At present, the advancement in Connected Autonomous Vehicles (CAVs) made the safety and security of these vehicles a key factor for manufacturers as any malfunction or attack could lead to serious repercussions for the driver, passengers, or others outside of the vehicle. Plus, there are several types of cyber attacks frequently performed to automotive vehicles, which can be classified according to their types and entry points. Therefore, Cybersecurity for Automotives is related to the protection of its electronic systems, communication networks, algorithms, software, hardware, and data.
In the past few years, the cyberrisk of connected cars has become clear with security researchers revealing various technical vulnerabilities. The attackers in these cases, disclosed their findings to OEMs to help them fix the issues before malicious attackers caused harm. At present, only narrow standards and guidelines exist for specific technical procedures for securing hardware and software in vehicles, like standards for hardware encryption or secure communication among electronic control units (ECUs). All of this is likely to change in the future.
Additionally, upskilling employees, OEMs and other companies along the value chain must establish stricter cyber risk-management processes and compliance documentation. However, the decision to modify systems or adopt new ones often depends on a company’s organizational structure and maturity. Also, companies may need to adjust roles, responsibilities, and formal processes for assessing and managing cyber risks to vehicles. OEMs will need to respond immediately to security incidents, in the new environment, including those in which companies discover a new or potential vulnerability, or in which their vehicles are attacked by malicious hackers. Organizational, procedural, and technical capabilities for detecting and addressing cybersecurity events will be required for this. Also, providing security patches throughout the full vehicle life cycle will be essential for safe vehicle operation. Often, vehicles are driven for ten years or even longer, requiring regular updates over a very long period. Therefore, this makes them more akin to aircraft or vessels, which see software updates provided over longer periods.
A report predicts that the total addressable market for the cybersecurity of passenger vehicles will grow at a CAGR of 18.4% between 2020 and 2026. All of this is owing largely to the WP.29 regulation and OEMs in major economies competing to gain a competitive advantage. Therefore, vehicles with embedded connectivity will account for about 80% of connected vehicle sales by 2026, and hence OEMs will prioritize securing them first. Conclusion is that the market opportunity for automotive cybersecurity is progressive through the regulatory landscape and innovation across the automotive value chain propelling growth scenarios and minimizing vehicle security threats.
Group Futurista is glad to present to you the opportunity to learn more about Cyber Security for Automotive and the benefits it can entail for your business by joining the 'Future of Cyber Security for Automotive' virtual summit with revolutionary keynotes, case studies, and an amazing selection of industry-leading speakers who will come together to share their valuable insights.
You can grab your passes for free!
Topic We Cover
Industries
CXO, VP, Director, Head, Manager & Specialist of
This is an online event. You do not have to travel to any specific location. You can participate from your convenient location. The virtual event is accessible from a computer, mobile and tablet devices.
Your login details will be emailed to you ahead of the event. You can use those details to access the online event.
Absolutely. We are counting on you to invite others! Help us spread the word. You can simply share the link to this page, and they can register at their convenience.