The market is segmented, By Product (Secure Element and Embedded SIM, Trusted Platform Module, Hardware Security Module, Hardware Tokens), By Application (Restroom Toilet, Kitchen, Living room, Bedroom, Bathroom, Industrial plants, Others), and Region(North America, Europe, Asia Pacific and the Rest of the World).
The market is segmented, By Product (Secure Element and Embedded SIM, Trusted Platform Module, Hardware Security Module, Hardware Tokens), By Application...
The embedded security system market is estimated to grow from USD 4.54 billion in 2022 and is likely to growat a CAGR of 5.93% during 2023-2028 to reach USD 6.43 billion by 2028.
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What is an Embedded Security System?
Embedded security systems enable manufacturers to ensure their products & devices are protected from cyber threats. It is an approach to protect software running on embedded systems from attack. Embedded systems security is a cybersecurity field that is aimed at preventing malicious access to and use of embedded systems. It offers mechanisms to protect a system from all types of malicious behavior.
Embedded Security System Market Report Overview
Market Size in 2028
USD 6.43 Billion
Market Size in 2022
USD 4.54 Billion
Market Growth (2023-2028)
CAGR of 5.93%
Base Year of Study
2022
Trend Period
2017-2021
Forecast Period
2023-2028
Market Dynamics
Expanding IoT applications spurs the need for IoT security, which spurs the market. The IoT consists of billions of digital services, devices, and other physical objects, thus having the ability to seamlessly interact, connect, and exchange information.
The growing adoption of wearable devices in healthcare sectors augments the demand for embedded security. Moreover, wearable devices are creating an increasingly wide footprint in the healthcare sector, thus expanding product usage in the coming years.
The increasing demand for IoT security: The IoT is connecting a growing number of devices, which creates a larger attack surface for attackers. This is driving the demand for embedded security solutions to protect IoT devices from attack.
The growing adoption of wearable devices in healthcare: Wearable devices are becoming increasingly popular in healthcare, as they can be used to track patient health data. This creates a need for embedded security solutions to protect the data stored on these devices.
The increasing sophistication of cyberattacks: Cyberattacks are becoming increasingly sophisticated, which is driving the demand for more advanced embedded security solutions.
The increasing awareness of the importance of security: The increasing number of high-profile cyberattacks is raising awareness of the importance of security in embedded systems. This is driving the demand for embedded security solutions.
Key Players
Key players operating in the global embedded security system market are-
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories:
By Product Type
Secure Element and Embedded SIM
Trusted Platform Module
Hardware Security Module
Hardware Tokens.
By Application Type
Restroom Toilet
Kitchen
Living room
Bedroom
Bathroom
Industrial plants
Others.
By Region
North America (Country Analysis: The USA, Canada, and Mexico),
Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe),
Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific),
Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others).
Segment Analysis
By Region
The North American market accounted for a significant share in 2022 and is expected to grow at a robust CAGR during the review period. The market growth is mainly attributed to the rising concern for the protection of critical infrastructure and sensitive data, which has spurred government intervention in the past few years. Thus, government initiatives, such as specific budget allocations as well as mandated security policies, further bolster regional market growth.
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The Asia Pacific market is expected to grow at a healthy CAGR during the review on account of the growth of the major end-use industries. This growth is mainly attributed to expanding their operations in India, China, Japan, and Australia, to unlock several growth avenues, which is responsible for the surging demand for consumer electronics & vast expansion of electronic industries in these countries.
Target Audience
The target audience of the market includes-
Embedded Security System Vendors
Embedded Security System Manufacturers
Embedded Security System Distributors
Organizations
Government Bodies.
Covid-19 Impact Analysis
The outbreak of COVID-19 negatively affected the Embedded Security System industry. The shutdown of manufacturing activities along with a ban on travel & transportation ban across the globe. Limited industrial activities and subsequently poor demand for integration services & sales of new embedded security interfaces products, adversely affect the product demand.
Critical Questions Answered in the Report
What are the key trends in the global market?
How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
What is the impact of COVID-19 on the global market?
What are the key strategies adopted by the major vendors to lead in the global market?
What is the market share of the top vendors?
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the embedded security system market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Customization Options
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
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Embedded security systems enable manufacturers to ensure their products & devices are protected from cyber threats. It is an approach to protect software running on embedded systems from attack. Embedded systems security is a cybersecurity field that is aimed at preventing malicious access to and use of embedded systems. It offers mechanisms to protect a system from all types of malicious behavior.
Expanding IoT applications spurs the need for IoT security, which spurs the market. The IoT consists of billions of digital services, devices, and other physical objects, thus having the ability to seamlessly interact, connect, and exchange information. The growing adoption of wearable devices in healthcare sectors augments the demand for embedded security. Moreover, wearable devices are creating an increasingly wide footprint in the healthcare sector, thus expanding product usage in the coming years.
The target audience of the market includes Embedded Security System Vendors, Embedded Security System Manufacturers, Embedded Security System Distributors, Organizations, and Government Bodies.
