SAN FRANCISCO, March 28, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Embedded Security – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: 5; Published: March 2022
Executive Pool: 3542
Companies: 240 – Players covered include Cisco Systems, Inc.; ESCRYPT GmbH; Gemalto NV; IDEMIA; Infineon Technologies AG; Kurz and Ovd Kinegram; Microchip Technology, Inc.; NXP Semiconductors SA; Qualcomm, Inc.; Rambus, Inc.; Renesas Electronics Corporation; Samsung Electronics Co., Ltd. ; STMicroelectronics SA; Texas Instruments, Inc. and others.
Blanket: All major geographies and key segments
segments: Product (Secure Element & Embedded SIM, Trusted Platform Module, Hardware Security Module, Hardware Tokens); Type of security (authentication and access management, payment, content protection); Application (Payment & Card Processing, Smartphones & Tablets, Wearables, Automotive, Industrial, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.
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Global embedded security market to reach $6.3 billion by 2026
Defined as a system architecture within a larger system designed to perform specific control functions independently, embedded systems include both hardware and software components integrated on a single platform. In other words, embedded systems feature an embedded factory-preprogrammed microcontroller or microprocessor programmed to run a single application in real time. The majority of embedded systems are capable of performing safety or critical functions that are vital to the intended functions of any system as well as its surrounding environment. The security of embedded systems is therefore of great importance for all sectors, ranging from defense and aerospace to household appliances. Cutting-edge embedded systems are now interconnected through the Internet of Things (IoT) to create additional attack vectors. Cyberattacks on embedded systems can range from disabling devices that prevent vehicle theft and degrading control system performance to controlling printers to transmit copies of documents to a hacker as well as access to data from smartphone. The robust outlook for embedded systems is expected to drive gains in the embedded security market. The global embedded systems market is expected to experience robust growth over the coming years. Increasing research and development activities, increasing demand for advanced driver assistance systems in electric and hybrid vehicles, increasing preference for portable devices integrated into in-vehicle systems, and increasing demand for multi-core processors in applications military are some of the major growth factors of the global embedded. systems market. In recent years, there has been an increased demand for automation in various sectors, with movements and technologies such as Internet of Things (IoT), wearable devices, smart vehicles and homes, office automation, connectivity 5G and Industry 4.0 continuing to gain traction. at a rapid pace. These factors are expected to play a significant role in creating many lucrative opportunities for the adoption of embedded systems in a wider range of applications in the near future. Furthermore, the increasing industrialization and urbanization of countries such as China and India are expected to support the growth of the global embedded systems market in the coming years.
Amid COVID-19 Crisis, Global Embedded Security Market Estimated at US$4.9 billion in 2022, is expected to reach a revised size of US$6.3 billion by 2026, growing at a CAGR of 6.1% over the analysis period. Secure Element & Embedded SIM, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.6% to reach US$2.5 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Trusted Platform Module segment is readjusted at a revised CAGR of 6.2% for the next 7-year period. This segment currently represents a 26.6% share of the global embedded security market. One type of hardware security module for IoT devices is the TPM or Trusted Platform Module. It is a hardware-based root of trust, providing core services such as strong identity, integrity measurement, and secure storage. Companies like Infineon Technologies, for example, offer these TPM chips. The chips are embedded in high-end embedded or industrial devices. Since TPMs are standards-based, chips with different levels of security operate on the same APIs. A range of low-cost options provide TPM capabilities for low-risk applications.
The US market is estimated at $1.6 billion in 2022, when China is expected to reach $1 billion by 2026
The embedded security market in the United States is estimated at US$1.6 billion in 2022. The country currently accounts for a 33.7% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of 1 billion US dollars in 2026 with a CAGR of 7.5% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 4.8% and 5.5% respectively over the analysis period. In Europe, Germany is expected to grow at around 4.9% CAGR while the rest of the European market (as defined in the study) will reach US$327.6 million at the end of the analysis period. Developing regions including Asia Pacific, Latin America and the Middle East are on track to show faster growth in the consumption of embedded systems. Asia Pacific expected to be the fastest growing market for embedded systems. Industry 4.0, growing industrialization and increasing urbanization in countries such as China and Indiacoupled with the increasing use of embedded systems in various sectors, including energy, healthcare and transportation, is helping to fuel the growth of the regional market.
Hardware security module segment to reach US$1.5 billion by 2026
In the global hardware security module segment, United States, Canada, Japan, China and Europe will drive the CAGR of 6.3% estimated for this segment. These regional markets representing a combined market size of US$802.9 million will reach a projected size of US$1.2 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$199.4 million by 2026. Continued
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SOURCE Global Industry Analysts, Inc.