With the increasing number of vehicles, traffic jams, parking woes, and road accidents are becoming more common by the day. As most such issues are owed to human error, the need for automobile features that can assist human drivers has risen manifold in the past. The result is connected vehicles, which are able to not only keep people inside stay in touch with the outside world but also take a certain load off the shoulders of the human driver. Such vehicles offer internet connectivity for passengers’ smartphones, tablets, and laptops; navigation and breakdown assistance, aftermarket and insurance support, and many other conveniences.
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The one biggest downside of such a technology is perhaps its susceptibility to cyberattacks. Being a product of computer hardware and software, connected cars can be easily hacked into and have their data or themselves intercepted and stolen. Therefore, with the increasing number of connected vehicles on the roads and their perpetual vulnerability to cybercrime, the automotive cybersecurity market will reach $7,280.2 million by 2030 from $1,152.7 million in 2019, at an 18.5% CAGR between 2020 and 2030, says P&S Intelligence. Additionally, it is not just the vehicle’s software that can be hacked, but also the various networks with which the automobile communicates.
With the numerous experiments and pilot projects being carried out on autonomous vehicles, this automotive cybersecurity situation has become more complicated. For the success of autonomous vehicles, the usage of artificial intelligence (AI) for eye tracking, speech recognition, virtual assistance, driver monitoring, natural language interfaces, and gesture recognition is crucial. Any interference in the AI software can have grave consequences for those inside and outside, which is why the spotlight is presently shining bright on the issue of securing the automotive software.
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Due to all these factors, particularly the increasing adoption of connected cars by individuals and fleet owners, North America has been the largest automotive cybersecurity market till now. The U.S. is witnessing a large number of autonomous driving experiments and developments in the connected vehicle technology, which are being complemented by the advancements in automotive cybersecurity solutions. The country has already deployed telematics solutions for reducing the rate of road crashes, which has boosted the demand for automotive cybersecurity solutions as well.
Thus, as the demand for vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and in-vehicle connectivity rises, so will the importance of securing the automotive software from cybercriminals.
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