Market.us announces publication of its most recently generated research report titled, “Global Embedded Security Product Market by Product Type (Secure Element and Embedded SIM, Hardware Security Module, Trusted Platform Module and Hardware Tokens), By Application (Mobile Security, Automotive, Banking Transport Pay-TV & ID, Wearables and Security in IoT Connectivity), and by Region – Global Forecast to 2028.”, which offers a holistic view of the global Embedded Security Product market through systematic segmentation that covers every aspect of the target market.
The global Embedded Security Product market is projected to be US$ 4,425.5 Mn in 2019 to reach US$ 8,136.3 Mn by 2028 at a CAGR of 6.9%.
Embedded security products such as embedded SIM, hardware security module, trusted platform module, and hardware token are used for various applications from mobile security to security of IoT connectivity, banking transport pay to automotive and even in wearables, which is certainly drifting market forward. Embedded security products are majorly used worldwide as even simple car ignition key/door key has become more secure with implementing embedded processors to prevent vehicle theft. Furthermore, secure element and embedded SIM finds its application in several products including tablets, payment cards, smartphones and in e-government documents and owing to large number of shipments regarding these products is further accelerating market growth. In addition to this, growing IoT applications are increasing the need for IoT security, which is expected to boost the demand for embedded security products.
Government and government agencies are promoting digitization, which is also serving in market growth. Also, growing emphasis regarding the protection of critical infrastructure and sensitive data has increased government involvement in recent years, which is also expected to aid the growth of the market.
Global Embedded Security Product Market Revenue (US$ Mn), 2018–2028
However, industry-specific protocols, along with non-adherence to government regulations owing to lack of auditing are key factor expected to hamper the growth of target market. Nonetheless, increasing adoption of cloud-based technologies coupled with growing penetration of internet in developing economies such as China and Asia-pacific regions is serving lucrative opportunities for key players in these regions
Global Embedded Security Product market is segmented based on product type, application, and region. Based on product type, the market is segmented into Secure Element and Embedded SIM, Hardware Security Module, Trusted Platform Module, and Hardware Tokens. The Secure Element and Embedded SIM segment accounts for the majority share and is expected to register highest growth over forecast period. Based on application, the market is segmented into Mobile Security, Automotive, Banking Transport Pay-TV & ID, Wearables, and Security in IoT Connectivity. The Mobile Security segment accounts for a majority share in the global Embedded Security Product market.
Key Market Segments
Type
- Secure Element and Embedded SIM
- Hardware Security Module
- Trusted Platform Module
- Hardware Tokens
Application
- Mobile Security
- Automotive
- Banking, Transport, Pay-TV & ID
- Wearables
- Security in IoT Connectivity
- Others
Key Market Players included in the report:
- NXP Semiconductors N.V.
- Infineon Technologies AG
- STMicroelectronics N.V
- Thales S.A. (Gemalto N.V.)
- Microchip Technology Inc
For More Details Visit: https://market.us/report/embedded-security-product-market/
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