Cybersecurity has emerged as a pivotal force in the automotive industry, with the latest patents revolutionizing security measures. Innovations range from integrating educational programs securely with electronic devices to enhancing wireless connectivity through multi-network playback devices. Additionally, automotive companies are actively investing in cybersecurity, resulting in a surge in strategic deals and increased hiring for cybersecurity-related roles, further emphasizing the industry’s commitment to enhancing security measures. The impact of cybersecurity extends beyond the automotive sector, influencing various industries. GlobalData’s Cybersecurity market report helps keep abreast of the latest trends in cybersecurity, market opportunity forecast and the competitive landscape. Buy the report here.
This article presents a quarterly round-up of the latest trends in the automotive industry regarding cybersecurity. It provides an overview of recent developments in cybersecurity-related deals, talent acquisition, and patent filings within the automotive industry.
Diverse applications of cybersecurity in automotive industry
Automotive companies are leveraging the latest patents in the field of cybersecurity to innovate and improve their businesses. These patents cover a range of technologies and applications that enhance cybersecurity measures. For example, one patent focuses on improving the coupling and cohesion of educational programs, ensuring that they are securely integrated with internet-enabled electronic devices. Another patent involves multi-network playback devices that securely connect to wireless local area networks and transmit network configuration parameters to other devices. Additionally, there is a patent for an intelligent data matching and validation system that utilizes Bayesian inference networks to analyze loan data and detect high correlation events. These patents provide the acquirer with valuable technologies and applications to enhance their cybersecurity measures and protect their systems and data from potential threats.
The industry experienced a 6% decline in the number of cybersecurity-related patent applications in Q2 2023 compared with the previous quarter. On an annual basis, the number of cybersecurity-related patent applications in the automotive industry witnessed a rise of 5% compared with Q2 2022.
Strategic deal trends in cybersecurity in automotive industry
Automotive companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in cybersecurity. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of cybersecurity in the automotive industry.
In Q2 2023, the number of cybersecurity-related deals in the automotive industry grew by 100% compared with Q2 2022. On a quarterly basis, there was 100% increase in the number of deals in Q2 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q2 2023, the automotive industry experienced a 12% growth compared with the previous quarter. On an annual basis, job postings also declined by 21%. Notably, Computer and Mathematical Occupations, with a share of 24%, emerged as the top cybersecurity-related job roles within the automotive industry in Q2 2023, with new job postings drop by 3% quarter-on-quarter. Management Occupations came in second with a share of 9% in Q2 2023, with new job postings rising by 0.68% over the previous quarter. The other prominent cybersecurity roles include Architecture and Engineering Occupations with a 9% share in Q2 2023, and Business and Financial Operations Occupations with a 4% share of new job postings.
Rivian Automotive, AB Volvo, Robert Bosch, Gestamp Automocion, and Magna International are among the top companies leading in cybersecurity hiring within the automotive industry.
Countries driving adoption of cybersecurity in automotive industry
The US is the leading country in cybersecurity adoption within the automotive industry, boasting the highest number of cybersecurity-related patents, jobs, and deals. Meanwhile, China, Israel, Russia and the UK also maintain significant positions in cybersecurity adoption within the automotive industry.
In summary, the automotive industry is witnessing a growing focus on cybersecurity, with an increase in patent applications and strategic deals. Job postings are showing mixed trends, while key players like Rivian Automotive, AB Volvo, Robert Bosch, Gestamp Automocion, and Magna International are actively hiring.
To further understand GlobalData's analysis on cybersecurity in the automotive industry, buy the report here.