The global embedded security market is expected to grow at a compound annual growth rate of 6.84% over the forecast period to reach a market size of US$5.633 billion in 2026 from US$3.787 billion in 2020.
Embedded security is one of the common approaches that is used to protect software running on embedded systems from attack. Growing IoT applications is increasing the demand for IoT security and with the inclusion of payments functionality in wearables the embedded security market is expected to witness significant growth over the forecast period. Embedded security is considered an important component in advanced systems to prevent cyber-attack. Integration of embedded security in electric vehicles coupled with the growing adoption of smart city technologies is expected to be one of the drivers for the growth of the market in the coming years.
In addition, even today major IoT industry leaders believe that security concerns are one of the major barriers towards the adoption of IoT in various parts of the world and underlining the complexity that the major companies face in protecting their IoT deployments and data, as well as their existing communications networks embedded security solution is considered as one-stop for all end users.
Besides, the automotive cybersecurity market is gaining traction around the globe, and with the increasing number of connected cars, the industry is anticipated to witness significant growth over the forecast period. Also, the arrival of strict regulation that mandates vehicle data protection is expected to create new opportunities for manufacturers and service providers in the coming years. For instance, the Security and Privacy in Your (SPY) Car Act, legislation proposed in the US in 2015, aims to mandate that critical software systems in automotive vehicles are considered as a way to safeguard the vehicle from hacking by using cybersecurity measures. In addition to the government measures, the act, that is being developed by the National Highway Traffic Safety Administration (NHTSA) also regulates the information collected, transmitted, or shared by the vehicle by sharing the same with its owner thereby increasing the protection/security.
Recent deals and investments:
Regionally, the North American region is anticipated to hold a significant share in the market, and with the favorable government policies and investments, the embedded security market is anticipated to witness significant growth over the forecast period. For instance, the 2019 United States budget includes the US$15 billion budget for cybersecurity-related activities, and the airport and airway trust fund was allotted US$32.4 million emphasizing the research and development of advanced cybersecurity systems. Similarly, the new five-year budget of US$ 145 million by the Canadian government towards the country’s critical cyber systems in various industries is expected to further increase the demand for embedded security solutions in the region.
The major players profiled in the Global Embedded Security market include Infineon Technology AG, Advanced Card Systems Ltd., Precise Biometrics, McAfee Solutions, Gemalto NV, Texas Instruments Incorporated, Renesas Electronics Corporated, Microchip Technology, Inc., Symantec Corporation, and Microcomputer Applications, Inc. among others. The players in the global embedded security market are implementing various growth strategies to gain a competitive advantage over their competitors. Major market players in the market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last few years. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
|Market size value in 2020||US$3.787 billion|
|Market size value in 2026||US$5.633 billion|
|Growth Rate||CAGR of 6.84% from 2020 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Application, End User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Infineon Technology AG, Advanced Card Systems Ltd., Precise Biometrics, McAfee Solutions, Gemalto NV, Texas Instruments Incorporated, Renesas Electronics Corporation, Microchip Technology, Inc., Symantec Corporation, Microcomputer Applications, Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the embedded security market size by 2026?
A1. The global embedded security market is expected to reach a total market size of US$5.633 billion by 2026.
Q2. What is the size of the global embedded security market?
A2. Embedded Security Market was valued at US$3.787 billion in 2020.
Q3. What are the growth prospects for the embedded security market?
A3. The embedded security market is expected to grow at a CAGR of 6.84% during the forecast period.
Q4. What factors are anticipated to drive the embedded security market growth?
A4. Growing IoT applications is increasing the demand for IoT security and with the inclusion of payments functionality in wearables the embedded security market is expected to witness significant growth over the forecast period.
Q5. Which region holds the largest market share in the embedded security market?
A5. The North American region is anticipated to hold a significant share in the embedded security market.
Infineon Technology AG
Advanced Card Systems Ltd.
Texas Instruments Incorporated
Renesas Electronics Corporation
Microcomputer Applications, Inc.
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