EMBEDDED SECURITY FOR INTERNET OF THINGS (IOT) MARKET ANALYSIS
Global Embedded Security for Internet of Things (IoT) Market is estimated to be valued at US$ 15.21 Bn by 2030.
Global Embedded Security for Internet of Things (IoT) Market- Trends:
Growing Focus on Component Aspect of Security
Software security solutions alone cannot prevent IoT devices against cyber-attacks and malwares. Thus, it needs to be supported by reliable hardware and for data processing and safe storage. Moreover, hardware components that susceptible to cyber-attacks provide an opportunity for unauthorized access and data theft, which is why, OEMs are shifting focus towards embedded component suppliers who can address these security issues.
Growing adoption of Industry 5.0 applications enabled by IoT, in order to become smart factory
‘Industry 5.0’ is a novel concept in the manufacturing industry where companies are adopting intelligent network, connected machines, systems, etc. in order to become smart factories. This will allow them to automatically monitor, exchange information, and instigate actions independently. Growing adoption of Industry 5.0 applications is expected to accelerate demand for embedded security solutions in the near future.
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