Embedded Security Market Is Expected To Reach around USD 9.8 Billion by 2028, Gr

1. MarketsandMarkets Presents Embedded Security Market Is Expected To Reach around USD 9.8 Billion by 2028, Grow at a CAGR Of 5.7% from 2023 to 2028 Embedded Security Market by Offering (Hardware (Secure Element, Embedded Sim, Hardware Token), Software, Services), Security Type (Authentication and Access Management, Payment, Content Protection), Application and Region - Global Forecast to 2028 https://www.marketsandmarkets.com/Market-Reports/embedded-security-market-63839062.html

2. The embedded security market size has been estimated to be valued at USD 7.4 Billion in 2023 and is projected to reach USD 9.8 Billion by 2028, growing at a CAGR of 5.7% from 2023 to 2028.  The growth of the embedded security market is attributed to several key factors. Firstly, the increased connectivity of devices and gadgets to the Internet, known as IoT, makes them vulnerable to cyberattacks. Security tools integrated into these devices play a role in safeguarding them from such attacks. Secondly, the use of advanced AI, specifically generative AI, to create malicious content that can harm devices is on the rise. Security tools are effective in detecting and preventing these harmful actions.  Browse 150 market data Tables and 60 Figures spread through 230 Pages and in-depth TOC on "Embedded Security Market - Global Forecast to 2028”

3. Based on security type, payment segment likely to dominate the overall embedded security market between 2023 and 2028 The prevalence of embedded security in payment applications can be attributed to several pivotal factors. Firstly, it safeguards sensitive data like credit card details and bank account numbers, shielding them from unauthorized access, usage, or exposure. Additionally, it acts as a bulwark against fraudulent activities by verifying the legitimacy of payment initiators through techniques like biometric authentication, device fingerprinting, and transaction scrutiny. Moreover, embedded security aids businesses in adhering to the escalating global governmental regulations concerning payment application security. Lastly, it plays a crucial role in bolstering customer assurance, addressing the mounting apprehensions around payment data security and ensuring that users feel their information is well-protected. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=63839062 Hardware segment likely to account for largest market share for embedded security market from 2023 to 2028 Hardware-embedded security is essential to protect sensitive data in a variety of applications. As the number of connected devices and the amount of sensitive data continues to grow, the need for hardware-embedded security will only become more critical. The most commonly used hardware security are secure elements, embedded SIM, trusted platform modules, hardware security modules, and hardware tokens. A secure element is a tamper-resistant microchip that is used to store cryptographic keys and perform cryptographic operations. Secure elements are often used in payment cards, mobile devices, and other IoT devices to protect sensitive data. An embedded SIM (eSIM) is a digital SIM card that is embedded in a device. eSIMs are becoming increasingly popular as they offer a more secure and convenient way to manage cellular connectivity.

4. Smart Identity Cards application segment to witness the largest market share in the overall embedded security market during the forecast period The widespread adoption of embedded security in smart identity card applications can be attributed to several key factors. Firstly, the increasing popularity of smart identity cards for verifying individuals’ identities, driven by the growing need for secure identification in areas such as e-government services, border control, and access management. Secondly, the advancing sophistication of cyberattacks that traditional security measures struggle to counter, making embedded security essential for protecting smart identity cards from these evolving threats. Additionally, the rising regulatory emphasis on the security of smart identity cards worldwide necessitates the integration of embedded security to ensure compliance. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=63839062 APAC to lead the embedded security market between 2023 and 2028 A combination of influential factors is propelling the embedded security market in the Asia Pacific region. There's a significant surge in the adoption of embedded security in various end-use applications, including IoT devices, automotive systems, and wearables. This is due to the increasing recognition of embedded security's crucial role in safeguarding sensitive data and ensuring the integrity of these interconnected technologies. Additionally, the growing prevalence of cyber threats and sophisticated attacks in the region necessitates more robust security measures, leading to an increased demand for embedded security solutions. Moreover, regulatory requirements and standards set by governments are compelling businesses to implement powerful security mechanisms, thus driving the market forward. The rise in digital transformation initiatives and the proliferation of online transactions further emphasize the importance of embedded security, boosting its market growth.

5. Opportunity: Introduction of 5G and development of 5G-enabled embedded devices The advent of 5G technology is expected to serve as an opportunity for growth of the market for embedded security systems. The GSM Association (GSMA) estimates that by 2034, the 5G sector will have contributed USD 2.2 trillion to the global economy, accounting for 5.3% of the global GDP growth. As a result, the production of embedded devices based on 5G architecture is expected to grow in the future. Embedded devices used in automotive smart camera surveillance systems deliver faster response rates due to the integration of 5G in their design. Additionally, 5G technology is expected to help address the challenges faced during industrial automation and smart farming as it enables faster image processing. Therefore, embedded devices that support 5G infrastructure are expected to further the market growth. Challenge: Complexities involved in designing embedded systems While some embedded systems are quite simple, they are gradually becoming complex, and an increasing number of them can either replace human decision-making or provide capabilities beyond what a human can deliver. For example, some aviation systems, such as those used in drones, can integrate sensor data and act on it faster than a human, allowing for new types of operating characteristics. Designing of such applications that offer so many features poses a challenge that can reduce the effectiveness of an embedded system.

6. Embedded Security Market Ecosystem An embedded security system is a set of computer hardware, software, firmware, and operating system designed to perform a specific function. These systems may be configurable or fixed to perform certain tasks. Embedded systems can be found in industrial machinery, consumer electronics, agricultural and processing equipment, automobiles, medical equipment, cameras, smartwatches, household items, aircraft, commercial equipment, toys, and mobile devices. Key players in embedded security system ecosystem includes Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies, Inc., Texas Instruments Incorporated, STMicroelectronics, Thales Group, Samsung, Broadcom, Cisco, Rambus, IBM, Microchip Technology, Inc., . IDEMIA, and Renesas.

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