“The overall embedded security market is expected to grow at a CAGR of 5.9%”
The overall embedded security market is expected to be valued at USD 5.47 billion by 2023, growing at a CAGR of 5.9% between 2017 and 2023. The major factors driving the growth of the embedded security market include growing IoT applications increasing the need for IoT security, inclusion of embedded security in wearables, and government agencies promoting digitization. Factors such as integration of embedded security in electric vehicles and need for integrated security solution for IIoT would offer great opportunities for the growth of the embedded security market.
“The embedded security market for secure element and embedded SIM to hold the largest share during the forecast period”
The embedded security market for the secure element and embedded SIM is expected to account for the largest share by 2023, as secure element and embedded SIM finds its applications in a number of products such as smartphones, tablets, payments cards, and e-government documents. Payment cards and E-government expected to drive the growth of embedded security market for secure element and embedded SIM.
“Wearables is expected to grow at the highest CAGR during the forecast period”
The embedded security market for wearables based on the application is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the fact that IoT is promoting a new era for payments companies and manufacturers to use wearables. The rapid expansion of the Internet of Things (IoT) offers an opportunity to facilitate payments into wearables, which, in turn, would boost the demand for embedded security in wearables.
“APAC holds largest share of the embedded security market”
Asia Pacific (APAC) is the largest market for embedded security because of China, which is a huge manufacturing hub for applications such as automotive and smartphones; these applications comprise a major share of the embedded security market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the embedded security market. Following is the break-up of primary participants for the report:
- By Company Type: Tier 1 – 55%, Tier 2 – 30%, and Tier 3 – 15%
- By Designation: C-Level Executives – 50%, Directors – 25%, and Others – 25%
- By Region: North America – 35%, Europe – 25%, APAC – 30%, and RoW – 10%
The report also profiles the key players in this market. The prominent players profiled in this report are Infineon (Germany), STMicroelectronics (Switzerland), NXP (Netherlands), Gemalto (Netherlands), Microchip (US), Samsung (South Korea), Texas Instruments (US), IDEMIA (France), Renesas Electronics Corporation (Japan), and Inside Secure (France).
This research report categorizes the overall embedded security market based on product, security type, application, and geography. The report describes major drivers, restraints, challenges, and opportunities pertaining to the market as well as provides value chain analysis.
Reasons To Buy the Report:
The report would help leaders/new entrants in the embedded security market in the following ways:
- This report segments the embedded security market comprehensively and provides the closest market size estimation for subsegments across different regions.
- The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities for market growth.
- This report would help stakeholders understand their competitors better and gain insights to improve their position in the business.
- The competitive landscape section includes the information on the competitors’ ecosystem, product launches, acquisitions, partnerships, agreements, contracts, and collaborations.