Global Embedded Security Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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Global Embedded Security Market: Overview
“The global Embedded Security Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Embedded security provides protection to the software that is running on embedded system, from security threats.
High adoption of embedded security systems in smartphones, laptops, tablets, etc., couple with increasing security threats are major factors driving growth of the global embedded security market.
In addition, rising trend of wearables among individuals is another factor fueling growth of the global market. Government initiatives to promote digitalization for ease of financial transactions, improve efficiency and productivity, e-governance, etc. is a factor supporting growth of the target market.
Furthermore, growing applications of Internet of things in IoT security systems is a factor expected to propel growth of the global embedded security market in the near future.
Global Embedded Security Market: Dynamics
However, lack of awareness regarding advantages of embedded security is a factor that may hamper growth of the global embedded security market. In addition, low budget allocations for security applications in various countries is a challenging factor that could affect growth of the global market.
Nevertheless, growing demand for embedded security systems in industrial internet of things applications and growing industrial sector in developing countries can create high revenue opportunities for key players in the target market.
Global Embedded Security Market: Segment Analysis
Among the product type segments, the secure element and embedded SIM segment is expected to dominate the global market in terms of revenue in the near future. High use of embedded SIM in payment cards, government documents, identification cards, licenses, as well as smart devices such as tablets and smartphones is a factor fueling growth of this segment in the global market.
Among the application segments, the payment processing and cards segment is expected to register high growth in terms of revenue over the forecast period. Payment processing and cards include EVM cards that stands for Europay, Mastercard, and Visa. Increasing use of EVM cards for transactions as they help to prevent counterfeiting is a factor supporting growth of this segment in the global market.
Global Embedded Security Market: Regional Analysis
Market in North America is expected to register high growth in terms of revenue over the forecast period. Increasing adoption of embedded security for protection of sensitive data is a key factor driving growth of the target market in this region. In addition, government initiatives for usage of security systems as well as budget allocation for adoption of security policies for protection of critical infrastructure are also factors supporting growth of the target market, especially in US and Canada in this region.
Market in Asia Pacific accounts for significant share in terms of revenue and is expected to maintain its dominance in the near future. Increasing manufacturing of smartphones and growing automotive manufacturing industries, especially in China are factors propelling growth of the embedded security market in Asia Pacific.
Global Embedded Security Market Segmentation:
Segmentation by Product Type:
- Hardware Security Module
- Secure Element and Embedded SIM
- Hardware Tokens
- Trusted Platform Module
Segmentation by Security Type:
- Content Protection
- Authentication and Access Management
Segmentation by Application:
- Smart Identity Cards
- Smartphones and Tablets
- Payment Processing and Cards
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- STMicroelectronics N.V.
- Infineon Technologies AG
- Gemalto N.V.
- NXP Semiconductors NV
- Texas Instruments Incorporated
- QUALCOMM Incorporated
- IDEMIA France SAS
- Renesas Electronics Corporation
- Samsung Electronics Co., Ltd.
- Microchip Technology Inc.
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