Global in-vehicle security market poised to reach US$10 billion

LONDON, June 02, 2022 (GLOBE NEWSWIRE) — The Internet of Things (IoT) is one of the most exciting advancements in technology, as it opens up new avenues for innovation, collaboration and growth. From everyday gadgets to space technology, the IoT has immense value for virtually every aspect of modern life. However, with new developments in the cyberattack landscape, coupled with increasing volumes of data exchange between devices, the risks of exploits and attacks in IoT-enabled systems have increased significantly over the past few years. Therefore, embedded security is now essential to mitigate business risks and protect embedded devices from malicious access or manipulation. The ever-increasing demand for embedded security translates into extremely fruitful results for the global embedded security market.

Fairfield Market Research finds that the global embedded security market expected to reach a valuation of US$10 billion by 2026, registering a robust CAGR of 8.1% over the forecast period. Between 2019 and 2026, the leading manufacturers in the global embedded security market are poised to pursue new partnerships, strategic projects and rigorous innovation.

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Highlights and Key Trends of the Global Embedded Security Market

  • With a market share of US$1,898.0 million, North America held the largest market share in the global integrated security market in 2019. The region is expected to register a solid CAGR of 7.1% by 2026.
  • Advancements in the automotive industry, particularly in the area of ​​electric mobility, are expected to increase the adoption of IoT and, therefore, increase the demand for in-vehicle security technologies.
  • Steady rise in the adoption of smart wearable devices is expected to positively influence the global embedded security market owing to concerns over data security and identity theft.

The Need for Security in Connected Devices Drives the Adoption of Embedded Security Solutions

Today, multiple devices run on connected systems and networks, increasing the risk of security breaches. This widespread prevalence of connected devices is expected to create favorable demand for integrated security solutions. Additionally, the use of wearable technology is also at an all-time high. With the spread of a well-integrated ecosystem of connected devices such as smartphones, virtual assistants, and smart wearables, consumers and enterprises are adopting integrated security solutions to defend against new security threats. These factors have created promising opportunities for the global integrated security market as more and more consumers and organizations are driven towards advanced security solutions. In 2019, in terms of application, payment processing and card had the largest market share with 28.9%, followed by smart ID cards (27.4%), smartphones (11.5% ), industrial systems (7.7%) and portable devices (7.1%). .

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High deployment of IoT positions North America as a regional leader

North America is emerging as the biggest player in the global integrated security market. This dominance can be attributed to the high degree of adoption of IoT, the presence of large manufacturers, the increase in the adoption of electric vehicles and a good awareness of cybersecurity solutions. In the coming years, APAC countries are expected to have a positive impact on the global integrated security market, mainly due to concerns regarding cyber security and innovative developments in the IT sector.

Some of the key players in the global embedded security market include Google, Thales Group, Adobe, Zoom, Cisco, Microsoft Corporation, IDEMIA, Renesas, Qualcomm, Microchip Technology, and Samsung, among others.

REPORT SCOPE AND SEGMENTATION:

REPORT FEATURES DETAILS
Bid coverage
Security Type Coverage
  • Authentication and access management
  • Payment
  • Content protection
Application coverage
  • Wearables
  • smartphones
  • Automotive
  • Smart ID Cards
  • Industrial
  • Payment processing and card
  • Others
Geographic coverage
  • North America
  • Europe
  • Asia Pacific
  • Rest of the world (right-of-way)
Leading companies
  • Infineon
  • STMicroelectronics
  • NXP
  • Qualcomm
  • Thales Group
  • Microchip technology
  • Samsung
  • Texas Instruments
  • IDEMIA
  • Renesas
Report Highlights Market estimates and forecasts, market dynamics, industry trends, competition landscape, products, applications, regions, country trends and analysis, COVID-19 impact analysis, key trends

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