Embedded Security For Internet Of Things Market Will hit at a CAGR 14.6% through 2027

30/mag/2017 12:50:34 Pradnya Virkar Contatta l'autore

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Controller Chip segment by component anticipated to expand at a CAGR higher than the Software segment during the period of assessment

In terms of revenue, the controller chip segment is projected to be the most attractive segment in the global embedded security for the Internet of Things (IoT) market during the forecast period. This segment is Also Likely to register high growth rates YoY Throughout the forecast period and is anticipated to expand at a CAGR of 14.7% between 2017 and 2027. The segment controller chip is estimated to be valued at More than US $ 2,300 Mn in 2017, accounting for more than 80% of the global market revenue share. This segment is expected to remain dominant in terms of revenue Throughout the forecast period. The segment is projected to create $ incremental opportunity of More than US $ 6,800 Mn between 2017 and 2027.

Growing intensity of cyber-attacks on IoT devices and networks will create a positive impact on the controller chip segment

Due to Increasing intensity of cyber-attacks, various associations That Promote Best Practices for Implementing IoT solutions have issued guidelines for implementation and adoption of Necessary security solutions in order to protect against such attacks. Implementation of embedded controller chipsets is one such guideline promoting the adoption of embedded solutions for IoT. An Increasing use of controller chipsets in order to Ensure protection from cyber-attacks is expected to drive revenue growth of the segment controller chips embedded in the global security for the Internet of Things (IoT) market. For instance, in December 2016, a non-profit multi-industry association called Smart Card Alliance promoting best practices for smart card applications in the US and Latin America issued guidelines for the adoption of embedded hardware security (chip controller) solutions Involving end devices to It includes hardware features and functions to ensure that the required security standards are Implemented and maintained.

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Security software alone is not sufficient to protect IoT devices against cyber-attacks and malware and needs to be supported by reliable hardware for data processing and safe storage. Vulnerable hardware components are susceptible to Unauthorized access and data theft, Thereby compromising the security of the overall system, Which is why OEMs are turning towards embedded component suppliers who can address These security issues effectively.

embedded security for Internet of Things Market

BlackBerry's cloud-based IoT platform addresses security aspects of the Internet of Things

In January 2015, Canadian telecom solutions provider BlackBerry Launched in cloud-based IoT platform with device management features enabling data gathering from a range of devices and networks. The platform Enables application developers, business partners, and others to collaborate on different aspects of IoT solutions including security. Initially, the platform was targeted at the automotive and shipping sector and in the future, it will be extended to other verticals such as energy and healthcare.

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Non-adherence to guidelines issued by governing Authorities is a major growth market restraint

Although a number of governing Authorities have issued guidelines to be Followed by IoT device manufacturers so as to protect against cyber-attacks happening on IoT networks and devices, many device manufacturers and users do not strictly adhere to These guidelines nor take any precautionary measures. Non-adherence to security guidelines results in security lapses, Which cyber attackers take advantage of, Resulting in Unauthorized data access and data thefts. This is a major factor hampering revenue growth of the global embedded security for the Internet of Things (IoT) market.

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