The Latest Cybersecurity In The Electric Car Industry Statistics Explained
By 2030, cybersecurity measures in the electric vehicle (EV) market are expected to generate over $759 million annually.
The statistic “By 2030, cybersecurity measures in the electric vehicle (EV) market are expected to generate over $759 million annually” suggests that by the year 2030, the adoption of cybersecurity measures within the electric vehicle industry is projected to yield significant financial returns, totaling more than $759 million per year. This indicates a growing recognition of the importance of protecting EVs from cyber threats and vulnerabilities, potentially driven by the increasing integration of digital technologies in vehicles. The substantial revenue anticipated from cybersecurity in this sector underscores the key role that secure systems and data protection are expected to play as advances in EV technology continue to evolve, emphasizing the need for investment in safeguarding against potential cyber risks.
Electric vehicles account for 2.6% of global car sales and about 1% of global car stock in 2019.
This statistic indicates that in the year 2019, electric vehicles represented a small but growing segment of the global automotive industry. Specifically, electric vehicles accounted for 2.6% of total car sales worldwide, meaning that roughly 2.6 out of every 100 cars sold were electric. In terms of the total car stock – which refers to the number of vehicles on the road at a given time – electric vehicles comprised around 1% of the global total. This suggests that while electric vehicles are gaining traction in terms of new purchases, they still make up a relatively small proportion of the overall vehicle fleet worldwide.
In 2020, there was a 350% increase in cyber attacks in the automotive industry.
The statistic “In 2020, there was a 350% increase in cyber attacks in the automotive industry” indicates a significant rise in cyber attacks targeting the automotive sector compared to the previous year(s). A 350% increase means that the number of cyber attacks in 2020 was more than three and a half times higher than in the previous period, pointing to a concerning trend of heightened vulnerability in the automotive industry to cyber threats. This steep increase could be attributed to various factors such as increased digitalization, connectivity, and reliance on technology within vehicles, making them more susceptible to cyber breaches. The statistic underscores the urgent need for the automotive industry to enhance its cybersecurity measures to protect against potential threats and safeguard sensitive information and systems from malicious actors.
A survey found that 64% of automotive manufacturers indicated that they test their products for cyber threats.
The statistic indicates that in a survey conducted among automotive manufacturers, 64% of respondents reported that they test their products for cyber threats. This finding suggests that a majority of automotive manufacturers recognize the importance of cybersecurity in the automotive industry and are taking proactive measures to protect their products from cyber threats. By conducting regular product testing for cyber vulnerabilities, these manufacturers are demonstrating their commitment to ensuring the safety and security of their vehicles and the data they collect. This statistic highlights the growing awareness and emphasis on cybersecurity within the automotive sector, reflecting a positive trend towards enhancing the protection of connected vehicles against potential cyber attacks.
Automotive cybersecurity market size is expected to be worth over USD 837 million by 2024.
The statistic indicates that the market for automotive cybersecurity products and services is projected to reach a value of more than USD 837 million by the year 2024. This growth reflects increasing concerns around the security of connected vehicles, as modern automobiles become more reliant on digital technologies and internet connectivity. As the automotive industry continues to evolve towards autonomous and connected vehicles, the need for robust cybersecurity solutions to protect against cyber threats and vulnerabilities becomes paramount. The anticipated market size suggests a substantial demand for cybersecurity measures within the automotive sector, highlighting the importance of ensuring the safety and security of vehicles and their associated systems.
McKinsey suggested in 2016 that connected car data breaches could expose automakers to damages of up to $1.1 trillion.
The statistic mentioned indicates that McKinsey, a respected consulting firm, warned in 2016 that the potential consequences of data breaches in connected cars could lead to significant financial damages for automakers. Specifically, they estimated that these breaches could expose automakers to losses totaling up to $1.1 trillion. This figure reflects the scale of risk associated with the increasing connectivity of modern vehicles, as cyber attacks on these systems could result in not only financial losses but also reputational damage and safety concerns for consumers. The statistic underscores the critical importance of enhancing cybersecurity measures in the automotive industry to safeguard both the financial well-being of companies and the safety of the general public.
48% of companies in the connected cars industry do not have a dedicated cybersecurity program or team.
This statistic means that a significant portion, 48%, of companies operating in the connected cars industry do not have allocated resources or personnel specifically focused on cybersecurity measures. This lack of a dedicated cybersecurity program or team suggests that these companies may be more vulnerable to cyber threats and attacks that could compromise the security and integrity of their connected car systems. As connected cars rely on digital technologies and networks, having a robust cybersecurity program is crucial to protect against potential breaches and safeguard the privacy and safety of users. The findings highlight the importance of prioritizing cybersecurity measures within the connected cars industry to prevent cyber incidents and ensure the overall security of connected vehicles.
Approximately 82% of the automotive industry professionals questioned in a survey believe their organization’s cybersecurity practices are not keeping pace with evolving cyber threats.
The statistic indicates that a significant majority, around 82%, of automotive industry professionals who were surveyed feel that their organization’s cybersecurity practices are falling behind in comparison to the evolving cyber threats. This high percentage suggests a widespread concern among professionals in the automotive industry about the adequacy of their cybersecurity measures. The findings imply that there is a perceived gap between the existing cybersecurity practices within these organizations and the constantly evolving nature of cyber threats, highlighting the need for improved cybersecurity strategies and investments in order to better protect sensitive data and infrastructure from potential cyber attacks.
There could be as many as 125 million connected passenger cars with embedded systems on the road by 2022.
This statistic suggests that by the year 2022, there could be a significant increase in the number of passenger cars equipped with embedded systems that are connected to the internet. These embedded systems enable various functionalities within the vehicle, such as navigation, entertainment, communication, and safety features. The projected number of 125 million connected passenger cars indicates a growing trend towards interconnected vehicles, potentially leading to advancements in automotive technology, improved driving experiences, and enhanced connectivity for drivers and passengers. This statistic underscores the increasing integration of technology in the automotive industry and highlights the shift towards a more digitally connected future on the roads.
Electric vehicle market size valued at over USD 121 billion in 2019.
The statistic that the electric vehicle market size was valued at over USD 121 billion in 2019 indicates the total monetary value of the global market for electric vehicles during that year. This figure reflects the total revenue generated from the sale of electric vehicles, including cars, buses, bikes, and other forms of electric transportation. The market size can be influenced by various factors such as government incentives, technological advancements, consumer demand, and environmental concerns. The substantial value of USD 121 billion underscores the significant growth and potential of the electric vehicle industry as a key player in the global automotive market.
The global electric vehicle market demand is expected to reach 5.8 million units by 2026.
The statistic stating that the global electric vehicle market demand is expected to reach 5.8 million units by 2026 indicates a significant growth and increasing adoption of electric vehicles in the global automotive market. This projection suggests a growing consumer interest in electric vehicles driven by factors such as environmental concerns, advancements in technology, government incentives, and increasing awareness about climate change. The expected surge in demand for electric vehicles is likely to drive innovation and investment in the electric vehicle industry, potentially leading to a significant transformation in the automotive sector towards sustainable and eco-friendly transportation solutions.
By 2025, 98% of new sold cars are expected to be connected to the internet, making them a potent target for hackers.
The statistic indicates that by the year 2025, the vast majority (98%) of newly sold cars are projected to be equipped with internet connectivity, presenting a potential vulnerability for cyber attacks from hackers. This rapid integration of internet technology in automobiles offers various benefits, such as enhanced navigation systems, real-time updates, and improved entertainment features. However, it also raises concerns about the security of these connected vehicles, as they could be targeted by malicious actors seeking to exploit weaknesses in the software or hardware to gain unauthorized access or control. As a result, there is a growing need for robust cybersecurity measures to safeguard the increasingly interconnected automotive industry and protect both consumers and their data from potential threats.
The average cost of a data breach in 2020 was USD 3.86 million.
The statistic “The average cost of a data breach in 2020 was USD 3.86 million” represents the average financial impact experienced by companies that suffered a data breach in the year 2020. This figure takes into account the direct costs associated with responding to and mitigating the breach, including expenses related to forensic investigations, notification of affected individuals, legal fees, and regulatory fines, as well as indirect costs such as reputational damage and loss of customer trust. The data breach cost serves as a crucial metric for organizations to understand the potential financial risks associated with data security incidents and underscores the importance of investing in robust cybersecurity measures to prevent and mitigate breaches.
Only 10% of the automotive companies have cybersecurity systems that are developed beyond the initial phase.
The statistic “Only 10% of the automotive companies have cybersecurity systems that are developed beyond the initial phase” indicates that a majority of automotive companies are lagging in the development of their cybersecurity systems. Specifically, it suggests that the vast majority of automotive companies have cybersecurity systems that are either in the initial phase of development or have not progressed much beyond it. This statistic highlights a potential vulnerability in the automotive industry in terms of protecting sensitive data and systems from cyber threats. It underscores the need for increased focus and investment in enhancing cybersecurity measures to safeguard against cyber attacks and potential breaches in the industry.
As much as 10% of all cyberattacks in the transportation sector are targeted at the automotive industry.
This statistic indicates that the automotive industry is a significant target for cyberattacks within the transportation sector, with as much as 10% of all cyberattacks directed towards this industry. This highlights the vulnerability of automotive companies to digital threats and the importance of cybersecurity measures for protecting sensitive data, intellectual property, and the safety of vehicles and their users. As technology becomes increasingly integrated into vehicles through connectivity and automation, the risk of cyberattacks targeting the automotive industry is expected to rise, making cybersecurity a crucial focus area for the sector to prevent potential damages and disruptions.
There was an 605% increase in cyber attacks against the automotive industry from Q1 2019 to Q1 2020.
The statistic that there was a 605% increase in cyber attacks against the automotive industry from Q1 2019 to Q1 2020 indicates a substantial and concerning rise in the frequency of cyber attacks targeting businesses within this sector. A 605% increase implies that the number of cyber attacks experienced by the automotive industry in Q1 2020 was more than six times higher than those in Q1 2019. This dramatic surge highlights a significant vulnerability within the industry’s cybersecurity defenses during the specified time period, necessitating urgent attention and action to strengthen protection measures and mitigate the risks posed by cyber threats.
When vehicles become more connected, it is expected that the cost of automotive cybersecurity will increase by 29.5% between 2020 and 2025.
This statistic suggests that as vehicles become more technologically advanced and connected, the expenses related to ensuring cybersecurity for automotive systems are projected to rise significantly. The estimated increase of 29.5% between 2020 and 2025 indicates a considerable growth in expenditures towards protecting vehicles from potential cyber threats and vulnerabilities. As cars incorporate more sophisticated features like internet connectivity, autonomous driving capabilities, and data collection mechanisms, the need for robust cybersecurity measures becomes paramount to prevent hacking incidents, data breaches, and unauthorized access to vehicle systems. This expected rise in automotive cybersecurity costs underscores the growing importance of addressing cybersecurity challenges in the automotive industry to safeguard the integrity and safety of connected vehicles.
It’s predicted that electric vehicle sales will reach 10 million by 2025, increasing the likelihood of cyber threats.
The statistic suggests that the sales of electric vehicles are projected to grow to 10 million by the year 2025, indicating a significant increase in the adoption of these environmentally friendly vehicles. This surge in electric vehicle sales may lead to a higher likelihood of cyber threats as these vehicles become more interconnected and dependent on technology. With more vehicles being connected to networks and systems that are vulnerable to cyber attacks, there is a potential increased risk of cybersecurity breaches targeting electric vehicles. This highlights the importance of implementing robust cybersecurity measures to protect the data and safety of electric vehicle drivers and the overall integrity of the electric vehicle market.
A 2019 report indicated that 30% of the surveyed automotive companies do not have a set of cybersecurity solutions in place.
The statistic that 30% of the surveyed automotive companies do not have a set of cybersecurity solutions in place, as reported in 2019, suggests a concerning lack of preparedness within the industry to address cybersecurity threats. This finding indicates that a significant portion of automotive companies may be vulnerable to potential cyber attacks or data breaches, which could have serious consequences for their operations, customers, and overall cybersecurity landscape. The absence of cybersecurity solutions could expose these companies to risks such as theft of sensitive information, disruption of operations, and damage to reputation. Addressing this gap in cybersecurity readiness is crucial for automotive companies to mitigate risks and safeguard their digital assets and systems against evolving cyber threats.
Research suggests that by 2035, more than 90% of all passenger vehicles in the US will be electrified, increasing the need for robust cybersecurity measures.
The statistic implies that a significant shift towards electric vehicles is anticipated in the US automotive industry by the year 2035, with over 90% of passenger vehicles expected to be electrified. This transition highlights the growing importance of implementing robust cybersecurity measures to protect the increased digital and connected systems within electric vehicles. As more vehicles become reliant on technology and connectivity, the potential risks and vulnerabilities to cyber attacks also escalate, necessitating the development and implementation of effective cybersecurity strategies to safeguard against potential threats. Therefore, the statistic underscores the critical need for prioritizing cybersecurity measures to ensure the safety and security of future electric vehicles on the roads.
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