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(Hosting-NewsWire.com, September 22, 2018 ) "Automotive Cyber Security Market by Security Type (Network, Endpoint, Application, Wireless & Cloud), Area of Application (Infotainment, Telematics, OBD, Safety, Powertrain, Communication & Others), Vehicle Type, and by Region - Global Forecast to 2021"
The global automotive cyber security market is projected to grow at a CAGR of 13.2% from 2016 to 2021, to reach a market size of USD 31.8 million by 2021.
The major factors behind the growth of the global automotive cyber security market are the growing connected cars being introduced from OEMs and rising security concerns among end-users.
Browse 55 market data Tables and 45 Figures spread through 116 Pages and in-depth TOC on "Automotive Cyber Security Market by Security Type (Network, Endpoint, Application, Wireless & Cloud), Area of Application (Infotainment, Telematics, OBD, Safety, Powertrain, Communication & Others), Vehicle Type, and by Region - Global Forecast to 2021"
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North America: Legislations Estimated to Drive the Adoption of Automotive Cyber Security
North America dominates the connected car market on a global level. It comprises the U.S., Mexico, and Canada. It is expected that the growth in the region would be the largest with regards to one of the major application areas of connected cars—car to X communication. The Security and Privacy in Your Car Act, a legislation proposed in the U.S. in 2015, aims to mandate that critical software systems in cars are isolated and that the entire vehicle is safeguarded against hacking by using cybersecurity measures. It also specifies that data stored in the car should be secured to prevent unauthorized access and that vehicles should detect, alert the drivers, and respond to hacking attempts in real time.
Thus, from the increasing use of connected cars, it is evident that the need for cybersecurity in cars will also increase in the North American market.
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Increasing Connectivity in Passenger Cars
A typical modern luxury vehicle may contain 100 million lines of software code; this is estimated to increase with the growing adoption of new technologies in vehicles. This would result in an increasing number of vulnerabilities arising from bugs and coding errors. The growing number of ECUs would also increase the number of entry points for hackers, thereby increasing the overall vulnerability of the vehicle. The increasing media attention toward these vulnerabilities has raised the concern about security and privacy among end-users. This is estimated to increase the demand for services such as source code reviews, vehicle architecture designing, and simulation testing among others along with cybersecurity in automobiles.
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The major players such as Argus Cyber Security (Israel), Harman International Industries (U.S.), Karamba Security (Israel), and Intel Corporation (U.S.) are developing solutions for dominating the global automotive cyber security market.
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