Cybersecurity Market 2020-2024 Covid 19 Impact on Top countries data, Industry Insights by Share, Emerging Trends, Regional Analysis, Segments, Prime Players, Drivers, Growth Factor and Foreseen

Posted on Oct 20 2020 6:15 AM

"COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The Cybersecurity Market is expected to register a CAGR of Growing rate%, during 2020-2024. "

Global “Cybersecurity Market” Report 2020 - 2024 Provides Complete company profiles covering the product offerings, key financial information, current developments, SWOT analysis and strategies employed by the major Cybersecurity market players. Also Provides Industry position and viewpoint of main regions based on major key players, country, product types, and end industries Cybersecurity Market reports offer a detailed assessment of the Cybersecurity including enabling technologies, current market situation, market assumptions, restraining factors.

Cybersecurity Market Report Segmented by Regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa, Rest of World (ROW). This XYZ market research report focuses on the Key Manufacturers Profiles in Detail with Granular Analysis of the Market Share, Production Technology, Market Entry Strategies, Revenue Forecasts and Regional Analysis of the Market.

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The cybersecurity market for cars was valued at USD 78.48 million in 2017, and is expected to reach a value of USD 586.14 million by 2023, at a CAGR of 49.5% over the forecast period (2018 - 2023). The scope of the report is limited to solutions offered by players, including providers of hardware, software, professional services, and integration solutions. While the regions considered in the scope of the report include the United States, Europe, Japan, and the Rest of the world. The study also emphasizes on the various attack points in a car, automotive security evaluations, cyber security standards, and cyber security initiatives, such as SPY car act, NIST cybersecurity framework, work done by NHTSA, and FTC, among others.
The automotive industry is undergoing a wave of innovation and with the advent of groundbreaking technologies, such as the Internet of Things (IoT), making vehicles safer than ever before—is witnessing a paradigm shift from the traditional models. With enhanced GPS, location and maintenance live recording, reminders, driving assistance, and Wi-Fi services, the demand for connected cars has been soaring and it is estimated that connected cars will account for 75% of the 92 million cars shipped globally in 2020. 
Alongside the burgeoning connectivity, the increasing number of electronic control units and lines of code have increased the complexity of the products; thus, the concerns for security are on the rise. Further, the fragmented supply chain for this market has made it difficult to monitor the security policies at every stage. In order to counter these security risks, cybersecurity has become an indispensable aspect of connected cars. In addition, the growing number of government regulations and standards for these connected cars have been instrumental in driving the adoption of cybersecurity for cars.

Japan to Register the Fastest Growth over the Forecast Period

The connected cars market in Japan is expected to register robust growth with the first AD-Level 2 commercialized vehicle in the passenger car market. Since the automotive sales have witnessed a decline, the automotive OEMs are opting for new revenue streams, which include connected cars. This strategy is further buoyed by the Japanese government’s plans to improve the connected cars division before Olympics 2020, in an effort to protect transport infrastructure, which encompasses connected cars, trains, and airplanes. These have led the Japanese OEMs to display the AD technologies, to increase the consumers’ awareness for automated driving systems. While this is expected to aid the growth of the market for connected cars, it also involves taking stringent measures against activists and developing authentic cybersecurity for cars, which is expected to be a driving factor for the market.

Growing Number of Connected Cars and Rising Concerns over Cybersecurity

The growing connected ecosystem has made these cars more vulnerable to cyber-attacks. Fiat Chrysler Automobile, a market leader in connected cars (FCA) recently recalled 1.4 million vehicles after suspecting a remote hack in the Jeep Grand Cherokee, Cherokee SUV, and Dodge Ram Pickup vehicles. Further, security researchers Charlie Miller and Chris Valasek demonstrated that it was possible for hackers to control a Jeep Cherokee from a remote location using the car's entertainment system, which is connected to the mobile data network, and even made it possible to "kill" the engine, remotely activate or disable the brakes, and track the vehicle's location. Such instances have created major concerns over cybersecurity and generated the demand for “hacker-proof” vehicles, contributing to the growth of the automotive cyber security market.

Software-based Solutions to Witness the Greatest Adoption

Since connected vehicles are wholly dependent on the connected software for all aspects of their operation, they are vulnerable to a broad spectrum of cybersecurity attacks. Karamba Security, a company that develops security systems for connected cars, recently introduced a new carwall system for automotive cybersecurity. The software’s automated sealing approach is known to immediately detect and prevent cyber-attacks that exploit software bugs in the code. Further, to safeguard internal vehicle systems from attacks, and ensure data integrity while also providing data privacy and secure vehicle-to-cloud communications in millions of vehicles, there is a high demand for these software-based solutions.

The key players in this market include Intel Corporation, Towersec (Harman International Industries Inc.), Karamba Security, Lear Corporation, Escrypt GmBH, Continental AG, Infineon Technologies AG and Cisco Systems Inc. Other players include Delphi Automotive PLC, Arilou Technologies, Visteon Corporation, Argus Cybersecurity, Secunet AG, Trillium Incorporated, and NXP Semiconductors N.V, among others.

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Here is the Top-List of Key-players of Cybersecurity Market 2020:-

  • Intel Corporation
  • Towersec (Harman International Industries Inc.)
  • Delphi Automotive PLC
  • Arilou Technologies
  • Escrypt Gmbh
  • Visteon
  • Continental Ag
  • Infineon Technologies AG
  • Cisco Systems Inc.
  • Argus Cybersecurity
  • Secunet Ag
  • Trillium Incorporated
  • Karamba Security
  • Lear Corporation
  • NXP Semiconductors NV

The report focuses on the global market, especially in the United States, Europe, China, Japan, South Korea, North America, and India. 

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Also, the Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions.

The Global Cybersecurity market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.

The global Cybersecurity market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.

Highlighted points of Cybersecurity Market Size:

  • Covers the varying market dynamics of the industry.
  • In-depth analysis of market risks, opportunities, limitations, and growth of the market.
  • Includes market driving and restraining factors.
  • Participants profiles along with product description, overview, and business data.
  • Include details of five years of forecast analysis by types, regions, and applications.

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Key Developments in the Cybersecurity Market:

Reasons to Purchase this Report

  • How the growing number of connected cars act as a driver to the global market scenario?
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Which solutions and type of security is expected to dominate the market?
  • Which regions are expected to witness fastest growth during the forecast period?
  • Identify the latest developments, market shares and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet in excel.

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Finally, the report Global Cybersecurity Market 2020 describes the Cybersecurity industry expansion game plan, the Cybersecurity industry knowledge supply, appendix, analysis findings, and the conclusion.

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