Embedded Security Product Market, Size, Share, Growth, and Industry Analysis, By Type (Secure Element and Embedded SIM and Trusted Platform Module), By Application (Mobile Secure Transactions, Authentication, Smart Cards and Others), Regional Insights, and Forecast From 2024 To 2032

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EMBEDDED SECURITY PRODUCT MARKET REPORT OVERVIEW

The global embedded security product market size was USD 3.32 billion in 2023 and is projected to grow from USD 3.32 billion in 2024 to USD 4.27 billion by 2032, exhibiting a CAGR of 3.2% during the forecast period. Asia-Pacific holds leading position in embedded security product market share in 2023.

Device and product producers can secure their creations from cyberthreats with the use of embedded security solutions. A multi-layer security method is used in defence to line up security-based product differentiation. When a piece of technology is mission-critical, it must function flawlessly, predictably, and without fail. It also cannot permit the compromise of data or security on the end-user system. The goal of embedded system security is to strategically defend against serious attacks to the software that runs on top of embedded devices. An embedded system is made up of software and programmable hardware that is integrated with an operating system. They are designed to operate as a dedicated function or a collection of functions.

COVID-19 Impact: Rising Cyber Attacks During the Pandemic to Promote Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with embedded security product market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 outbreak presents the embedded security product business with a significant growth opportunity over the coming years. In order to stop the new coronavirus from spreading through touch, a lockdown is being seen in several locations around the world. Many workers, especially in the IT industry, now work from home as a result of this. When working from home, strong security is required in many aspects. Due to privileged users' restricted access to vital IT infrastructure, employees' use of collaboration tools, and other factors, cybersecurity dangers are now front and centre. This environment is ideal for hackers to launch cyberattacks. Covid-19's effect on the market is limiting expansion. Due to the cessation of industrial activities, which also resulted in a decrease in the need for integration services and sales of new embedded security interfaces products, the embedded security hardware industry has seen a major reduction in sales.

LATEST TRENDS

"Expansion of IoT Applications to Augment Market Growth"

IoT security is increasingly necessary as IoT applications expand, driving the industry. The Internet of Things (IoT) will be composed of billions of digital products, services, and other tangible items with the ability to connect, communicate, and share information in real-time. In order to enable a number of present and future applications, security for IoT will be a crucial issue that needs to be solved. Cryptographic algorithms, hardware architecture for extremely low power memory and processing requirements, Trusted Platform module, and Standardized Security Protocol are essential building blocks for embedded security for IoT.

EMBEDDED SECURITY PRODUCT MARKET SEGMENTATION

• By Type

Based on type; the market is divided into secure element andembedded sim and trusted platform module.

In terms of product, embedded sim is the largest segment.

• By Application

Based on application; the market is divided intomobile secure transactions, authentication, smart cards and others.

In terms of application, mobile secure transactions is the largest segment.

DRIVING FACTORS

"Rise in Demand for Embedded Security to Propel Market Growth"

The market is driven by a rise in demand for embedded security product brought on by the use of wearable technology in healthcare. The healthcare industry is seeing a growing impact from wearable technology. Machine-to-Machine (M2M) authentication, which is needed more and more as medical wearable technology expands in applications and volume, is a strong, scalable, and affordable method of device-to-device authentication. In the context of the European project INSTET, Intrinsic-ID and Maastricht Instruments are collaborating to enhance advanced security to the medical wearable devices with SRAM Physical Unclonable Function (PUF). An important step toward less expensive and more effective security can be an embedded SRAM PUF in the MCU.

"S32G Processor to Enhance Market Expansion"

Due to its enterprise-class networking capabilities, the S32G serves as a gateway processor for connected automobiles. Additionally, it makes it possible for the newest data-intensive ADAS systems while giving cars secure communication skills. S32G is already being tested by auto OEMs, and this new processor has already begun sampling. The S32G processor's special blend of networking, performance, and safety characteristics was also cited by the Audi director as being appropriate for usage in their next ADAS domain controller in Audi. With an increasing number of wireless technologies connecting, it to the outside world, the car is quickly expanding into a significant component of the IoT. Integrating an embedded firewall, safeguarding communications, authenticating communications, and encrypting data to help protect privacy are all important components of effective vehicle security. These factors sare anticipated to drive embedded security product market growth.

RESTRAINING FACTORS

"Shortage in Supply of Semiconductors to Constraint Market Growth"

Embedded security product contains a lot of semiconductors. The "trade war" between the United States and China caused a disruption in the global supply chain. The two nations-imposed tariffs and limitations on one another, disrupting supply and demand. Multiple industries have been disrupted by supply chain interruptions, which has led to a scarcity of semiconductors. The supply chain for semiconductors was also severely damaged by the COVID-19 outbreak. The development of embedded security product market has been impeded by supply delays brought on by the aforementioned issues.

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EMBEDDED SECURITY PRODUCT MARKET REGIONAL INSIGHTS

"North America to Dominate the Market Due to Competition Among Market Players"

Geographically speaking, this market is extensive in North America and holds largest portion of embedded security product market share. The region is further divided into groups based on the countries that bring in trade. Due to the presence of both major and significant competitors in the region, North America has emerged as the region with the highest revenue generation in the automotive cybersecurity market. This will likely contribute to this region's continued market dominance in the near future, along with the introduction of creative upgrades in the automobile industry by significant corporations in countries.

KEY INDUSTRY PLAYERS

"Tough Rivalry Among Market Players to Boost Market Growth"

The automotive electronics sector is being pushed to reach new heights of complexity, performance, and safety by the advanced driver-assistance systems (ADAS) that are making today's cars safer and facilitating the development of autonomous vehicles and embedded security products. This thorough research provides a thorough analysis of the market. The major market participants are listed in this section of the study. This section explains how market participants cooperate and employ strategies to combat competition. The reader will be able to recognise the footprints and manufacturers by looking at the global revenue of all manufacturers for the forecast period. This Advanced research offers a thorough analysis of the market, including development patterns, planned aspects, expanding prospects, risks/challenges, and landscape investigation. It also addresses the factors that have led to new market entrants in light of the adjustments made in this industry.

List Of Top Embedded Security Product Companies

• NXP Semiconductors (Netherlands)
• Infineon (Germany)
• STMicroelectronics (Switzerland)
• Gemalto (Netherlands)
• IDEMIA (France)
• Microchip (U.S.)
• Huada Semiconductor Co., Ltd. (China)
• Maxim Integrated (U.S.)
• Renesas Electronics Corporation. (Japan)
• Samsung (Korea)

KEY INDUSTRY DEVELOPMENT

March, 2020: Automotive Grade Linux (AGL), a collaborative cross-industry effort developing an open-source platform for connected car technologies, announces three new members: MERA, Mocana, and Osaka NDS. They planned to design plug-n-play solutions that integrate with the AGL platform to enable scalable, end-to-end security, to protect any AGL-based systems on-board connected or autonomous vehicles.

REPORT COVERAGE

The embedded security product market research report provides insights and analysis into the key factors that will dominate during the anticipated time and their effects on market growth. The study is a valuable tool for companies and anybody with an interest in the industry as it provides crucial information on the market position for producers of commodity chemicals. The research begins by providing an overview of the industry's definition, applications, and production processes. The article then goes into great detail regarding the leading players in the worldwide industry. The market share and business information for each company are included in the research in this section.