The ‘Global Embedded Security Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global embedded security market, assessing the market on the basis of its segments like type, application, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Embedded Security Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6%
The hardware sector of the global embedded security market is developing security chips and microcontrollers which can be embedded for the purpose of data storing and transmission. Owing to the emergence of advanced technologies like 5G networks and IoT, there has been a surging demand for embedded security systems, which is likely to grow in the coming years. With the growing IoT deployment in workplaces, the large volumes of data created by it is highly exposed to the risk of hacking along with brand devaluation and defamation, which in turns increases the demand for embedded security systems.
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The use of embedded security systems in light detection and ranging (LIDAR), in line with the increasing road safety concerns and the need for traffic rules enforcement has become quite prominent. In automotives, core functions like power steering, anti-lock brakes and air bags are majorly assisted using embedded security subsystems. With rapidly advancing technology and IoT, more complex models are being used for navigation like drones that are in turn, simplifying day-to-day activities on a global level. In order to prevent these complex devices from software manipulation and illegal access, the demand for embedded security solutions is expected to rise which will in turn, bolster the embedded security market in the foreseen period.
Embedded Security Market Segmentation
Embedded security is designed to protect the software and hardware components of devices and can be commonly seen in end uses such as aircrafts, consumer electronics and automotives. Apart from being an extremely reliable security system, it is highly versatile and also allows integration with third-party security management systems.
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On the basis of type, the market is segmented into:
• Hardware
• Software
• Service
Based on application, the market is classified into:
• Payment
• Authentication
• Content Protection
• Others
On the basis of end use, the market is differentiated into:
• Automotive
• Healthcare
• Consumer electronics
• Telecommunications
• Aerospace and Defence
• Others
Based on regions, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Embedded Security Market Trends
With the heightened deployment of smart wearables, there has been a rapid increase in the use of embedded security systems since some of the features like payments, require user authorisation. In order to rule out any data loss or cyber-attacks, the use of embedded security system has expanded in the healthcare, industrial automation, and smart-home units as well. IoT devices require high-security systems owing to the increasing focus on the component aspect of security which in turn, boosts the growth of the global embedded security market.
Owing to the growing use of online payments and apps like Apple Pay and PayPal, the need for strong payment security system arises, which in turn elevates the demand for embedded security systems. A sizeable population all over the world has switched to remote-working, compelling organisations to adopt strong cybersecurity software.
The growing sphere of social media and content creation activities give rise to the need for content protection, fuelling to the demand for embedded security systems and leading to the expansion of the embedded security market. A potential sector for the growth of the embedded securities is the electronic vehicles market, where multiple automated systems and IoT integrations are being witnessed, increasing the need for embedded security to prevent unauthorised remote access.
Key Market Players
The major players in the global embedded security market report are
• NXP Semiconductors NV
• Infineon Technologies AG
• Microchip Technology Inc.
• STMicroelectronics
• Thales Group
• Samsung Electronics Co., Ltd.
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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