Trusted Platform Module Market Size

Trusted Platform Module (TPM) Market size was valued at USD 2.25 Billion in 2023 and is anticipated to reach USD 10.65 Billion by the end of 2036, expanding at around 12.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of trusted platform module is assessed at USD 2.54 Billion.. The growth of the market can be attributed to the increasing adoption of devices, such as laptops, smartphones, and tablets, where TPM is connected to the motherboard. The presence of these electronic devices can be noticed in the workplace to household facilities where several crucial tasks are executed using these devices such as banking. One by one, hundreds of sensitive information and credential keeps to be stored in the system that needs to be protected, hence, it becomes the major factor to hike the market growth over the forecast period. In 2021, the total number of smartphone subscriptions in the world was more than 6,000, up from about 5,800 in 2020 and 5,500 in 2019 respectively.

In addition to this, the global trusted platform module (TPM) market trends such as growing demand for enhanced security features in electronic devices used for transferring sensitive data owing to the rise in the number of external software attacks are also expected to drive market growth during the forecast period. There were more than 800 million malware infections in 2018, up from just 10 million malware infections in 2009. Also, 92% of malware is delivered by email. Furthermore, there is a mounting requirement for protecting the applications and software from cyberattacks on systems where the chip is integrated. This is projected to raise the demand for TPM in cloud computing, which in turn is evaluated to offer ample growth opportunities to the market shortly.