Embedded Security for Internet of Things Market Overview
As per MRFR analysis, the Embedded Security for Internet of Things Market Size was estimated at 31.33 (USD Billion) in 2022.The Embedded Security for Internet of Things Market Industry is expected to grow from 36.19(USD Billion) in 2023 to 132.52 (USD Billion) by 2032. The Embedded Security for Internet of Things Market CAGR (growth rate) is expected to be around 15.52% during the forecast period (2024 - 2032).
Key Embedded Security for Internet of Things Market Trends Highlighted
The Embedded Security market for IoT is set to experience significant growth in the coming years due to several key market drivers, including the rising adoption of IoT devices across various industries and the increasing concerns about data privacy and security. The growing threat of cyberattacks and the need for regulatory compliance are also driving the demand for robust embedded security solutions.
Key opportunities in the market lie in the development of innovative technologies, such as AI and ML-based security solutions, and the integration of embedded security with other emerging IoT technologies. Additionally, the expansion of IoT into new areas, such as healthcare and critical infrastructure, is expected to create new growth opportunities for embedded security providers.
Recent trends in the market include the increasing adoption of cloud-based security solutions, the growing demand for end-to-end security solutions, and the focus on developing secure and resilient firmware for IoT devices. These trends are shaping the market landscape and providing opportunities for new entrants and established players alike.
Figure1: Embedded Security for Internet of Things Market, 2018 - 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Embedded Security for Internet Of Things Market Drivers
Rising Adoption of IoT Devices
The increasing adoption of IoT devices in healthcare, manufacturing, and smart homes, among other industries, has resulted in a corresponding raised need for secure solutions for such devices including embedded IoT. In most instances, these devices collect substantial amounts of information before transmitting it, thereby making them attractive targets for various types of cybercrimes. Embedded security insulates these devices from any unauthorized access, ensuring the protection of such data.Frequent security breaches often lead to significant data losses, breaches of privacy and data leaping, among other adverse effects. Further, such breaches often result in enormous losses in terms of both expenses and reputation. According to the IoT security market growth, the use of connected devices is on the rise, and thus, there is great potential for additional growth of embedded security for the IoT market.
Increasing Cybersecurity Threats
The increasing threat landscape is a key challenge for IoT security. In response to this, cybercriminals are constantly developing sophisticated attacks aimed at exploiting vulnerabilities in IoT machines and networks. However, embedded security solutions can help prevent these threats by providing real-time protection against phishing attacks, malware, and other malicious activities. In fact, the increasing incidents of cyberattacks will drive the demand for embedded security solutions in the Embedded Security for Internet Of Things Market Industry.
Government Regulations and Compliance
The demand for embedded security for IoT is increasing with stringent government regulations and compliance mandates. Governments across the globe are adopting regulations to safeguard consumer data and mission-critical infrastructure against threats. Thus, regulations mandate strong security control general and device-level security for IoT devices, which is expected to drive the demand for embedded security for the IoT market.
Embedded Security for Internet of Things Market Segment Insights
Embedded Security for Internet of Things Market Component Insights
Embedded Security for Internet Of Things Market – Segment by Component (Hardware, Software, Services) – Analysis and Forecast from 2023. The Embedded Security for Internet Of Things Market is segmented by Component into Hardware, Software and Services. The Hardware segment held the largest market share in 2023, and it is expected to continue to dominate the market throughout the forecast period. This is due to the increasing demand for secure hardware solutions to protect IoT devices from cyberattacks. The Software segment is also expected to grow at a significant rate, as vendors are developing new and innovative software solutions to meet the evolving security needs of IoT devices.The Software segment is expected to reach a value of USD 36.19 billion by 2032, growing at a CAGR of 15.52% from 2023 to 2032. The market is also being driven by the development of new and innovative security technologies, such as artificial intelligence and machine learning. Key players operating in the Embedded Security for Internet Of Things Market are AT, Cisco, Ericsson and T-Mobile.
Figure2: Embedded Security for Internet of Things Market, By Component, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Embedded Security for Internet of Things Market Deployment Mode Insights
The Embedded Security for the Internet of Things Market is segmented by Deployment Mode into On-premises, Cloud and Hybrid. The Cloud segment is expected to hold the largest market share in 2023, owing to its benefits such as scalability, flexibility and cost-effectiveness. The On-premises segment is expected to witness significant growth over the forecast period due to the increasing adoption of embedded security solutions by enterprises to protect their critical infrastructure. The Hybrid segment is expected to grow at a steady pace, as it offers a combination of the benefits of both on-premises and cloud deployments.
Embedded Security for Internet of Things Market Application Insights
The Embedded Security for Internet of Things Market is segmented by Application into Data Protection, Access Control, Threat Detection and Prevention and Vulnerability Management. The data Protection segment is expected to account for the largest revenue share in 2023, with a market size of USD 36.19 billion and is expected to reach USD 132.52 billion by 2032, growing at a CAGR of 15.52% during the forecast period. This growth can be attributed to the increasing number of cyber threats and the need to detect and prevent these threats from compromising IoT devices and data.Vulnerability Management segment is also expected to witness significant growth during the forecast period, with a market size of USD 36.19 billion in 2023 and is expected to reach USD 132.52 billion by 2032, growing at a CAGR of 15.52%. This growth can be attributed to the need to identify and fix vulnerabilities in IoT devices and systems to prevent them from being exploited by cybercriminals.
Embedded Security For Internet Of Things Market Industry Vertical Insights
The Embedded Security For Internet Of Things Market is segmented by Industry Vertical into Manufacturing, Healthcare, Retail, Transportation and Logistics and Smart Cities. Among these segments, Manufacturing is expected to hold the largest market share in 2023, owing to the increasing adoption of IoT devices in manufacturing processes to improve efficiency and productivity. The Healthcare segment is also expected to witness significant growth, driven by the rising demand for connected medical devices and the need to protect patient data.The Retail segment is expected to grow steadily, driven by the increasing adoption of IoT devices for inventory management and customer engagement. The Transportation and Logistics segment is expected to witness moderate growth, driven by the increasing adoption of IoT devices for fleet management and supply chain optimization. The Smart Cities segment is expected to grow rapidly, driven by the increasing adoption of IoT devices for smart city applications such as traffic management and public safety.
Embedded Security for Internet Of Things Market Organization Size Insights
The Embedded Security for Internet Of Things Market is segmented by organization size into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. The Large Enterprises segment held a larger market share in 2023 and is expected to continue its dominance throughout the forecast period. This growth is attributed to the increasing adoption of IoT devices and the need for robust security measures to protect sensitive data and critical infrastructure. SMEs, on the other hand, are expected to witness significant growth due to the increasing awareness of cybersecurity threats and the need for cost-effective security solutions.The Embedded Security for Internet Of Things Market revenue for Large Enterprises is projected to reach USD 96.45 billion by 2032, while the SMEs segment is estimated to reach USD 36.07 billion by the same year.
Embedded Security for Internet Of Things Market Regional Insights
Regionally, North America held the largest market share in 2023, accounting for 38.5% of the revenue. The region's dominance can be attributed to the high adoption of IoT devices and the presence of major technology companies. Europe followed North America, capturing a market share of 27.9% in 2023. The region's growth is driven by the increasing demand for embedded security solutions in various industries, such as automotive, healthcare, and manufacturing. APAC is expected to witness the fastest growth during the forecast period, with a CAGR of 17.2%.The region's growth is attributed to the rapidly growing IoT market and the increasing adoption of smart devices. South America and MEA are also projected to experience significant growth, albeit at a slower pace compared to APAC.
Figure3: Embedded Security for Internet of Things Market, By Regional, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Embedded Security for Internet of Things Market Key Players And Competitive Insights
Major players in Embedded Security for Internet of Things Market industry are continuously involved in research and development activities to enhance their product portfolio and gain a competitive edge. Leading Embedded Security for Internet of Things Market players are focusing on strategic partnerships, acquisitions, and collaborations to strengthen their market position. The Embedded Security for Internet Of Things Market is expected to witness significant growth in the coming years, owing to the increasing adoption of IoT devices and the growing demand for security solutions for IoT applications. Embedded Security for Internet of Things Market development is driven by factors such as the rising adoption of IoT devices, the increasing demand for security solutions for IoT applications, and the growing awareness of the importance of embedded security. Embedded Security for Internet Of Things Market Competitive Landscape is characterized by the presence of a number of major players, including NXP Semiconductors, Infineon Technologies, Microchip Technology, STMicroelectronics, and Texas Instruments.NXP Semiconductors is a leading provider of embedded security solutions for IoT devices. The company offers a wide range of products, including secure microcontrollers, secure processors, and secure elements. NXP Semiconductors has a strong focus on innovation and has invested heavily in research and development. The company has a number of patents in the field of embedded security and is a major contributor to the development of industry standards. NXP Semiconductors has a presence and serves a wide range of customers, including consumer electronics manufacturers, industrial automation companies, and automotive manufacturers. Infineon Technologies is a leading provider of embedded security solutions for IoT devices. The company offers a wide range of products, including secure microcontrollers, secure processors, and secure elements. Infineon Technologies has a strong focus on innovation and has invested heavily in research and development. The company has a number of patents in the field of embedded security and is a major contributor to the development of industry standards. Infineon Technologies has a presence and serves a wide range of customers, including consumer electronics manufacturers, industrial automation companies, and automotive manufacturers.A competitor of NXP Semiconductors in the Embedded Security For Internet Of Things Market is Infineon Technologies. Infineon Technologies is a leading provider of semiconductors and semiconductor systems. The company offers a wide range of products, including microcontrollers, power semiconductors, and sensors. Infineon Technologies has a strong focus on embedded security and offers a range of products that are designed to protect IoT devices from cyberattacks. The company's products are used in a variety of applications, including automotive, industrial, and consumer electronics. Infineon Technologies is a major competitor to NXP Semiconductors in the Embedded Security For Internet Of Things Market.
Key Companies in the Embedded Security For Internet Of Things Market Include
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Infineon Technologies
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Silicon Labs
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Intel
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Analog Devices
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Cypress Semiconductor
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ARM Holdings plc.
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Qualcomm
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Samsung Electronics
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Renesas Electronics
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NXP Semiconductors
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Diodes Incorporated
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STMicroelectronics
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Texas Instruments
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Microchip
Embedded Security for Internet Of Things Market Industry Developments
The Embedded Security for Internet of Things (IoT) market is projected to grow from USD 36.19 billion in 2023 to USD 132.52 billion by 2032, at a CAGR of 15.52% from 2024 to 2032. Rising concerns over data breaches, increasing adoption of IoT devices, and growing demand for secure connectivity are key factors driving market growth. Recent developments include partnerships between major players such as Microsoft and Arm to enhance IoT security, as well as the launch of new products such as Infineon's OPTIGA Trust X security solution. Governments worldwide are also implementing regulations to strengthen IoT security, creating further opportunities for market growth.
Embedded Security For Internet Of Things Market Segmentation Insights
Embedded Security For Internet Of Things Market Component Outlook
- Hardware
- Software
- Services
Embedded Security For Internet Of Things Market Deployment Mode Outlook
Embedded Security For Internet Of Things Market Application Outlook
- Data Protection
- Access Control
- Threat Detection and Prevention
- Vulnerability Management
Embedded Security For Internet Of Things Market Industry Vertical Outlook
- Manufacturing
- Healthcare
- Retail
- Transportation and Logistics
- Smart Cities
Embedded Security For Internet Of Things Market Organization Size Outlook
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Embedded Security For Internet Of Things Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
31.33(USD Billion) |
| Market Size 2023 |
36.19(USD Billion) |
| Market Size 2032 |
132.52(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
15.52% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Infineon Technologies, Silicon Labs, Intel, Analog Devices, Cypress Semiconductor, ARM Holdings plc., Qualcomm, Samsung Electronics, Renesas Electronics, NXP Semiconductors, Diodes Incorporated, STMicroelectronics, Texas Instruments, Microchip |
| Segments Covered |
Component, Deployment Mode, Application, Industry Vertical, Organization Size, Regional |
| Key Market Opportunities |
Increase in IoT adoption growing need for data protection demand for secure cloud-based solutions rise of smart cities and advancements in AI and machine learning |
| Key Market Dynamics |
Growing IoT device connectivity Increasing security concerns Advancements in encryption technologies Stringent government regulations Proliferation of cloud-based IoT platforms |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Embedded Security for Internet of Things Market was expected to reach a valuation of USD 132.52 billion by 2032, exhibiting a CAGR of 15.52% from 2024 to 2032.
North America and Europe are the dominant regions in the Embedded Security For Internet Of Things Market, collectively accounting for over 60% of the market share.
Key applications of Embedded Security For Internet Of Things include consumer electronics, industrial automation, healthcare, and automotive.
Major players in the Embedded Security For Internet Of Things Market include Infineon Technologies, NXP Semiconductors, STMicroelectronics, Microchip Technology, and Renesas Electronics.
Rising adoption of IoT devices, increasing concerns over data security and privacy, and government regulations are key growth drivers for the Embedded Security For Internet Of Things Market.
Technical complexities, high cost of implementation, and lack of skilled professionals are key challenges faced by the Embedded Security for Internet of Things Market.
The Embedded Security for Internet of Things Market is anticipated to grow at a CAGR of 15.52% from 2024 to 2032.
Key trends in the Embedded Security for Internet of Things Market include the adoption of cloud-based security solutions, increased use of artificial intelligence, and growing demand for hardware-based security.
Embedded security solutions play a crucial role in safeguarding IoT devices and ensuring the integrity of data transmitted and processed within the IoT ecosystem.
The Embedded Security for Internet of Things Market is projected to witness continued growth, driven by advancements in IoT technologies, increasing adoption of connected devices, and rising concerns over cybersecurity.
