Embedded Security Market by Product (Secure Element and Embedded SIM, Trusted Platform Module, Hardware Security Module, Hardware Tokens); Security Type (Authentication and Access Management, Payment, Content Protection); Application (Wearables, Smartphones and Tablets, Automotive, Smart Identity Cards, Industrial, Payment Processing and Cards, Computers): Global Market Size Estimates and Forecast (2022-2030)
The Embedded Security market crossed US$ 6.5 billion mark in 2022 and is expected to hit US$ 10.5 billion by 2030, recording a CAGR of 6.1% during the forecast period.
Embedded Security market has been significantly growing with the emergence of embedded security in EVs
Many innovations in the automobiles sector are currently dependent on software and electronics, and IT is likely to contribute to a huge percentage of the manufacture cost. The electric vehicle market is expanding quickly because it offers advantages over other types of automobiles. However, from the charging infrastructure standpoint, EV charging is significantly further than a one-step plug-and-go procedure. To ensure that EV on the grid accepts the essential energy and electrical flow, a significant amount of communication must occur between the car, the charging point, and the utility provider.
Within the report, the Embedded Security market is segmented into offerings, type, end use industry, business function. Based on offerings, the Embedded Security market is segmented into solution, services. Based on type, the Embedded Security market is segmented into on-premises, cloud. Based on end use industry, the Embedded Security market is segmented IT and telecom, BFSI, healthcare and pharmaceutical, manufacturing, government, others. Based on business function, the Embedded Security market is segmented into human resource (HR), sales and marketing, information technology, others. Geographically, the Embedded Security market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The Embedded Security market in Asia Pacific holds the highest growth rate and is expected to retain its position during the forecast period (2022-2030). The high growth is due to the presence of most populous countries such as China and India in the region.
Automotive segment in application to hold significant growth of Embedded Security market during the forecast period (2022-2030)
Based on application, the automotive segment is estimated to account for a significant Embedded Security market growth during the forecast period. The automotive industry is a pioneer in implementing new technologies. The automobile industry is immensely reliant on software and electronics. the sale of connected cars in progress and the focus on self-driving technologies, security is essential in-vehicle car access systems, sensors, secure gateways, powertrains, and chassis. With the safety threats rising, cutting-edge security software is needed in vehicles for the latter's defense from illegal access to systems, thus improving the development prospects for the embedded security market in the upcoming years.
Addition of payments functionality in wearables watches is one of the major factors accelerating the Embedded Security market growth.
Wearable technology is growing and emerging, with everything from clothing to smart glasses to jewelry to virtual reality (VR) tools is being a part of wearable technology. Smart wearable technology is employed in various applications, including fitness tracking, navigation, and health monitoring. Several apps, such as payments and smart home control, require user authorization to avoid misuse. Embedded security solution companies are launching new embedded security solutions to meet wearable market demand.
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Recent strategic developments in Embedded Security market
The Embedded Security market has undergone several significant developments, and a few of these have been mentioned below:
- In January 2022, Thales Group has delivered SafeNet MobilePASS+ 2.2, a mobile authenticator for windows and android. With a single swipe, support push authentication requests and produce secure one-time passcodes.
- In May 2021, Microchip has launched a Trust Platform Design Suite (TPDS), a software platform for device configuration and onboarding to secure provisioning services.
The Embedded Security market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Infineon Technologies AG, STMicroelectronics, NXP Semiconductors, Gemalto, Texas Instruments, Renesas, Qualcomm, Microchip, Samsung, and IDEMIA are among the prominent players operating in the Embedded Security market.
Target audience for the report:
- Embedded Security software providers
- Embedded Security service providers
- Embedded Security associations, organizations, forums, and alliances
- Venture capitalists, private equity firms, and start-up companies
- End users of Embedded Security
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the Embedded Security market has been segmented on the basis of:
- Product
- Secure Element and Embedded SIM
- Trusted Platform Module
- Hardware Security Module
- Hardware Tokens
- Security Type
- Authentication and Access Management
- Payment
- Content Protection
- Application
- Wearables
- Smartphones and Tablets
- Automotive
- Smart Identity Cards
- Industrial
- Payment Processing and Cards
- Computers
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Infineon Technologies AG
- STMicroelectronics
- NXP Semiconductors
- Gemalto
- Texas Instruments
- Renesas
- Qualcomm
- Microchip
- Samsung
- IDEMIA
Companies profiled
- Infineon Technologies AG
- STMicroelectronics
- NXP Semiconductors
- Gemalto
- Texas Instruments
- Renesas
- Qualcomm
- Microchip
- Samsung
- IDEMIA