Growing cyber risks mounting concerns to the autonomous and electric car industry

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Autonomous & electric car industry looming under cyber threat



Autonomous driving, connected cars, electric vehicles, and shared mobility – have dominated the agenda of automotive industry leaders in recent years. These innovations, built on the digitization of in-car systems, the extension of car IT systems into the back end, and the propagation of software, turn modern cars into information clearing houses. Hacking of connected cars by security researchers has made headlines over the past few years, and concerns about the cybersecurity of modern vehicles have become real. In order to excel at cybersecurity, new processes, skills, and working practices along the automotive value chain will be required. This includes identifying cyber risks, designing secure software and hardware architectures, and developing and testing secure code and chips, ensuring that issues can be fixed – even years later – via software updates. The rising need for cybersecurity will trigger investments over the next few years.



As our cars get more connected, the risk of cybersecurity breaches increases on board. While the industry charged with combatting vehicle hackers is booming, it’s a constant battle to keep up with increasingly sophisticated technology. A new standard has just been published to help manufacturers get one step ahead. ISO/SAE 21434 will help consider cybersecurity issues at every stage of the development process and in the field, increasing the vehicle’s own cybersecurity defences and mitigating the risk of potential vulnerabilities for every component. We expect to see the market grow to $9.7 billion in 2030, with software business representing half of the market by 2030. The strong growth of the market will create many new business opportunities for suppliers, established IT firms, specialist niche firms, start-ups, and many others, especially in the software development and ser

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