The connected vehicle market is estimated to grow 270% by 2022, accelerated by the arrival of 5G and the penetration of connected cars in major European cities. This, coupled with the fact that 96% of new vehicles shipped globally will have built-in connectivity by 2030, has the automotive sector primed for a rebound.

“The way we select and purchase a car is changing. Traditionally driven by aesthetics and performance, consumers are increasingly being influenced by entertainment and in-vehicle services, safety and security features,” Andrew Till, General Manager, Automotive at Trustonic writes in Automotive World.

With new innovation, comes security concerns. More focus is being placed on mobile app-based digital car keys, which offer the ability to open, start and even summon one’s car using a smart phone. Security concerns center around hackers’ ability to penetrate vehicle systems through the new digital car key systems.

“While there are robust standards for the Digital Car Key experience, other mobile-to-vehicle experiences are not covered by formal cyber security requirements,” Till writes. “This can be confusing for consumers, who will not be aware that one experience is protected while another is not.”

Another security concern is in-vehicle payment systems, which “may lead to vehicles storing highly sensitive information such as payment system username and passwords or even credit card credentials,” Till continues. “Making sure personal data and financial information remains fully secure must be a priority.”

Vehicle manufacturers need to balance the need to offer new features with the risk of being vulnerable to hackers. “As companies create new partnerships, deliver new services, and establish new revenue streams they must have robust cyber security built into the foundations of their platforms,” Till implores.