With nearly 112 million vehicles now connected around the world, the global market for automotive cybersecurity is expected to grow exponentially – to $759 million USD in 2023, according to the Automotive Cybersecurity and Connected Car Report from IHS Automotive. Connected cars are defined as those that have a connection to the internet, through telematics, an onboard modem or a paired device in the vehicle, such as a mobile phone or other device.
One unfortunate result of connected car growth: vehicles are now more susceptible to cyberattacks through the many wireless and wired connections. Hackers are getting more savvy in perpetrating cyberattacks – more easily and cost effectively-- on connected vehicles. OEMs and suppliers are taking these threats seriously, with increased interest in developing and implementing cybersecurity solutions to address vulnerabilities and system design changes needed to accommodate them.
There are many software approaches to cybersecurity in the car. IHS Markit condenses these solutions into easy-to-understand segments in one of the first-ever automotive cybersecurity forecasts. According to IHS Markit research, the automotive cybersecurity market will consist of two distinct segments. Some cybersecurity software programs will be installed on to the many special purpose computers and data buses that control and regulate in vehicle functions such as the airbags and fuel intake. These special computers are known in the industry as electronic control units (ECUs).
The other segment will be cybersecurity cloud services. These cloud services will track and manage whole fleets of vehicles through management service software that will track and assess irregularities, allowing carmakers to identify unauthorized attempts to attack or alter their vehicles. Most cars will have multiple cybersecurity software programs to protect the key ECUs in the car, which could be as many as 50-60 (ECUs in today's vehicles) according to IHS Markit estimates.
This report covers the global market for connected car cybersecurity measures. It covers some of the aspects that necessitated the need for cybersecurity measures, including a brief history of the current reported cybersecurity attacks. The report also outlines a brief technical overview of current cybersecurity solutions, gives an overview of some of the major suppliers and OEMs in this space, some of emerging standards and platforms, and categorises the different segments. Finally, it outlines the potential growth in this segment through a sales forecast and through projected revenue potential.
This report is available to SAS Service subscribers
History of recent attacks
Legislation and regulation
Cybersecurity unit forecast
Connected Car Firewall- and Operational Cybersecurity Car Sales
Driving Control ECU Firewall- and Operational-Cybersecurity Enabled Car Sales
Bus Network Operational Cybersecurity Car Sales
Cloud Cybersecurity Tracking Car Sales
Cybersecurity revenue forecast
Connected Car Firewall- and Operational Cybersecurity Revenue
Bus Network Operational Cybersecurity Revenue
Driving Control ECU Firewall- and Operational-Software Revenue
Cloud Cybersecurity Tracking Revenue
Colin Bird is the senior analyst with IHS Automotive, primarily focusing on the Services, Apps, and Software (SAS) service. He assists with client requests, database work and with presenting at major conferences and trade shows as it relates to SAS. Colin also manages IHS Automotive consumer surveys for Connected Car and Premium Audio, including behavioral and attitudinal questions regarding in-car electronic systems and services.
Prior to joining IHS, Colin worked for Mintel, a market research firm, as an automotive analyst focusing on consumer behaviors and attitudes as it related to light-vehicle retailing, hybrids & EVs, motorcycles, vehicle financing, and auto service care, among other subjects. In addition to Mintel, he previously worked for Cars.com as an automotive editor in automotive research/media publishing.
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