by 2028, at a CAGR of 19.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Continental AG, Denso Corporation, Aptiv PLC, Harman International Industries, Inc. (Samsung Electronics Co., Ltd.), Vector Informatik GmbH, Arilou Information Security Technologies Ltd. (NNG Group), GuardKnox Cyber Technologies Ltd., and Karamba Security Ltd.
By Application
By Security Type
By Offering
By Form
By Country
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