Embedded Security For Internet Of Things Market: Controller Chip Segment Expected to be the Most Attractive Segment by Component
In addition, rising intensity of cyber-attacks on IoT devices and networks coupled with the introduction of revised industry guidelines to implement embedded hardware solutions are observed as other key factors driving the sales of embedded systems for IoT. In the near future, embedded security for IoT is likely to move towards providing security to hyper-connected technologies.
Future Market Insights (FMI) delivers such crucial findings in its latest outlook title “Embedded Security for Internet of Things (IoT) Market Global Industry Analysis and Opportunity Assessment, 2017–2027
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As per the report, the global market for embedded security for Internet of Things stood at US$ 2,525.0 Mn in 2016 and is estimated to reach US$ 11,123.6 Mn by 2027-end. In terms of revenue, the market is expected to witness a CAGR of 14.6% forecast period
By the end of 2027, controller chip components will account for nearly 83% revenue share of the global market for embedded security for IoT, reflecting a CAGR of 14.7% over the forecast period.
Application of embedded security for IoT in connected cars is expected to increase significantly throughout the forecast period. In 2016, around US$ 686.7 Mn worth embedded security systems for IoT were installed in connected cars.
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In addition to APEJ, North America is projected to be one of the most attractive markets for embedded security for Internet of Things during the forecast period. In 2016, the region’s market was valued at US$ 772.7 Mn and accounted for 30.6% revenue share. This region is expected to remain dominant in terms of revenue throughout the forecast period.
Increasing adoption of IoT devices has resulted in increased security concerns, hence a number of government regulatory bodies in the U.S. have issued security guidelines for IoT solution providers across different verticals. Meanwhile, the Western Europe embedded security for Internet of Things market is estimated to reach US$ 1,676.9 Mn by 2027 end, registering a CAGR of 13.1% during the forecast period.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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