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Fighting Car Hacking Growing into Big Business

New IHS study predicts revenues will push $750 million annually by 2023.

by on Sep.30, 2016

While connected cars offer plenty of conveniences, they're also targets for cyber attacks.

After being ignored for years, the cybersecurity of automobiles has become a major concern for carmakers and is now expected to grow quickly into a $759 million industry by 2023, according to a new study by IHS Automotive.

The IHS study noted one result of connected car growth – there are estimated 112 million connected vehicles on the road now – is that cars and trucks are now more susceptible to cyberattacks through the many wireless and wired connections.

Tech News!

Hackers are getting more savvy in perpetrating cyberattacks – more easily and cost effectively – on connected vehicles, IHS concluded, noting that carmakers have increased their efforts to make systems more secure. (more…)