The embedded security market size is valued at USD 6.8 billion in 2022 and is anticipated to be USD 9.0 billion by 2027; growing at a CAGR of 5.9% from 2022 to 2027.
Factors such as the growing demand for Internet of Things (IoT) applications and the inclusion of payments functionality in wearables devices are driving the growth of the market during the forecast period.
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APAC is the largest market for the embedded security market. Many of the region's emerging economies, including India, China, Singapore, and Japan, are dealing with growing cybersecurity concerns. In terms of overall DNS hijackings, India ranks fifth in the globe, with tremendous growth in cybercrime registrations. Furthermore, according to Gemalto, India is responsible for 37% of global data breaches in terms of stolen or compromised data. Security is a major concern in the APAC region, which contains highly sensitive data and billions of devices connected to loT. The APAC cybersecurity market is expected to grow significantly as a result of the recent outbreak of COVID-19, as there is an increasing trend of cyber-attacks via malware and ransomware in the context of COVID-19, forcing organizations to adopt cybersecurity solutions as many have shifted to remote work environments amid lockdown in various countries. According to Microsoft. between February and May 2020, 19 million ransomware and phishing attacks were identified in Asia.
Key Players:
Infineon (Germany), STMicroelectronics (Switzerland), NXP (Netherlands), Qualcomm(US), Thales Group(France), Microchip Technology (US), Samsung (South Korea), Texas Instruments (US), IDEMIA (France), Renesas (Japan).
Many innovations in the automobile sector are currently dependent on software and electronics, and IT is likely to contribute to a large percentage of the production cost. The EV market is expanding rapidly because it offers advantages over other types of vehicles. However, from the standpoint of charging infrastructure, EV charging is considerably more than a one-step, plug-and-go procedure. To ensure that every EV on the grid receives the necessary quantity of energy and electrical flow, a significant amount of communication must take place between the car, the charging point, and the utility supplier. Financial transactions and personal data should be managed responsibly and securely in some circumstances, particularly where remote EV charging is given for a fee.
Semiconductors are a major component of embedded systems. The global supply chain was disrupted as a result of the 'trade war' between the United States and China. Tariffs and restrictions were placed by the two countries on each other, causing demand and supply disruptions. Supply chain disruptions have impacted multiple industries, resulting in a semiconductor shortage. The COVID-19 outbreak also wreaked havoc on the semiconductor supply chain. China is a major supplier of semiconductors; delays in supply due to the aforementioned factors have hampered the development of embedded systems.
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