The Europe Cybersecurity for Autonomous Vehicles Market would witness market growth of 22.3% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Cybersecurity for Autonomous Vehicles Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $105.9 million by 2031. The UK market is exhibiting a CAGR of 21.2% during (2024 - 2031). Additionally, The France market would experience a CAGR of 23.4% during (2024 - 2031).
AVs rely on continuous software updates to ensure their systems are optimally up to date. Over-the-air (OTA) updates, which enable remote software installation and updates, pose a significant security challenge. If compromised, these updates could be used to install malicious software, leading to vulnerabilities in the vehicle's operating system, navigation, or control systems. Secure mechanisms for authentication, encryption, and verification of software updates are crucial to mitigate these risks.
Additionally, autonomous vehicles generate and collect enormous volumes of data, including personal driver information, location data, and sensor data. This data can enhance the driving experience, improve vehicle performance, and provide insights into driver behaviour. However, this sensitive data is also a prime target for hackers looking to steal personal information or exploit vulnerabilities. Effective cybersecurity protocols are needed to ensure that personal and location data is encrypted and protected from unauthorized access, preserving user privacy and compliance with regulations like GDPR.
Germany’s automotive industry is the largest in Europe in production and sales, accounting for around 25% of all passenger cars manufactured and nearly 20% of all new registrations. With 44 OEM sites, Germany boasts the largest concentration of OEM plants in Europe, and the German OEM industry held more than 55% of the EU market share in 2021. This dominance in the automotive sector underscores Germany's pivotal role in producing autonomous vehicles. As the industry continues to grow, integrating sophisticated technologies in vehicles heightens the risk of cyber-attacks.
Free Valuable Insights: The Global Cybersecurity for Autonomous Vehicles Market will Hit USD 1.67 Billion by 2031, at a CAGR of 22.7%
Based on Form, the market is segmented into In-vehicle cybersecurity and External cloud cybersecurity. Based on Application, the market is segmented into ADAS & Safety, Communication Systems, Telematics, Infotainment, Body Control & Comfort, and Powertrain Systems & Other Application. Based on Security Type, the market is segmented into Network Security, Application Security, and Endpoint Security. Based on Type, the market is segmented into Passenger and Commercial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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