The Latest Cybersecurity In The Automotive Aftermarket Industry Statistics Explained
The automotive cybersecurity market is predicted to register a growth rate of 21.3% from 2020 to 2026.
This statistic indicates that the automotive cybersecurity market is projected to experience significant growth over the specified period of 2020 to 2026, with a forecasted annual growth rate of 21.3%. This anticipated growth suggests a rising demand for cybersecurity solutions within the automotive industry to protect vehicles from potential cyber threats and breaches. Factors driving this growth may include the increasing connectivity and digitization of vehicles, as well as the growing awareness of cybersecurity risks associated with smart cars. The robust growth rate highlights the importance of implementing effective cybersecurity measures to safeguard vehicles and ensure the safety and security of both drivers and passengers in the evolving automotive landscape.
30% of automotive companies have experienced cybersecurity incidents in their operational technology (OT) environments.
This statistic indicates that a significant portion, specifically 30%, of automotive companies have encountered cybersecurity incidents within their operational technology environments. Operational technology refers to the hardware and software used to monitor and control physical processes, such as manufacturing equipment or supply chain systems, within industrial settings. The fact that nearly one-third of automotive companies have faced such incidents highlights the vulnerability of these organizations to cyber threats that can impact their operations, potentially leading to disruption, financial losses, and reputational damage. It underscores the importance of implementing robust cybersecurity measures to safeguard OT environments and mitigate potential risks for automotive companies.
85% of original equipment manufacturers (OEMs) in the automotive industry cite cybersecurity as a significant challenge.
The statistic states that 85% of original equipment manufacturers (OEMs) in the automotive industry consider cybersecurity to be a significant challenge. This suggests that a vast majority of companies involved in designing and manufacturing vehicles are concerned about the potential risks and threats posed by cybersecurity issues. Given the increasing reliance on digital technologies and connectivity in modern vehicles, such as autonomous driving capabilities and advanced infotainment systems, it is crucial for OEMs to prioritize cybersecurity measures to protect against potential cyber attacks and safeguard the safety and security of their products and consumers. This statistic highlights the growing awareness and recognition within the automotive industry of the importance of addressing cybersecurity challenges to ensure the reliability and integrity of vehicles in an increasingly digitalized world.
Nearly 50% of automotive security incidents in 2020 were from keyless entry systems.
The statistic that nearly 50% of automotive security incidents in 2020 were from keyless entry systems indicates that a significant portion of security breaches in the automotive industry were attributed to vulnerabilities in keyless entry technology. This suggests that keyless entry systems were a primary target for car thieves or cybercriminals looking to exploit weaknesses in these systems for unauthorized access to vehicles. As keyless entry systems become increasingly popular in modern vehicles, the statistic highlights the importance of addressing and improving security measures to protect against such incidents and safeguard the integrity of automotive security systems.
47% of all vehicles on the market will be connected to the internet by 2022.
This statistic indicates that approximately half of all vehicles available for sale in the market will have internet connectivity by the year 2022. This trend highlights the increasing integration of technology and connectivity in the automotive industry, enabling vehicles to access the internet for various purposes such as navigation, entertainment, and communication. The widespread adoption of internet-connected vehicles suggests a shift towards more advanced and digital automotive systems that offer enhanced features and convenience for drivers and passengers. This statistic reflects the expanding role of technology in shaping the future of transportation and the continued evolution of the automotive sector towards a connected and smart mobility landscape.
The European automotive cybersecurity market is expected to witness a CAGR of 20.66% during the forecast period (2020 – 2025).
This statistic reflects the projected Compound Annual Growth Rate (CAGR) of the European automotive cybersecurity market over the forecast period from 2020 to 2025. A CAGR of 20.66% indicates the anticipated average annual growth rate of the market during this time frame. This growth rate suggests a rapidly expanding market for cybersecurity solutions within the European automotive sector, driven by increasing awareness of cybersecurity risks, regulatory requirements, and the growing integration of advanced technologies in vehicles. The projected CAGR of 20.66% implies significant opportunities for companies operating in this market to capitalize on the increasing demand for cybersecurity solutions to protect connected vehicles from cyber threats and vulnerabilities.
About 53% of companies in the automotive and transport sector have a formalized threat intelligence program.
The statistic indicates that approximately 53% of companies within the automotive and transport sector have implemented a structured threat intelligence program to help identify and mitigate potential cyber threats and security risks. This suggests that just over half of the companies in this sector have recognized the importance of proactively monitoring, analyzing, and responding to security threats in order to enhance their overall cybersecurity posture. By formalizing such programs, these companies are likely taking a more strategic and effective approach to safeguarding their systems, data, and operations against cyber threats that could compromise their business continuity and reputation within the industry.
In-vehicle infotainment (IVI) systems represent the greatest vulnerability to automotive cyber attacks, accounting for 30% of incidents.
This statistic highlights that in-vehicle infotainment systems are the most susceptible to cyber attacks within the automotive industry, comprising 30% of reported incidents. In-vehicle infotainment systems, which encompass features like navigation, music streaming, and connectivity with smartphones, are increasingly prevalent in modern vehicles, but their complexity and integration with external networks make them prime targets for cyber threats. These systems often have access to sensitive data and can serve as entry points for hackers to potentially gain control of critical vehicle functions or compromise safety and privacy. As such, addressing the cybersecurity vulnerabilities in in-vehicle infotainment systems is crucial for ensuring the overall security and reliability of connected vehicles.
As of 2020, 32% of automotive companies didn’t have a cybersecurity protocol.
The statistic “As of 2020, 32% of automotive companies didn’t have a cybersecurity protocol” indicates that nearly one-third of automotive companies surveyed did not have established measures in place to protect their online infrastructure and data from cyber threats. This suggests a potentially significant vulnerability within the industry, as cybersecurity protocols are essential for safeguarding sensitive information, customer data, and operational systems against cyber attacks and data breaches. The finding highlights the importance for automotive companies to prioritize cybersecurity measures to mitigate risks and ensure the security and integrity of their digital assets in an increasingly connected and data-driven environment.
According to an Upstream Security report, cybersecurity attacks targeting automotive organizations rose by 99% between 2018 and 2019.
The statistic indicates that cybersecurity attacks directed at automotive organizations increased significantly within a one-year period, specifically from 2018 to 2019. The 99% rise highlights a nearly twofold surge in the number of attacks, signifying a substantial threat to the cybersecurity posture and overall safety of automotive companies. This rapid escalation underscores the growing vulnerability of the automotive industry to malicious cyber activities, emphasizing the urgent need for enhanced security measures and proactive defense mechanisms to safeguard against cyber threats and potential breaches.
1 in every 5 automotive firms has experienced a cybersecurity incident originating from their supply chain.
This statistic indicates that a significant portion of automotive firms, specifically 1 out of every 5, have faced a cybersecurity incident that originated from their supply chain. This suggests a noteworthy vulnerability within the automotive industry related to cybersecurity risks and supply chain management. Such incidents can have serious consequences including data breaches, operational disruptions, and financial losses. Therefore, it is important for automotive firms to proactively address cybersecurity threats within their supply chain to mitigate risks and protect their operations, reputation, and sensitive information.
Product recalls due to software failures have increased from less than 5% to 15% in the automotive industry.
The statistic indicates that there has been a significant increase in the percentage of product recalls in the automotive industry attributed to software failures, rising from less than 5% to 15%. This suggests a growing concern with the role of software in vehicle safety and performance, highlighting the importance of ensuring the reliability and functionality of software systems in automobiles. The higher proportion of recalls due to software failures may reflect the complexity of modern automotive vehicles, which increasingly rely on software for various functions, including safety features and autonomous driving technologies. As software becomes more integral to vehicle operation, manufacturers will need to prioritize rigorous testing and quality control measures to prevent potentially dangerous malfunctions that could lead to recalls and compromise public safety.
According to a Capgemini survey, 68% of automotive companies are not adequately funded for cybersecurity.
The statistic from the Capgemini survey indicates that a significant portion, specifically 68%, of automotive companies lack sufficient funding for cybersecurity measures. This suggests that a majority of companies in the automotive industry may not have dedicated resources to adequately protect their systems and data from potential cyber threats. Insufficient funding for cybersecurity could leave these companies vulnerable to cyberattacks, data breaches, and potential financial losses or reputational damage. It highlights the importance for automotive companies to prioritize investments in cybersecurity to enhance their resilience against evolving cyber threats in today’s increasingly digital landscape.
It’s estimated that cybersecurity incidents cost auto manufacturers and suppliers around $1.3B per year.
This statistic indicates that cybersecurity incidents in the auto industry result in an estimated annual cost of $1.3 billion for both manufacturers and suppliers. These incidents likely involve data breaches, system disruptions, or other cybersecurity threats that can compromise sensitive information, operational efficiency, and overall business continuity. The financial impact of these incidents can be substantial, encompassing expenses related to remediation efforts, legal fees, compliance fines, reputational damage, and potential loss of revenue. As cyber threats continue to evolve and become more sophisticated, it is crucial for auto companies to invest in robust cybersecurity measures to mitigate the risk of such incidents and reduce the associated financial burden.
62% of automotive executives feel they don’t have enough cybersecurity skills in the industry.
The statistic “62% of automotive executives feel they don’t have enough cybersecurity skills in the industry” suggests that a significant majority of high-level professionals in the automotive sector perceive a deficiency in cybersecurity expertise among themselves and their colleagues. This finding indicates a widespread concern among executives about the current level of cybersecurity knowledge and capabilities within the industry. Such a perception could have implications for the development and implementation of effective cybersecurity measures in automotive companies, highlighting the need for investment in training and recruitment to address these skill gaps and enhance overall cybersecurity preparedness.
Approximately 1 in 4 vehicles will have at least one form of wireless network connection by 2020, equating to more than 260 million connected vehicles globally.
This statistic suggests that by the year 2020, around 25% of vehicles worldwide will be equipped with some form of wireless network connection. This connectivity could include features such as in-car WiFi, internet-enabled navigation systems, and wireless communication with other vehicles or infrastructure. With over 260 million connected vehicles expected globally, this trend highlights the increasing integration of technology in the automotive industry, leading to improved communication, safety, and convenience for drivers and passengers. This rapid growth in connected vehicles signifies a significant shift towards a more digitally connected and technologically advanced transportation ecosystem.
Almost 30% of consumers are actively using connected car services today, providing a huge network for cyber attacks.
This statistic highlights the increasing prevalence of connected car services among consumers, with nearly 30% actively utilizing such services. While this presents immense opportunities for convenience and innovation in the automotive industry, it also underscores the potential vulnerability to cyber attacks within this network. As more vehicles become equipped with technology that enables connectivity and data exchange, the risk of hacking and unauthorized access to sensitive information also rises. Manufacturers and cybersecurity experts must prioritize safeguarding these systems to prevent potential threats and ensure the safety and privacy of consumers using connected car services.
Japan accounted for the second-largest market share of 22.75% in 2018 in the global automotive cybersecurity market, after the US.
The statistic indicates that in 2018, Japan held the second-highest market share of 22.75% in the global automotive cybersecurity market, following the United States. This means that Japan’s share of the market for cybersecurity solutions specific to the automotive industry was notable and significant compared to other countries worldwide. The data suggests that Japan was a key player in the automotive cybersecurity sector, showcasing its strong presence and influence in developing and implementing cybersecurity measures to protect vehicles from potential cyber threats.
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