In today’s digital age, the electric vehicle (EV) industry is not only revolutionizing transportation but also facing numerous cybersecurity challenges. As EVs become more connected and reliant on technology, the need to secure these vehicles from cyber threats has never been more crucial. In this blog post, we will delve into the statistics surrounding cybersecurity in the EV industry, exploring the risks, trends, and implications for both manufacturers and consumers.
The Latest Cybersecurity In The Ev Industry Statistics Explained
An estimated 64% of people worldwide are concerned about the potential for automotive hacking.
The statistic that an estimated 64% of people worldwide are concerned about the potential for automotive hacking indicates a prevalent and widespread apprehension about the cybersecurity risks associated with modern vehicles. This finding suggests that a significant majority of individuals recognize the vulnerability of automotive systems to hacking and are worried about the potential consequences of such breaches, including privacy invasion, safety hazards, and financial exploitation. The high level of concern among the global population signifies a growing awareness of cybersecurity issues in the automotive industry and underscores the importance of implementing robust security measures to protect vehicles and their occupants from cyber threats.
Research predicts the automotive cybersecurity market will experience a CAGR of 21.3% from 2021 till 2026.
This statistic indicates that based on research findings, the automotive cybersecurity market is projected to grow at a Compound Annual Growth Rate (CAGR) of 21.3% from 2021 to 2026. This implies that the market for cybersecurity solutions in the automotive industry is expected to expand steadily at a rate of 21.3% each year over the specified period. This growth rate signifies a significant upward trajectory in the demand for cybersecurity technologies and services tailored for vehicles, reflecting increasing awareness of the importance of protecting automotive systems from cyber threats and vulnerabilities. Such market projections can guide industry stakeholders, policymakers, and investors in understanding the anticipated trends and opportunities in the automotive cybersecurity sector over the next five years.
By 2025, 2/3 of new cars globally will have connected capabilities, increasing the need for cyber security in the EV industry.
The statistic suggests that by the year 2025, a significant majority of new cars being produced worldwide will come equipped with connected capabilities, highlighting the growing trend towards vehicle connectivity within the automotive industry. This shift towards connected cars is expected to create a greater demand for cyber security measures, especially within the electric vehicle (EV) sector. As connected cars become more prevalent, the risk of cyber attacks targeting vehicle systems and data increases, emphasizing the importance of implementing robust cyber security solutions to protect the integrity and safety of EVs and their users.
As of 2020, there were more than 150 separate cyber-threats and vulnerabilities specifically related to connected cars.
The statistic indicates that by 2020, there were over 150 distinct instances of cyber-threats and vulnerabilities that were specifically targeted at connected cars, highlighting the significant risks associated with the increasing connectivity of vehicles. These threats could potentially exploit weaknesses in the software, communication systems, or hardware of connected cars, posing serious security risks to both drivers and passengers. With the automotive industry shifting towards more technologically advanced vehicles that rely on connectivity for features such as navigation, entertainment, and autonomous driving, the need for robust cybersecurity measures to protect against these threats has become increasingly crucial to ensure the safety and integrity of connected vehicles on the road.
An approximation of $24 billion will be spent on automotive cybersecurity by 2030.
The statistic indicates an estimated expenditure of $24 billion on automotive cybersecurity measures by the year 2030. This figure reflects the growing importance of ensuring the security of connected vehicles and automotive systems, as the industry becomes increasingly digitized and reliant on technology. The investment in automotive cybersecurity is warranted due to the potential vulnerabilities that arise with the integration of software and connectivity in vehicles, posing risks such as hacking, data breaches, and unauthorized access. The substantial financial commitment projected for automotive cybersecurity by 2030 underscores the industry’s recognition of the need to safeguard vehicles against evolving cyber threats and protect the safety and privacy of drivers and passengers.
In 2021, 84% of automotive professionals in the United States were concerned about vehicle technology cyber risks.
The statistic “In 2021, 84% of automotive professionals in the United States were concerned about vehicle technology cyber risks” indicates that a large majority, specifically 84% of professionals working within the automotive industry in the United States, expressed worry or apprehension regarding the cybersecurity threats associated with vehicle technology. This statistic suggests that cybersecurity has become a prominent issue within the automotive sector, reflecting a growing awareness of the potential risks posed by advancements in technology within vehicles. The high percentage of concerned professionals highlights the importance of addressing and mitigating cyber risks to ensure the security and integrity of automotive technology and systems in the United States.
Around 1.39 million new cars in the US were connected cars in 2020.
The statistic “Around 1.39 million new cars in the US were connected cars in 2020” indicates that approximately 1.39 million new cars sold in the United States in 2020 were equipped with advanced connectivity features such as internet access, GPS navigation, and wireless networks. Connected cars have the capability to interact with other devices, services, and networks, enabling features like real-time traffic updates, remote diagnostics, and enhanced safety and convenience features. This statistic reflects the growing trend towards smart technology integration in the automotive industry and highlights the increasing consumer demand for connected vehicles that offer enhanced connectivity and convenience.
The number of vulnerabilities in automotive systems has grown nearly seven-fold since 2014.
The statistic stating that the number of vulnerabilities in automotive systems has grown nearly seven-fold since 2014 indicates a significant increase in the security risks associated with vehicles. This alarming trend suggests that the automotive industry is facing a growing number of potential cyber threats that could compromise the safety and security of vehicles on the road. The rapid advancement of technology in modern vehicles, particularly in terms of connectivity and automation, has created new avenues for cyber attacks. As a result, automakers and cybersecurity experts need to prioritize efforts to enhance the security measures in these systems to mitigate the risks posed by these vulnerabilities and safeguard both the vehicles and their passengers from potential security breaches.
Over 29 million vehicles worldwide will come standard with both embedded connectivity and Verizon Connect integrated solutions by 2021.
The statistic indicates that by the year 2021, over 29 million vehicles across the globe will be equipped with embedded connectivity technology along with integrated solutions from Verizon Connect. This means that these vehicles will be equipped with the capability to communicate and exchange data over the internet without the need for external devices. By integrating Verizon Connect solutions, these vehicles will have access to advanced fleet management and telematics services, allowing for real-time monitoring, communication, and optimization of various aspects such as vehicle performance, driver behavior, and overall fleet operations. This statistic highlights the increasing adoption of connected vehicle technology and the growing importance of data-driven solutions in the automotive industry.
The average vehicle today includes more than 100 million lines of software code.
This statistic indicates the increasing complexity and reliance on software technology in today’s vehicles. The average vehicle now incorporates over 100 million lines of software code to support functions such as engine management, driver assistance systems, infotainment, and connectivity features. This level of software integration highlights the shift towards more advanced and interconnected vehicles that rely heavily on software for various operations. With the rise of autonomous driving and electric vehicles, the importance of software in modern vehicles is only expected to grow further, emphasizing the need for continued innovation and robust software development practices in the automotive industry.
Nearly 69% of all network attacks in 2019 were on applications, significant for the rise of software-driven vehicles.
The statistic indicates that the majority (69%) of network attacks in 2019 targeted applications, highlighting a significant trend towards cyber threats focusing on software-driven vehicles. As modern vehicles become increasingly connected and reliant on software for various functions, they also become vulnerable to cyber attacks. This statistic underscores the growing importance of cybersecurity measures in the automotive industry to protect against potential breaches that could compromise the safety and functionality of software-driven vehicles. It emphasizes the need for robust security protocols and strategies to mitigate the risks associated with network attacks on applications within the automotive sector.
In 2015, researchers successfully hacked and took control of a Jeep Cherokee, emphasizing the dangers in the auto industry.
The statistic refers to a notable event that occurred in 2015 where researchers were able to hack into and gain control of a Jeep Cherokee vehicle, highlighting the potential vulnerabilities and dangers present in the auto industry as cars become increasingly connected and reliant on technology. This incident raised significant concerns about the cybersecurity risks associated with modern vehicles, particularly as more cars become equipped with internet connectivity and advanced computer systems. It underscored the importance of addressing cybersecurity threats in the automotive sector to ensure the safety and security of both drivers and passengers on the road.
Automotive industry is expected to invest $82 billion in cybersecurity by 2026.
The statistic “Automotive industry is expected to invest $82 billion in cybersecurity by 2026” highlights the increasing importance placed on cybersecurity within the automotive sector. With the rise of connected vehicles and autonomous driving technology, the industry faces growing cybersecurity threats that could compromise the safety and functionality of vehicles. As a result, automotive companies are projected to significantly increase their investment in cybersecurity measures over the next few years to protect vehicles and data from cyber attacks. This substantial investment reflects the industry’s recognition of the critical role cybersecurity plays in ensuring the integrity and security of modern vehicles and underscores the commitment to enhancing cybersecurity defenses to safeguard against potential threats.
Nearly 50% of consumers said they wouldn’t purchase a connected vehicle if it had previously suffered a cyber attack.
This statistic indicates that a significant portion of consumers, approximately half, have concerns about the security of connected vehicles in light of potential cyber attacks. Specifically, almost half reported that they would be hesitant to buy a connected vehicle if it had been previously targeted by such attacks. This suggests that cybersecurity threats are a major consideration for consumers when making purchasing decisions related to connected vehicles. The statistic highlights the importance for automobile manufacturers and policymakers to prioritize implementing robust cybersecurity measures to address consumer fears and ensure the safety and confidence of consumers in adopting this technology.
Between 2016 and 2019, the number of cybersecurity companies focusing on automotive has grown 577%.
The statistic states that between 2016 and 2019, there has been a notable and substantial increase in the number of cybersecurity companies specializing in automotive security, with a growth rate of 577%. This indicates a significant rise in the interest and investment in developing cybersecurity solutions tailored specifically for the automotive industry, likely driven by the increasing integration of advanced technologies, connectivity, and autonomous features in modern vehicles. The rapid growth in this sector suggests a recognition of the importance of protecting vehicles and their systems from potential cyber threats and vulnerabilities, reflecting the evolving landscape of cybersecurity in the automotive sector over the specified timeframe.
McKinsey estimates attack surfaces per vehicle may increase from approximately 50 to 200 by 2025 due to increased digital features in EV.
McKinsey’s estimate suggests that the attack surface, which refers to the potential entry points for cyberattacks on a vehicle, is expected to increase significantly from around 50 to 200 per vehicle by 2025. This growth is attributed to the expansion of digital features in electric vehicles (EVs). As EVs become more integrated with advanced technologies such as connectivity, autonomous systems, and sensors, the number of vulnerabilities that could be exploited by cyber attackers is anticipated to grow substantially. This statistic highlights the importance of ramping up cybersecurity measures in the automotive industry to safeguard against potential cyber threats and ensure the safety and integrity of increasingly connected vehicles.
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