The global automotive cybersecurity market is projected to reach US$18.86 billion by 2033 as automakers add more connected and software-based technology to their vehicles, according to research firm MarketsandMarkets.
The firm estimates the market at US$6.88 billion in 2026 and forecasts a compound annual growth rate of 15.5 per cent through 2033. For dealers, the forecast comes as software, connectivity and remote updates become increasingly embedded in the vehicles entering showrooms and service departments, and in how those vehicles operate and are maintained.
MarketsandMarkets points to the increasing use of software-defined vehicle architectures, advanced driver-assistance systems, automated driving technology and connected vehicle features as factors contributing to demand for automotive cybersecurity. These technologies rely on growing numbers of software systems and communication interfaces that require protection.
Over-the-air software updates are another part of that shift. As manufacturers increasingly update vehicle software remotely, cybersecurity measures can include secure software updates, authentication, vulnerability management and ongoing monitoring of vehicle and cloud interfaces.
Software is expected to be among the faster-growing areas of automotive cybersecurity. The research firm links that growth to the increasing complexity of vehicle software and technologies including connected infotainment, telematics and centralized computing.
Cybersecurity requirements are also extending beyond individual vehicle components. MarketsandMarkets said manufacturers are developing security capabilities for vehicle operating systems, domain and zonal controllers, and centralized computing platforms as more vehicle functions become software-controlled.
The research also points to international standards and regulations, including ISO/SAE 21434 and United Nations regulations covering vehicle cybersecurity and software updates, as factors shaping cybersecurity practices within the global automotive industry.
