Embedded Security Market Revenue will Hit USD 9.0 Billion by 2027

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MarketsandMarkets Presents

Embedded Security Market Revenue will Hit USD 9.0
Billion by 2027 Embedded Security Market by
Security type (authentication and access
management, payment and content protection),
Application, Offerings (hardware, software and
services) and Region (North America, Europe,
APAC, RoW) - Global Forecast to
2027 https//www.marketsandmarkets.com/Market-Rep
orts/embedded-security-market-63839062.html
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According to the new research report
the "Embedded Security Market by Security type
(authentication and access management, payment
and content protection), Application, Offerings
(hardware, software and services) and Region
(North America, Europe, APAC, RoW) - Global
Forecast to 2027", published by
MarketsandMarkets, the market size is projected
to grow from USD 6.8 billion in 2022 to USD 9.0
billion by 2027 it is expected to grow at a CAGR
of 5.9 from 2022 to 2027. The key factors
contributing to the growth of the embedded
security market include increasing use of
IoT-based applications, payments functionality in
wearables, increasing cyber threats. However, the
cost associated with hardware security modules is
hindering the growth of the embedded security
market. The impact of COVID-19 on the supply
chain and the global chip shortage possesses a
huge challenge to the industry. However, growing
demand for embedded security in electric and
semi-autonomous vehicles is the biggest
opportunity in the market space with APAC having
the highest market share and the highest CAGR for
the forecast period. Browse 151 market data
Tables and 47 Figures spread through 230 Pages
and in-depth TOC on "Embedded Security Market by
Security type (authentication and access
management, payment and content protection),
Application, Offerings (hardware, software and
services) and Region (North America, Europe,
APAC, RoW) - Global Forecast to 2027"
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Embedded Security Market for Wearables are likely
to register high CAGR during the forecast
period The market for wearables is growing at
the highest CAGR of 5.9 during the forecast
period. For effective communication, wearable
technology is increasingly being integrated with
management systems such as CRM and facial
recognition. Furthermore, businesses in the
manufacturing industry are using AR and VR
technology in training domains such as knowledge
transfer for front-line workers, which is
propelling the industrial wearables market
forward. Apart from that, the market is driven by
automation in manufacturing facilities and
improvements in technologies such as IoT, AI, and
the cloud. Investments in automation, the launch
of new and innovative products, and the rise of
wearable devices are providing a boost to the
market. Ask PDF Brochure https//www.marketsandm
arkets.com/pdfdownloadNew.asp?id63839062 Embedde
d Security Market in APAC exhibit the highest
CAGR during the forecast period The market based
on geography has been segmented into 4 main
regions North America, Europe, APAC, and RoW.
APAC is projected to grow at the highest CAGR of
7.0 during the forecast period. APAC includes
emerging countries such as China, Australia,
South Korea, and Hong Kong. The increasing
cyber-attacks and adoption of remote working are
driving the growth of the market in the APAC
region.
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Embedded Security Market for Payments to hold the
highest market share by the end of 2027 Payments
are expected to hold 43.3 of the market share by
2027. Payments security type provides secure
transaction of data between merchants and users.
Payments security provides secure transmission
through tokenization, encryption, fraud
detection, and prevention. In the year 2020, the
global transaction value of digital payments was
approximately 5 trillion dollars. The
advancements in technology and increasing use of
payments are expected to boost the market during
the forecast period. Request Free Sample
Pages https//www.marketsandmarkets.com/requestsa
mpleNew.asp?id63839062 Software segment is
projected to dominate the embedded security
market The software security market is expected
to hold the largest market share by 2027.
Software security secures any software from
malicious attacks preventing the virus to reach
its intended targets. Companies are using
software security to protect their devices from
cyber-attacks. The growing cyberattacks are
expected to boost the market during the forecast
period.
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The key players in this market are Infineon
(Germany), STMicroelectronics (Switzerland), NXP
(Netherlands), Qualcomm (US), Thales Group
(France), Microchip Technology (US), Samsung
(South Korea), Texas Instruments (US), IDEMIA
(France), Renesas (Japan). The players in this
market have adopted various strategies to expand
their global presence and increase their market
shares. COVID-19 Impact on the Global embedded
security market The COVID-19 pandemic has led to
the growth of the embedded security market. The
pandemic has impacted the market owing to remote
working due to the imposition of lockdowns across
the world. Remote working has led to an increase
in cyber-attacks which necessitates the use of
security devices to protect the devices from
getting attacked. This has increased the market
of embedded security devices. Key players are
focusing on maintaining and generating revenues
which have resulted in an increased number of
developments in the embedded security market in
2021. However, this impact of the pandemic is
expected to decline steadily during the
forecasted period
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