Study: Automotive Cyber Security Market Will Continue Growth

According to a new study by Grand View Research Inc., the automotive cyber security market has continued to expand and is expected to grow to $14.2 billion.

According to a new study by Grand View Research Inc., the automotive cyber security market has continued to expand and is expected to grow to $14.2 billion by 2030, according to a press release.

With features such as “remote start, online access, and intelligent voice assistants” being seen more frequently in cars and electronic vehicles having “increased connectivity and intelligence,” manufacturers will have to address securing the data these vehicles create.

Alongside a growing need for cyber security due to advancing technology, Grand View Research also cites “integrated car software, government standards and the imposition of mandatory cyber security requirements” as causes for the automotive cyber security industry becoming more relevant.

As the data coming from vehicles becomes more complex and valuable, Grand View Research also noted that the utilization of external cloud services to hold such data could “provide a highly-reliable technology.”

North America was revealed to be the second-largest market in the cyber security field, and the self-driving vehicles that are being manufactured in the country are signs of a further growing cyber security market there.

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Ratchet+Wrench Staff Reporters

The Ratchet+Wrench staff reporters have a combined two-plus decades of journalism and mechanical repair experience.
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