Canada Embedded Security Market: Key
Players, Sales Trends Analysis, and
Revenue Forecast 2023-2030
The global embedded security market is experiencing significant growth, fueled by the
increasing demand for security solutions to combat side-channel attacks on embedded system
devices. According to Fairfield Market Research, the market was valued at US$5.8 billion in
2019 and is projected to surpass US$9.8 billion by 2026, with a CAGR of 8.1% during the
forecast period of 2021 to 2026.
Read More: https://www.fairfieldmarketresearch.com/report/embedded-securitymarket
The demand for embedded security solutions in Canada is also being driven by the need for
secure authentication and anti-counterfeit technologies in sectors such as retail, medical, and
critical infrastructure.
Side-Channel Attacks and the Need for Security Solutions
In the realm of embedded systems, side-channel attacks pose a significant threat to sensitive
data such as cryptographic keys and communications. These attacks extract processed data
from a chip or system and exploit it to derive valuable information. To mitigate this risk,
embedded security systems employ various security measures to detect and prevent potential
threats. These security features not only safeguard against side-channel attacks but also
protect against unauthorized access and manipulation of software. With the rising
vulnerability of users, service providers, and manufacturers to side-channel assaults, the
demand for embedded security solutions is set to increase substantially.
The Role of Embedded Security in Wearable Technology
Wearable technology has gained immense popularity, with advancements in devices such as
clothing, smart glasses, jewelry, and virtual reality equipment. These devices offer a
multitude of functions, including fitness tracking, navigation, and health monitoring. As
wearables integrate features like payments and smart home control, embedded security
solutions become essential to ensure user consent and prevent misuse. Industry players like
STMicroelectronics are already providing secure wearable solutions for applications like
payment, transit, and contactless transactions. Collaborations between companies, such as
Axis Bank and Thales Group's "Wear N Pay" initiative, further drive the growth of the global
embedded security market.
Applications in Retail, Medical, and Critical Infrastructure
The demand for embedded security solutions is rapidly expanding across various sectors,
including retail, medical, and critical infrastructure. These industries rely on secure
authentication and anti-counterfeit technologies to protect consumers and system integrity.
Embedded security solutions offer features such as intuitive card handling, one-module
solutions for high-volume card manufacturing, and simplified protection for regulatory
compliance applications. With the increasing emphasis on threat analysis, encryption, and
data security, the embedded security market is poised for substantial growth in these sectors.
Supply Chain Disruptions and the Impact on Embedded Security Solutions
Semiconductors play a vital role in embedded systems, and any disruptions in the global
supply chain have a direct impact on the embedded security market. The ongoing trade
conflicts between the United States and China, resulting in tariffs and limitations, have
significantly disrupted the demand and supply of semiconductors. Moreover, the COVID-19
pandemic has further exacerbated the situation by causing disruptions in the semiconductor
supply chain. China, being a major semiconductor supplier, has experienced political
volatility that has negatively affected the global embedded security market. The shortage of
semiconductors has created challenges for manufacturers and users, hindering the growth
potential of embedded security solutions.
Addressing Vulnerabilities to Cyber Threats and Security Breaches
The security of embedded devices is a critical concern for industries such as military forces,
banks, data centers, and healthcare facilities that rely on embedded systems to store sensitive
information. Protecting these devices against cyber attacks and data breaches is of paramount
importance. However, embedded systems often face vulnerabilities due to factors such as
infrequent security updates, long device lifecycles, remote deployment, and the ability to
replicate attacks. As a result, the growth of the embedded security market is hindered by the
need to address these vulnerabilities and strengthen the security measures.
Asia Pacific: Leading the Global Embedded Security Market
The Asia Pacific region holds the largest share in the global embedded security market and is
expected to dominate throughout the forecast period. Emerging economies like India, China,
Singapore, and Japan are grappling with increasing cybersecurity concerns. India, in
particular, has witnessed a significant rise in cybercrime registrations, including DNS
hijackings. With a vast amount of highly sensitive data and billions of IoT-connected devices,
security remains a top priority in the APAC region. The recent outbreak of COVID-19 has
further accelerated the adoption of cybersecurity solutions, as remote work environments
have become more prevalent. Microsoft reported a staggering 19 million ransomware and
phishing attacks in Asia between February and May 2020. However, North America and
Europe also contribute significantly to the embedded security market, collectively holding
more than 50% of the market share in terms of revenue.
Competitive Landscape: Key Players in the Embedded Security Market
Several prominent players operate in the embedded security market, driving innovation and
offering cutting-edge solutions. Cisco Systems, Infineon Technologies, STMicroelectronics,
NXP Semiconductors, Texas Instruments, and Renesas Electronics are among the leading
companies in this industry. Other key players include Qualcomm Incorporated, Microchip
Technology, Samsung Electronics, Morpho S.A.S (IDEMIA), and Escrypt GmbH (ETAS
Group).
Recent Developments
In January 2022, Thales Group launched SafeNet MobilePASS+ 2.2, a mobile authenticator
for Android and Windows. With enhanced security features such as fingerprint and face
recognition, SafeNet MobilePASS+ streamlines the approval of push authentication requests
and generates secure one-time passcodes. The self-enrollment process is quick and simple,
thanks to QR code activation.
In May 2021, Microchip introduced the Trust Platform Design Suite (TPDS), a
comprehensive software platform for device configuration and onboarding to Microchip
secure provisioning services. TPDS facilitates secure deployment and maintenance of IoT
devices, ensuring zero-touch provisioning and robust security.
In February 2021, NXP Semiconductor launched EdgeLock 2GO, a solution designed for
secure deployment and maintenance of IoT devices. With features tailored for zero-touch
operations and strong security, EdgeLock 2GO provides a reliable platform for IoT device
management.
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