Valued to be $6.3 Billion by 2026, Embedded Security Slated for Robust Growth Worldwide

SAN FRANCISCO, March 28, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Embedded Security - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 5; Released: 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 NV; Qualcomm, Inc.; Rambus, Inc.; Renesas Electronics Corporation; Samsung Electronics Co., Ltd.; STMicroelectronics NV; Texas Instruments, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product (Secure Element & Embedded SIM, Trusted Platform Module, Hardware Security Module, Hardware Tokens); Security Type (Authentication & Access Management, Payment, Content Protection); Application (Payment Processing & Cards, Smartphones & Tablets, Wearables, Automotive, Industrial, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Embedded Security Market to Reach $6.3 Billion by 2026
Defined as system architecture within a larger system designed to independently execute specific control functions, embedded systems comprise of both hardware and software components integrated onto a single platform. In other words, embedded systems feature an embedded factory pre-programmed microcontroller or microprocessor programmed to execute a single real time application. A majority of embedded systems are capable of performing safety or mission-critical functions that are vital to any system's intended functions and also its surrounding environment. Security for embedded systems thus, is of great relevance to every industry, ranging from defense and aerospace to appliances for households. State-of-the-art embedded systems now are becoming interconnected through the Internet of Things (IoT) to create extra attack vectors. Cyberattacks on embedded systems can range from disabling devices that prevent vehicle theft and degrading control system performances to controlling printers to transmit document copies to a hacker as also accessing the data from a smartphone. The robust outlook for embedded systems is expected to spur gains in the embedded security market. The global embedded systems market is poised to witness robust growth over the next few years. Rising research and development activities, growing demand for advanced driver assistant systems in electric and hybrid vehicles, increasing preference for portable devices incorporated with embedded systems, and rising demand for multicore processors in military applications are some of the key factors driving growth in the global embedded systems market. In recent years, there has been an increased demand for automation across various industries, with movements and technologies such as the Internet of Things (IoT), wearables, smart vehicles and homes, office automation, 5G connectivity, and Industry 4.0 continuing to gain traction at a rapid pace. These factors are expected to play an important role in creating numerous lucrative opportunities for the adoption of embedded systems across a wider range of applications in the near future. In addition, growing industrialization and rising urbanization in countries such as China and India are expected to bolster growth in the global embedded systems market in the coming years.

Amid the COVID-19 crisis, the global market for Embedded Security estimated at US$4.9 Billion in the year 2022, is projected 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 projected to grow at a 5.6% CAGR to reach US$2.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Trusted Platform Module segment is readjusted to a revised 6.2% CAGR for the next 7-year period. This segment currently accounts for a 26.6% share of the global Embedded Security market. A type of hardware security module for IoT devices is the TPM or Trusted Platform Module. It is a hardware based root of trust, offering basic services like strong identity, integrity measurement and secure storage. Companies like Infineon Technologies for instance, offer these TPM chips. The chips are integrated in higher end embedded or industrial devices. Since the TPMs are standards-based, chips with different security levels work across same APIs. A range of low cost options offer TPM capabilities for low risk applications.

The U.S. Market is Estimated at $1.6 Billion in 2022, While China is Forecast to Reach $1 Billion by 2026
The Embedded Security market in the U.S. is estimated at US$1.6 Billion in the year 2022. The country currently accounts for a 33.7% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1 Billion in the year 2026 trailing a CAGR of 7.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR while Rest of European market (as defined in the study) will reach US$327.6 Million by the close of the analysis period. Developing regions including Asia-Pacific, Latin America and the Middle East are poised to exhibit faster growth in the consumption of embedded systems. Asia-Pacific is projected to be the fastest growing market for embedded systems. Industry 4.0, growing industrialization, and rising urbanization in countries such as China and India, coupled with the rising use of embedded systems across various industries, including energy, healthcare, and transportation, are contributing in fueling growth in the regional market.

Hardware Security Module Segment to Reach US$1.5 Billion by the year 2026
In the global Hardware Security Module segment, USA, Canada, Japan, China and Europe will drive the 6.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$802.9 Million will reach a projected size of US$1.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$199.4 Million by the year 2026. More

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