Automotive cybersecurity market to witness a staggering CAGR of 23.5% over 2018-2024, collaborations and JVs to characterize the strategic landscape
In an era where connected cars are deemed to mark the future of mobility, automotive cybersecurity market is indeed set to occupy a pivotal stance in smart and sustainable tech space. The cyber threats or security breaches in connected cars enable external access to the vehicle’s network and not just compromise the driver’s data privacy but can also pose serious threats to the driver’s physical safety and car’s operation. With data security breaches becoming intensely sophisticated, automotive cybersecurity industry has turned out to be an inevitable investment spot that would aid automotive sector’s continued roadmap toward connectivity without risk.
Spain Automotive Cybersecurity Market Size, By Security, 2017 & 2024 (USD Thousand)
The dynamics of automotive cyber security involves two major rationales; the product’s design, developments, maintenance, and operations and the operating environment comprising the regulatory and strategic framework. The multiple aspects associated with the two parameters are sort of prerequisites for the automotive cybersecurity market players to enhance and expand their stance in this landscape.
Speaking of competitive trends, strategic collaborations and partnerships have emerged as two of the top-notch measures adopted by the automotive cybersecurity market giants. One of the recent trends in this regard has been the JVs established between the automotive companies and technology conglomerates, in a bid to understand and resolve the security complexities in modern or connected vehicles.
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One of the recent instances that validates the growing stance of collaborations & JVs as prominent growth tactics has been the partnership between SafeRide, one of the formidable automotive cybersecurity market players and Netherland based digital platform security giant, Irdeto. Under the terms of the recently inked partnership, SafeRide in collaboration with Irdeto is claimed to provide the OEMs and tier -1 automotive suppliers with a holistic cybersecurity solution for autonomous and connected vehicles. Allegedly, SafeRide’s flagship vSentry solution would be integrated with Irdeto’s famous Connected Transport solution, Cloakware, to offer a multi-layered approach in protecting the platforms against tampering, automated attacks, and reverse engineering.
The aforementioned instances only bear a fraction of the developments underlining automotive cybersecurity market, which as per Global Market Insights, Inc., would surpass a valuation of USD 837 million by 2024. The growing deployment of in-vehicle connectivity such as infotainment services, navigation, mobile phone connectivity, voice recognition, and communication in modern vehicles has further allowed the automotive cyber security market to make profound inroads in consumer vehicle segment. As per estimates, this particular application segment procured almost 90% of the global share in 2017.
Not to mention, the collaborative approach of the governmental agencies and with software players to provide telematics cybersecurity solutions is another prominent factor characterizing the automotive cybersecurity industry outlook.
In May 2018, The Department of Homeland Security Science and Technology Directorate partnered with the Volpo National Transportation Systems, a subsidiary of DOT, with an aim to build an efficient operational network and cybersecurity implementation for telematics systems in Federal vehicles. In yet another instance, Red Balloon Security, the globally acclaimed embedded security technology leader and Auto-ISAC had recently announced the commencement of a new partnership. The two entities through this tie-up intend to provide advanced security tools and training programs to spread cybersecurity awareness in the automotive sector. Red Balloon Security’s advanced specialized tools and trainings are expected to help professionals deal with potential cyber threats in vehicle embedded device systems in a much comprehensive way.
Powered by the dynamism in the growth portfolio, investors are highly optimistic toward the revolutionizing automotive cyber security market outlook and are betting big to exploit the potential opportunities it is likely to offer. The renowned Japanese automotive component manufacturer Denso’s USD 2 million investment in Dellfer, the renowned cybersecurity and IOT giant this year marks the onset of this approach by the automotive sector. The deal also implicates the rising focus of the auto giants toward protecting the connected vehicles from potential and rather sophisticated cyber threats. It is overt that with the increasing commercialization of autonomous and connected vehicles, the deployment of cybersecurity technologies is deemed to be humongous. In terms of profitability, the global automotive cybersecurity market is slated to record a double-digit growth rate over 2018-2024.
Author Name : Satarupa De
Global single board computer market to procure USD 1 billion in valuation by 2025, escalating developments in semiconductor design and manufacturing to augment the industry landscape
The growing technological advancements in IoT coupled with the rising demand for smart connected devices will drive single board computer (SBC) market in the years to come. Basically a compressed, low-cost version of a typical computer, an SBC comprises similar components such as microprocessors, memory, input/output (I/O) and other features all embedded on a tiny circuit board.
China single board computer market size, by processor, 2018 & 2025 (USD Million)
The product has become significantly important for developers seeking ways to design products with greater intelligence, performance and connectivity while reducing power consumption, costs and size. Indeed, the product continues to evolve in sophistication, while its range of possibilities expand. For instance, nowadays SBCs come with features like Bluetooth and Wi-Fi compatibility making them ideal in applications associated with IoT (Internet of Things).
The deployment of the Internet of Things (IoT) in almost all industrial applications will significantly boost the growth of the SBC market in the years to come. By using SBCs, manufacturers are now able to offer efficient IoT solutions to customers. The product has certainly propelled the growth of the IoT sector in the last few years, offering a much smoother commercialization. According to reports, business infrastructure and operations professionals are rapidly shifting towards IoT, while studies indicate that a major proportion of decision-makers are already using IoT-enabled applications from building connected products to transforming operational processes. With rising IoT adoption, IoT software providers like IBM, Cisco, Amazon, GE, and other giants are now developing solutions that simplify the design, creation, integration, and management of IoT infrastructure and enterprise data. This in consequence will majorly propel the product demand, eventually pushing SBC industry trends.
Technological advancements in embedded technology will boost the SBC market
Semiconductor processors, being the core of any SBC, are rapidly evolving to match the capability of modern day applications. To attract the vast tech-savvy customer base, engineers are constantly adopting advanced embedded technologies to gain a competitive edge. For instance, the neural processing unit (NPU) is anticipated to be the next focus for chipmakers as it helps speed up computer-vision applications, such as object and image recognition, and offers enterprises and manufacturers a more powerful platform for developing products used from smart building applications to driverless vehicles.
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Prominent companies are investing heavily in the development of these new technologies. The Chinese tech giant Huawei, in collaboration with Linaro, recently launched its new SBC called HiKey 970 AI computing platform which uses the world’s first AI mobile processor, Huawei’s Hisilicon Kirin 970 chipset along with a dedicated Neural Processing Unit (NPU). This is quite vividly, an instance that demonstrates how product innovation and investments in technological advancements will add momentum to the expansion of the SBC industry.
Powered by rapid technological developments, single board computers have paved their way into medical sector as well. Medical devices are increasingly being integrated with SBCs to perform and monitor a wide range of clinical processes. The product’s reliability, power and versatility have made it ideal for developing customized medical electronic devices, medical monitoring systems, fault-tolerant wearable computers and more. Strategic partnerships between tech giants and medical healthcare firms will thus majorly augment the growth graph of SBC industry.
While SBC market has quite appreciable consolidated itself worldwide, the APAC is said to emerge as a prominent revenue pocket for this industry in the years to come. This may plausibly be the case on account of the expanding electronics industry in the region. With the presence of several consumer electronics and tech firms, the APAC SBC industry is anticipated to depict considerable growth over 2019-2025. Growing government support toward building in-house consumer electronics, such as smartphones, tablets and other gadgets in countries like India and China, will also boost the APAC single board market demand.
Being highly-scaled versions of traditional PCs and laptops, SBC are expected to continue finding long-term application in IoT-driven verticals and consumer electronics. Powered by rapid technological advancements in semiconductor processors and AI, single board computer market is forecast to chronicle itself in the billion-dollar business sphere by 2025.
Author Name :Paroma Bhattacharya