VICONERECEIVES THE 2023
       Best Practices Criteria for World-Class Performance
Frost & Sullivan applies a rigorous analytical process to evaluate multiple nominees for each award
category before determining the final award recipient. The process involves a detailed evaluation of bestpractices criteria across two dimensions for each nominated company. VicOne excels in many of thecriteria in the automotive cybersecurity space.

Industry Challenges
Integration of advanced technologies is giving rise to vehicles with increased connectivity and autonomy,
including onboard systems, vehicle software, and third-party applications. However, the interconnectivityof modern vehicles poses new cybersecurity concerns due to the expanded attack surface. The
introduction of more digital features and use of software to control automobiles put users’ physical safety
and personal information at risk. As a result, the automotive industry has become a prime target forcybercriminals.
Rising supply chain attacks can severely impact automotive supply chains and manufacturers. In February2022, Japanese multinational OEM Toyota shut down its Japanese plants after a severe cyberattack at asupplier. The incident affected 28 production lines across 14 plants in Japan, leading to a 5% drop in
Toyota’s monthly production or output of about 13,000 vehicles.
There is a pressing need for automotive industry stakeholders to impose robust cybersecurity measures
to prevent unauthorized remote access to vehicle networks that enable criminals to steal car users’
personal data and compromise vehicles’ critical safety systems. Cybersecurity is no longer anafterthought, but necessary to ensure vehicle safety and reliability.

Strategy EffectivenessFounded in 2022, VicOne, a Trend Micro subsidiary, possesses a solid cybersecurity foundation, leveraging
its parent company’s more than 30 years of experience in the cybersecurity industry. By tapping into Trend© Frost & Sullivan 2023

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Micro’s industry expertise, VicOne delivers unparalleled automotive protection and deep security insights,
allowing customers to build more secure and smarter vehicles. VicOne capitalizes on Trend Micro’s global
threat intelligence and automotive expertise to introduce automotive attack mapping capabilities inspiredby MITRE ATT&CK®. By highlighting the tactics and techniques of attackers to target connected cars,VicOne positions itself as a trusted partner to help car manufacturers gain a clear perspective of the attack
flow, evaluate the effectiveness of their cybersecurity investments, and implement necessary remediation
or improvement plans. VicOne stands out from the“VicOne’s Smart Cockpit Protection
competition as it is one of few automotive security
provides multi-layered cybersecurity
companies with automotive attack mapping capabilities
features to protect IVI systems andthat reveal the life cycle of a cyberattack targeting
applications. The solutions reflect
connected cars, strengthening its reputation as a reliable
VicOne’s vision of securing the vehicles
partner for automotive OEMs.
of tomorrow and aligning its productroadmap with ongoing technology
strategies of automotive stakeholders,enabling the company to stay ahead.”

Cybersecurity risks on modern vehicles will escalate as
vehicle attack surfaces expand from the rising digitizationand internet connectivity. Recognizing this risk, VicOnecontinues expanding its product portfolio to support‒ Vivien Pua
automotive stakeholders’ evolving cybersecurity
Senior Industry Analyst
demands. For example, VicOne introduced Smart Cockpit
Protection solutions in January 2023, acknowledging that smart cockpits will become the next frontier for
automotive manufacturers. As the industry moves toward adding more functions and connecting
applications to vehicles through in-vehicle infotainment (IVI) systems for a personalized user experience,the company foresees that hackers will exploit these systems as an entry point to launch attacks. This
could have devastating consequences on autonomous vehicles as attackers will have access to control thesystems and disrupt operations. VicOne’s Smart Cockpit Protection provides multi-layered cybersecurity
features to protect IVI systems and applications. The solutions reflect VicOne’s vision of securing thevehicles of tomorrow and aligning its product roadmap with ongoing technology strategies of automotive
stakeholders, enabling the company to stay ahead.

Strategy Execution and Competitive Differentiation
VicOne actively engages with J-Auto-ISAC (Japan Automotive Information Sharing and Analysis Center) tostay informed of the latest automotive industry trends and maintain its competitiveness. Its strategic
participation in J-Auto-SAC enables VicOne to collaborate with other automotive supply chain
stakeholders to co-create automotive solutions with embedded security and align its go-to-market
strategy with Japan’s automotive industry requirements.
It is involved in industry ventures such as the Mobility in Harmony (MIH) Consortium and has partnerships
with Tier 1 automotive suppliers, including Panasonic Automotive Systems, Hitachi Astemo, TIER IV, andNXP Semiconductors. For example, the company’s collaboration with Panasonic Automotive focuses onco-creating solutions to tackle software vulnerabilities in modern electronic control units. Both companies
jointly developed a robust security system for the virtualization platform that enables VicOne solutions tomonitor communication data on this platform and protect modern cockpit systems and software-definedvehicles (SDVs) from cyberattacks targeting software or application vulnerabilities. Frost & Sullivan© Frost & Sullivan 2023

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attributes VicOne’s rapid expansion in the Japanese automotive market to its efforts in continuously
driving innovation to identify and resolve industry pain points. Despite being a recent industry entrant
and a newly founded subsidiary under Trend Micro, VicOne demonstrates tremendous potential in forging
strategic alliances and collaborative projects in the automotive cybersecurity industry.
The company benefits from Trend Micro’s strong brand reputation in Japan, which gives it a significant
advantage over other local players. As eight of the top 10 automotive companies use Trend Micro’s
cybersecurity solutions, VicOne can tap into this critical customer base to co-create automotive solutions
for a better, more secure automotive environment.

Price/Performance Value and Customer Ownership Experience
As automotive cybersecurity is an emerging market, stakeholders need a reliable cybersecurity partnerthat can help them implement, embed, and integrate automotive cybersecurity into their solutions.
VicOne’s modular automotive cybersecurity solutions enable customers to purchase what they need ateach stage without sacrificing their existing cybersecurity infrastructure. Customers can choose solutions
according to the complexity of their system and cybersecurity maturity level instead of buying a complete
system from the start.
VicOne’s pricing is flexible to suit customers’ size, system complexity, cybersecurity maturity, and numberof vehicles required for monitoring. Backed by an adept understanding of industry requirements, VicOne
can deliver customized solutions and services that best align with customer needs. The modular design of
its offerings and third-party integration support allow customers to purchase the required productaccording to their current needs without compromising their existing cybersecurity investment. For
instance, if a customer has security information and event management (SIEM) in its system, it can opt tobuy only VicOne’s analysis engine instead of the entire vehicle security operations center platform. In thisscenario, customers can provide output to third-party“Despite being a recent industry
systems or receive external output by integrating withentrant and a newly founded
VicOne’s solutions. The flexibility of its offerings enables thesubsidiary under Trend Micro, VicOne
company to secure a growing number of automotive
demonstrates tremendous potential
customers.
in forging strategic alliances andcollaborative projects in theautomotive cybersecurity industry.”

Customers trust the accuracy and reliability of VicOne’s
intensive threat assessment capabilities, supported by its
parent company’s deep expertise in threat intelligence,‒ Vivien Pua
more than 450 professional threat researchers and data
Senior Industry Analyst
scientists from 100 countries, to collect global vulnerabilities
24/7. The company’s close collaboration with government and law enforcement agencies, includingInterpol, the United Nations, the Federal Bureau of Investigation, and the United States Department ofHomeland Security, strengthens its ability to obtain real-time threat feeds and enhance its detection
accuracy. VicOne’s solutions demonstrate this robust threat intelligence capability and vulnerability
discover capability with a stellar track record of successfully blocking over 9.4 billion threats in 2021 withTrend Micro, cementing its reputation as a formidable force in Japan’s automotive cybersecurity industry.

© Frost & Sullivan 2023

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Brand Equity
VicOne is building brand equity through differentiated automotive cybersecurity offerings. For example,VicOne is now collaborating with Hitachi Astemo, a leading mobility solutions provider, to embed invehicle security solutions that detect and mitigate cyberattacks targeting connected cars.
Under the joint development with Hitachi Astemo, which began in October 2021, VicOne willcommercialize the cybersecurity solution to secure IVI systems in connected cars from vulnerability
exploitation. Frost & Sullivan applauds VicOne’s relentless focus on forging relationships with new andexisting customers to bolster its reputation and branding in Japan’s automotive cybersecurity market.

Conclusion
VicOne stands out in the Japanese automotive cybersecurity industry because of its in-depth expertise,robust product expansion efforts, strategic partnerships, flexible pricing approach, and highly skilledthreat intelligence and customer support teams. This winning combination has enabled the company toachieve a competitive edge and strengthen its brand positioning in the automotive cybersecurity market.
With its strong overall performance, VicOne earns Frost & Sullivan’s 2023 Competitive Strategy LeadershipAward in the Japanese automotive cybersecurity industry.

© Frost & Sullivan 2023

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What You Need to Know about the Competitive Strategy LeadershipRecognition
Frost & Sullivan’s Competitive Strategy Leadership Award recognizes the company with a stand-out
approach to achieving top-line growth and a superior customer experience.

Best Practices Award Analysis
For the Competitive Strategy Leadership Award, Frost & Sullivan analysts independently evaluated thecriteria listed below.

Strategy Innovation

Customer Impact

Strategy Effectiveness: Effective strategy
balances short-term performance needs withlong-term aspirations and overall company
visionPrice/Performance Value: Products or services
provide the best value for the price comparedto similar market offerings

Strategy Execution: Company strategy utilizes
Best Practices to support consistent andefficient processes
Competitive Differentiation: Solutions or
products articulate and display uniquecompetitive advantages
Executive Team Alignment: Executive teamfocuses on staying ahead of key competitors via
a unified execution of its organization’s mission,
vision, and strategy
Stakeholder Integration: Company strategy
reflects the needs or circumstances of allindustry stakeholders, including competitors,customers, investors, and employees© Frost & Sullivan 2023

Customer Purchase Experience: Quality of thepurchase experience assures customers thatthey are buying the optimal solution foraddressing their unique needs and constraints
Customer Ownership Experience: Customers
proudly own the company’s product or service
and have a positive experience throughout thelife of the product or service
Customer Service Experience: Customer service
is accessible, fast, stress-free, and high quality
Brand Equity: Customers perceive the brandpositively and exhibit high brand loyalty

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