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Embedded security market set to be worth $5.47 billion by 2023 scrutinized in new research

IT Market Research

Embedded Security Market Global Review From 2017 to 2023 of 148 pages added by reports and reports explores Global Embedded Security Market size, trends, demand, share, growth, industry, and companies’ analysis to 2023. Embedded system security is the reduction of vulnerabilities and protection against threats in software running on embedded devices. According to study global Embedded Security market reaching $5.47 billion at a CAGR of 5.9% by 2023.

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Embedded Security Company analysed in report are Infineon (Germany), STMicroelectronics (Switzerland), NXP (Netherlands), Gemalto (Netherlands), Microchip (US), Samsung (South Korea), Texas Instruments (US), IDEMIA (France), Renesas Electronics Corporation (Japan), and Inside Secure (France).

“The Embedded Security market is estimated to witness significant growth between 2017 and 2023”

Key factors driving the growth of the Embedded Security include growing IoT applications increasing the need for IoT security, inclusion of embedded security in wearable’s, and government agencies promoting digitization. Factors such as integration of embedded security in electric vehicles and need for integrated security solution for IIoT would offer great opportunities for the growth of the embedded security market.

“The embedded security market for secure element and embedded SIM to hold the largest share during the forecast period”

The embedded security market for the secure element and embedded SIM is expected to account for the largest share by 2023, as secure element and embedded SIM finds its applications in a number of products such as smart phones, tablets, payments cards, and e-government documents.

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Payment cards and E-government expected to drive the growth of embedded security market for secure element and embedded SIM.

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“Wearable’s is expected to grow at the highest CAGR during the forecast period”

The embedded security market for wearables based on the application is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the fact that IoT is promoting a new era for payments companies and manufacturers to use wearables.

The rapid expansion of the Internet of Things (IoT) offers an opportunity to facilitate payments into wearables, which, in turn, would boost the demand for embedded security in wearables.

“APAC holds largest share of the embedded security market”

Asia Pacific (APAC) is the largest market for embedded security because of China, which is a huge manufacturing hub for applications such as automotive and smart phones; these applications comprise a major share of the embedded security market.

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Research Coverage: This research report categorizes the overall embedded security market based on product, security type, application, and geography. The report describes major drivers, restraints, challenges, and opportunities pertaining to the market as well as provides value chain analysis.

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