Security News > 2022 > April > Embedded security market to reach $9 billion by 2027

The embedded security market size is projected to grow from $6.8 billion in 2022 to $9 billion by 2027; it is expected to grow at a CAGR of 5.9% from 2022 to 2027, according to MarketsandMarkets.

The key factors contributing to the growth of the embedded security market include increasing use of IoT-based applications, payments functionality in wearables, increasing cyber threats.

The cost associated with hardware security modules is hindering the growth of the embedded security market.

Growing demand for embedded security in electric and semi-autonomous vehicles is the biggest opportunity in the market space with APAC having the highest market share and the highest CAGR for the forecast period.

APAC embedded security market to exhibit the highest CAGR. The market based on geography has been segmented into 4 main regions: North America, Europe, APAC, and RoW. APAC is projected to grow at the highest CAGR of 7.0% during the forecast period.

The software security market is expected to hold the largest market share by 2027.

News URL

https://www.helpnetsecurity.com/2022/04/07/embedded-security-market-2027/