Exploring the Embedded Security Market and Its Growing Significance

Wearable technology is evolving and developing, with everything from clothing to smart glasses to jewelry to virtual reality (VR) tools (such as the Oculus Rift) being a part of it. Smart wearable technology is being employed in a variety of applications, including fitness tracking, navigation, and health monitoring.

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.

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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.

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.