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IHS: Automotive Cybersecurity Market to Soar

IHS: Automotive Cybersecurity Market to Soar

Source: Automotive IT

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Demand for software and cloud-based services to protect connected cars will soar to $759 million in the next seven years, according to a new market forecast.

IHS Markit predicts that, by 2023, a quarter of all vehicles sold will be equipped with cybersecurity cloud services. Revenue from these services will total $389 million.

In addition, the market researchers project that royalty revenue for cybersecurity software programs will jump to $370 million by 2023 from less than $1 million this year.

IHS Markit sees cybersecurity as one of the toughest challenges faced by the auto industry as virtually all new cars will be connected. “More vehicles with telematics and embedded modems make connected cars an attractive target to cyber criminals, terrorists and nation states,” senior analyst Colin Bird said in a press release.

Technologies already exist to improve the security of wireless interfaces and automakers are building architectures to isolate safety-critical from non-critical  systems. But, longer term, IHS Markit said, “integral electrical architectures within vehicles will be designed from the ground up with cybersecurity in mind.”

The cybersecurity challenge is aggravated by the growing complexity of automotive software today. IHS Markit estimates that 50 percent of a vehicle’s development cost is already related to software or electronic components. And mainstream vehicles today run 20 million-30 million lines of code on at least 50 electronic control units (ECUs).

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