Smart money is on connected cars

Smart money is on connected cars

The global market for autonomous vehicle security services may grow to £309m by 2025.

 

Business analyst IHS Markit says that while mobile-based services such as ride-hailing and car-sharing represent a threat to the core business of automotive manufacturers, they will have to embrace cybersecurity services as part of their ‘smart’ vehicle offerings.

 

In an MWC preview, IHS Markit says ‘As populations gather in greater numbers around dense urban metropolises, more people will find their personal mobility needs fulfilled by multi-modal transportation networks, in which ride-hailing and car-sharing will participate.

 

Many forms of automotive technology will enable these future mobility ecosystems. Ubiquitous connectivity will bring new infotainment content into the car via secure, upgradeable hardware and software services. Autonomous driving technology will transform the way we use our cars, and together a new user experience will come to define personal mobility, personal space and the future of transportation.’

 

IHS Markit forecasts more than 21 million autonomous vehicles will be sold globally in the year 2035 and nearly 76 million sold cumulatively across the world with some form of autonomy through that same timeframe, many of them enabling these new mobility services.

 

But cybersecurity will become an issue, and a potential source of revenue for the services sector. IHS says ‘The auto industry must add cybersecurity solutions to future connected car systems and start using the emerging solutions that are now available from many companies that have developed automotive-focused security products in the past few years. These security products are starting to be introduced to the market. Mostly, today’s firms are offering solutions that will improve security to wireless interfaces, like the telematics control unit (TCU) or to the automotive gateway, and will offer some type of isolation solution from the vehicle bus.’

 

‘In the longer term, integral electrical architectures will be built from the ground up with cybersecurity in mind. These systems will likely isolate safety critical systems (e.g., propulsion, braking, steering, etc.) from security critical systems that handle personal or financial data (e.g., infotainment software features and services). The connected car firewall is expected to be the largest segment within the IHS forecast, with an expected 179 million vehicles enabled with connected car firewalls by 2023.’

 

‘While there is plenty of revenue potential in software licensing for ECUs/microprocessor control units (MCUs), there is even more potential upside in services. The services sector of cybersecurity is expected to be by far the largest in terms of revenue under the forecast period, with an estimated £309 million in revenue in 2023, or approximately 51% of all the revenue generated in this sector.’

 

 

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