PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1381641
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1381641
Global Embedded Security Market is valued at approximately USD 8.92 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.9% over the forecast period 2023-2030. Embedded security refers to the use of security technologies and procedures within embedded systems to guard against unauthorized access, manipulation, data breaches, and other online dangers. Embedded systems are specialized computers created for performing certain tasks inside a larger system or devices. The primary objectives of embedded security are to protect the availability, integrity, and confidentiality of embedded systems and the data they manage. The embedded system and its components are safeguarded throughout their existence using a combination of hardware- and software-based security techniques. Factors such as the inclusion of payment functionality in wearables, increasing government support for digitization, surging incidences of data breaches and cyberattacks, and growing demand for embedded security in electric and hybrid vehicles are bolstering the market demand in the global market. For instance, in December 2021, the Government of Australia invested USD 135.9 million under its program to transform the economy into a digital economy by 2030.
The increasing demand for security in connected devices is playing a vital role in bolstering the adoption of the embedded security market across the world. Embedded security solutions are used to protect these devices from cyberattacks. As per the Statista report, in 2019, it was estimated there were approximately 8.6 billion Internet of Things (IoT) connected devices were recorded globally, which is anticipated to rise to around 19.1 billion devices by 2025. Therefore, embedded security plays a critical role in securing IoT devices, protecting data transfers, ensuring device authentication, and maintaining the integrity and privacy of IoT ecosystems, which is augmenting the growth of the embedded security market. Moreover, the surge adoption of IoT, as well as the introduction of 5G and the development of 5G-enabled embedded devices present numerous lucrative opportunities over the anticipated period. However, the complexities involved in designing embedded systems and the high energy consumption associated with compact embedded systems are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Embedded Security Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the growing concerns for cybersecurity, as well as increasing adoption of embedded device security and critical infrastructure protection devices in the aerospace & defense sector and automotive industry. Whereas, North America is expected to grow at a considerable CAGR over the forecasting years. The high adoption of IoT and connected devices, advancements in hardware and software technologies, and increased awareness and adoption of security by design are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable