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North America Market for Cyber Security of Cars - By Type of Solution (Software based, Hardware based, Professional Service, Integration), Type of Security (Network Security ,Application Security, Cloud Security), Countries, Trends, Forecast - (2017 - 2022)

The North America Cyber Security of cars market is valued at USD XX.XX billion in 2016 and is expected to reach a value of USD XX.XX billion by the end of 2022, growing at a projected CAGR of 44.85% during the forecast period of 2017 – 2022. The US Department of Transportation has urged the automotive industry, by asking all the players to share information and work with researchers to tackle potential car hacking attacks. Cyber security is on the rise, with the government pushing the car companies to pay close attention to flaws identified by security researchers.   The  National Highway Traffic and Safety Administration  (NHTSA) has set out safety principles for 2016 that urges the OEMs to share knowledge on all information regarding security flaws. Thereby, in the light of growing safety norms, the market of safety systems is expected to get significant boost in the forecast period in the region. Various cross industry collaborations between automotive OEMs and mobile network operators (MNOs) are taking place for seamless internet connectivity inside a car to enhance the user experience of connected living, while driving. Connected Cars provides significant opportunities for innovative features and services driven by the consumer\'s preferences for vehicle infotainment and safety systems. However, these new features like navigation, infotainment and ADAS technologies make the vehicles vulnerable to cyber-attacks by making them more exposed to external software.  Thereby, it is critical for any safety principle deployed in a vehicle to engage with external cyber security researchers to facilitate better threat detection. Fiat Chrysler was forced to issue a software update for 1.4 million cars in July  due to their concerns that the on-board systems were vulnerable to hacking and unauthorised control. Major OEMs, including Volvo, Mercedes-Benz, Ford and General Motors, have all agreed to follow the NHTSA principles, highlighting how the industry is aware that cars could be vulnerable to cyber-attacks as they develop more connectivity. Furthermore, the NHTSA ensures to nurture participation in vehicle cyber security by the US government and the automotive industry. Intrusion Prevention Systems (IPS) is one of the major advancement for cyber security incorporated for OEMs, Tier 1s and aftermarket telematics providers. As a government tested solution, the IPS protects a vehicle\'s critical components from being hacked, and generates reports and alerts for remote monitoring of vehicles\' cyber health. The extensiveness of research in fending off malware, auto-correction of defunct components of the integrated software in connected cars and increased funding by the software solution provider towards cyber security software are the factors propelling the advancement and growth of cyber security systems in the region. The increased interest from all OEMs and connected car component manufacturers towards the security of cars would continue to help propelling the market. The ability to keep up with the evolving scenario and complexity of network access cyber security, along with huge increase in wireless traffic leading to ineffective integration of connected cars devices, form the major constraints in this market. Extensive research and integrated software in the malware detection system would considerably improve in the growth of the market. In North America, the cyber security of vehicles among software technology is expected to grow at a highest CAGR of about 24% during the forecast period. Among the consumer segment, the aftermarket for cyber security system for vehicles would grow at the highest rate with a CAGR of more than 32%. Cisco, Verizon, Arilou, Intel Security are some of the leaders in the market. WHAT THE REPORT OFFERS Market Definition along with identification of key drivers and restraints for the market. Market analysis with country specific assessments and competition analysis in the Cyber Security of Cars market in the North American region. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on the regional scale and at the country level. Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares. Identification and analysis of the Macro and Micro factors that affect the industry on both at the regional level and at the country level.

Published By: Mordor Intelligence
Published Date: Q1 2017

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