The embedded security market is anticipated to witness a considerable CAGR during the forecast period. Embedded security is used to protect the software and services running on embedded systems from the internal or external attack. The rising trend of IoT to seamlessly connect, interact, and exchange information between billions of digital devices, services, and other physical objects is creating the demand for embedded security. Cryptographic algorithms and hardware architecture for extremely low power memory and processing requirements trusted platform module, and standardized security protocol among others are the vital building blocks for the embedded security for the IoT devices. The key market players are engaged in launching new products to keep pace with respect to the market demand.
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For instance, in April 2020, Sectigo entered into a partnership with Infineon Technologies AG to provide automated certificate provisioning for Infineon’s OPTIGA Trusted Platform Module (TPM) 2.0 using Sectigo IoT Identity Manager. The IoT integration within devices work on data locally and offer to automate corrective responses and can be utilized to store data on the cloud for getting better business insights for better decision making. By utilizing IoT integration service, enterprises can track the activity on their personal devices, monitor data, and identify web activities which the workers in the enterprise are not authorized to do. To make an effective business decision with improved visibility and enhanced control over the workplace, the utility of workplace management solution is increasing thereby, driving the growth of the global embedded security market.
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Furthermore, the huge adoption of wearable devices in healthcare increases the demand for embedded security, which in turn is driving the market growth. Fitness trackers, sensors, smartwatches, and virtual reality and augmented reality headsets are the major wearables that make use of IoT in their functioning. IoT in medical devices involves interaction and synchronization between machine to machine and connectivity to a cloud platform through which data generated by devices is collected, stored and analyzed. The collected information is of critical nature which needs to be secured thus creating the need for embedded security, which in turn is driving the global embedded security market.
Global Embedded Security Market Segmentation
By Component Type
- Hardware
- Software and Service
By Application
- Authentication
- Payment
- Content Protection
- Others
By End-User
- Automotive
- Healthcare
- IT & Telecomm
- Aerospace & Defense
- Consumer Electronics
- Others
