The Automotive Cyber Security market size will grow from USD 19.34 Million in 2017 to USD 40.60 Million by 2023, at an estimated CAGR of 13.15%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
The OBD area of application segment in the global automotive cyber security space is expected to be the fastest growing market in terms of CAGR as OBD ports commonly provide direct access, through the CAN bus, to the internal, most critical, and sensitive systems in the vehicle. Once the hackers’ agents are able to get on the OBD device, they can send out malicious messages over the vehicle’s bus which enables them to influence some of the vehicle’s elements, such as unlocking the doors and manipulating the instrument cluster and more. Application security, which refers to software security and code security from external and internal threats, is projected to grow at the highest CAGR in the automotive cyber security market. The importance of mobile devices in the connected car segment has significantly increased the usage of application security solutions across varied car manufacturers.
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