According to the new market research report on the "Embedded Security Market by Product (Secure Element and Embedded SIM, Trusted Platform Module, Hardware Security Module), by Security type (Authentication and Access Management, Payment, Content Protection), Application and Geography - Global Forecast to 2023", this market is expected to be valued at USD 3.87 Billion by 2017 and USD 5.47 Billion by 2023, at a CAGR of 5.9% between 2017 and 2023. The major factors driving the growth of the embedded security market include growing IoT applications increasing the need for IoT security, inclusion of embedded security in wearables, and government agencies promoting digitization.
Browse 61 Market Data Tables and 37 Figures spread through 134 Pages and in-depth TOC on "Embedded Security Market - Global Forecast to 2023"
Early buyers will receive 10% customization on reports.
Secure element and embedded SIM based on product is expected to hold largest market share by 2023
Secure element and embedded SIM finds its applications in a number of products such as smartphones, tablets, payments cards, and e-government documents. Due to a large number of shipments of above-mentioned products, this market is the considered to the largest.
Payment processing and cards application based on application is expected to hold largest market share by 2023
The payment processing and cards application is the largest market for embedded security as it is being used extensively in Europay,MasterCard, and Visa (EMV) cards. EMV chips replace the easily copied magnetic stripe and produce a one-time code for each transaction ensuring the data cannot be reused if the card is stolen. EMV is the key to combatting card counterfeiting, which accounts for the largest share of payments fraud. Hence, this segment holds the largest market as EMV cards are now replacing the magneto strip cards.
Authentication and access management based on security type to grow at highest CAGR during the forecast period
Growing emphasis on compliance management and increasing trend of mobility have driven the demand for authentication and access management in various sectors. Currently, employees can use their devices from different locations. Moreover, the Bring Your Own Device (BYOD) approach is increasing the usage of mobile applications. Changing scenarios and distributed IT environments have made organizations susceptible to cyber threats, thereby fueling the demand for authentication and access management. This factor is expected to create market opportunities for authentication and access management solution vendors during the forecast period.
North America to be the highest growing region
The growing concern for the protection of critical infrastructure and sensitive data has increased government intervention in recent years. Thus, government initiatives, such as specific budget allocations and mandated security policies, are expected to drive the growth of the embedded security market in North America.
This report also profiles the most promising players in this market. The competitive landscape of the market presents an interesting picture where a large number of players have become a force to reckon with. The key players in this market are Infineon (Germany), STMicroelectronics (Switzerland), NXP (Netherlands), Gemalto (Netherlands), Microchip (US), Samsung (South Korea), Texas Instruments (US), IDEMIA (France), Renesas (Japan), and Inside Secure (France).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441