• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Connected Cars Will Drive Demand for Automotive Cybersecurity Products: Report

March 11, 2021

Persistence Market Research is forecasting modest growth in the automotive cybersecurity market. The firm valued the market at $5.4 billion in 2020, and believes that that number will rise at a CAGR of nearly eight percent for the next 10 years.

Connected Cars Will Drive Demand for Automotive Cybersecurity Products: Report

Much of that growth will be driven by the increasing ubiquity of digital services in connected and autonomous vehicles, which often come with infotainment, navigation, and security applications designed to make the on-road experience more enjoyable. However, a car that links to the internet (or other devices) is vulnerable to cyberthreats, which means that vehicle manufacturers will need to implement stronger security measures to protect their customers and make sure that unauthorized individuals cannot gain access to those systems.

With that in mind, Persistence expects to see rising demand for hardware security modules (HSM) that can protect the processors that power various in-car systems. As it stands, the HSM segment accounts for 43 percent of the market in 2021. Persistence noted that vehicle manufacturers are now working with cybersecurity specialists to deliver next-generation products, including infotainment apps and Advanced Driving Assistance Systems (ADAS).

That growth will help to offset the severe negative impact of COVID-19. According to Persistence, profits for the leading car manufacturers were down as much as $100 million in 2020, due to declining demand and the disruption to international supply chains, especially those that rely on Chinese parts. Many factories were shut down, and those that stayed open produced far fewer vehicles than originally anticipated. The development of automotive cybersecurity products was similarly down 6-8 percent in the first two quarters of the year, though Persistence indicated that the industry stabilized in the second half of 2020.

Persistence indicated that the Asia Pacific region will display the most growth, with India exhibiting a CAGR of 13 percent. The US, on the other hand, will trail the average with a CAGR of only seven percent.

Filed Under: Industry News Tagged With: automotive, automotive cybersecurity, automotive technology, connected cars, cybersecurity, industry reports, industry trends, market forecasts, market reports, Persistence Market Research

Related News & Articles

Frost & Sullivan Award Cognitec for Leadership in Customer Value

India’s Pagaria Orders More NEXT Sensors for POS Terminals, Bluetooth Readers

Alipay Launches In-App Biometric Art Game

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi's product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • INTELITY Streamlines Hotel Check-in With Mobile ID Solution
  • Finland Advances National Digital ID Bill
  • T-Mobile Seeks to Sell User Data While Protecting Privacy
  • Pixel 6A Shows Improved Fingerprint Performance in Early Review
  • Instagram Uses Yoti’s Age Estimation Tech to Keep Out Minors

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 MobileIDWorld