Product Code: BWC23348
Global Embedded Security for IoT Market Size More Than Doubles to Reach USD 10 Billion by 2029.
Global embedded security for IoT market is flourishing because of increasing incidents of cyberattacks and data breaches, a spurring demand for secure and reliable data communication between IoT devices, and growing adoption of IoT devices across industries.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global embedded security for IoT market size at USD 4.82 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global embedded security for IoT market size to grow at a significant CAGR of 10.97% reaching a value of USD 9.94 billion by 2029. Major growth drivers for global embedded security for IoT market include increasing adoption of industry guidelines for embedded hardware solutions, proliferation of connected devices through IoT networks, integration of embedded security in electric vehicles, and surging demand for integrated security solutions for IoT. Also, the deepening internet penetration rate has led to a growing demand for increased security for legacy systems, and government agencies are promoting digitization. Hence, such aspects are expected to boost the expansion of global embedded security for IOT market during the period in analysis. However, high costs associated with implementing embedded security solutions and complexity in integrating security solutions into existing IoT devices and systems are anticipated to restrain the overall market during the forecast period.
Global Embedded Security for IoT Market - Overview:
Embedded security for IoT refers to the set of technologies, protocols, and techniques used to protect the confidentiality, integrity, and availability of data transmitted or processed by embedded devices connected to the Internet of Things (IoT) network. It involves implementing security measures within the hardware and software components of the devices to mitigate potential threats, such as unauthorized access, data breaches, and malware attacks. Embedded security for IoT includes features such as secure boot, secure firmware updates, secure communication protocols, and encryption, among others, to ensure the security of the devices and the data they handle.
Impact of COVID-19 on Global Embedded Security for IoT Market
COVID-19 had a detrimental impact on the global embedded security for IoT market. While the pandemic accelerated the adoption of IoT devices across various industries, it also brought some challenges to the market. One of the main impacts of the pandemic on the embedded security for IoT market was the disruption to the global supply chain. The lockdowns and restrictions on international travel and trade affected the production and delivery of IoT devices, including those with embedded security features. Moreover, with the increasing number of people working from home due to the pandemic, the demand for secure and dependable IoT devices rose, creating new opportunities for the embedded security for IoT market. Many companies were forced to adapt to remote working conditions and turned to IoT devices to enhance their productivity and connectivity. The pandemic also increased the risk of cyberattacks, particularly on IoT devices that are not adequately secured. It led to an increased demand for embedded security solutions to protect IoT devices from cyber threats. However, the economic uncertainty caused by the pandemic led to budget constraints for many organizations, which impacted their ability to invest in new IoT devices with embedded security features.
Global Embedded Security for IoT Market - By Component
By component, global embedded security for IoT market is bifurcated into Software and Controller Chip segments. The controller chip segment holds a higher share in the global embedded security for IoT market, as it is an essential component of an IoT device that is responsible for managing and controlling the device's operations. The controller chip incorporates various security features, such as encryption, authentication, and access control, which are necessary to ensure the device's security and privacy. As a result, the demand for controller chips with advanced security features increased, driving the growth of the embedded security for IoT market. Additionally, the rising number of IoT devices across various industries, such as healthcare, automotive, and manufacturing, has also contributed to the dominance of the controller chip segment in the market.
Competitive Landscape:
Major players operating in global embedded security for IoT market include: NXP Semiconductors, STMicroelectronics, Infineon Technologies AG, Texas Instruments, Renesas Electronics, Microchip Technology Inc., Qualcomm Technologies, Inc., Gemalto (Thales Group), IDEMIA, Cisco Systems, Inc., Intel Corporation, ARM Holdings, Synopsys, Inc., Trustonic Limited, On Semiconductor Corporation, Cypress Semiconductor Corporation, Silex Technology America, Inc., and Thales e-Security, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Embedded Security for IoT Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Embedded Security for IoT Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. Global Embedded Security for IoT Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing adoption of IoT devices across various industries
- 3.2.1.2. Increasing demand for secure and reliable data communication between IoT devices
- 3.2.1.3. Rising incidents of cyber-attacks and data breaches.
- 3.2.2. Restraints
- 3.2.2.1. High costs associated with implementing embedded security solutions
- 3.2.2.2. Complexity in integrating security solutions into existing IoT devices and systems.
- 3.2.3. Opportunities
- 3.2.3.1. Advancements in encryption technologies and cloud-based security solutions.
- 3.2.3.2. Growing demand for secure and private data communication in healthcare and financial services sectors.
- 3.2.4. Challenges
- 3.2.4.1. Limited standardization of security protocols for IoT devices and systems.
- 3.2.4.2. Increasing complexity and diversity of IoT devices and systems.
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. Global Embedded Security for IoT Market Overview
- 4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Billion)
- 4.2. Market Share and Forecast
- 4.2.1. By Component
- 4.2.1.1. Software
- 4.2.1.2. Controller Chip
- 4.2.2. By Vertical
- 4.2.2.1. Retail
- 4.2.2.2. Aerospace & Defense
- 4.2.2.3. Healthcare
- 4.2.2.4. Gaming
- 4.2.2.5. Automotive
- 4.2.2.6. Others
- 4.2.3. By Application
- 4.2.3.1. Smart Factory
- 4.2.3.2. Smart Grid
- 4.2.3.3. Connected Car
- 4.2.3.4. Networking Equipment
- 4.2.3.5. Computing Devices
- 4.2.4. By Region
- 4.2.4.1. North America
- 4.2.4.2. Europe
- 4.2.4.3. Asia Pacific (APAC)
- 4.2.4.4. Latin America (LATAM)
- 4.2.4.5. Middle East and Africa (MEA)
5. North America Embedded Security for IoT Market
- 5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share & Forecast
- 5.2.1. By Component
- 5.2.2. By Vertical
- 5.2.3. By Application
- 5.2.4. By Country
- 5.2.4.1. United States
- 5.2.4.1.1. By Component
- 5.2.4.1.2. By Vertical
- 5.2.4.1.3. By Application
- 5.2.4.2. Canada
- 5.2.4.2.1. By Component
- 5.2.4.2.2. By Vertical
- 5.2.4.2.3. By Application
6. Europe Embedded Security for IoT Market
- 6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Component
- 6.2.2. By Vertical
- 6.2.3. By Application
- 6.2.4. By Country
- 6.2.4.1. Germany
- 6.2.4.1.1. By Component
- 6.2.4.1.2. By Vertical
- 6.2.4.1.3. By Application
- 6.2.4.2. United Kingdom
- 6.2.4.2.1. By Component
- 6.2.4.2.2. By Vertical
- 6.2.4.2.3. By Application
- 6.2.4.3. Italy
- 6.2.4.3.1. By Component
- 6.2.4.3.2. By Vertical
- 6.2.4.3.3. By Application
- 6.2.4.4. France
- 6.2.4.4.1. By Component
- 6.2.4.4.2. By Vertical
- 6.2.4.4.3. By Application
- 6.2.4.5. Spain
- 6.2.4.5.1. By Component
- 6.2.4.5.2. By Vertical
- 6.2.4.5.3. By Application
- 6.2.4.6. Belgium
- 6.2.4.6.1. By Component
- 6.2.4.6.2. By Vertical
- 6.2.4.6.3. By Application
- 6.2.4.7. Russia
- 6.2.4.7.1. By Component
- 6.2.4.7.2. By Vertical
- 6.2.4.7.3. By Application
- 6.2.4.8. The Netherlands
- 6.2.4.8.1. By Component
- 6.2.4.8.2. By Vertical
- 6.2.4.8.3. By Application
- 6.2.4.9. Rest of Europe
- 6.2.4.9.1. By Component
- 6.2.4.9.2. By Vertical
- 6.2.4.9.3. By Application
7. Asia-Pacific Embedded Security for IoT Market
- 7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Billion)
- 7.2. Market Share & Forecast
- 7.2.1. By Component
- 7.2.2. By Vertical
- 7.2.3. By Application
- 7.2.4. By Country
- 7.2.4.1. China
- 7.2.4.1.1. By Component
- 7.2.4.1.2. By Vertical
- 7.2.4.1.3. By Application
- 7.2.4.2. India
- 7.2.4.2.1. By Component
- 7.2.4.2.2. By Vertical
- 7.2.4.2.3. By Application
- 7.2.4.3. Japan
- 7.2.4.3.1. By Component
- 7.2.4.3.2. By Vertical
- 7.2.4.3.3. By Application
- 7.2.4.4. South Korea
- 7.2.4.4.1. By Component
- 7.2.4.4.2. By Vertical
- 7.2.4.4.3. By Application
- 7.2.4.5. Australia & New Zealand
- 7.2.4.5.1. By Component
- 7.2.4.5.2. By Vertical
- 7.2.4.5.3. By Application
- 7.2.4.6. Indonesia
- 7.2.4.6.1. By Component
- 7.2.4.6.2. By Vertical
- 7.2.4.6.3. By Application
- 7.2.4.7. Malaysia
- 7.2.4.7.1. By Component
- 7.2.4.7.2. By Vertical
- 7.2.4.7.3. By Application
- 7.2.4.8. Singapore
- 7.2.4.8.1. By Component
- 7.2.4.8.2. By Vertical
- 7.2.4.8.3. By Application
- 7.2.4.9. Vietnam
- 7.2.4.9.1. By Component
- 7.2.4.9.2. By Vertical
- 7.2.4.9.3. By Application
- 7.2.4.10. Rest of APAC
- 7.2.4.10.1. By Component
- 7.2.4.10.2. By Vertical
- 7.2.4.10.3. By Application
8. Latin America Embedded Security for IoT Market
- 8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Billion)
- 8.2. Market Share & Forecast
- 8.2.1. By Component
- 8.2.2. By Vertical
- 8.2.3. By Application
- 8.2.4. By Country
- 8.2.4.1. Brazil
- 8.2.4.1.1. By Component
- 8.2.4.1.2. By Vertical
- 8.2.4.1.3. By Application
- 8.2.4.2. Mexico
- 8.2.4.2.1. By Component
- 8.2.4.2.2. By Vertical
- 8.2.4.2.3. By Application
- 8.2.4.3. Argentina
- 8.2.4.3.1. By Component
- 8.2.4.3.2. By Vertical
- 8.2.4.3.3. By Application
- 8.2.4.4. Peru
- 8.2.4.4.1. By Component
- 8.2.4.4.2. By Vertical
- 8.2.4.4.3. By Application
- 8.2.4.5. Rest of LATAM
- 8.2.4.5.1. By Component
- 8.2.4.5.2. By Vertical
- 8.2.4.5.3. By Application
9. Middle East & Africa Embedded Security for IoT Market
- 9.1. Market Size & Forecast, 2019-2029
- 9.1.1. By Value (USD Billion)
- 9.2. Market Share & Forecast
- 9.2.1. By Component
- 9.2.2. By Vertical
- 9.2.3. By Application
- 9.2.4. By Country
- 9.2.4.1. Saudi Arabia
- 9.2.4.1.1. By Component
- 9.2.4.1.2. By Vertical
- 9.2.4.1.3. By Application
- 9.2.4.2. UAE
- 9.2.4.2.1. By Component
- 9.2.4.2.2. By Vertical
- 9.2.4.2.3. By Application
- 9.2.4.3. Qatar
- 9.2.4.3.1. By Component
- 9.2.4.3.2. By Vertical
- 9.2.4.3.3. By Application
- 9.2.4.4. Kuwait
- 9.2.4.4.1. By Component
- 9.2.4.4.2. By Vertical
- 9.2.4.4.3. By Application
- 9.2.4.5. South Africa
- 9.2.4.5.1. By Component
- 9.2.4.5.2. By Vertical
- 9.2.4.5.3. By Application
- 9.2.4.6. Nigeria
- 9.2.4.6.1. By Component
- 9.2.4.6.2. By Vertical
- 9.2.4.6.3. By Application
- 9.2.4.7. Algeria
- 9.2.4.7.1. By Component
- 9.2.4.7.2. By Vertical
- 9.2.4.7.3. By Application
- 9.2.4.8. Rest of MEA
- 9.2.4.8.1. By Component
- 9.2.4.8.2. By Vertical
- 9.2.4.8.3. By Application
10. Competitive Landscape
- 10.1. List of Key Players and Their Offerings
- 10.2. Global Embedded Security for IoT Market Share Analysis, 2022
- 10.3. Competitive Benchmarking, By Operating Parameters
- 10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
11. Impact of Covid-19 on Global Embedded Security for IoT Market
12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 12.1. NXP Semiconductors
- 12.2. STMicroelectronics
- 12.3. Infineon Technologies AG
- 12.4. Texas Instruments
- 12.5. Renesas Electronics
- 12.6. Microchip Technology Inc.
- 12.7. Qualcomm Technologies, Inc.
- 12.8. Gemalto (Thales Group)
- 12.9. IDEMIA
- 12.10. Cisco Systems, Inc.
- 12.11. Intel Corporation
- 12.12. ARM Holdings
- 12.13. Synopsys, Inc.
- 12.14. Trustonic Limited
- 12.15. On Semiconductor Corporation
- 12.16. Cypress Semiconductor Corporation
- 12.17. Silex Technology America, Inc.
- 12.18. Thales e-Security, Inc.
- 12.19. Other Prominent Players
13. Key Strategic Recommendations
14. Research Methodology
- 14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
- 14.2. Quantitative Research
- 14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
- 14.4. Breakdown of Primary Research Respondents, By Region
- 14.5. Assumptions & Limitations