Global Security IP Core Market Growth (Status and Outlook) 2026-2032

September 2026 | 100 pages | ID: G7645EF0A604EN
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The global Security IP Core market size is predicted to grow from US$ million in 2025 to US$ million in 2032; it is expected to grow at a CAGR of %from 2026 to 2032.

A Security IP Core refers to a pre-designed and pre-verified intellectual property (IP) block that is used to implement security features in electronic devices or systems. It is a hardware component that is integrated into a larger system to provide various security functions such as encryption, decryption, authentication, secure key storage, secure boot, secure communication protocols, and other security-related operations.

United States market for Security IP Core is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 through 2032.

China market for Security IP Core is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 through 2032.

Europe market for Security IP Core is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 through 2032.

Global key Security IP Core players cover Rambus, Synopsys, Silvaco, Secure-IC, intoPIX, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2025.

LPI (LP Information)' newest research report, the “Security IP Core Industry Forecast” looks at past sales and reviews total world Security IP Core sales in 2025, providing a comprehensive analysis by region and market sector of projected Security IP Core sales for 2026 through 2032. With Security IP Core sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Security IP Core industry.

This Insight Report provides a comprehensive analysis of the global Security IP Core landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Security IP Core portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Security IP Core market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Security IP Core and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Security IP Core.

This report presents a comprehensive overview, market shares, and growth opportunities of Security IP Core market by product type, application, key players and key regions and countries.

Segmentation by Type:
  • Hard Core
  • Soft Core
  • Solid Core
Segmentation by Application:
  • IoT
  • Automotive
  • Mobile Device
  • Others
This report also splits the market by region:
  • Americas
    • United States
    • Canada
    • Mexico
    • Brazil
  • APAC
    • China
    • Japan
    • Korea
    • Southeast Asia
    • India
    • Australia
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Russia
  • Middle East & Africa
    • Egypt
    • South Africa
    • Israel
    • Turkey
    • GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
  • Rambus
  • Synopsys
  • Silvaco
  • Secure-IC
  • intoPIX
  • Design Gateway
  • Xiphera
  • Noesis Technologies
1 SCOPE OF THE REPORT

  1.1 Market Introduction
  1.2 Years Considered
  1.3 Research Objectives
  1.4 Market Research Methodology
  1.5 Research Process and Data Source
  1.6 Economic Indicators
  1.7 Currency Considered
  1.8 Market Estimation Caveats

2 EXECUTIVE SUMMARY

  2.1 World Market Overview
  2.1.1 Global Security IP Core Market Size (2021-2032)
  2.1.2 Security IP Core Market Size CAGR by Region (2021 VS 2025 VS 2032)
  2.1.3 World Current & Future Analysis for Security IP Core by Country/Region (2021, 2025 & 2032)
  2.2 Security IP Core Segment by Type
  2.2.1 Hard Core
  2.2.2 Soft Core
  2.2.3 Solid Core
  2.2.4 Security IP Core Market Size by Type
  2.2.4.1 Security IP Core Market Size CAGR by Type (2021 VS 2025 VS 2032)
  2.2.4.2 Global Security IP Core Market Size Market Share by Type (2021-2026)
  2.3 Security IP Core Segment by Application
  2.3.1 IoT
  2.3.2 Automotive
  2.3.3 Mobile Device
  2.3.4 Others
  2.3.5 Security IP Core Market Size by Application
  2.3.5.1 Security IP Core Market Size CAGR by Application (2021 VS 2025 VS 2032)
  2.3.5.2 Global Security IP Core Market Size Market Share by Application (2021-2026)

3 SECURITY IP CORE MARKET SIZE BY PLAYER

  3.1 Security IP Core Market Size Market Share by Player
  3.1.1 Global Security IP Core Revenue by Player (2021-2026)
  3.1.2 Global Security IP Core Revenue Market Share by Player (2021-2026)
  3.2 Global Security IP Core Key Players Head office and Products Offered
  3.3 Market Concentration Rate Analysis
  3.3.1 Competition Landscape Analysis
  3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2024-2026)
  3.4 New Products and Potential Entrants
  3.5 Mergers & Acquisitions, Expansion

4 SECURITY IP CORE BY REGION

  4.1 Security IP Core Market Size by Region (2021-2026)
  4.2 Global Security IP Core Annual Revenue by Country/Region (2021-2026)
  4.3 Americas Security IP Core Market Size Growth (2021-2026)
  4.4 APAC Security IP Core Market Size Growth (2021-2026)
  4.5 Europe Security IP Core Market Size Growth (2021-2026)
  4.6 Middle East & Africa Security IP Core Market Size Growth (2021-2026)

5 AMERICAS

  5.1 Americas Security IP Core Market Size by Country (2021-2026)
  5.2 Americas Security IP Core Market Size by Type (2021-2026)
  5.3 Americas Security IP Core Market Size by Application (2021-2026)
  5.4 United States
  5.5 Canada
  5.6 Mexico
  5.7 Brazil

6 APAC

  6.1 APAC Security IP Core Market Size by Region (2021-2026)
  6.2 APAC Security IP Core Market Size by Type (2021-2026)
  6.3 APAC Security IP Core Market Size by Application (2021-2026)
  6.4 China
  6.5 Japan
  6.6 South Korea
  6.7 Southeast Asia
  6.8 India
  6.9 Australia

7 EUROPE

  7.1 Europe Security IP Core Market Size by Country (2021-2026)
  7.2 Europe Security IP Core Market Size by Type (2021-2026)
  7.3 Europe Security IP Core Market Size by Application (2021-2026)
  7.4 Germany
  7.5 France
  7.6 UK
  7.7 Italy
  7.8 Russia

8 MIDDLE EAST & AFRICA

  8.1 Middle East & Africa Security IP Core by Region (2021-2026)
  8.2 Middle East & Africa Security IP Core Market Size by Type (2021-2026)
  8.3 Middle East & Africa Security IP Core Market Size by Application (2021-2026)
  8.4 Egypt
  8.5 South Africa
  8.6 Israel
  8.7 Turkey
  8.8 GCC Countries

9 MARKET DRIVERS, CHALLENGES AND TRENDS

  9.1 Market Drivers & Growth Opportunities
  9.2 Market Challenges & Risks
  9.3 Industry Trends

10 GLOBAL SECURITY IP CORE MARKET FORECAST

  10.1 Global Security IP Core Forecast by Region (2027-2032)
  10.1.1 Global Security IP Core Forecast by Region (2027-2032)
  10.1.2 Americas Security IP Core Forecast
  10.1.3 APAC Security IP Core Forecast
  10.1.4 Europe Security IP Core Forecast
  10.1.5 Middle East & Africa Security IP Core Forecast
  10.2 Americas Security IP Core Forecast by Country (2027-2032)
  10.2.1 United States Market Security IP Core Forecast
  10.2.2 Canada Market Security IP Core Forecast
  10.2.3 Mexico Market Security IP Core Forecast
  10.2.4 Brazil Market Security IP Core Forecast
  10.3 APAC Security IP Core Forecast by Region (2027-2032)
  10.3.1 China Security IP Core Market Forecast
  10.3.2 Japan Market Security IP Core Forecast
  10.3.3 Korea Market Security IP Core Forecast
  10.3.4 Southeast Asia Market Security IP Core Forecast
  10.3.5 India Market Security IP Core Forecast
  10.3.6 Australia Market Security IP Core Forecast
  10.4 Europe Security IP Core Forecast by Country (2027-2032)
  10.4.1 Germany Market Security IP Core Forecast
  10.4.2 France Market Security IP Core Forecast
  10.4.3 UK Market Security IP Core Forecast
  10.4.4 Italy Market Security IP Core Forecast
  10.4.5 Russia Market Security IP Core Forecast
  10.5 Middle East & Africa Security IP Core Forecast by Region (2027-2032)
  10.5.1 Egypt Market Security IP Core Forecast
  10.5.2 South Africa Market Security IP Core Forecast
  10.5.3 Israel Market Security IP Core Forecast
  10.5.4 Turkey Market Security IP Core Forecast
  10.6 Global Security IP Core Forecast by Type (2027-2032)
  10.7 Global Security IP Core Forecast by Application (2027-2032)
  10.7.1 GCC Countries Market Security IP Core Forecast

11 KEY PLAYERS ANALYSIS

  11.1 Rambus
  11.1.1 Rambus Company Information
  11.1.2 Rambus Security IP Core Product Offered
  11.1.3 Rambus Security IP Core Revenue, Gross Margin and Market Share (2021-2026)
  11.1.4 Rambus Main Business Overview
  11.1.5 Rambus Latest Developments
  11.2 Synopsys
  11.2.1 Synopsys Company Information
  11.2.2 Synopsys Security IP Core Product Offered
  11.2.3 Synopsys Security IP Core Revenue, Gross Margin and Market Share (2021-2026)
  11.2.4 Synopsys Main Business Overview
  11.2.5 Synopsys Latest Developments
  11.3 Silvaco
  11.3.1 Silvaco Company Information
  11.3.2 Silvaco Security IP Core Product Offered
  11.3.3 Silvaco Security IP Core Revenue, Gross Margin and Market Share (2021-2026)
  11.3.4 Silvaco Main Business Overview
  11.3.5 Silvaco Latest Developments
  11.4 Secure-IC
  11.4.1 Secure-IC Company Information
  11.4.2 Secure-IC Security IP Core Product Offered
  11.4.3 Secure-IC Security IP Core Revenue, Gross Margin and Market Share (2021-2026)
  11.4.4 Secure-IC Main Business Overview
  11.4.5 Secure-IC Latest Developments
  11.5 intoPIX
  11.5.1 intoPIX Company Information
  11.5.2 intoPIX Security IP Core Product Offered
  11.5.3 intoPIX Security IP Core Revenue, Gross Margin and Market Share (2021-2026)
  11.5.4 intoPIX Main Business Overview
  11.5.5 intoPIX Latest Developments
  11.6 Design Gateway
  11.6.1 Design Gateway Company Information
  11.6.2 Design Gateway Security IP Core Product Offered
  11.6.3 Design Gateway Security IP Core Revenue, Gross Margin and Market Share (2021-2026)
  11.6.4 Design Gateway Main Business Overview
  11.6.5 Design Gateway Latest Developments
  11.7 Xiphera
  11.7.1 Xiphera Company Information
  11.7.2 Xiphera Security IP Core Product Offered
  11.7.3 Xiphera Security IP Core Revenue, Gross Margin and Market Share (2021-2026)
  11.7.4 Xiphera Main Business Overview
  11.7.5 Xiphera Latest Developments
  11.8 Noesis Technologies
  11.8.1 Noesis Technologies Company Information
  11.8.2 Noesis Technologies Security IP Core Product Offered
  11.8.3 Noesis Technologies Security IP Core Revenue, Gross Margin and Market Share (2021-2026)
  11.8.4 Noesis Technologies Main Business Overview
  11.8.5 Noesis Technologies Latest Developments

12 RESEARCH FINDINGS AND CONCLUSION
LIST OF TABLES

Table 1. Security IP Core Market Size CAGR by Region (2021 VS 2025 VS 2032) & ($ millions)
Table 2. Security IP Core Annual Sales CAGR by Country/Region (2021, 2025 & 2032) & ($ millions)
Table 3. Major Players of Hard Core
Table 4. Major Players of Soft Core
Table 5. Major Players of Solid Core
Table 6. Security IP Core Market Size CAGR by Type (2021 VS 2025 VS 2032) & ($ millions)
Table 7. Global Security IP Core Market Size by Type (2021-2026) & ($ millions)
Table 8. Global Security IP Core Market Size Market Share by Type (2021-2026)
Table 9. Security IP Core Market Size CAGR by Application (2021 VS 2025 VS 2032) & ($ millions)
Table 10. Global Security IP Core Market Size by Application (2021-2026) & ($ millions)
Table 11. Global Security IP Core Market Size Market Share by Application (2021-2026)
Table 12. Global Security IP Core Revenue by Player (2021-2026) & ($ millions)
Table 13. Global Security IP Core Revenue Market Share by Player (2021-2026)
Table 14. Security IP Core Key Players Head office and Products Offered
Table 15. Security IP Core Concentration Ratio (CR3, CR5 and CR10) & (2024-2026)
Table 16. New Products and Potential Entrants
Table 17. Mergers & Acquisitions, Expansion
Table 18. Global Security IP Core Market Size by Region (2021-2026) & ($ millions)
Table 19. Global Security IP Core Market Size Market Share by Region (2021-2026)
Table 20. Global Security IP Core Revenue by Country/Region (2021-2026) & ($ millions)
Table 21. Global Security IP Core Revenue Market Share by Country/Region (2021-2026)
Table 22. Americas Security IP Core Market Size by Country (2021-2026) & ($ millions)
Table 23. Americas Security IP Core Market Size Market Share by Country (2021-2026)
Table 24. Americas Security IP Core Market Size by Type (2021-2026) & ($ millions)
Table 25. Americas Security IP Core Market Size Market Share by Type (2021-2026)
Table 26. Americas Security IP Core Market Size by Application (2021-2026) & ($ millions)
Table 27. Americas Security IP Core Market Size Market Share by Application (2021-2026)
Table 28. APAC Security IP Core Market Size by Region (2021-2026) & ($ millions)
Table 29. APAC Security IP Core Market Size Market Share by Region (2021-2026)
Table 30. APAC Security IP Core Market Size by Type (2021-2026) & ($ millions)
Table 31. APAC Security IP Core Market Size by Application (2021-2026) & ($ millions)
Table 32. Europe Security IP Core Market Size by Country (2021-2026) & ($ millions)
Table 33. Europe Security IP Core Market Size Market Share by Country (2021-2026)
Table 34. Europe Security IP Core Market Size by Type (2021-2026) & ($ millions)
Table 35. Europe Security IP Core Market Size by Application (2021-2026) & ($ millions)
Table 36. Middle East & Africa Security IP Core Market Size by Region (2021-2026) & ($ millions)
Table 37. Middle East & Africa Security IP Core Market Size by Type (2021-2026) & ($ millions)
Table 38. Middle East & Africa Security IP Core Market Size by Application (2021-2026) & ($ millions)
Table 39. Key Market Drivers & Growth Opportunities of Security IP Core
Table 40. Key Market Challenges & Risks of Security IP Core
Table 41. Key Industry Trends of Security IP Core
Table 42. Global Security IP Core Market Size Forecast by Region (2027-2032) & ($ millions)
Table 43. Global Security IP Core Market Size Market Share Forecast by Region (2027-2032)
Table 44. Global Security IP Core Market Size Forecast by Type (2027-2032) & ($ millions)
Table 45. Global Security IP Core Market Size Forecast by Application (2027-2032) & ($ millions)
Table 46. Rambus Details, Company Type, Security IP Core Area Served and Its Competitors
Table 47. Rambus Security IP Core Product Offered
Table 48. Rambus Security IP Core Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 49. Rambus Main Business
Table 50. Rambus Latest Developments
Table 51. Synopsys Details, Company Type, Security IP Core Area Served and Its Competitors
Table 52. Synopsys Security IP Core Product Offered
Table 53. Synopsys Security IP Core Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 54. Synopsys Main Business
Table 55. Synopsys Latest Developments
Table 56. Silvaco Details, Company Type, Security IP Core Area Served and Its Competitors
Table 57. Silvaco Security IP Core Product Offered
Table 58. Silvaco Security IP Core Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 59. Silvaco Main Business
Table 60. Silvaco Latest Developments
Table 61. Secure-IC Details, Company Type, Security IP Core Area Served and Its Competitors
Table 62. Secure-IC Security IP Core Product Offered
Table 63. Secure-IC Security IP Core Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 64. Secure-IC Main Business
Table 65. Secure-IC Latest Developments
Table 66. intoPIX Details, Company Type, Security IP Core Area Served and Its Competitors
Table 67. intoPIX Security IP Core Product Offered
Table 68. intoPIX Security IP Core Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 69. intoPIX Main Business
Table 70. intoPIX Latest Developments
Table 71. Design Gateway Details, Company Type, Security IP Core Area Served and Its Competitors
Table 72. Design Gateway Security IP Core Product Offered
Table 73. Design Gateway Security IP Core Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 74. Design Gateway Main Business
Table 75. Design Gateway Latest Developments
Table 76. Xiphera Details, Company Type, Security IP Core Area Served and Its Competitors
Table 77. Xiphera Security IP Core Product Offered
Table 78. Xiphera Security IP Core Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 79. Xiphera Main Business
Table 80. Xiphera Latest Developments
Table 81. Noesis Technologies Details, Company Type, Security IP Core Area Served and Its Competitors
Table 82. Noesis Technologies Security IP Core Product Offered
Table 83. Noesis Technologies Security IP Core Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 84. Noesis Technologies Main Business
Table 85. Noesis Technologies Latest Developments

LIST OF FIGURES

Figure 1. Security IP Core Report Years Considered
Figure 2. Research Objectives
Figure 3. Research Methodology
Figure 4. Research Process and Data Source
Figure 5. Global Security IP Core Market Size Growth Rate (2021-2032) ($ millions)
Figure 6. Security IP Core Sales by Geographic Region (2021, 2025 & 2032) & ($ millions)
Figure 7. Security IP Core Sales Market Share by Country/Region (2025)
Figure 8. Security IP Core Sales Market Share by Country/Region (2021, 2025 & 2032)
Figure 9. Global Security IP Core Market Size Market Share by Type in 2025
Figure 10. Security IP Core in IoT
Figure 11. Global Security IP Core Market: IoT (2021-2026) & ($ millions)
Figure 12. Security IP Core in Automotive
Figure 13. Global Security IP Core Market: Automotive (2021-2026) & ($ millions)
Figure 14. Security IP Core in Mobile Device
Figure 15. Global Security IP Core Market: Mobile Device (2021-2026) & ($ millions)
Figure 16. Security IP Core in Others
Figure 17. Global Security IP Core Market: Others (2021-2026) & ($ millions)
Figure 18. Global Security IP Core Market Size Market Share by Application in 2025
Figure 19. Global Security IP Core Revenue Market Share by Player in 2025
Figure 20. Global Security IP Core Market Size Market Share by Region (2021-2026)
Figure 21. Americas Security IP Core Market Size 2021-2026 ($ millions)
Figure 22. APAC Security IP Core Market Size 2021-2026 ($ millions)
Figure 23. Europe Security IP Core Market Size 2021-2026 ($ millions)
Figure 24. Middle East & Africa Security IP Core Market Size 2021-2026 ($ millions)
Figure 25. Americas Security IP Core Value Market Share by Country in 2025
Figure 26. United States Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 27. Canada Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 28. Mexico Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 29. Brazil Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 30. APAC Security IP Core Market Size Market Share by Region in 2025
Figure 31. APAC Security IP Core Market Size Market Share by Type (2021-2026)
Figure 32. APAC Security IP Core Market Size Market Share by Application (2021-2026)
Figure 33. China Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 34. Japan Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 35. South Korea Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 36. Southeast Asia Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 37. India Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 38. Australia Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 39. Europe Security IP Core Market Size Market Share by Country in 2025
Figure 40. Europe Security IP Core Market Size Market Share by Type (2021-2026)
Figure 41. Europe Security IP Core Market Size Market Share by Application (2021-2026)
Figure 42. Germany Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 43. France Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 44. UK Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 45. Italy Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 46. Russia Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 47. Middle East & Africa Security IP Core Market Size Market Share by Region (2021-2026)
Figure 48. Middle East & Africa Security IP Core Market Size Market Share by Type (2021-2026)
Figure 49. Middle East & Africa Security IP Core Market Size Market Share by Application (2021-2026)
Figure 50. Egypt Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 51. South Africa Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 52. Israel Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 53. Turkey Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 54. GCC Countries Security IP Core Market Size Growth 2021-2026 ($ millions)
Figure 55. Americas Security IP Core Market Size 2027-2032 ($ millions)
Figure 56. APAC Security IP Core Market Size 2027-2032 ($ millions)
Figure 57. Europe Security IP Core Market Size 2027-2032 ($ millions)
Figure 58. Middle East & Africa Security IP Core Market Size 2027-2032 ($ millions)
Figure 59. United States Security IP Core Market Size 2027-2032 ($ millions)
Figure 60. Canada Security IP Core Market Size 2027-2032 ($ millions)
Figure 61. Mexico Security IP Core Market Size 2027-2032 ($ millions)
Figure 62. Brazil Security IP Core Market Size 2027-2032 ($ millions)
Figure 63. China Security IP Core Market Size 2027-2032 ($ millions)
Figure 64. Japan Security IP Core Market Size 2027-2032 ($ millions)
Figure 65. Korea Security IP Core Market Size 2027-2032 ($ millions)
Figure 66. Southeast Asia Security IP Core Market Size 2027-2032 ($ millions)
Figure 67. India Security IP Core Market Size 2027-2032 ($ millions)
Figure 68. Australia Security IP Core Market Size 2027-2032 ($ millions)
Figure 69. Germany Security IP Core Market Size 2027-2032 ($ millions)
Figure 70. France Security IP Core Market Size 2027-2032 ($ millions)
Figure 71. UK Security IP Core Market Size 2027-2032 ($ millions)
Figure 72. Italy Security IP Core Market Size 2027-2032 ($ millions)
Figure 73. Russia Security IP Core Market Size 2027-2032 ($ millions)
Figure 74. Egypt Security IP Core Market Size 2027-2032 ($ millions)
Figure 75. South Africa Security IP Core Market Size 2027-2032 ($ millions)
Figure 76. Israel Security IP Core Market Size 2027-2032 ($ millions)
Figure 77. Turkey Security IP Core Market Size 2027-2032 ($ millions)
Figure 78. Global Security IP Core Market Size Market Share Forecast by Type (2027-2032)
Figure 79. Global Security IP Core Market Size Market Share Forecast by Application (2027-2032)
Figure 80. GCC Countries Security IP Core Market Size 2027-2032 ($ millions)