Research Nester’s recent market research analysis on “Trusted Platform Module (TPM) Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global trusted platform module (TPM) market in terms of market segmentation by type, implementation type, application, and by region.
Growing Penetration of Third-Party Attack to Drive Growth of Global Trusted Platform Module (TPM) Market
The global trusted platform module (TPM) market is estimated to grow majorly on account of the surge in the manufacturing of desktops with higher sales volume. In each motherboard of these desktops, TTMs are installed to offer data security against third-party attacks to protect sensitive credentials stored in the device. Hence, such higher production and shipment of desktops is anticipated to drive market growth over the forecast period. For instance, in 2021 the shipment of PC and desktops was estimated to reach approximately 85 million units while Lenovo was projected to sell around 15 million PCs across the globe. Furthermore, the boom in the number of devices connected to IoT around the world is also projected to expand the market size over the forecast period. For instance, the total number of devices that will be connected to the Internet of Things was anticipated to be approximately 25 billion by the year 2030.
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Additionally, the increasing number of cyber-attacks to steal sensitive data is further expected to influence the growth of the global trusted platform module (TPM) market positively during the forecast period since TTMs are primarily designed to protect data from such third-party attacks. TTMs are installed on tablets, mobiles, and desktops to prevent uneasy incidents of data breaches. For instance, in 2021, it was observed that every hour, nearly 97 incidents of data breaches took place. However, people across the globe are being more aware of cyber security and therefore, they prefer devices with high-security standards. In modern times, almost everyone has access to mobile with zero knowledge of cyber stacks, hence, the demand for TTMs is set to grow over the forecast period. For instance, around 80% of Android phones were projected to have at least 1 vulnerability. Therefore, all these factors are anticipated to flourish the growth of the market over the forecast period.
Some of the major growth factors and challenges that are associated with the growth of the global trusted platform module (TPM) market are:
Growth Drivers:
• Surge in Incidents of Cyber Attacks
• Rising Number of Connections to the IoT Devices
Challenges:
The events of automatic device encryption and fewer people being aware of the benefits provided by trusted platform modules are some of the major factors anticipated to hamper the growth of the global trusted platform module (TTM) market. Additionally, there is the possibility that trusted platform modules can be vulnerable to certain types of third-party attacks such as cold boot attacks.
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By application, the global trusted platform module (TPM) market is segmented into pay TV & ID, mobile security, automotive, banking, transport, and security in IoT Connectivity. The mobile security segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment can be accounted for the boom in the manufacturing of mobile phones owing to higher demand in the global population. Mobile phones are making their way into everyone’s lives since they contain a wide range of features for multiple purposes. A notable number of people are not aware of the fact that mobile phones can be so vulnerable to third-party attacks, where sensitive data can be stolen and used for malicious purposes damaging the reputation of the owner. It was estimated in 2021, more than 15 million mobile phones were being used across the globe. On the other hand, the global trusted platform module (TPM) market is segmented by type into discrete, integrated, and firmware, out of which, the integrated segment is anticipated to boost the market growth during the forecast period. The growth of this segment is anticipated by escalated utilization of integrated TTMs owing to their enhanced performance in the protection of sensitive data.
By region, the Asia Pacific trusted platform module (TPM) market is to generate the highest revenue by the end of 2035. This growth is anticipated by growth in the utilization of PCs backed by the growing industrialization and rise in the adoption of e-commerce services. Owing to the growing penetration of e-commerce services, a notable boom in the sales of electronic devices can be observed in the region. For instance, Southeast Asia is anticipated to gain approximately 350 million online shoppers by 2026. Additionally, the penetration of the internet in the Asia Pacific is observed to rise exponentially and since the internet is accessible to all types of people, the possibility of cyber-attacks gets stronger that in turn is anticipated to propel the market growth during the forecast period. On the other hand, the trusted platform module (TPM) market is further anticipated to hold the second-largest share in the North American region over the forecast period on the back of rising cases of data breaches.
This report also provides the existing competitive scenario of some of the key players of the global trusted platform module (TPM) market which includes company profiling of BD (Becton, Dickinson, and Company), Gerreshelmer AG, Baxter, Nemara, Kindeva Drug Delivery, West Pharmaceutical Services Inc., Ypsomed, Medtronic, E3D Elcam Drug Delivery Devices, AstraZeneca, Merck KGaA, and others.
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