LOS ANGELES, Jan. 28, 2020 (GLOBE NEWSWIRE) -- The global automotive endpoint authentication market is expected to reach the market value of around US$ 1.2 billion by 2026 and is anticipated to grow at a CAGR of around 15% in terms of revenue during the forecast period 2019 to 2026.
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Key trend behind market growth is the growing risks of cyber-attacks on linked vehicles carrying sensitive information. Autonomous vehicles need endpoint protection in order to avoid casualties resulting from cyber attacks on the network connected. The increase in the number of connected & wearable devices over the network also fuel the growth of the market for automotive endpoint authentication. Advances in vehicle infotainment systems also allow businesses to provide enhanced authentication systems to protect them against network threats. High price and possible loss of part of the company information could curb market growth.
Besides, strict regulatory requirements that compel car manufacturers to produce automobiles with enhanced safety and security technologies, using end-point authentication as a key technology, are significantly propelling the industry globally. In addition, the safety technology of automotive endpoints helps to curb robberies and vehicle damage consequently increase the market growth.
Moreover, government norms requirements in various parts of the world are an important driver of growth in the global automotive endpoint authentication industry. Global standards such as Federal Motor Vehicle Regulations, National Highway Traffic Safety Administration (NHTSA), and EU regulations are egging vehicle manufacturers to produce cars that have improved safety and security features.
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Regional Outlook
Europe represents a key automotive endpoint security market as demand for wired & autonomous vehicles is growing. The German government is taking major steps toward the introduction of wired automobiles. The City, for example, introduced the Action Plan for automated driving technologies in August 2017. The Ethics Commission issued recommendations for the introduction of automated driving systems at the Federal Ministry of Transport and Digital Infrastructure. This government initiative aimed to rapidly and efficiently implement automated driving in Germany.
Owing to smart city initiatives and increased demand for passenger vehicles in developing countries such as China and India, Asia Pacific is a lucrative market for automotive endpoint authentification industry. Increasing internet penetration in the region makes for the more widespread use of portable networks. These devices increase the chances of cyber threats to wired & autonomous cars, while leading to an increasing need for secure endpoint security solutions in the automotive sector. Another thing driving the development of the region's industry is the increase in vehicle safety issues due to rising vehicle theft events.
About the Market
End-point authentication is a form of protocol used to identify or validate an external source or remote networking system for a network. This only allows for the attachment of approved endpoint devices to different networks. Authentication mechanisms are enforced through the use of security systems, which recognize and grant access to the regular remote users in different network environments. End-point authentication helps to identify not only the user but also the connected computer that has been signed on to the network.
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Internet-connected vehicles or any other network are vulnerable to various cyber security threats, including ransomware, trojans, buffer overflow attacks and privilege escalation. Automotive endpoint authentication works by identifying the customer via biometric entry to cars or smart/connected apps to secure networked vehicles. Automotive endpoint authentication guarantees that registered network devices are linked to the vehicle network, thus preventing violation of vehicle data and driver-related sensitive data. Automotive edge protection helps to improve on-road safety in wired & autonomous vehicles by preventing suspicious vehicle behavior.
Key Players & Strategies
Top companies operating in the global market are Hitachi Ltd., Samsung Electronics Co. Ltd., Garmin Ltd., Continental AG, and Synaptics Incorporated, and others. The big automotive manufacturing companies are partnering with cyber security companies to provide the connected vehicles with enhanced endpoint authentication.
The business is monopolized by existing vendors who make it difficult for new participants in the market to gain a foothold. The costs involved in building production plants in this sector are also quite large and continue to discourage small and medium-sized businesses.
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