According to a new report, published by KBV research, The Global Cybersecurity for Autonomous Vehicles Market size is expected to reach $1.67 billion by 2031, rising at a market growth of 22.7% CAGR during the forecast period.
The In-vehicle cybersecurity segment is leading the Global Cybersecurity for Autonomous Vehicles Market by Form in 2023; thereby, achieving a market value of $1.1 billion by 2031. In-vehicle cybersecurity is critical for protecting the vehicle's internal systems, such as sensors, control units, and communication networks, from cyber threats. The increasing complexity of autonomous vehicle systems, which rely on advanced sensors and software to navigate and interact with the environment, drives the demand for robust in-vehicle cybersecurity solutions. These solutions are designed to safeguard the vehicle's operation and ensure the safety of its passengers.
The Application Security segment is anticipating a CAGR of 23.1% during (2024 - 2031). Application security focuses on safeguarding the software applications that control various autonomous vehicle systems, including infotainment, navigation, and control systems. These applications are vulnerable to exploitation if not adequately secured and cyberattacks targeting these applications can potentially lead to malicious software manipulations, system failures, or data theft. As autonomous vehicles increasingly rely on complex applications, securing them is critical to ensuring their safe and reliable operation.
The Passenger segment is generating maximum revenue in the Global Cybersecurity for Autonomous Vehicles Market by Type in 2023; thereby, achieving a market value of $934.3 million by 2031. The passenger segment encompasses personal, consumer-driven vehicles that rely on autonomous technology for everyday transportation. As autonomous vehicles in the passenger segment become more widespread, ensuring robust cybersecurity measures is crucial to protect the vehicles from cyberattacks that could compromise passenger safety, data privacy, and vehicle performance.
The Telematics segment is registering a CAGR of 23.2% during (2024 - 2031). Telematics systems enable data exchange between vehicles and external networks for navigation, diagnostics, and fleet management purposes. With increasing connectivity, telematics systems face rising risks from cyber threats. Safeguarding these systems is vital to prevent unauthorized access, data breaches, and manipulation of critical vehicle functions.
Full Report: https://www.kbvresearch.com/cybersecurity-for-autonomous-vehicles-market/
The North America region dominated the Global Cybersecurity for Autonomous Vehicles Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $611.3 million by 2031. The Europe region is experiencing a CAGR of 22.3% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 23.4% during (2024 - 2031).
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