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Automotive Cyber Security Market Growth Projections and Opportunities
In 2021, the automotive cyber security market was estimated to be worth USD 1.82 billion and is expected to increase at a CAGR of 18.5% between 2022 and 2030, from USD 2.36 billion in 2022 to USD 8.94 billion by 2030. The policies, technology, and controls used in the cloud security space are what are driving the industry expansion.
The automotive cybersecurity market is characterized by dynamic and evolving market dynamics, shaped by the intersection of technological advancements, increasing connectivity in vehicles, and the growing threat landscape of cyberattacks. One of the primary market dynamics is the rising integration of advanced technologies in modern vehicles. As vehicles become more connected, with features like infotainment systems, autonomous driving capabilities, and vehicle-to-everything (V2X) communication, the attack surface for cyber threats expands significantly. The market dynamics are influenced by the imperative to secure these technologies, safeguard sensitive data, and protect the overall safety of connected vehicles.
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 2.36 Billion |
| Market Size Value In 2023 | USD 2.79 billion |
| Growth Rate | 18.5% (2022-2030) |
Automotive Cyber Security Market Highlights:
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