Over the course of the forecast period, rising demand for embedded security in mobile devices and embedded security solutions for use in connected healthcare products and services is anticipated to propel market growth.
The market is anticipated to grow significantly during the forecast period as a result of a number of factors, including the adoption of embedded security systems for the next generation of autonomous machines and secure embedded IOT solutions.
Lack of compliance on the part of IoT manufacturers and integrators, as well as lack of user knowledge & awareness for embedded security, are primary factors that will challenge the adoption of embedded security in the global market during the forecast period.
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Increasing Applications of Embedded Security in Automobile Sector to Spur Market Growth
Embedded security is used in various applications in the automobile sector, such as body electronics, navigation systems, steering and braking systems, traffic control and powertrain and chassis control, and mobile and e-Com access applications.
Embedded security plays a significant role in robotics for increasing reliability and performance in some special situations, such as minimizing IOT threat risks and security posture assessment.
Moreover, embedded security solutions offer different features such as immobilizer systems, greater vehicle safety, guard sensors, component identification, telematics, infotainment systems, and higher automotive reliability for automotive industry applications, as such, boosting the growth of the embedded security market.
Embedded Security for Retail, Medical, and Critical Infrastructure to Propel Sales
Secure authentication and anti-counterfeit solutions are widely used for protecting consumers and system manufacturers. These also include various features for retail, medical, and critical infrastructure, such as convenient card handling, fully-integrated one-module solutions developed for standard high-volume card manufacturing with the highest security.
The demand for embedded security solutions is increasing for threat analysis and encryption, streamlined protection, and regulatory compliance applications.
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Side-channel Attacks on Embedded System Devices Boosting Demand for Embedded Security
Side-channel attacks extract processed data from a chip or a system, and use them to deduce sensitive information such as cryptographic keys, and messages, among others. An embedded security system implements multiple kinds of security in side channel analysis to identify potential embedded security threats.
It also implements security features for systems-engineering levels that are effective in preventing hackers from interacting with the software. Side-channel attacks can be varied for users, service providers, and manufacturers.
Embedded security solutions are capable of handling many functions, such as conducting end-to-end threat analysis, design and test for security, security testing, securing applications, and real-time computing data, which makes them ideal for use in a variety of applications. These factors are anticipated to contribute to the growth of the embedded security market in the coming years.
South Asia & Pacific Region to Offer Lucrative Growth Opportunities
The embedded security market is witnessing rapid growth in the South Asia & Pacific region, due to increasing adoption of mobile and connected devices.
Embedded security market providers are striving to expand their operations in India, ASEAN Countries, and Australia, to unlock new growth avenues, attributable to the growing demand for consumer electronics and vast expansion of electronic industries in these countries.
Embedded Security Market – Competition Landscape
Introduction of new products and collaborations & partnerships are key strategies followed by top players in the embedded security market to increase their business revenue. Embedded security manufacturers and service providers are focusing on innovation in products/services to improve their market positions.
Some leading players in the embedded security market are Advantech Co., Ltd., Infineon Technologies AG, NXP Semiconductors, Broadcom Inc., and Microchip Technology Inc., and Texas Instrument.
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Analysts’ Viewpoint
Over the last few years, manufacturers have been focusing secure embedded IOT solutions for simplifying the process of connecting embedded systems with cloud-based services, by reducing underlying hardware complexities.
This is creating significant growth opportunities for players in the embedded security market. Among other regions, North America is the most prominent region, and holds a market share of more than 30% in the global embedded security market.
Embedded Security Market: Segmentation
PMR’s report on the global embedded security market offers detailed market segmentation, wherein, key segments have been discussed in detail. This report by PMR carefully examines the embedded security market at a global as well as regional level, through market segmentation on the basis of multiple parameters such as component, application, industry, and region.
Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the report.
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