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Automotive Cybersecurity Market worth $6.0 billion by 2028 – Exclusive Report by MarketsandMarkets™

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CHICAGO, June 23, 2023 /PRNewswire/ — Automotive Cybersecurity Market size is projected to grow from USD 2.5 billion in 2023 to USD 6.0 billion by 2028, at a CAGR of 18.5%, according to a new report by MarketsandMarkets™. The demand for automotive cybersecurity solutions is fueled by the increased use of electronics per vehicle, a growing number of connected cars, reinforcement of mandates by regulatory bodies for vehicle data protection, significantly growing global automotive V2X market, and the rising sales of electric vehicles globally.

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Browse in-depth TOC on “Automotive Cybersecurity Market”.
256 – Tables
103- Figures
351 – Pages

 Automotive Cybersecurity Market Scope:

Report Coverage

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Details

Market Size

USD 6.0 billion in 2028

Growth Rate

18.5% of CAGR

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Largest Market

Asia Pacific

Market Dynamics

Drivers, Restraints, Opportunities & Challenges

Forecast Period

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2023 – 2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

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Segments Covered

Application, Offering, Form Type, Security Type, Approach,  Vehicle Type, Propulsion Type, Vehicle Autonomy, EV Application, and Region

Geographies Covered

Asia Pacific, Europe, North America, and the Rest of the World

Report Highlights

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Updated financial information/Company Evaluation Quadrant

Key Market Opportunities

Advent of software-defined vehicles

Key Market Drivers

Electric vehicles more vulnerable to cyber attacks

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Passenger vehicle segment is expected to have largest share in the global automotive cybersecurity market

The passenger vehicles segment is anticipated to dominate the global automotive cybersecurity industry in the foreseeable future. This is owing to the rising demand for connected vehicle technology paired with the increasing sales of luxury vehicles. Also, the increasing focus towards V2X technology owing to the rising concerns over traffic, safety, as well as pollution levels is anticipated to bolster revenue growth for the passenger vehicles segment of the global automotive cybersecurity market. For instance, Audi A4 and Cadillac CTS are passenger vehicles that are equipped with V2X technology. Moreover, the rising adoption of ADAS equipped passenger vehicles is also another major factor creating the need for automotive cybersecurity solutions globally.

Endpoint security segment is expected to have significant growth opportunities in global automotive cybersecurity market

The endpoint security segment is anticipated to have significant growth opportunities in Europe and Asia Pacific during the forecast period. Rising concerns pertaining to the safety and security in Europe and Asia Pacific regions are also likely to increase the demand for endpoint security solutions. New vehicles launched in the global market contain around 100 million lines of code and are typically deployed with complex software by automotive manufacturers/OEMs. Automotive OEMs are opting for endpoint security solutions in order to maintain the safety as well as security of a vehicle’s entire code base. All these aforementioned factors are expected to augment revenues for endpoint security segment of the automotive cybersecurity market in the foreseeable future.

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Germany to lead the automotive cybersecurity market in Europe

Germany is the largest automobile market in Europe. It is one of the most advanced and innovative automotive industries in the world. It is known for its engineering excellence and presence of automotive players such as Volkswagen, Audi, Mercedes-Benz, and Daimler, among others. In addition, Germany is one of the leading vehicle manufacturers in Europe, owing to the presence of OEMs and tier 1 companies. Luxury vehicle manufacturers like BMW, Volkswagen, and Mercedes Benz have their head offices in Germany. Germany is one of the countries in Europe to have agreed to follow WP.29 regulations for automotive cybersecurity, which will help accelerate the demand for automotive cybersecurity solutions in the country during the forecast period.

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Key Market Players:

The automotive cybersecurity companies are Robert Bosch GmbH (Germany), Continental AG (Germany), Harman International (US), DENSO Corporation (Japan), and Aptiv PLC (Ireland), among others. These companies have adopted strategies of new product development, expansions, collaborations, partnerships, and acquisitions to gain traction in the market. Collaborations were the most adopted strategy, among others.

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Recent Developments:

  • In February 2023, ETAS (a subsidiary of Robert Bosch GmbH) offered ESCRYPT C_ycurRISK, a software tool for threat analysis and risk assessment. It allows the automotive OEMs and suppliers to identify security vulnerabilities during vehicle development and reduce cyber risks systematically.
  • In January 2023, HL Mando Corporation collaborated with Argus Cyber Security. Through this collaboration, the Argus CAN Intrusion Detection Systems (IDS) solution was applied to HL Mando’s electrification system products, such as brakes and steering, beginning in January 2023.
  • In October 2022, NTT Communications Corporation, along with DENSO Corporation (DENSO), was supposed to develop the security operation center technology for vehicles (VSOC1) to respond to the threat of increasingly sophisticated cyber-attacks against vehicles.
  • In November 2022, Garrett Motion Inc. developed multi-layered on-and-off board intrusion detection systems (IDS) to identify cyber threats, which support OEMs to enhance vehicle security.
  • In November 2021, NXP Semiconductors collaborated with Ford Motor Company to deliver enhanced driver experiences, convenience, and services like over-the-air updates across its global fleet of vehicles, including the 2021 Ford F-150 pickup, Mustang Mach-E, and Bronco SUVs.
  • In October 2021, Renesas Electronic Corporation acquired Celeno Communications (Israel) to develop more advanced Wi-Fi connectivity capabilities to deliver end-to-end connectivity solutions for clients and access points.
  • In September 2021, Harman International collaborated with Renault (France) to provide the Harman Kardon sound system to the Renault Mégane E-TECH 100% electric that is expected to be launched in 2022.
  • In July 2021, ETAS Korea, a subsidiary of Robert Bosch GmbH, signed a partnership agreement with Suresoft Tech Co., Ltd. (South Korea) to offer consulting services and solutions related to cybersecurity testing of in-vehicle systems to Korean automotive manufacturers and suppliers.
  • In July 2021, NXP Semiconductors collaborated with Moter Technologies, Inc. (US) to combine its new S32G2 high-performance automotive processors with MOTER’s insurance data science expertise and software. This is expected to enable vehicle data monetization with new and improved automotive insurance services.
  • In May 2021, ESCRYPT, a subsidiary of ETAS Inc, which is a subsidiary of Robert Bosch GmbH, partnered with Alyne GmbH and KPMG to offer joint expertise in developing the Product Security Organisation Framework (PROOF).

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Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting

Related Reports:

V2X Cybersecurity Market – Global Forecasts to 2028

Connected Car Market – Global Forecasts to 2026

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Automotive Software Market – Global Forecasts to 2027

ADAS Market  – Global Forecasts to 2030

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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MarketsandMarkets™ INC.
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Email: [email protected]
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Blockchain Press Releases

JANONE CONFIRMS NAME CHANGE TO ALT5 SIGMA CORPORATION AND NEW TICKER SYMBOL TO ALTS

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LAS VEGAS, July 13, 2024 /PRNewswire/ — JanOne Inc. (Nasdaq: JAN), a multidisciplinary organization with a focus on fintech and healthcare, confirmed today that, as of market open on Monday, July 15, 2024, the Company’s new name will be “ALT5 Sigma Corporation” and its Nasdaq common stock ticker symbol will change to “ALTS”. This will replace the Company’s current ticker symbol “JAN”. Further, the Company’s website address will change from “janone.com” to “alt5sigma.com.”

The Company’s change of name, ticker symbol, and website address aligns with the Company’s realignment to focus on its recently acquired, ALT5 Sigma fintech as its core engine for revenue growth.

This realignment and changes in corporate name and the ticker symbol were previously announced on July 10, 2024. No action by the Company’s stockholders is required with respect to the ticker symbol change. The Company’s CUSIP number and transfer agent will remain unchanged.

Marking the changes confirmed today, Tony Isaac, Company CEO, observed, “We are pleased to complete the changes to our name and ticker symbol as the initial steps in our previously announced diversification into fintech, while keeping our biotech’s trajectory on track, all for the benefit of our stockholders.”

About JanOne/ALT5 Sigma

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The Company is a unique Nasdaq-listed multidisciplinary organization with a focus on healthcare and fintech. The Company is one of the constituents of the Russell Microcap Index, starting June 28, 2024.

Through its fintech activities, the Company provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm for the trading, clearing, settlement, payment, and custodianship of digital instruments. Through its fintech subsidiaries, the Company offers two main platforms to its customers: “ALT5 Pay” and “ALT5 Prime”. The subsidiaries processed over US$1.2 billion in cryptocurrency transactions in 2023.

ALT5 Pay is a crypto-currency payment gateway that enables registered and approved global merchants to accept and make crypto-currency payments or to integrate the ALT5 Pay payment platform into their application or operations using the plugin with WooCommerce and or ALT5 Pay’s checkout widgets and APIs. Merchants have the option to convert to fiat currency (s) automatically or to receive their payment in digital assets.

ALT5 Prime is an electronic over-the-counter trading platform that enables registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat and, equally, can sell digital assets and receive fiat. ALT5 Prime is available through a browser-based access mobile phone application named “ALT5 Pro” that can be downloaded from the Apple App Store, from Google Play, through ALT5 Prime’s FIX API, as well as through Broadridge Financial Solutions’ NYFIX gateway for approved customers.

Through its biotech activities, the Company is developing innovative, actionable solutions intended to help end the opioid crisis. The Company is dedicated to funding resources toward innovation, technology, and education to find a key resolution to the national opioid epidemic, which is one of the deadliest and most widespread in the nation’s history. Its drugs in the clinical trial pipeline have shown promise for their innovative targeting of the causes of pain as a strategic option for physicians averse to exposing patients to addictive opioids.

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Forward Looking Statements

This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the profitability and prospective growth of ALT5’s platforms and business, that may include, but are not limited to, international currency risks, third-party or customer credit risks, liability claims stemming from ALT5’s services, and technology challenges for future growth or expansion. This press release also contains statements and links relating to risks that JAN 101 will treat PAD, that JAN 123 will treat CRPS, the timing of the commencement of clinical trials, that the FDA will permit approval through a 505(b)(2) pathway for JAN 123, that upon approval JAN 101 will immediately disrupt the PAD market, and other statements, including words such as “continue”, “expect”, “intend”, “will”, “hope”, “should”, “would”, “may”, “potential”, and other similar expressions. Such statements reflect the Company’s current view with respect to future events, are subject to risks and uncertainties, and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies.

Many factors could cause the Company’s actual results, performance, or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others, those detailed in the Company’s periodic reports filed with the Securities and Exchange Commission (the “SEC”). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in the Company’s filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. The Company cannot assure that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Media Contact Investor Relations
[email protected]
1-800-400-2247

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Blockchain Press Releases

Battle for Glory at Bybit Web3’s Ultimate Memecoin Arena: Compete to Win $50,000 in Prize Pools

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DUBAI, UAE, July 12, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to announce the launch of its blockchain clash competition: the Ultimate Memecoin Arena (UMA). This event will showcase a thrilling showdown between two heavyweight meme tokens, Ponke and Brett, representing Solana and Base — two blockchains battling to be the main venue for memecoin launches and trading.

Kicking off on Jul. 11, 2024, at 10AM UTC, and running through Jul. 25, 2024, participants will engage in an epic clash between Solana and Base by supporting their favorite coin from their chosen blockchain. This trading competition is not just for the individual, by siding with the top team, participants will grab the Ultimate Prize Pool for their team.

Prize Pools:

  1. PONKE Prize Pool: $12,500 worth of PONKE tokens
    1. Eligibility: Trade at least $300 worth of PONKE tokens to qualify for a share of this pool.
  2. BRETT Prize Pool: $12,500 worth of BRETT tokens
    1. Eligibility: Trade at least $300 worth of BRETT tokens to qualify for a share of this pool.
  3. Ultimate Prize Pool: $25,000 worth of PONKE & BRETT tokens
    1. The pool with the highest trading volume will win the entire Ultimate Prize Pool.
    2. Rewards will be distributed among participants who have traded at least $300 of the winning token.

How to Participate:

  1. Prepare your Bybit Cloud Wallet or any Seed Phrase Wallet.
  2. Transfer SOL to your wallet for the PONKE Prize Pool or WETH for the BRETT Prize Pool.
  3. Swap at least $300 worth of PONKE or BRETT tokens to be eligible for their respective prize pools.
  4. Engage in trading to contribute to the Ultimate Prize Pool.

The trading competition is the first to be held on Bybit Web3 DEX Pro, a revolutionary decentralized exchange with over 1 million tokens to trade modeled after Bybit’s institutional-grade trading interface. Bybit Web3 DEX Pro surpasses typical CEX offerings, equipping users with i-SMART data intelligence technology. This powerful suite provides traders with on-chain and social media data, allowing them to make informed and smarter decisions.

“This competition is about embracing the excitement and community spirit of the crypto world,” said MK Chin, Bybit Web3 evangelist. “We’re excited to see how participants strategize and trade their way to victory in this thrilling competition.”

Don’t miss your chance to participate in the Ultimate Memecoin Arena and compete for glory and substantial rewards. Join Bybit in the battle of the meme tokens and trade your way to victory!

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#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.

For media inquiries, please contact: [email protected]

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For more information, please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

Bybit Web3 and Ignition Join Forces to Bridge the Gap Between Bitcoin and Ethereum

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DUBAI, UAE, July 12, 2024 /PRNewswire/ — Bybit, the world’s second-largest web3 platform by trading volume, breaks down barriers between Bitcoin and the Ethereum Virtual Machine (EVM) ecosystems with its partnership of Ignition. Supported by core contributors Mantle and Antalpha Prime, Ignition is paving the way for a low-friction and interoperable future. It extends Bitcoin’s functionality beyond its traditional role as a store of value and transforms it into a reliable asset for cross-chain integrations and diverse yield opportunities.

Bybit Web3 Wallet will support FBTC, an omnichain Bitcoin asset pegged 1:1 to BTC, introduced by Ignition. This strategic collaboration empowers users to unlock the full potential of Bitcoin within the thriving EVM ecosystem, reflecting Bybit Web3’s philosophy of openness, simplicity, and equality.

“We are thrilled to partner with Ignition, which aligns with Bybit’s mission to provide users with innovative and seamless DeFi solutions. By integrating Ignition and FBTC, we are not only enhancing liquidity and interoperability but also paving the way for a more inclusive and dynamic crypto ecosystem,” added MK Chin, Bybit Web3 Evangelist.

FBTC: Bridging the Divide between Bitcoin and non-Bitcoin Ecosystems in Web3

Introduced by Ignition, FBTC is an omnichain Bitcoin asset pegged 1:1 to BTC aimed at elevating Bitcoin’s accessibility and utility. As a secure, decentralized, and composable liquid Bitcoin asset with deep liquidity, $FBTC can be used at scale and easily integrated into various yield enhancement strategies like liquidity pooling, collateral, and staking.

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Under Ignition, $FBTC’s growth will be driven by a comprehensive roadmap and strong developer support, ensuring its long-term success and sustainable growth.

Bybit Web3: A Partnership for Enhanced DeFi and User Opportunities

Bybit is at the forefront of adopting the Ignition ecosystem, reinforcing Bybit’s commitment to pioneering innovative solutions for the crypto community. Bybit Web3 users will now have access to a multitude of products and opportunities within the burgeoning Ignition space. 

This integration unlocks a range of benefits for users:

  • Enhanced Liquidity: FBTC opens the door to increased liquidity, allowing users to trade and invest in Bitcoin with greater ease within the EVM ecosystem.
  • Diverse Yield Opportunities: Users can explore a variety of attractive yield-generating strategies with FBTC, maximizing the earning potential of their Bitcoin holdings.
  • Seamless Interoperability: FBTC bridges the gap between various blockchain networks, ensuring users can move their assets freely and efficiently.

Coming Soon: Swap and Staking on FBTC

Bybit Web3 users can look forward to using their Bybit Web3 Wallet to swap and stake on FBTC in the later half of July. For more information, please visit: https://www.bybit.com/en/web3/home

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#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 10 million wallet users, over 20 major ecosystem partners, and counting. 

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 33 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

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For more details about Bybit, please visit Bybit Web3.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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