Global Embedded Security Market

Embedded Security Market Size, Share, Growth Analysis, By Product(Secure elements, embedded SIMs, hardware security modules, and trusted platform modulesSegmentApplication Sub-SegmentsAutomotive), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45K2061 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 41 |Figures: 74

Embedded Security Market Insights

Embedded Security Market size was valued at USD 8.23 billion in 2022 and is poised to grow from USD 9.13 billion in 2023 to USD 18.83 billion by 2030, at a CAGR of 10.9% during the forecast period (2023-2030).

The global embedded security market is experiencing robust growth due to escalating concerns regarding cybersecurity.

With the proliferation of IoT devices and interconnected systems, the demand for secure solutions embedded within hardware is surging.

This market encompasses secure elements like hardware tokens and secure microcontrollers, addressing data protection and authentication needs across industries like finance, healthcare, and automotive.

As cyber threats evolve, embedded security's importance in safeguarding sensitive data and ensuring the integrity of connected devices is driving continuous innovation in encryption, authentication, and secure boot technologies.

US Embedded Security Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2023-2030

Global Market Size

USD 8.23 billion

Largest Segment

Automotive

Fastest Growth

Automotive

Growth Rate

10.9% CAGR

Global Embedded security market by region
Country Share for North America (%)

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Embedded Security Market Segmental Analysis

The global embedded security market can be segmented based on product type, application, and region. In terms of product type, it includes secure elements, embedded SIMs, hardware security modules, and trusted platform modules. Application-wise, it covers sectors like automotive, consumer electronics, healthcare, industrial, and more. Geographically, the market spans North America, Europe, Asia Pacific, Latin America, and MEA.

Embedded Security Market Analysis By Product

hardware security modules (hsms) and trusted platform modules (tpms) were among the largest segments. HSMs were widely used in industries requiring strong cryptographic protection, such as financial services and government sectors. TPMs were gaining traction in consumer devices, especially laptops and PCs, as they provide a secure foundation for various security features.

The IoT (Internet of Things) security segment was considered one of the fastest-growing areas within embedded security. With the proliferation of IoT devices across industries, the need for securing these devices became paramount. Secure elements and specialized security chips for IoT devices were gaining popularity due to their ability to provide robust protection for small, resource-constrained devices.

Embedded Security Market Analysis By Application

The largest segment within embedded security applications can vary based on market trends and developments. Historically, consumer electronics and automotive sectors have been among the largest due to the widespread adoption of smartphones, smart vehicles, and other connected devices.

The fastest-growing segment can also change with technological advancements and market shifts. The IoT and healthcare sectors have shown significant potential for growth due to the increasing integration of IoT devices in various industries and the need to secure healthcare data and medical devices.

Global Embedded security market by application, 2022 (%)

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Embedded Security Market Regional Insights

The largest markets for embedded security solutions are typically the regions with well-established technology industries and a high concentration of companies relying on embedded systems across various sectors. As of 2021, North America and Europe tend to be among the largest markets due to their technological maturity and industrial presence.

The fastest-growing markets for embedded security are often those regions where technological adoption is rapidly increasing, such as in emerging economies and regions heavily investing in digital transformation. Asia-Pacific, particularly China and India, were expected to experience rapid growth due to their expanding industrial bases, large populations, and rising demand for connected devices.

Global Embedded security market by geography, 2023-2030
  • Largest
  • Fastest

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Embedded Security Market Dynamics

Embedded Security Market Drivers

Growing Need to Monitor Cyber Attack

  • The growing threat of cyberattacks and data breaches is propelling the demand for embedded security solutions, as industries seek to protect sensitive information and ensure the integrity of connected devices, fostering market growth.

Embedded Security Market Restraints

High Cost

  • High implementation costs and complexities associated with integrating embedded security solutions into existing infrastructure hinder market expansion, challenging adoption particularly among smaller businesses with limited resources.

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Embedded Security Market Competitive Landscape

The global embedded security market boasts a competitive landscape characterized by a dynamic interplay among key players. Industry leaders such as Infineon Technologies, STMicroelectronics, NXP Semiconductors, and Renesas Electronics consistently drive innovation through advanced hardware-based security solutions. Newer entrants like Rambus and Microchip Technology challenge the status quo with novel encryption and authentication technologies. This landscape is further enriched by software security specialists like Cisco Systems and Symantec, providing holistic security ecosystems. As the demand for secure embedded systems intensifies across sectors like IoT, automotive, and finance, competition drives relentless advancements in safeguarding digital assets and ensuring the integrity of interconnected devices.

Embedded Security Market Top Player’s Company Profiles

  • Infineon Technologies AG - Germany
  • NXP Semiconductors - Netherlands
  • STMicroelectronics - Switzerland
  • Texas Instruments - United States
  • Renesas Electronics - Japan
  • Microchip Technology Inc. - United States
  • Gemalto (now Thales Digital Identity and Security) - Netherlands
  • Samsung Electronics - South Korea
  • Inside Secure (now Rambus) - France
  • Maxim Integrated - United States
  • On Semiconductor - United States
  • Nuvoton Technology - Taiwan
  • Silicon Laboratories - United States
  • Renova Technology (now part of JSE Group) - China
  • Cypress Semiconductor (now part of Infineon) - United States
  • Secure-IC - France
  • Ceva, Inc. - United States
  • ESCRYPT (Bosch subsidiary) - Germany
  • Trustonic - United Kingdom
  • Spyrus Inc. - United States

Embedded Security Market Recent Developments

  • In May 2022, STMicroelectronics, a provider of embedded and cyber security services and various semiconductor products for automotive and aerospace sectors, partnered with Microsoft Corporation.

Embedded Security Key Market Trends

  • In the rapidly evolving global embedded security market, several key developments have emerged. The integration of AI and machine learning into embedded security systems has enhanced threat detection and response capabilities. The proliferation of IoT devices has prompted the implementation of robust security measures, driving innovation in hardware-based security solutions. Blockchain technology is also being harnessed to ensure data integrity and secure transactions. Additionally, collaborations between hardware manufacturers and cybersecurity firms are on the rise, resulting in more comprehensive and adaptable security solutions. As the threat landscape evolves, the embedded security market continues to prioritize agility, intelligence, and collaboration to safeguard digital ecosystems.

Embedded Security Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, the global embedded security market is poised for significant growth, driven by escalating concerns over cybersecurity in connected devices and systems. As industries increasingly adopt IoT and smart technologies, the demand for robust embedded security solutions to safeguard sensitive data and prevent unauthorized access is set to surge. This market expansion will be fueled by innovations in hardware-based security modules, secure elements, and encryption techniques. With the proliferation of connected devices across sectors like automotive, healthcare, and industrial automation, the embedded security market is projected to flourish, presenting lucrative opportunities for companies offering advanced security solutions and services.

Report Metric Details
Market size value in 2022 USD 8.23 billion
Market size value in 2030 USD 18.83 billion
Growth Rate 10.9%
Base year 2023
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Secure elements, embedded SIMs, hardware security modules, and trusted platform modulesSegmentApplication Sub-SegmentsAutomotive, consumer electronics, healthcare, industrial, and more
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Infineon Technologies AG - Germany
  • NXP Semiconductors - Netherlands
  • STMicroelectronics - Switzerland
  • Texas Instruments - United States
  • Renesas Electronics - Japan
  • Microchip Technology Inc. - United States
  • Gemalto (now Thales Digital Identity and Security) - Netherlands
  • Samsung Electronics - South Korea
  • Inside Secure (now Rambus) - France
  • Maxim Integrated - United States
  • On Semiconductor - United States
  • Nuvoton Technology - Taiwan
  • Silicon Laboratories - United States
  • Renova Technology (now part of JSE Group) - China
  • Cypress Semiconductor (now part of Infineon) - United States
  • Secure-IC - France
  • Ceva, Inc. - United States
  • ESCRYPT (Bosch subsidiary) - Germany
  • Trustonic - United Kingdom
  • Spyrus Inc. - United States
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Embedded Security Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Embedded Security Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Embedded Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Embedded Security Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Embedded Security Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Embedded Security Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Embedded Security Market size was valued at USD 8.23 billion in 2022 and is poised to grow from USD 9.13 billion in 2023 to USD 18.83 billion by 2030, at a CAGR of 10.9% during the forecast period (2023-2030).

The embedded security market boasts a competitive landscape characterized by a dynamic interplay among key players. Industry leaders such as Infineon Technologies, STMicroelectronics, NXP Semiconductors, and Renesas Electronics consistently drive innovation through advanced hardware-based security solutions. Newer entrants like Rambus and Microchip Technology challenge the status quo with novel encryption and authentication technologies. This landscape is further enriched by software security specialists like Cisco Systems and Symantec, providing holistic security ecosystems. As the demand for secure embedded systems intensifies across sectors like IoT, automotive, and finance, competition drives relentless advancements in safeguarding digital assets and ensuring the integrity of interconnected devices. 'Infineon Technologies AG - Germany', 'NXP Semiconductors - Netherlands', 'STMicroelectronics - Switzerland', 'Texas Instruments - United States', 'Renesas Electronics - Japan', 'Microchip Technology Inc. - United States', 'Gemalto (now Thales Digital Identity and Security) - Netherlands', 'Samsung Electronics - South Korea', 'Inside Secure (now Rambus) - France', 'Maxim Integrated - United States', 'On Semiconductor - United States', 'Nuvoton Technology - Taiwan', 'Silicon Laboratories - United States', 'Renova Technology (now part of JSE Group) - China', 'Cypress Semiconductor (now part of Infineon) - United States', 'Secure-IC - France', 'Ceva, Inc. - United States', 'ESCRYPT (Bosch subsidiary) - Germany', 'Trustonic - United Kingdom', 'Spyrus Inc. - United States'

The growing threat of cyberattacks and data breaches is propelling the demand for embedded security solutions, as industries seek to protect sensitive information and ensure the integrity of connected devices, fostering market growth.

In the rapidly evolving embedded security market, several key developments have emerged. The integration of AI and machine learning into embedded security systems has enhanced threat detection and response capabilities. The proliferation of IoT devices has prompted the implementation of robust security measures, driving innovation in hardware-based security solutions. Blockchain technology is also being harnessed to ensure data integrity and secure transactions. Additionally, collaborations between hardware manufacturers and cybersecurity firms are on the rise, resulting in more comprehensive and adaptable security solutions. As the threat landscape evolves, the embedded security market continues to prioritize agility, intelligence, and collaboration to safeguard digital ecosystems.

The largest markets for embedded security solutions are typically the regions with well-established technology industries and a high concentration of companies relying on embedded systems across various sectors. As of 2021, North America and Europe tend to be among the largest markets due to their technological maturity and industrial presence.

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