Global Embedded Security Market is Poised to Reach US$10 Bn by 2026, Registering a Robust CAGR of 8.1%: Fairfield Market Research

Pune, INDIA


LONDON, June 02, 2022 (GLOBE NEWSWIRE) -- Internet of Things (IoT) is one of the most fascinating advancements in the technology sector as it creates new headways for innovation, collaboration, and growth. From everyday gadgets to space tech, IoT holds immense value for virtually all aspects of modern life. However, new developments in the cyberattack landscape, coupled with the rising volumes of data exchange between devices, the chances of exploits and attacks in IoT-enabled systems has dramatically surged over the past few years. As a result, embedded security is now critical to mitigate business risks and safeguard embedded devices from malicious access or manipulation. The steadily rising demand for embedded security translates into extremely fruitful outcomes for the global embedded security market.

Fairfield Market Research finds that the global embedded security market is expected to reach a valuation of US$10 Bn by 2026, registering a robust CAGR of 8.1% over the forecast period. Between 2019 to 2026, key manufacturers in the global embedded security market are poised to pursue novel partnerships, strategic ventures, and rigorous innovation.

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Key Highlights and Trends in the Global Embedded Security Market

  • With a market share of US$1,898.0 Mn, North America held the largest market share in the global embedded security market in 2019. The region is expected to register a sound CAGR of 7.1% by 2026.
  • Advancements in the automobile industry, particularly in electric mobility, are set to increase the adoption of IoT, and subsequently, increase the demand for embedded security technologies.
  • The consistent rise in the adoption of smart wearable devices are projected to positively influence the global embedded security market owing to concerns around data safety and identity theft.

Need for Security in Connected Devices Drives Adoption of Embedded Security Solutions

Today, several devices are run on connected systems and networks, increasing the chances of security breaches. This widespread prevalence of connected devices is projected to create favourable demand for embedded security solutions. Moreover, wearable technology usage is also at an all-time high. With a well-integrated ecosystem of connected devices such as smartphones, virtual assistants, and smart wearables becoming common, consumers and businesses are embracing embedded security solutions to defend against new security threats. These factors have created promising opportunities for the global embedded security market as more consumers and organizations are driven towards advanced security solutions. In 2019, in terms of application, payment processing and card held the largest market share of 28.9%, followed by smart identity cards (27.4%), smartphones (11.5%), industrial systems (7.7%), and wearables (7.1%).

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High IoT Deployment Position North America as Regional Leader

North America is emerging as the largest player in the global embedded security market. This dominance can be attributed to high degree of IoT adoption, presence of major manufactures, increase in adoption of electric vehicles, and sound awareness about cybersecurity solutions. In the coming years, countries in APAC are predicted to positively impact the global embedded security market, primarily driven by concerns around cybersecurity and innovative developments within the IT sector.

Key market players in the global embedded security market include Google, Thales Group, Adobe, Zoom, Cisco, Microsoft Corporation, IDEMIA, Renesas, Qualcomm, Microchip Technology, and Samsung among others.

REPORT SCOPE & SEGMENTATION:

REPORT FEATURESDETAILS
Offerings Coverage
  • Hardware
  • Software
  • Services
Security Type Coverage
  • Authentication And Access Management
  • Payment
  • Content Protection
Application Coverage
  • Wearables
  • Smartphones
  • Automotive
  • Smart Identity Cards
  • Industrial
  • Payment Processing And Card
  • Others
Geographical Coverage
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)
Leading Companies
  • Infineon
  • STMicroelectronics
  • NXP
  • Qualcomm
  • Thales Group
  • Microchip Technology
  • Samsung
  • Texas Instruments
  • IDEMIA
  • Renesas
Report Highlights      Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Product-, Application-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis, Key Trends

About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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