Embedded Security Market is Estimated to be worth US$ 9,882 Bn by 2026, Expected to Register a CAGR of 8.1%

London, UK, May 31, 2022 - Demand for sophisticated security devices, systems, and services has witnessed a steady increase over the past decade. An increase in the volume and intensity of cyberattacks, coupled with the recent shift to remote work environments, the popularity of wearable devices, and the use of embedded AI in diverse sectors, have further magnified the need for security devices.

As a result, the global embedded security market has observed stellar expansion in the past few years and is expected to register robust growth in future. Currently, prominent industry players in embedded security market are engaged in rigorous innovation and promising partnerships, focusing particularly on maintaining and generating revenue through advanced research and development initiatives.

Fairfield Market Research finds that the total valuation of the global embedded security market is poised to reach US$ 9,882 Bn by 2026. This promising market valuation is a strong indicator of the favourable business opportunities floating across the global embedded security market. Due to the presence of a flourishing IT industry, developed economies, particularly in North America and APAC, are expected to observe sound growth prospects in the future.

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Embedded AI, Smart Wearable Technology Set to Create Sound Business Outcomes

Globally, embedded AI has started to transform several industries including automotive and mobility, real estate, hospitality, and other heavy industries. This has created an extremely suitable business landscape for the global embedded security market, majorly due to security issues surrounding embedded AI. Consequently, the rising demand for embedded security runs parallel to the increase in the application of embedded AI.

In addition to this, the widespread popularity of smart wearable devices, especially among millennials, is also anticipated to positively influence the market owing to serious concerns around data breaches, identity theft, and personal safety. Moreover, the integration of advanced security solutions in electric vehicles is also predicted to strengthen the global embedded security market over the foreseeable future.

Despite this promising business scenario, the global embedded security market is expected to be challenged by the rapidly growing sophistication of cyberattacks. New tactics, techniques, and procedures (TTP) can significantly hamper the efficiency of embedded security solutions. However, leading market players are prepared to overcome this challenge through cross-collaboration, responsive strategies, and real-time event correlation.

North America Emerges as the Leader, APAC Strong Contender

Presently, North America is the largest market in the global embedded security market, and it is projected to register a robust CAGR of 8.1% by 2026. In this region, the presence of key market players, favorable public policies pertaining to security, and innovative business ventures are predicted to open fresh revenue streams across the global embedded security market in the coming years. On the other hand, security-conscious economies in APAC, such as Japan, India, China, and Singapore, are set to witness the rapid expansion of their embedded security market. Additionally, growing cybersecurity concerns and a fast-evolving IT sector are also expected to drive growth in emerging and developed economies across the Asia Pacific.

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The global Embedded Security market is segmented as below:

By Offerings Coverage:
• Hardware
• Software
• Services

By Security Type Coverage:
• Authentication And Access Management
• Payment
• Content Protection

By Application Coverage:
• Wearables
• Smartphones
• Automotive
• Smart Identity Cards
• Industrial
• Payment Processing And Card
• Others

Key Market Players

Prominent market players in the global embedded security market include Microsoft Corporation, Cisco, Google, Adobe, Thales Group, Infineon, Samsung, STMicroelectronics, IDEMIA, Texas Instruments, Qualcomm, NXP, Microchip Technology, and Renesas among others.

These industry leaders are actively pursuing strategic partnerships and open innovation, creating headways for consistent growth across the global embedded security market over the forecast period.

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