PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1643631
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1643631
The global embedded security market is projected to grow from USD 8.1 billion in 2024 to USD 12.9 billion by 2032, reflecting a compound annual growth rate (CAGR) of 5.9% during 2025-2032. This growth is fueled by the increasing number of cyber-attacks and security breaches in smart wearable devices, consumer electronics, and IoT devices. The rapid adoption of digital payments has further propelled market expansion, as these transactions require robust security measures to protect against hackers.
Key Insights
The integration of digital payment services into smartphones, smart wearables, and other devices has been a significant driver for the adoption of embedded security solutions. The convenience of cashless and contactless payments necessitates enhanced security measures to safeguard transactions.
The COVID-19 pandemic accelerated the shift toward cashless and contactless payments, emphasizing the need for stronger cybersecurity. Additionally, the rise in remote work environments has led to an increase in cyber-attacks, prompting organizations to implement stringent security protocols.
The Asia-Pacific region is expected to emerge as the largest and fastest-growing market for embedded security solutions. This growth is attributed to the rapid adoption of consumer electronics, increasing internet penetration, and the expansion of digital payment infrastructures in countries such as China and India.