Automotive Cybersecurity Market to Hit USD 32.41 Billion
Automotive Cybersecurity Market to Hit USD 32.41 Billion
https://www.openpr.com/news/4426980/automotive-cybersecurity-market-to-hit-usd-32-41-billion
Publish Date: 2026-03-17 01:29:00
Source Domain: www.openpr.com
According to a recent report published by Allied Market Research, titled, “Automotive Cybersecurity Market by Offering, Security Type, Application, and Form : Global Opportunity Analysis and Industry Forecast, 2021-2030.”
The global Automotive Cybersecurity market size was valued at $7.23 billion in 2020, and is projected to reach $32.41 billion by 2030, registering a CAGR of 16.6%.
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North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated the global automotive cybersecurity market share in North America in 2020, owing to increase in R&D activities; technological developments by key players; rapid adoption of innovative technologies in making reliable, safe, and secure automotive cybersecurity solutions. Europe is expected to grow at a significant rate during the forecast period, owing to rise in adoption of automotive cybersecurity regulations along with its huge demand for connected cars across several nations, for instance, UK, Germany, France, Russia, and Italy.
By offering, the automotive cybersecurity market is segregated into software and hardware. The software segment accounted for the highest revenue in 2020, owing to high demand for Automotive Cybersecurity software that can detect and protect rise in number of cyber-attacks.
On the basis of security type, the market is segmented into application security, network security, and endpoint security. The application security segment garnered the highest revenue in 2020, owing to rise in investments in making applications highly secure against cyber-attacks.
Depending on form, the automotive cybersecurity market is fragmented into in-vehicle, and external cloud services. The in-vehicle segment was the highest revenue contributor in 2020, owing to rise in demand for protecting in-vehicle communications from cyber-attacks on the…
