Farmington, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The Global Embedded Security Market Size Was Valued At USD 8.04 Billion In 2021. The Market Is Projected To Grow From USD 8.23 Billion In 2022 To USD 17.03 Billion By 2030, Exhibiting A CAGR Of 10.9% During The Forecast Period. The global COVID-19 pandemic has been unprecedented and shocking, and the demand for embedded security is lower than expected in all regions compared to levels before the pandemic. Our research shows that the global market fell by 9.2% between 2019 and 2020.
Embedded security is a strategic way to protect software that runs on systems that are built-in. It is a piece of hardware that helps software do its job. This is how the systems are set up so that they can do certain security tasks. It is mostly used in process control units, aeroplanes, consumer electronics, hybrid cars, and other appliances. It is a very trustworthy system that can handle any kind of security system uncertainty. The firmware inside the security system is hard to change or update. Most systems are made to last longer than 15 years, though. As the Internet of Things (IoT) and industrial automation become more popular, the capabilities of embedded platform security systems are changing. This is because the number of cyberattacks is growing quickly. As the number of connected devices grows, security built into devices has become more important.
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Recent Developments:
- May 2022 - STMicroelectronics, which provides embedded and cyber security services and a range of semiconductor products for the automotive and aerospace sectors, has partnered with Microsoft Corporation. The partnership integrates Microsoft Azure RTOS and IoT middleware with ST's ultra-low-power STM32U5 microcontrollers (MCUs) and provides a reliable platform module for securing embedded architectures in IoT systems.
- May 2022 – Advantech, a provider of automation and Internet of Things (IoT) technology, launches the UNO embedded automation computer platform. This newly released platform comes pre-installed with Canonical's Ubuntu Operating System (OS) with enhanced security and edge features for IoT systems.
Segment Overview
Component Insights:
Because the automotive industry is using more and more advanced security technology for connected devices, the hardware segment had the most sales and revenue in 2021, and this trend is likely to continue for the rest of the forecast period. This is because aerospace, defence, and services are using more and more connected and embedded devices, which gives them the best growth prospects with the highest CAGR over the forecast period.
Application Insights:
In 2021, the most money was made in the payment segment. This is because more and more people want banking and finance systems to have safe ways to make payments. More money is being sent online through cell phones in developing countries like India. As more people pay for things online, there will probably be a higher demand for secure online payments. The next part will be about authentication. During the time frame predicted, this will keep happening. The segment with the highest CAGR over the next five years will be content protection. This is because digital marketing is using social media and online content creation more and more.
End-user Insights:
As of 2021, the aerospace and defence segment led the market. This is because this security technology has many uses in aerospace and defence security processes. Embedded device security systems are used by many aerospace and defence companies to protect and secure the hardware in defence equipment. The global market is driven by this. The automotive segment is expected to follow the same path as the aerospace and defence segment, which will help it reach the highest CAGR over the next few years. Also, the consumer electronics and telecommunications segment makes a lot of money because it uses a lot of authentication devices. This makes it a good place to make money on the global market. But the healthcare segment is expected to grow slowly over the next few years.
Regional Outlook:
The Asia-Pacific market was worth $4.35 billion USD in 2021, and since it is the biggest market in the world, it is likely to keep growing. In the aerospace and defence industry, as well as in the auto industry, more and more embedded device security and critical infrastructure protection devices are being used. This is driving the market in the Asia-Pacific region. Also, the best companies use business strategies like growing their businesses, working together, and making new products, which is helping to move the market in the Asia-Pacific region.
In 2021, China was in charge of the Asia-Pacific region because it was using IoT more and more.
China makes more money than any other country in the Asia-Pacific area. Fortune Business Insights did a study that says China will keep doing this for the next few years. China is in first place because it has a lot of factories that make sensors and semiconductors. It is also quickly using cutting-edge technologies like connected device security and end-to-end IoT security in its day-to-day manufacturing, which is helping to grow the market.
Some of the best companies support different business strategies, such as partnerships, mergers, and business growth. The growth of the market in China is being driven by the fact that China is a centre for making sensors that are used in devices all over the world.
Asia-Pacific is expected to grow the most during the time period covered by the forecast. Because some of the best companies in the world are based in China and Japan. Also, more and more small and medium-sized businesses and companies in developing countries like Japan, South Korea, and Singapore make security equipment. The power, energy, and utility industries are using IoT more and more, which is driving the market in the region. Some local government agencies have been working on embedded and Internet of Things (IoT) security to drive the market in the area.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 10.9% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 17.03 Billion |
| By Component | Hardware, Service, Others |
| By Application | Payment, Authentication, Content Protection, Others |
| By End-user | Automotive, Healthcare, Consumer Electronics, Telecommunications, Aerospace & Defense, Others |
| By Companies | ADVANTECH CO. LTD. (Taiwan), ANALOG DEVICES INC (U.S.), BAE SYSTEMS PLC (U.K.), BROADCOM INC (U.S.), CISCO System (U.S.), Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), NXP Semiconductors (Netherlands), IBM Corporation (U.S.), MCAFEE LLC (U.S.), Microchip Technology (U.S.) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Latest Trends:
As the number of IoT applications grows, so does the need for embedded security.
Right now, technology is growing faster than it ever has before. Every day, new tools and ways to do things are made possible by changes in technology. It's more than just computers and phone apps. It's all about artificial intelligence (AI) and Internet of Things (IoT) devices, which people use a lot in their daily lives. In every field, IoT is becoming more and more important. It is used in industrial automation, medical devices, aeroplanes, smart home units, cars, and many other places. Authentication and controlling who can get into a smart home have become very important. IoT is being used more and more, which makes it more likely that devices that are connected will have security problems. This also makes it more likely that cyber threats from the outside will attack running systems, which will hurt how the device works and cause data loss. More and more embedded security devices are being used to stop this from happening.
Driving Factors:
Market Value to Surge Because more people want electric and hybrid cars to have safety features.
The market for electric cars keeps growing and getting more mature every day. People are looking hard for cars that don't run on fossil fuels. Both your wallet and the environment should like these cars. To meet all of these needs, there need to be more and more places at homes and on roads where electric cars can be charged. It is important that this charging point is safe to protect their important infrastructure. It's hard to deal with all of the security problems in the system because the electric vehicle and charging point are both complicated and pose different safety risks. With the help of an embedded device security system, this problem can be fixed. Since cars are getting more software that is built in and connected, it's important to make sure that electric vehicles are safe. As the number of electric cars and connected devices in smart and hybrid cars goes up, so does the need for security hardware that is built into the devices.
Restraining Factors:
The growth of the industry will slow down. Because there aren't enough skilled workers and it costs a lot to start a business,
In the past few years, this system has become more and more popular. But the basic price of a single physical security device and a single communication security device is more than the price of a standard security system. The transmitters, receivers, and sensors inside a security system are more expensive, which has a direct effect on the main retail price of the system. Also, it's too expensive for small and medium-sized businesses and individual users to update their security systems or use the new embedded technology. Also, the fact that there aren't enough skilled workers to make embedded devices could slow the market's growth over the next five years.
Key Segments Covered:
Top Market Players:
ADVANTECH CO. LTD. (Taiwan), ANALOG DEVICES INC (U.S.), BAE SYSTEMS PLC (U.K.), BROADCOM INC (U.S.), CISCO System (U.S.), Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), NXP Semiconductors (Netherlands), IBM Corporation (U.S.), MCAFEE LLC (U.S.), Microchip Technology (U.S.), and others.
By Component
- Hardware
- Service
- Others
By Application
- Payment
- Authentication
- Content Protection
- Others
By End-user
- Automotive
- Healthcare
- Consumer Electronics
- Telecommunications
- Aerospace & Defense
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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