Pune, India, Sept. 03, 2021 (GLOBE NEWSWIRE) -- The global embedded security market size is estimated to grow at an astonishing rate owing to the increasing popularity of embedded wearables and smart devices, states Fortune Business Insights™ in an upcoming report, titled, “Embedded Security market size, share & industry analysis, By Type (Hardware, Security Module, Trusted Platform Module, Hardware Tokens, Secure Element and Embedded SIM), By Application (Wearables, Smartphones and Tablets, Security in IoT Connectivity, Automotive, Transport), By End Use (Payment Security, Authentication and Access Management, Content Protection) and regional forecast 2021-2028.” The report further explains how embedded security systems are utilized in various industries including smartphones, IoT, wearable devices, and security.
The COVID-19 contagion has caused massive disruption in the global consumer durables market. Owing to the total shutdown of the manufacturing units in China, the industry has experienced an intense shortage of raw materials and components, leading to delayed production. Major players in the industry are focusing on regaining the momentum by decentralizing their supply chain.
At Fortune Business Insights, we are analyzing the market thoroughly to provide a comprehensive research report that will help you make effective decisions and cope up with the crisis.
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Highlights of the Report:
While making the Embedded Security Market report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
Drivers & Restraints-
Skyrocketing Demand for Embedded Wearable Devices to Drive Growth
The rapidly increasing demand for wearable devices is expected to be instrumental for the growth of the global embedded security market. According to the International Data Corporation (IDC), the market for global wearable devices grew by 35.1% compared to last year in the third quarter of 2020. The massive leap is expected to propel the demand for embedded security systems, driving the growth of the market for embedded security.
In addition, growing applications of the Internet of Things (IoT) in numerous industries, such as healthcare, blockchain, retail, edge computing, smart home devices, and security, is expected to increase the demand for embedded security, which is set to further enhance growth.
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Regional Insights-
Tech-giants Attaining Expansion in U.S. to Help North America Dominate
Home to the Silicon Valley, North America is expected to dominate the embedded security market in the forecast timeframe owing to the presence of major tech-giants in the region. These players are focusing on expanding their market footprints globally.
- For instance, as reported by the Verge on September 15th, 2020, a technology news reporting website in the U.S., Apple, Inc. introduced a new family setup feature that enables iPhone users to set up and manage multiple Apple Watches in a single iPhone. This would enable the usage of the watch without owning an iPhone. This feature by Apple, along with the launch of SE, an affordable series of the Apple Watch, is expected to boost the demand for smart wearables. This, in turn, is expected to drive the growth of the embedded security market in the region.
The market in Asia Pacific is anticipated to showcase significant growth. The development of innovative solutions in the embedded security space by emerging players from China and Japan are expected to fuel the demand for embedded security systems. The increasing number of mobile subscriptions in the region is also anticipated to further enhance growth.
Some of the Key Questions Answered in this Report:
- What focused approach and constraints are holding the Embedded Security Market demand?
- SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
- What trends, challenges and barriers will impact the development and sizing of the Global Embedded Security Market?
- Detailed Overview of Market will help deliver clients and businesses making strategies.
- Influencing factors that are thriving demand and latest trends running in the Embedded Security Market.
- Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
- What is the Market growth momentum or market carries during the forecast period?
- Which region may tap the highest Embedded Security Market share in the coming era?
- Which application/end-user category or Product Type may seek incremental growth prospects?
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Competitive Landscape-
Key Players Focus on Partnering with Experts to Integrate Smart Solutions in Vehicles
Leading players in the Embedded Security Market are focusing on making vehicles safer and smarter by integrating embedded security solutions in them. For instance, in December 2020, Integrity Security Services (ISS), an embedded security solution expert, joined hands with V2X Systems. Together, these companies will ensure reliable communication exchange between the vehicle and the roadside equipment.
Industry Developments-
· In April 2020, Motorola Mobility LLC partnered up with Thales Group to integrate sim (e-SIM) with Motorola’s patented smartphone for secure mobile connectivity. This e-sim has enabled a new generation of connected consumer devices, such as wearables, smartphones, or PCs, ensuring a highly compact solution for secure mobile connectivity.
· In February 2020, Samsung launched a data security chip solution for mobile devices. This new solution has dedicated security software for advanced data protection and secure key storage with EAL 5+ certification. This advanced security chip defends against the possible attacks by adding extra counter measures. Thus, this solution prevents copying and accessing data from the respective mobile device.
A List of Key Manufacturers Operating In the Global Embedded Security Market Report:
- IDEMIA
- NXP Semiconductors
- Renesas Electronics Corporation
- Thales Group
- Beijing HuaDa ZhiBao Electronic System Co., Ltd.
- Samsung
- IBM Corporation
- SWIFT
- Others
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