Automotive cybersecurity is still in its infancy but developments have accelerated since 2015, when several high-profile hacks showed the industry’s vulnerability and cost the companies affected a lot of money to fix. The attacks also emphasized big shortfalls in software capability and pushed compliance up the agenda.
With so much to play for, automotive cybersecurity has become a burgeoning but crowded sector. Suppliers already well positioned to benefit from the predicted boom include Robert Bosch, Harman, Cisco, Honeywell, NNG, Irdeto and Karamba and Continental-owned Argus, but IHS Markit senior automotive technology analyst Colin Bird describes the sector as “still very much the Wild West.”
Bird estimates revenues in the sector will have topped more than $30 million at the end of 2017, but will balloon to more than $2 billion by 2024. Said Bird: “About 90 percent of the dots remain to be joined so there is huge opportunity. Out of a