Global Embedded Security Market Report and Forecast 2024-2032

Global Embedded Security Market Outlook

The global embedded security market size reached a value of USD 7.16 billion in 2023. During the forecast period of between 2024 and 2032, the market is expected to grow at a CAGR of 6.00% to reach a value of around USD 12.08 billion by 2032.

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Key Trends in the Market

Embedded security is the security system used to protect hardware components as well as software on specific devices, particularly embedded systems. Device and product producers can secure their products from cyberthreats with the use of embedded security solutions. Embedded security plays a vital role in robotics by improving reliability and performance and reducing IoT attack risks.

• Side-channel attacks exploit processed data that has been extracted from a chip or a system to infer private data, including messages and cryptographic keys. An embedded security system employs a variety of security techniques inside channel analysis to find potential embedded security threats. Embedded security solutions are well suited for usage in a wide range of applications as they can perform a wide range of tasks, including end-to-end threat analysis, securing applications, design and test for security, security testing, and real-time computing. In the upcoming years, it is projected that these factors would help the embedded security market flourish.

• The market is driven by an increase in embedded security requirements brought on by the heightened deployment of wearable technologies in healthcare. Machine-to-Machine (M2M) authentication, which is strong, scalable, and reasonably priced, is becoming more and more necessary as medical wearable technology rapidly grows in applications and volume.

• Over the course of the forecast, IoT deployment will increase. Digitally interconnected and prevalent in many facets of modern life, including homes, workplaces, and automobiles, IoT-integrated gadgets are now found everywhere. However, a significant problem with IoT is that it creates large volumes of data, leaving devices open to attack by hackers. Attacks on industrial machine-to-machine networks have brought to light a number of risks associated with cyber-attacks, including brand devaluation, operational disruptions, and damage to customer relationships. During the forecast period, the need for embedded security will increase as more devices are connected to the IoT.

Global Embedded Security Market Analysis

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Based on type, the market is segmented into hardware, software, and service. By application, the market is divided into payment, authentication, and content protection, among others. The market on the basis of end-use is segmented into automotive, healthcare, consumer electronics, telecommunications, and aerospace and defence, among others. The regional markets for embedded security can be divided into North America, Europe, Asia Pacific, Latin America, and  Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global embedded security market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

• NXP Semiconductors NV

• Infineon Technologies AG

• Microchip Technology Inc.

• STMicroelectronics

• Thales Group

• Samsung Electronics Co., Ltd.

• Others

Market Share by End-Use

The demand for embedded security is anticipated to rise at a fast rate in the automotive sector between 2024 and 2032, driven by growth of the electric vehicles segment. The automotive industry is heavily reliant on technology and software. In the automotive industry, embedded security solutions provide increased safety of vehicles, immobiliser systems, infotainment systems, guard sensors, component identification, telematics, and higher automotive reliability.

Security is increasingly important in connected automobile systems, including sensors, car access systems, secure gateways, powertrains, and chassis, particularly as connected car sales expand, and autonomous driving receives more attention. As security risks increase, deeper software integration with automobiles is necessary to protect them from illegal access and systems and software manipulation, which will improve the embedded security market expansion in the forecast period. 

Market Share by Region

Asia Pacific holds one of the largest embedded security market shares globally. Stronger IT security is imperative given the expanding ability of the IoT to connect devices together. India, China, Japan, and Singapore are poised to become important markets in the Asia Pacific region due to their thriving IT industries and significant national commitments to enhancing their own cybersecurity systems. The increased production of automobiles and smartphones is another factor contributing to the regional growth. 

Advancements in technology have increased the tendency of cyberattacks using malware and ransomware, requiring organisations to acquire cybersecurity solutions. During the forecast period, these factors would encourage the adoption of embedded security throughout the region, supporting the growth of the embedded security market. 

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Competitive Landscape

NXP Semiconductors NV, headquartered in the Netherlands, uses innovation to create a world that is smarter, safer, and more environmentally friendly. As an industry leader in providing secure connectivity solutions for embedded applications, NXP is making strides in the sectors for automotive, industrial, Internet of Things (IoT), wireless, and communication infrastructure.

Infineon Technologies AG, a provider of semiconductor solutions, was established in 1999 and has its corporate headquarters in Germany. The company is involved in the development, production, and marketing of application-specific integrated circuits (ICs), evaluation boards, automotive system ICs, and diodes. Through its subsidiaries the company offers products that protect against electrostatic discharge and electromagnetic interference. 

Microchip Technology Inc., founded in 1989 and headquartered in Arizona in the United States, is a leading supplier of connected, smart, and secure embedded control solutions. With its user-friendly development tools and wide range of products, customers can produce ideal designs that lower risk while decreasing total system cost and time to market. The company's products are used by more than 125,000 clients in the industrial, consumer, automotive, aerospace and defence, communications, and computing sectors.

Other market players include STMicroelectronics, Thales Group, and Samsung Electronics Co., Ltd., among others.

Key Highlights of the Report