Cybersecurity in Automotive – Thematic Intelligence
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This report explains the Cybersecurity landscape across the automotive sector. It includes case studies, alternative datasets, value chains, sector scorecards, and an impact assessment. This report is useful to those wishing to understand how cybersecurity can be used across enterprise and consumer uses.
We are entering the Code War era, where every digital device, no matter how small, can be weaponized through its unique code. Cybersecurity in vehicles has to be extensive, defending both the frontend and backend of vehicle systems and all the infrastructure upon which connected cars rely. Original equipment manufacturers (OEMs) have to deal with human ingenuity that goes far beyond known threats. The enormous cost of infrastructure and resources needed to engineer and test cybersecurity for vehicles puts many OEMs on the back foot. According to McKinsey, a car created in 2022 had roughly 150 electronic control units and 100 million lines of code, which supports features like Bluetooth, GPS, Wi-Fi, keyless systems, cruise control, and more. The importance of comprehensive cybersecurity in automotive cannot be overstated.
Scope
This report is a thematic analysis of the cybersecurity in the automotive sector: It covers OEMs and specialist vendors in automotive. It also covers cybersecurity as a whole, providing value chains and forecasts, as well as company details.
Whilst most investment research is underpinned by backwards looking company valuation models, GlobalData’s thematic methodology identifies which companies are best placed to succeed in a future filled with multiple disruptive threats
Key Highlights
- The cybersecurity vulnerabilities specific to the auto industry are numerous. Hackers could compromise the safety and advanced driver assistance systems (ADAS) of a vehicle in use or, worse, manipulate any autonomous functionality to directly cause a crash. Bad actors could also access vehicle occupants’ private information such as current location, previous GPS destinations, or smartphone contacts. As automakers increasingly rely on over-the-air (OTA) updates to remotely add or upgrade vehicle features, cybersecurity efforts will be needed to ensure these methods are insulated from threat actors.
- At a higher level, automotive companies are also at risk of industrial cybercrime, such as the theft of valuable tech secrets or damage to their digital infrastructure. Insurance firm Munich Re expects global cybercrime damage across all industries to reach $10.5 trillion by 2025 compared to $6 trillion in 2021. The risk of cybercrime in the automotive industry continues to grow as vehicles become more connected and introduce more digital functions. Cybercrime already poses a significant threat to automotive players, with the well-known case of the Landwind X7 copying the design of the Range Rover Evoque being a prime example.
- Ransomware attacks impacted Honda, Volkswagen (VW), Peugeot, and Kia across 2020 and 2021, with other OEMs suffering data breaches. Many of the largest OEMs are still woefully unprepared, as demonstrated by a 2021 CyberAware survey of the 14 OEMs responsible for $1.1 trillion in car industry revenue annually. CyberAware identified over 800,000 unprotected documents hosted on exposed servers, clouds, and databases, with 215,000 employees having exposed or compromised credentials. The exposed information included commercial details, email exchanges, contracts, invoices, and technical data.
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