Unmasking the Most Menacing Cyber Threats in the Automotive Industry

In recent years, the rise of connected vehicles has brought numerous benefits for drivers. From enhanced infotainment systems to advanced safety features, the modern automotive and mobility industry is developing more advanced and connected vehicles than ever before. However, this increased connectivity also brings new security challenges that threaten the safety and privacy of drivers.?

Cyber-attacks impact automotive OEMs financially, prompting them to develop in-house cybersecurity solutions. Providers are investing in advanced solutions to counter cyber threats. With growing OEM concerns, the market is poised for substantial growth in the forecast period 2022-2031. ?

The automotive cybersecurity market is in its early stages, propelled by advancements in connected vehicles and the proliferation of electronic control units (ECUs) in electric cars. Partnerships between cybersecurity solution providers and industry stakeholders are expanding global reach. ?

The market is driven by the rise of ECUs, increasing cyber-attacks, and the adoption of connected and autonomous vehicles. ?

?

Analysis of Prominent Automotive Cybersecurity Threats?

The automotive sector is implementing cybersecurity best practices created by businesses creating their cybersecurity solutions or cooperating with other automotive cybersecurity solution provider businesses to address these issues.?

With the increasing use of electronics per vehicle, the growing number of connected vehicles, rising cyber threats owing to the data and connectivity of vehicles, and rising sales of electric vehicles, the automotive cybersecurity market is expected to grow significantly.?

According to the BIS Research analysis, the automotive cybersecurity market was valued at $2.76 billion in 2022, and it is expected to grow at a CAGR of 22.97% and reach $17.73 billion by 2031.??

Find more details on this report in this FREE sample?

??

A few of the prominent automotive cybersecurity threats are discussed below:?

1.??? Brute Force Attack: ?

In the American automotive industry, brute force attacks are the most frequent assault. In this attack, hackers target a computer network and get access to a sizable database of users and passwords. The criminals then try using credential-stuffing combinations to access a vehicle's computer network. Brute force assaults, contrary to phishing and fooling users into divulging personal information, require hackers to enter a system to acquire physical access. The American motor industry is most frequently attacked with raw force.?

These attacks leverage password stuffing or exploit well-known system faults to obtain access. Modern central processing units (CPUs), machine learning, and graphics cards that can run attacks at lightning speeds are increasing the complexity of brute force attacks. These kinds of breaches give thieves access to a variety of car systems.?

??

2.??? Phishing Attacks: ?

All digital systems are constantly at risk from phishing attempts. Phishing uses social engineering, as opposed to brute-force hacking, to persuade people to click on emails, links, and other messages that could be used to access login information or start malware. Hackers can access many systems in the auto industry if their phishing attempts are successful. The ideal phishing assault may corrupt even the control computer for driverless vehicles. Given the nature of phishing attempts, the only way to prevent them is to properly educate people on how to spot them and discourage them from readily revealing personal information.?

For instance, the report "Automotive Cybersecurity Market ," published by BIS Research Inc., demonstrates how hackers utilize Google advertising to trick people into visiting phishing websites to steal money.?

??

3.??? Ransomware Attacks: ?

Automotive OEMs still face serious dangers from ransomware assaults on their IT systems, even if the operational technology side of automobiles is drawing attention to potential security flaws. Such attacks can potentially interfere with business operations and, in some situations, increase the price of delays in the production of vehicles. Hackers are increasingly using ransomware to raise their income. Ransomware locks down systems until a ransom is paid, unlike other attacks that try retrieving and selling data on the dark web.?

The loss of service is one of ransomware's most severe effects. Threat actors who use ransomware are quickly embracing more advanced techniques to put the whole industrial sector, particularly the auto industry, in peril. Cybersecurity should be a top priority if automakers want to overcome sales obstacles. A Japanese manufacturer, Honda, experienced a ransomware attack in 2020 that suspended its global operations, including production, sales, and development.?

??

4.??? Telematics Cybersecurity: ?

Telematics systems are often not the objective when breaking into modern cars. However, they represent a single point of failure for getting access to a whole fleet, making them a fragile point for remote assault in modern cars. Data collection or tampering with, altering, and even seriously harming vehicle functionality are the main goals of attackers who target telematics equipment.?

To make sure that telematics devices for the federal fleet adhere to industry standards for cybersecurity, agencies can refer to the NIST 800 series, the "Telematics Cybersecurity Primer for Federal Agencies," Geotab's System Security Plan, and the expertise of other organizations like the Department of Homeland Security (DHS) and Navy. These standards enable best practices for procurement and can also be used to detect mistakes that evade detection.?

??

5.??? Keyless Car Theft: ?

Previously primarily available to owners of high-end automobiles, wireless key fobs that enable keyless entry are now offered in various vehicle types and price ranges. Keyless entry security continues to be threatened by man-in-the-middle attacks, which eavesdrop on wireless communication between the key fob and the car. Criminals can use specialized technology to pick up signals from wireless keys to intercept and redistribute communications sent between key fobs and autos.?

These relayed messages evade authentication by tricking the two components (the key fob and the vehicle) into thinking they are close to one another. Once the car's door is opened, the thieves can leave with their getaway vehicle. Four days after a Detroit woman paid $90,000 for a Dodge Charger, robbers used a relay assault to break into the vehicle in October 2021 and drive off with it.?

??

?

Conclusion?

As the automotive industry continues to embrace the latest technologies, it is important for drivers to stay informed about the latest automotive cybersecurity threats and to take appropriate measures to protect themselves and their vehicles. From hacking and theft to malware and data breaches, these are the top five automotive cybersecurity threats drivers must be aware of and guard against. By being informed and taking proactive steps to secure their vehicles, drivers can help to ensure the safety and privacy of their cars and their personal information.?

??

Interested to know more about the growing technologies in your industry vertical? Get the latest market studies and insights from BIS Research. Connect with us at? [email protected] to learn and understand more.?