North America Embedded Security Market Size, Share & Industry Trends Analysis Report By Application, By Offering (Software, Hardware, and Services), By Security Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Embedded Security Market would witness market growth of 5.3% CAGR during the forecast period (2022-2028).
The demand for embedded security solutions is increasing as attacks on embedded systems are becoming more common. Despite the fact that industrial automation has raised the demand for the Internet of Things (IoT), this has created chances for IoT security solutions to be adopted. Security solutions are in high demand in banking, transportation, and wearables, which is propelling the market growth. Embedded security systems have been widely used in the automotive industry in order to prevent car thefts, secure car locks, and more. Secure embedded SIMS and solutions are being used by advanced smartphones, payment cards, tablets, and other devices with a huge number of shipments, which is likely to drive the demand for these solutions.
The Internet of Things is composed of a number of digital services, devices, and other tangible objects that will be able to interact, connect, and exchange data in real-time. IoT security will be a major challenge that will need to be solved in order to allow a variety of current and future uses. Cryptographic Algorithms and Hardware Design for Ultra-Low Power Memory and Processing Needs, Trusted Platform Module, as well as Standardized Security Protocol, are critical components for embedded security for the Internet of Things.
North America has the highest number of IoT and smart project implementations, emphasizing the importance of IoT security. The increasing number of software threats has become a subject of concern on a global scale, driving up the requirements for security solutions. To protect oneself from such assaults, connected devices such as smartphones, PCs, wearables, and other devices are required to use embedded security solutions. In addition, government engagement has grown in recent years in response to growing concerns about the security of essential infrastructure and sensitive data. As a result, government activities in North America, such as particular budget allocations and mandatory security rules, are majorly driving the deployment of embedded security solutions in various government and private industries.
The US market dominated the North America Embedded Security Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,041.9 million by 2028. The Canada market is poised to grow at a CAGR of 4.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 7% during (2022 - 2028).
Based on Application, the market is segmented into Payment Processing & Card, Smart Identity Cards, Industrial, Smartphones, Wearables, Automotive, and Others. Based on Offering, the market is segmented into Software, Hardware, and Services. Based on Security Type, the market is segmented into Payment, Authentication & Access Management, and Content Protection. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Embedded Security Market is Estimated to reach $9.3 Billion by 2028, at a CAGR of 6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Renesas Electronics Corporation, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Texas Instruments, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Thales Group S.A., IDEMIA SAS (Advent International, Inc.), Qualcomm, Inc., and Microchip Technology, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Payment Processing & Card
- Smart Identity Cards
By Security Type
- Authentication & Access Management
- Content Protection
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Renesas Electronics Corporation
- STMicroelectronics N.V.
- Infineon Technologies AG
- NXP Semiconductors N.V.
- Texas Instruments, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Thales Group S.A.
- IDEMIA SAS (Advent International, Inc.)
- Qualcomm, Inc.
- Microchip Technology, Inc.
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