The Embedded Security Market is Forecast to Grow at a 7.2% CAGR from 2023 to 2033

Embedded Security Market

By the end of 2033, it is expected that the market for embedded security would be valued US$ 15,110.6 Mn, up from an estimated US$ 7,182.9 Mn in 2022. The embedded security market is projected to grow at a CAGR of 7.2% from 2023 to 2033, reaching a value of US$ 7,519.4 Mn in 2023.

The market for security technologies and solutions that are built into products and systems rather than added on as an afterthought is referred to as the "embedded security market." A wide range of devices and systems, including internet of things (IoT) devices, medical devices, industrial control systems, and more, utilise these technologies, which can include encryption, secure boot, secure firmware upgrades, and more. As the number of connected devices keeps growing and security becomes more important, the market for embedded security is anticipated to grow in the next years.

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The embedded security market refers to the use of security technology, such as encryption and authentication, in embedded systems and devices. This includes a wide range of devices, such as smartphones, IoT devices, and industrial control systems. The market for embedded security is growing as the number of connected devices increases and the need for secure communication and data protection becomes more important. Key players in the market include companies that provide software, hardware, and services for embedded security, such as ARM, Infineon Technologies, and McAfee.

Increasing Applications of Embedded Security in Automobile Sector to Spur Market Growth

Embedded security is used in various applications in the automobile sector, such as body electronics, navigation systems, steering and braking systems, traffic control and powertrain and chassis control, and mobile and e-Com access applications.

Embedded security plays a significant role in robotics for increasing reliability and performance in some special situations, such as minimizing IOT threat risks and security posture assessment.

Moreover, embedded security solutions offer different features such as immobilizer systems, greater vehicle safety, guard sensors, component identification, telematics, infotainment systems, and higher automotive reliability for automotive industry applications, as such, boosting the growth of the embedded security market.

Embedded Security for Retail, Medical, and Critical Infrastructure to Propel Sales

Secure authentication and anti-counterfeit solutions are widely used for protecting consumers and system manufacturers. These also include various features for retail, medical, and critical infrastructure, such as convenient card handling, fully-integrated one-module solutions developed for standard high-volume card manufacturing with the highest security.

The demand for embedded security solutions is increasing for threat analysis and encryption, streamlined protection, and regulatory compliance applications.

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Side-channel Attacks on Embedded System Devices Boosting Demand for Embedded Security

Side-channel attacks extract processed data from a chip or a system, and use them to deduce sensitive information such as cryptographic keys, and messages, among others. An embedded security system implements multiple kinds of security in side channel analysis to identify potential embedded security threats.

It also implements security features for systems-engineering levels that are effective in preventing hackers from interacting with the software. Side-channel attacks can be varied for users, service providers, and manufacturers.

Embedded security solutions are capable of handling many functions, such as conducting end-to-end threat analysis, design and test for security, security testing, securing applications, and real-time computing data, which makes them ideal for use in a variety of applications. These factors are anticipated to contribute to the growth of the embedded security market in the coming years.

South Asia & Pacific Region to Offer Lucrative Growth Opportunities

The embedded security market is witnessing rapid growth in the South Asia & Pacific region, due to increasing adoption of mobile and connected devices.

Embedded security market providers are striving to expand their operations in India, ASEAN Countries, and Australia, to unlock new growth avenues, attributable to the growing demand for consumer electronics and vast expansion of electronic industries in these countries.

Competitive Landscape

In May 2021, Microchip launched the trust platform design suite (TPDS), a software platform for device configuration and on boarding to Microchip's secure provisioning services.

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Key Players:

Infineon Technologies
NXP Semiconductors
Microchip
Texas Instruments
McAfee LLC
Advantech Co., Ltd.
STMicroelectronics
Renesas
Broadcom Inc.

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This release was published on openPR.