Automotive Cybersecurity Threats to Double in 2024, Upstream Report Reveals

Automotive Cybersecurity Threats to Double in 2024, Upstream Report Reveals

Upstream Security, a leading provider of cybersecurity solutions for the automotive industry, has released its 2024 Global Automotive Cybersecurity Report, which predicts a significant increase in cyberattacks targeting connected vehicles and mobility services. The report is based on an analysis of nearly 1500 automotive cyber incidents over the past decade, 295 of which occurred in 2023 alone.

According to the report, the number of high and massive-scale incidents, which could potentially impact thousands to millions of mobility assets, increased by 2.5 times in 2023 compared to 2022. The report also found that 95% of the attacks were executed remotely, and 85% of them were long-range, meaning that the attackers did not need physical access to the vehicles or devices.

The report also revealed that 64% of the attacks were performed by black hat actors, who have malicious intentions and seek financial gain, fame, or political agenda. The report also identified the main areas of interest for the attackers, such as telematic and application servers, infotainment systems, APIs, and keyless entry systems.

The report also warned that the attackers are using advanced techniques, such as generative AI (GenAI), to create realistic and convincing phishing messages, voice calls, and images, to trick the users and bypass the security measures. The report also noted that the attackers are collaborating and sharing information on the deep and dark web, where the activities related to the automotive and smart mobility ecosystem increased by 165% in 2023.

Cyberattacks to Have Significant Financial and Operational Impact

The report also estimated the financial and operational impact of the cyberattacks on the automotive industry and its stakeholders. The report calculated that the average cost of a cyberattack on a single vehicle is $1,662, which includes the direct costs of repairing or replacing the vehicle, as well as the indirect costs of lost revenue, reputation damage, legal fees, and regulatory fines.

The report also projected that the total cost of cyberattacks on the automotive industry will reach $24 billion by 2024, up from $11 billion in 2023. The report also highlighted the potential impact of cyberattacks on the safety and privacy of the drivers, passengers, and pedestrians, as well as the environmental and social consequences of compromised vehicles.

The report also emphasized the need for proactive and comprehensive cybersecurity solutions, that can protect the entire smart mobility ecosystem, from the vehicles and devices, to the networks and cloud platforms, to the users and operators. The report also recommended the adoption of best practices and standards, such as the ISO/SAE 21434 and the WP.29 regulations, to ensure the security and resilience of the automotive industry.

Upstream Security Offers Cutting-Edge Cybersecurity Solutions

Upstream Security is a global leader in cybersecurity solutions for the automotive industry, offering a cloud-based platform that can detect and respond to cyber threats in real-time, across the entire smart mobility ecosystem. The platform leverages advanced technologies, such as big data, machine learning, and behavioral analytics, to provide visibility, protection, and intelligence for the connected vehicles and mobility services.

Upstream Security also offers innovative solutions and platforms, such as the Tata Technologies Integrated e-Mobility Solution (TiEMS), which is a comprehensive and modular solution for electric vehicle development and deployment. TiEMS has been deployed for several projects across the globe, and has received positive feedback from the clients and partners.

Upstream Security is also committed to innovation and transformation, as it aims to become a trusted partner for its clients in the engineering and digital domains. The company is investing in new technologies, capabilities, and talent, to enhance its value proposition and differentiation in the market. The company is also transforming its culture and processes, to become more agile, collaborative, and customer-centric.