Embedded Security Market to Reach USD 20.78 Billion by 2030 as Key Growth Region, Demand, and Competitive Landscape

New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The Embedded Security Market is expected to grow at a CAGR of 11.20% from 2023 to 2030, reaching USD 20.78 Billion by 2030. The market was valued at USD 8.77 Billion in 2022, as per the research report by Reports Insights.

The market analysis includes a detailed study of the market size, share, and trends based on components, applications, end-users, and regions. The components include hardware, software, and services, while applications include payment, authentication, content protection, and others.

The end-users covered are automotive, healthcare, telecommunications, consumer electronics, aerospace & defense, BFSI, and others. The report provides a comprehensive analysis of the market trends and drivers, challenges, opportunities, and competitive landscape of the market.

The growth of the market is attributed to the increasing demand for security solutions in various end-user industries, including healthcare, automotive, and consumer electronics. The hardware segment is expected to hold the largest market share due to the rising adoption of connected devices and the increasing need for secure data transfer. The Asia Pacific region is expected to witness significant growth due to the increasing adoption of embedded security solutions in emerging economies such as China and India.

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Recent Developments

• In January 2022, Thales Group launched a new product called SafeNet MobilePASS+ 2.2, a mobile authenticator designed for Android and Windows platforms. The product enables users to approve push authentication requests and generate secure one-time passcodes with a single swipe. The authenticators can be unlocked via fingerprint or face recognition. It also offers a simple and quick self-enrollment process and QR activation.
• In February 2021, NXP Semiconductor has recently launched the EdgeLock 2GO, an IoT device designed for secure deployment and maintenance with zero-touch functionality. This device provides high-end security to IoT systems with advanced features, reducing the risk of attacks and other security breaches.

List of Major Embedded security Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• Infineon Technologies AG
• STMicroelectronics N.V.
• McAfee, LLC
• Microchip Technology Inc.
• Intellias Ltd.
• Karamba Security Ltd.
• Samsung Electronics Co.,
• Idemia Group
• Rambus Incorporated
• Alx System
• Sirin Software

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Embedded security refers to the protection of the security of computer systems and other electronic devices that are integrated into everyday objects including cars, appliances, and medical devices among others. The devices are often called "embedded systems" and are designed to perform specific functions using specialized hardware and software. Further, with the increasing prevalence of connected devices in our daily lives, embedded security has become more important than ever. Security vulnerabilities in the devices lead to serious consequences including data theft and privacy violations.

Furthermore, embedded security typically involves a combination of hardware and software measures designed to prevent unauthorized access and ensure the integrity of the system. This includes things like encryption, secure boot, secure firmware updates, secure communications protocols, and others. 

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Key Market Highlights

• The global embedded security market size is estimated to exceed USD 20.78 billion by 2030 and grow at a CAGR of 11.20% during the forecast period (2023-2030).
• Globally, embedded security is divided based on the component into hardware, software, and services.
• In the context of the application, the market is separated into payment, authentication, content protection, and others.
• On the basis of end user, the market is categorized into automotive, healthcare, telecommunications, consumer electronics, aerospace & defense, BFSI, and others.
• The market is geographically divided into five regions: Europe, Latin America, the Asia-Pacific, North America, and the Middle East and Africa.
• North America and Asia Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on  technological advancements in embedded security.

Embedded security Market Segmentation Details:

Based on component, the software segment contributed the largest shares to the market growth in 2022. The increased demand for secure and reliable software solutions for embedded systems is boosting market growth. The embedded software is used a wide range of industries including automotive, aerospace, medical, and consumer electronics among others. For instance, the increasing adoption of advanced driving assistance systems (ADAS) in automated cars is leading to a growing need for embedded security.

Based on application, the payment segment is anticipated to offer substantial shares to the embedded security market growth during the forecast period. The growing demand for embedded security is closely tied to the increasing use of electronic payments. Electronic payments, including credit and debit cards, mobile payments, and online transactions, have become an increasingly popular way for people to make purchases. The rise of electronic payments has also resulted in an increase in cyber threats, such as data breaches, identity theft, and fraud. To address the aforementioned concerns, embedded security has become essential for the reliability of electronic payments.

Based on end user, the automotive segment contributed the largest shares to the market growth in 2022. The growing demand for embedded security in automotive systems is driven by several factors, including the increasing complexity of in-vehicle systems, the growing connectivity of vehicles, and the rising threat of cyberattacks. Smart vehicles are equipped with a wide range of electronic systems, including infotainment systems, advanced driver assistance systems (ADAS), telematics systems, and more. Additionally, there has been growing connectivity of vehicles through the adoption of Wi-Fi, cellular networks, and other wireless technologies. The increasing complexities of the vehicle have resulted in the cyber threat concern which in turn has boosted the demand for embedded security.

Based on region, North America accounted for the largest share contribution to the market growth in 2022. The growing adoption of technology in industries including automotive, consumer electronics, and healthcare among others is boosting the market growth of embedded security in the region. Further, the region has witnessed significant adoption of advanced technologies, including Internet of Things (IoT) devices, mobile devices, and connected systems that have resulted in the growth of the market.

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Global Embedded security Market Segmentation: 

• By Component
  • Hardware  
  • Software
  • Services
• By Application
  • Payment
  • Authentication
  • Content Protection
  • Others
• By End User
  • Automotive
  • Healthcare
  • Telecommunications
  • Consumer Electronics
  • Aerospace & Defense
  • BFSI
  • Others

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