Security News > 2022 > February > Automotive cybersecurity industry to reach $32.41 billion by 2030

The global automotive cybersecurity industry was pegged at $7.23 billion in 2020, and is expected to reach $32.41 billion by 2030, growing at a CAGR of 16.6% from 2021 to 2030, according to Allied Market Research.

Rise in need for automotive cybersecurity, mandatory cybersecurity standards, and government initiatives for implementing connected car technology have boosted the growth of the global automotive cybersecurity market.

The automotive cybersecurity industry COVID-19 scenario.

The delays in activities and initiatives about development of modern automotive cybersecurity systems in connected cars hampered the market.

The segment held the largest share in 2020, contributing to more than two-fifths of the global automotive cybersecurity market, due to rise in investments in making secure applications.

North America's automotive cybersecurity industry held the largest share.

News URL

https://www.helpnetsecurity.com/2022/02/24/automotive-cybersecurity-industry-2030/