Trusted Platform Module (TPM) Market revenue to hit USD 6 Billion by 2035, says Research Nester

Major Trusted Platform module (TPM) market Companies include IBM Corporation, Intel Corporation, Microsoft Corporation, Advanced Micro Devices, Inc., Hewlett-Packard Development Company, L.P., Lenovo, Infineon Technologies AG, Nuvoton Technology Corporation, SAMSUNG ELECTRONICS CO., LTD. and Security Innovation Inc.

New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The global trusted platform module (TPM) market size is slated to expand at ~ 13% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 6 billion by the end of 2035, up from a revenue of ~USD 2 billion in the year 2022., owing to the growing affordability of connected devices such as laptops, smartphones, and tablets, as well as the convenience they offer with regards to communication, entertainment, and work. According to estimates, there will be 6.6 billion smartphone users worldwide by 2023, marking an annual growth rate of 4%. Also, approximately 270 million laptops and nearly 155 million tablet units were predicted to be shipped in 2021. As more and more devices are connected to the internet, there is a greater need to protect these devices from cyber threats.
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TPM technology provides a secure way to store sensitive data and can help protect devices from malicious software that can steal or damage data. Additionally, the growth in the market is driven by the rising demand for secure storage and authentication of sensitive data. The increasing implementation of security protocols, such as two-factor authentication and digital signatures, has resulted in a surge in demand for the TPM market.

Global Trusted Platform Module (TPM) Market: Key Takeaways

  • Market in Asia Pacific region to propel at highest growth
  • Mobile security segment to garner the highest growth rate in the coming years
  • Market in North America to grow at the highest rate

An Escalating Rate of Cyber-Attacks to Boost Market Growth

The global trusted platform module (TPM) market is driven by the need for secure identity and access management solutions, as well as secure storage and cryptographic solutions for data protection. With the increasing number of connected devices, the risk of cyber-attacks and data breaches increases as well, driving the need for secure, trusted platforms to protect data. In 2020, cyber-attacks have become the fifth most rated risk for both public and private organizations. The number of records stolen by cybercriminals will climb to more than 32 billion by 2023, a 170% increase since 2018. Cyber-attacks have become more frequent and sophisticated, creating a need for secure hardware-based authentication systems such as TPMs to protect networks and data. TPMs provide a secure environment for storing cryptographic keys, passwords, and digital certificates, which are vital for secure authentication and data encryption. With the continuously evolving threat landscape, organizations are increasingly deploying TPMs to enhance their security measures. TPMs offer a secure, tamper-proof platform that is not vulnerable to malware and other cyberattacks.

Global Trusted Platform Module (TPM) Market: Regional Overview

The global trusted platform module (TPM) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region. 

Rising E-commerce Investments to Create Market Opportunities in the Asia Pacific Region
The trusted platform module (TPM) market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2035 on the back of growing e-commerce investments, as the region is home to many of the world's leading e-commerce companies. For instance, Reliance Industries, the Indian e-commerce giant, received an investment of USD 6 billion from Facebook in April 2020. Flipkart, one of India's largest e-commerce companies, announced a USD 1.2 billion investment by Walmart in July 2020. These companies are constantly looking for ways to secure their online transactions and protect their data, which makes the Trusted Platform Module (TPM) Market an attractive option for them. As the e-commerce industry evolves, customers expect a higher level of security. TPM chips provide an extra layer of protection by encrypting and decrypting sensitive data, which makes them an invaluable asset for e-commerce companies. Moreover, with the rise of remote work and e-learning in the region, the need for reliable and secure PCs and laptops has become more important than ever. According to reports, the number of China's remote employees reached 460 million as of December 2021. This has resulted in an increased demand for technologies such as trusted platform modules (TPMs), which provide a secure environment for data to be stored and accessed. This has helped drive the growth of the Trusted Platform Module (TPM) Market in the Asia-Pacific region.

Rapid Digitalization of the Banking Sector to Drive Market Growth in the North American Region
The trusted platform module (TPM) market in the North America region is estimated to garner the highest CAGR by the end of 2035 due to the increase in cyberattacks in the banking sector. Among the number of financial phishing attacks in the United States in 2021, 18% were directed at e-shops, followed by payment systems and banks. As digital banking and other financial services become more widely used, it is becoming increasingly important for firms to protect customer data. Banking institutions are increasingly turning to TPM solutions for their security needs, as it enables them to secure data and transactions with hardware-based authentication. This helps prevent malicious actors from gaining access to sensitive data and can help protect against online fraud. In addition, the growing demand for secure data storage and processing within enterprises and the increasing penetration of e-commerce services are expected to drive the growth of the regional market. For instance, e-commerce sales in the US reached USD 957 billion in 2021, up 19% from USD 812 billion in 2020. TPM provides a secure environment for e-commerce services, such as protecting financial data and ensuring data privacy. Additionally, the increasing use of AI and ML technologies for data security and authentication is also expected to have a positive impact on the growth of the market in the region.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:  

  • North America (U.S., Canada)  
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)  
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America)  
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)  
  • Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). 

Global Trusted Platform Module (TPM), Segmentation by Application

  • Pay TV & ID
  • Mobile Security
  • Automotive
  • Banking
  • Transport
  • Security in IoT Connectivity

The mobile security segment is expected to generate the largest revenue by the end of 2035, owing to the increasing need for secure authentication and access control solutions for mobile devices, the growing security and privacy concerns related to mobile applications, and the rising number of cyberattacks targeting mobile devices. It was observed that in 2021, 72% of phishing sites directly targeted mobile devices. TPM is a small chip that is embedded into a mobile device and stores cryptographic keys and passwords. It can be used to authenticate the device and protect the data stored on it. The TPM is also used to detect if a device has been tampered with or if malicious software has been installed. Moreover, the proliferation of mobile payment applications has led to an increase in the number of security threats, prompting users to install security software on their devices. This, in turn, is creating a huge demand for mobile security solutions, which is expected to further propel the growth of the mobile security segment.

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Global Trusted Platform Module (TPM), Segmentation by Implementation Type

  • Discrete
  • Integrated
  • Firmware

The integrated segment is anticipated to hold the largest revenue by the end of 2035 owing to their widespread use in application-specific integrated circuits (ASICs), microcontrollers (MCUs), and system-on-chip (SoC) devices, as they are more secure and cost-effective than discrete TPMs. Additionally, the increasing demand for IoT and AI devices is further driving the growth of the integrated TPM segment. Further, with rapid industrialization, manufacturers are increasingly adding integrated TPM to their products to better protect data and devices from security threats, thus driving the growth of the segment. For instance, Infineon Technologies launched the first TPM designed specifically for industrial applications, the OPTIGATM TPM SLM 9670, in March 2019. The industrial TPM was designed to improve the security of industrial control systems, and it offers a number of features, such as enhanced authentication, secure storage, secure boot, and secure firmware updates. Moreover, integrated TPMs are embedded directly into the circuit board of the device, reducing the size and cost of the device and also providing better security as they are more difficult to tamper with, making them the preferred option for many organizations.
Global Trusted Platform Module (TPM), Segmentation by Type

  • TPM 1.2
  • TPM 2.0

Few of the well-known market leaders in the global trusted platform module (TPM) market that are profiled by Research Nester are IBM Corporation, Intel Corporation, Microsoft Corporation, Advanced Micro Devices, Inc., Hewlett-Packard Development Company, L.P., Lenovo, Infineon Technologies AG, Nuvoton Technology Corporation, SAMSUNG ELECTRONICS CO., LTD., Security Innovation Inc., and other key market players.

Recent Development in the Global Trusted Platform Module (TPM) Market

  • A new OPTIGA TPM 2.0 solution with open-source software stack has been announced by Infineon Technologies for automotive, industrial, and Internet of Things applications.
  • The Nuvoton Technology Company and OnBoard Security Company announced a partnership to enhance IoT security in February 2021. In addition to Nuvoton's TPM family, OnBoard Security's TrustSentinel TSS 2.0 supports OnBoard Security's TrustSentinel TSS 2.0.

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