Embedded Security Market Size, Share, Industry, Forecast and outlook (2024-2031)

Market Overview :

The global embedded security market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of YY% during the forecast period (2024-2031).

Companies adopt embedded systems security as a design process, a practice and a commitment to reduce the threat exposure of the gadgets they create and the data they produce. The responsibility for embedded device security spans the entire lifecycle. A method for protecting embedded systems against cyberattacks is embedded systems security. Embedded systems, also called "embedded computers," are little machines that serve a specific purpose inside a larger system.

Embedded systems include things like Internet of Things (IoT) gadgets. For instance, several tasks are carried out by smart home gadgets like your thermostat, refrigerator and security alarm. It is nevertheless a part of the overall household system and is linked to one another via the Internet. As hostile actors attack these devices more frequently, embedded systems security tries to safeguard the software that runs on them.

Market Trends :

The adoption of IoT devices and expanding integrated security applications in the automotive industry are the main factors boosting the market growth. However, the expansion of the embedded security industry may be hampered by cyber threats and security breaches.

The growing applications in the automotive sector

Numerous automotive applications, including body electronics, navigation systems, steering & braking systems, traffic control, powertrain & chassis control and mobile and e-Com access apps, require embedded security. Embedded security is crucial for improving robot reliability and performance in some unique situations, such as reducing IOT attack concerns and security posture evaluation.

Additionally, for applications in the automotive industry, embedded security solutions provide various features like immobilizer systems, increased vehicle safety, guard sensors, component identification, telematics, infotainment systems and higher automotive reliability, which is what is driving the growth of the embedded security market.

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Market Segmentation :

By end-user, the embedded security market is segmented into automotive, healthcare, consumer electronics, telecommunications, aerospace & defense and others.The rising demand for electric vehicles drives the automotive segment

During the forecast period, the automotive segment is anticipated to dominate the market. With an increasing number of wireless technologies connecting it to the outside world, the car is quickly expanding into a significant component of the IoT. The market sales of linked automobiles will surpass conventional cars in the upcoming years. Although the advantages of increased connection are advantageous, it also creates a sea of opportunity for criminal hackers and online intruders to try to access the systems.

The number of automotive cybersecurity incidents increased by 99% between 2018 and 2019, according to Upstream Security's 2020 Global Automotive Cybersecurity info. Furthermore, the development of autonomous vehicles is facilitated by advanced driver-assistance systems (ADAS), pushing the automotive electronics sector to reach new heights of complexity, performance and safety.

Geographical Share :

The rising concerns about critical infrastructure in North America

Due to the highest number of IoT and smart project deployments, which greatly enhance the need for IoT security and the increasing acceptance of cloud-based technologies, North America accounts for a considerable share of the global embedded security market. A group known as U.S. Embedded Security Council (ESC) offers industry insights, best practices and instructional programs for embedded security solutions on various platforms.

Government intervention has recently expanded due to rising concerns about sensitive data and key infrastructure safety. Additionally, Timesys Corporation (one of the top suppliers of embedded, open-source software and security solutions) declared expanded functionality of Timesys Vigiles in April 2020, bringing new Software Composition Analysis (SCA) features and security vulnerabilities to urgent care and reduction tools for embedded system products.

Additionally, the prevalence of malware and ransomware-based cyberattacks has increased due to technological improvements, necessitating the purchase of cybersecurity solutions by businesses. The elements would promote embedded security usage during the forecasted period, boosting the expansion of the embedded security industry.

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Competitive Landscape

Major global embedded security market companies include Infineon Technologies AG, STMicroelectronics N.V., Texas Instruments Inc., McAfee, LLC, Microchip Technology Inc., Intellias Ltd., Karamba Security Ltd., Samsung Electronics Co., Idemia Group and Rambus Incorporated.

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